Pampa Energia S.A. Q3 2025 Earnings Recap

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.