Madalena previously held a 35% stake in the entire Coiron Amargo block, which is prospective for both the Vaca Muerta and Sierras Blancas formations and is subdivided into north and southern sections.
The latest transaction, which is subject to government approvals and did not involve cash consideration, calls for the division of Coiron Amargo South into eastern and western blocks.
Madalena would see its interest in the western section assigned to counterparties including units of supermajor Shell and local players Pluspetrol (Apco) and Roch,
Meanwhile, Madalena's stake in Coiron Amargo south-east would increase to 90%, with the company becoming operator on that block.
