Exploration & Production (‘E&P’)

 

Pampa is one of the leading hydrocarbon E&P companies in Argentina, with a presence in the country’s major basins, from which it obtains natural gas and crude oil. As of fourth quarter of 2023 (Q4 23):

  • The production level reached 56.4 thousand boe/d (barrels of oil equivalent per day), corresponding 92% to natural gas and 8% to crude oil
  • The 8.8 million m3 per day of natural gas production mainly comes from ‘El Mangrullo’, ‘Rincón del Mangrullo’, ‘Río Neuquén’ and ‘Sierra Chata’ blocks and it was sold at an average price of US$3.2/million BTU

Moreover, Pampa’s total proven reserves (‘P1’), developed and undeveloped, as of December 31, 2023 is 199 million boe, corresponding 94% to natural gas and 6% to liquids. These P1 reserves are 100% located in Argentina, being 65% developed and 35% undeveloped:

Proved reserves category (‘P1’) Crude oil, condensate and NGL
(in thousand barrels)		 Natural gas
(in million cubic feet)		 Total
(in million boe)		 % of gas
Proved developed 7,592 724,774 128 94%
Proved undeveloped 3,994 399,470 71 94%
Total proved reserves 11,586 1,124,245 199 94%

 

The following table summarizes the E&P’s main technical indicators for the continuing operations:

Technical Data Q4 22 Q4 23
Number of productive wells in Argentina 895 813
Average gas production in Argentina (thousand m3/day) 9,493 8,821
Average oil production in Argentina (thousand bbl/day) 5.7 4.5
Total average production in Argentina (thousand boe/day) 61.6 56.4
Average gas price in US$/million BTU 3.9 3.2
Average oil price in US$/bbl 66.9 68.9

Notes: Q4 22: fourth quarter 2022.

Conversion chart

Product From To Calculation Converter
Crude oil m3 bbl X 6.28981
Gas million m3 million standard cubic feet X 35.31466247
Gas million standard cubic feet thousand boe / 6
Gas million m3 BTU / 27.096344
Productive Blocks in Argentina
Exploratory Blocks in Argentina