ExxonMobil weighs offers for Argentina shale assets

U.S. energy giant ExxonMobil Corp, opens new tab is weighing offers for its oil and gas assets in Argentina's Vaca Muerta shale region, a source familiar with the plan said, adding there was no time frame for a decision and the sale may not move forward.

Bloomberg earlier on Friday reported that ExxonMobil was exploring a $1 billion sale of its shale assets in the South American country, a process that started last year.

"The process began in August, it continues to advance and the offers are being evaluated," the source said, asking not to be named as the matter was confidential. The person added that the firm had received offers earlier this month.

"At the beginning of February they presented binding offers. There is no time or due date to provide a response to say how the operation continues. They are being evaluated by the shareholders," the source said.

Exxon's assets in Argentina include stakes it owns in seven oil-and-gas blocks in Vaca Muerta.