In December 2019, Wintershall Dea was granted formal approvals to transfer half of its working interest to ConocoPhillips in the Aguada Federal and Bandurria Norte blocks in the Province of Neuquen.     Previously Wintershall Dea was      operator of both blocks with 90% working interest in the Aguada Federal block      and provincial company GyP Neuquen holding the remaining 10%, while in the      Bandurria Norte block it held 100% working interest.   With the formal approvals granted,      Wintershall Dea is operator of the Aguada Federal contract with 45%      working interest, ConocoPhillips holds 45% working interest and GyP      Neuquen holds 10% working interest while in the Bandurria Norte contract      Wintershall Dea is operator with 50% working interest and ConocoPhillips      holds 50% working interest.   The 97.38 sq km Aguada Federal and 107.01 sq km Bandurria Norte blocks are situated in the Neuquen Embayment portion of the Neuquen Basin in the oil and gas window trend. Wintershall Dea has drilled nine unconventional horizontal wells in the Aguada Federal block and five in the Bandurria Norte blocks since 2018.  Background Information  The Aguada Federal block is situated directly next to state company YPFâs La Amarga Chica block where the operator and its Malaysian state partner Petronas recently agreed to enter the development phase on their Vaca Muerta shale oil project in late-2018. Meanwhile, Bandurria Norte is located adjacent to YPFâs San Roque and Bajada de Anelo blocks, where the company intends to develop shale oil in 2020 as part of its 1.6 billion investment plan for 2020 to 2021.
Wintershall Dea has agreed to farmout some interests to ConocoPhillips in the Aguada Federal (97kmÂ²) & Bandurria Norte (105kmÂ²) blocks, Wintershall Dea retains operatorship and 45% in the Aguada Federal (partner GyPNeuquÃ©n 10%), and 50% in Bandurria Norte.