In late November 2017, YPF was reported to be divesting an 11% interest to Pentanova through the signing of a heavy oil development project for the 96 sq km Llancanelo Block, in the Mendoza province portion of the Neuquen Basin. The total investment expected is US$ 54 million for the next 3 years. Argentine operator, Roch had already divested its 10% interest on the block in October 2017. Pentanova also recently acquired Alianza Petrolera, previously owned by Hong Kong's Petro AP. Pentanova in August 2017, completed the acquisition of the 29% stake of Alianza in this block and an additional 11% from YPF for US$ 40 million. Pentanova will now hold 61% total interest in the block though YPF remains as operator and keeps 39% interest as well. This agreement also provided preferred rights to negotiate on the surrounding Llancanelo R Block 1 block which is held 100% by YPF. Llancanelo produces an average of 1,280 b/d of heavy oil. Pentanova expects to complete a US$ 200 million investment plan in various licenses in Argentina in the near future. 
Argentina, Llancanelo