In early-November 2017, local reports indicated that Patagonia Oil Corp has acquired Rochâs 10% working interest in the Llancanelo block. The purchase effectively increased the companyâs stake in the concession to 39%, following its acquisition (via affiliate company PentaNova Energy) of Alianza Petrolera Argentina from Hong Kong-based Petro AP in August 2017. Alianza previously held 29% interest in the block. State company YPF is the operator with 61% controlling interest. Â  The Llancanelo block covers 26.56 sq km of onshore land in the Mendoza Province side on the Northeast Platform of the Neuquen Basin. Recently in April 2017, Patagonia signed an agreement to acquire 11% participating interest on the block from YPF for USD 40 million, which is still pending on approval from the government of Mendoza Province. It was reported that the companies plan to develop a heavy oil pilot project in the block for a total investment amount of USD54 million over the next 36 months, with YPF remaining as the operator.
Alianza Petrolera Argentina has agreed to acquire a 10% stake in the Llancanelo block from Roch (->0%, YPF 50% op, Patagonia Oil 11%, PentaNova 29%).