Capex Raises Stake to 52.5% in Loma Negra and La Yesera

Capex completed the acquisition of the 15% stake that the International Finance Corporation (IFC), an entity of the World Bank Group, held in the oil concessions Loma Negra and La Yesera, in northern Río Negro. Through the transaction, the company increased its controlling stake to 52.5% in each area and maintained operatorship of both blocks.

The transaction required a total disbursement of USD 3.5 million, comprised of USD 1.6 million for Loma Negra and USD 1.9 million for La Yesera. Closing was completed following provincial approval granted through decrees 721/2026 and 803/2026.

The shareholding structure is now composed of Capex with 52.5%; YPF with 35%; and Metro Holding with 12.5%. In wells LY-1002 and LY-1003 in La Yesera, Capex's participation increased to 87.5%, up from 72.5% prior to the purchase.

Loma Negra covers approximately 281 square kilometers north of General Roca and has accumulated more than 130 wells drilled since the 1990s. La Yesera spans 73.68 square kilometers, is located roughly ten kilometers east of Cipolletti, and produces from deep reservoirs of the Precuyo Group, located near 4,700 meters depth.

The concessions are part of the Neuquén Basin and are considered mature conventional areas. The operational focus is on sustaining and recovering production through remedial work and improvements to existing wells. In the last reported period, Capex completed two wells in Loma Negra and carried out remedial operations, while no new wells were drilled in La Yesera.

The company also agreed to extend the concessions, whose original expiration dates were 2024 for Loma Negra and 2027 for La Yesera. The commitment includes approximately USD 35 million in firm investment, an additional USD 27 million subject to conditions, and a bonus of approximately USD 6.7 million. Meanwhile, Capex is advancing unconventional projects in Neuquén through the Agua del Cajón area.