Production and Reserves - As of December 31, 2024, the company has a total production of 78.2 thousand boe/d, with crude oil production at 4.8 k bbl/d and natural gas production at 73.4 thousand boe/d[256][260] - As of December 31, 2024, the company's combined crude oil and natural gas proved reserves amounted to approximately 231.2 million boe, with 93% being natural gas[260] - Combined crude oil and natural gas proved reserves were 231 million boe, with 55% being proved developed reserves[310] - The total proved reserves increased from 199.0 million boe in 2023 to 231.2 million boe in 2024, reflecting successful extensions and discoveries[343] - The company has proved developed and undeveloped reserves totaling 231.2 million barrels of oil equivalent (boe), which includes 17.2 million barrels of liquid hydrocarbons and 1,284.2 billion cubic feet of natural gas[338] - Proved developed reserves of crude oil equivalent represented 55% of total proved reserves, equating to approximately nine years of production at 2024 volumes[339] - There was a 46% increase in proved undeveloped reserves in 2024 compared to 2023, primarily due to successful drilling activities[349] - The independent audit by GaffneyCline covered 98% of the company's estimated proved reserves as of December 31, 2024[337] - The reserves estimation process is supervised by a Reserves Technical Officer, ensuring compliance with SEC guidelines[350] Financial Performance - The oil and gas business segment recorded revenue of U.S.730millionandanoperatingprofitofU.S.69 million for the fiscal year ended December 31, 2024[256] - Revenues from oil and gas operations in Argentina for 2024 totaled 730million,anincreasefrom666 million in 2023[329] - The average production cost per barrel of oil equivalent in Argentina for 2024 was 17,adecreasefrom18 in 2023[327] - The average sales price for oil in Argentina was 73perbarrelin2024,upfrom69 in 2023, while the gas price remained stable at 4perthousandcubicfeet[330]−Theaveragegrossmarginfor2024isprojectedtobe24,comparedto26for2023,indicatingaslightdecreaseinprofitability[395]−Averagegrossmarginfor2024isforecastedat36/MWh, up from 35/MWhin2023[397]PowerGeneration−Thepowergenerationsegmentachievedinstalledcapacityofapproximately5,472MW,representingabout13672 million and an operating profit of U.S.204million[257]−Installedcapacityincreasedto5,472MW,withamarketshareof133 billion, aimed at enhancing crude oil evacuation and exports[266][269] - The company acquired a 20% stake in the FLNG Project, which is expected to start operations in September 2027, to monetize Vaca Muerta reserves and boost foreign currency inflows[271][272] - The "Proyecto Duplicar" increased the Allen - Puerto Rosales oil pipeline's capacity from 225,000 barrels per day to 540,000 barrels per day, with an investment of U.S.1.4billion[444]−VMOSprojectrequiresanestimatedinvestmentofU.S.3 billion, aimed at constructing a 437 km pipeline for crude oil evacuation and exports[439] - The company invested U.S.72.2millionindrillingandcompletionactivitiesin2024,convertingapproximately12.7millionboeofprovedundevelopedreservestoproveddevelopedreserves[348]ProductionActivities−Thecompanyhasatotalof688productivewellsinArgentina,with272beingoilwellsand416gaswells[312]−In2024,thecompanydrilledatotalof19grosswellsinArgentina,downfrom44in2023,with1oiland18gasdevelopmentwells[314]−Averagedailyproductionin2024was4,772barrelsofcrudeoiland440millioncubicfeetofnaturalgas,withgasproductionincreasingby21516 million and an operating profit of U.S.43millionforthefiscalyearendedDecember31,2024[259]−TGS′sregulatedsegmentrevenuesreached427 million, a 249% increase from 2023[408] - TGS's midstream segment revenues totaled 215million,a97292 million, representing 89% of total revenues, a 103% increase compared to 2023[431] - Business development revenues were U.S.$38 million, accounting for 11% of total revenues, reflecting a 115% increase from 2023[432] Regulatory and Compliance - SE Resolutions No. 9/24 and No. 99/24 established increases of 73.9% and 25% in remuneration values for spot generation transactions[291] - The Independent Reserves Engineers Firm audited reserves estimates to conform to SEC guidelines, ensuring "reasonable certainty" about recoverability under current economic conditions[357] - The demand for electricity reached a new all-time high of 29,653 MW on February 1, 2024, exceeding the previous peak by 2%[430] - Transener recorded 0.35 failures per 100 km of line at the end of 2024, maintaining service quality consistent with international standards[430] - Transener's transparent remuneration policy has led to the continual renewal of most contracts, reflecting high customer satisfaction[435]
Pampa Energia(PAM)2025-04-16 15:46