U.S. energy giant ExxonMobil Corp is weighing offers for its oil and gas assets in Argentina’s Vaca Muerta shale region, a source familiar with the plan said on Friday, adding there was no time frame for a decision and the sale may not move forward.
The comments come after Bloomberg earlier reported that ExxonMobil was exploring a $1 billion sale of its Argentina shale assets, a process which started last year.
“The process began in August, it continues to advance and the offers are being evaluated,” the source said, asking not to be named as the process was confidential. The person added that the firm had received offers earlier this month.
“At the beginning of February they presented binding offers. There is no time or due date to provide a response to say how the operation continues. They are being evaluated by the shareholders,” the source said.
(Reporting by Eliana Raszewski; Editing by Adam Jourdan)