The Government of Río Negro authorized the transfer to Capex of the 15% that the International Finance Corporation, an agency of the World Bank Group, held in the Loma Negra and La Yesera oil concessions. The decision was formalized by Decree 721/26, published in the Official Gazette. When the final deed is completed, the company will increase its participation in the two blocks from 37.5% to 52.5%.
The operation totals US$3.5 million. Of that total, US$1.6 million corresponds to the stake in Loma Negra and US$1.9 million to La Yesera. Both companies requested the transfer during 2026 and presented technical, economic and legal documentation to the Secretary of State for Energy and Environment, which evaluated the file before recommending approval.
The assets have different scales and locations within the province. La Yesera occupies about 74 square kilometers in the vicinity of Cipolletti, while Loma Negra extends over more than 280 square kilometers north of Roca. Capex already operates the two areas, so the decree does not change the daily management of the deposits, but it does strengthen its corporate position.
After the transfer, Metro Holding will retain 12.5% of each concession and YPF will retain 35%. The province reviewed the buyer's capacity to assume the associated obligations and the Hydrocarbons Secretariat requested additional information during the process. The file concluded that Capex meets the technical, financial and economic conditions required to increase its participation.
The decree imposes two deadlines. Companies must present the final deed within ten business days after its issuance for the transfer to be fully valid, while the authorization of the Executive Branch expires 30 days after being notified. Río Negro, owner of the appeal, decided not to exercise the right to match the best offer and allowed the procedure agreed upon by the parties to continue.
The measure falls within article 72 of the National Hydrocarbons Law 17,319, which requires prior authorization to transfer concessions. The file also mentions a partial agreement between YPF and Capex on a specific La Yesera well: as of August 5, 2027, Capex would reach 87.5% there and Metro Holding would retain 12.5%. Before that milestone, the immediate step will be to register the deed within the established deadline.
