Pampa Energia S.A. Earnings Recaps
Q3 2025
Nov 6, 2025
Pampa Energia reported a strong Q3 2025 performance, driven by significant ramp-up in production at Rincón de Aranda and record-high gas delivery, resulting in a 16% year-on-year increase in adjusted EBITDA. The company showcases confidence in its fundamentals through share repurchases amidst market volatility.
Key takeaways
- Adjusted EBITDA reached $322 million, boosted by the successful Rincón de Aranda ramp-up and higher sales, reflecting a 16% increase year-on-year.
- Oil and Gas segment EBITDA increased by 40% year-on-year to $171 million, with oil now contributing 34% of E&P EBITDA.
- Total production averaged nearly 100,000 BOE per day, a 14% increase from the previous year, driven by new pads in Rincón de Aranda.
- Captured strong winter demand led to an all-time high gas production of almost 18 million cubic meters per day, further enhancing margins.
- Significant CapEx surge of 183% year-on-year to $332 million, with a focus on Rincón de Aranda development, signaling strong growth prospects.
Q2 2025
Aug 11, 2025
Pampa Energia's Q2 2025 results showed a 17% decline in adjusted EBITDA to $239 million, primarily impacted by soft gas sales and increased operating expenses, while production ramp-up at Rincón de Aranda provided some offsetting factors.
Key takeaways
- Adjusted EBITDA fell 17% year-on-year due to decreased gas sales and higher operational costs, despite contributions from the new 140 MW wind farm.
- Capital expenditures surged 134% YoY to $354 million, primarily directed towards Rincón de Aranda's development.
- Gas exports to Chile increased, with a significant production rebound occurring from Rincón de Aranda in June, which is projected to hit a capacity of 20,000 barrels per day by Q4 2025.