In mid-June 2019, state company Integracion Energetica Argentina (IEASA), formerly ENARSA, announced that it has received four bids from four qualified operators on its 100%-held Aguada del Chanar block that was offered through a licensing round called ADCH 01/2019. State company YPF reported to be the highest bidder with over USD 95.6 million, followed by Pan American Energy with USD 45 million, Tecpetrol with 40.1 million, and Vista Oil & Gas with USD 8.1 million. It was mentioned back in February 2019 that official award for the block is expected sometime in June 2019.  Aguada del Chanar block covers 57 sq km of land in the Neuquen Embayment part of Neuquen Basin. It is situated adjacent to Wintershallâs Aguada Federal block on the western side where the operator has been targeting resources in the Vaca Muerta Formation shale, and also directly next to YPFâs La Amarga Chica block on the southwestern side where the operator and Malaysian state partner Petronas recently agreed to enter the development phase on their Vaca Muerta shale oil project in late-2018.  IEASA joined provincial company GyP Neuquen as a 50% stakeholder in the Aguada del Chanar block in February 2010 before receiving a 25-year exploitation permit in August 2012 with the option of a 10-year extension. IEASA became the 100% holding operator for the concession when a 35-year permit for unconventional exploitation was granted in October 2018. The unconventional permit was awarded with the expected commitment of a USD 10 million work program that includes an acquisition of 80 sq km of 3D seismic and an exploration well workover in the tight reservoirs of Punta Rosada-Lajas formations by October 2020.  Background Information  Fields in Auguada del Chanar block have produced over 78 Mbo and 3.3 Bscfg as of January 2019, with 29 Mbo and 33 MMscfg from the Vaca Muerta Formation.
Integracion Energetica Argentina SA (IEASA) received four bids on Aguada del Chanar block, Neuquen Basin