London, Jan 24, 2026, 07:52 (GMT) — Market closed
- Shares of Shell rose 0.5% on Friday, finishing at 2,687.5 pence in London trading
- Reuters reported that Shell has approached potential buyers about selling its Vaca Muerta assets in Argentina
- The company revealed new share buybacks in London and Amsterdam, pushing investors to eye early February for the next important milestone
Shell plc (SHEL.L) has reached out to potential buyers about unloading its Vaca Muerta assets in Argentina’s Neuquen basin, three sources told Reuters, sparking fresh questions about the company’s long-term plans in Latin America. The stakes could run into billions, according to the sources, though they warned a sale isn’t certain; Shell declined to comment. Continental Resources, which recently entered the region, dubbed it “one of the most compelling shale plays in the world.” Andy McConn, director at Enverus Intelligence Research, noted Shell’s holdings might break even with Brent prices under $50, adding that “such economics and scale screen favorably versus other global shale assets.” reuters.com
Shell shares ended Friday 0.5% higher at 2,687.5 pence, bouncing around between 2,678 and 2,722 pence during the session. Roughly 9.9 million shares changed hands. With London markets closed over the weekend, traders will be watching Monday’s open closely, especially for signs the Argentina review could lead to something concrete beyond an initial inquiry.
Here’s why it matters now: asset sales and buybacks aren’t just background noise for Shell investors—they’re front and center. When the company locks in value from Argentina and maintains steady cash returns, it usually sets a floor under the stock.
Timing is another key issue. Large sales often take time to unfold, and the market usually holds off on reacting until the details are nailed down — the price, the buyer, and Shell’s plans for the proceeds.
Shell gave an update on its share buybacks, revealing it repurchased 572,214 shares on the London Stock Exchange and 574,982 shares in Amsterdam on Jan. 23. These shares are set for cancellation under its current buyback program. The company paid a volume-weighted average price of £27.0283 per share in London and €31.3038 in Amsterdam. Merrill Lynch International is handling trading decisions independently from Shell through Jan. 30.
Shell disclosed it purchased 773,278 shares in London and 774,569 shares in Amsterdam the previous day, with the intent to cancel them. The volume-weighted average prices stood at £26.9797 and €31.1175, respectively.
The broader market struggled for direction. The FTSE 100 edged down 0.07% on Friday, even as energy shares gained 0.8%, lifted by firmer oil prices.
Buybacks are key because they reduce the number of shares outstanding, pushing up earnings per share even if profits don’t budge. They also reveal management’s view on the stock’s worth, though the market doesn’t always respond as expected.
Still, the Argentina angle could fall apart fast. Reuters cited sources saying the sale is far from certain, with asset valuation tricky due to undeveloped acreage and volatile commodity prices; Shell declined to comment. If negotiations hit a dead end, the shares might slide back to reflecting crude prices and overall sector mood.
Investors will be watching Feb. 5 closely, the date Shell’s interim dividend timetable marks for the announcement of its fourth-quarter 2025 dividend.
