Linklaters Advises Banco Santander, S.A. on the Acquisition Financing of Petronas E&P Argentina S.A.’s Operations

Linklaters advised Banco Santander, S.A. on the provision of a $300 million term loan to Vista Energy Argentina S.A.U. for the acquisition of Petronas E&P Argentina S.A. The acquisition closed on April 15, 2025.

Vista is a leading shale oil-focused company engaged in the exploration and production of oil and natural gas in Argentina. Vista is the largest independent oil producer in Argentina, with its production coming from Vaca Muerta, the most extensive shale oil and gas play under development outside North America. Through the acquisition of Petronas E&P Argentina S.A., Vista improved its asset portfolio and increased its production by almost 50%, incorporating a block that is located next to Vista’s development hub and has approximately 200 ready-to-drill wells.  

The Linklaters team was led by Partners Michael Bassett and Emilio Minvielle, supported by Counsel Andrés Loera and Associates Thomas Tiphaine Koffman, Mason Kim, and Vivian Meng.

Linklaters’ lawyers have practiced in Latin America for decades and Linklaters was one of the first international firms to open an office in Brazil in 1997. With a growing team of Latin America-focused lawyers across New York, Washington, D.C., and São Paulo, the firm continues to increase its presence in the Latin America region and deepen existing relationships with leading local law firms. Linklaters is highly ranked across key Latin America legal directories including Chambers, Legal 500, and Latin Lawyer, and in the past year took home three deal of the year awards for Sovereign Bond, Quasi-Sovereign Bond, and Equity Follow-On of the Year Awards.