The managers highlighted the progress in the development of shale oil in the Rincón de Aranda block and reported new highs in its gas production. In addition, they highlighted the level of electricity generation and debt.
Pampa Energy presented its results for the third quarter of the year and announced an investment of US$1.5 billion to develop its reserves of oil unconventional in Dead Cow.
Before investors, Pampa directors highlighted the progress in the development of shale oil on the block Aranda Corner and reported that they reached new highs in their production of gasmainly in the deposits El Mangrullo and Sierra Chata.
“We have planned an investment of US$700 million in Rincón de Aranda by 2025 and we plan to reach US$1.5 billion by 2027. Our objective is to multiply our oil production by ten and reach 50,000 barrels per day”stated the CEO, Gustavo Mariani.
During the presentation, Mariani also highlighted gas production. “During the third quarter we reached an average of 14 million m3 per day, which means 8% more compared to the same quarter last year,” held.
Pampa Energy Vaca Muerta
Besides, Pampa Energy It also showed excellent operational performance in the electrical segment. Compared to the third quarter of 2023, they reported generation growth of 19%, despite the 3% reduction in national electricity generation.
Finally, the company reported that it continues to strengthen its financial situation, achieving a net debt of US$539 million, the lowest level in the last eight years, with a net ratio of 0.8x.
Source: Ambito
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