Shares of Vista Energy, S.A.B. de C.V. (VIST) slipped over 6% on Tuesday morning on reports that Equinor has reached a deal to sell its onshore assets in Argentina's Vaca Muerta basin to Vista Energy for approximately $1.1 billion.
VIST is currently trading at $56.14, down $4.09 or 6.79%, on Nasdaq. The stock opened its trading at $56.22 after closing Monday at $60.24.
The sale includes a 30% non-operated stake in the Bandurria Sur licence and a 50% non-operated stake in the Bajo del Toro asset.
Equinor will receive an upfront cash payment of $550 million and shares in Vista upon closing, along with contingent payments based on production and oil prices over five years.
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