Exploration & Production (‘E&P’)


Pampa is one of the leading hydrocarbon E&P companies in Argentina, with presence in the country’s major basins, from which it obtains natural gas and crude oil. As of third quarter of 2020 (Q3 20):

Moreover, Pampa’s total proven reserves (‘P1’), developed and undeveloped, as of December 31, 2019 is 135 million boe, corresponding 90% to natural gas and 10% to liquids. These P1 reserves are 100% located in Argentina, being 52% developed and 48% undeveloped:

Proved Reserves Category (‘P1’) Crude Oil, condensate and NGL
(in thousand barrels)
Natural Gas
(in million cubic feet)
(in million boe)
% of Gas
Proved Developed 8,805 372,000 71 88%
Proved Undeveloped 4,746 359,083 65 93%
Total Proved Reserves 13,551 731,082 135 90%


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

Technical Data Q3 19 Q3 20
Number of productive wells in Argentina 900 839
Average gas production in Argentina (million cubic feet/day) 270 256
Average oil production in Argentina (thousand bbl/day) 4.8 4.1
Total average production in Argentina (thousand boe/day) 49.8 46.8
Average gas price in US$/million BTU 3.3 2.5
Average oil price in US$/bbl 49.2 40.4

Notes: Q3 19: third quarter 2019.

Productive Blocks in Argentina
Block Province Basin Stake Operator
El Mangrullo Neuquén Neuquina 100% Pampa
Sierra Chata 45.55%
Rincón del Mangrullo(1) 50% YPF
Río Neuquén Neuquén & Río Negro 33.07% & 31.42%
Estación Fernández Oro Río Negro 15% over 13 wells YPF (through Ysur)
Anticlinal Campamento Neuquén 15% over 9 wells Oilstone Energía
Rio Limay Este (former Senillosa) 85% Pampa
Los Blancos Salta Northwestern (‘Noroeste’)
Aguaragüe 15% Tecpetrol
La Tapera – Puesto Quiroga Chubut Golfo San Jorge 35.67%
El Tordillo
Gobernador Ayala Mendoza Neuquina 22.51% Pluspetrol
Rincón de Aranda – Veta Escondida Neuquén Neuquina 55% Pampa

Notes: (1) It does not include Vaca Muerta formation.

Productive Blocks Outside Argentina
Block Country Basin Indirect Stake Operator
Oritupano – Leona Venezuela Oriental 22% Petroritupano
Acema 34.49% Petrovenbras
Mata Petrokariña
La Concepción Lago Maracaibo 36% Petrowayu


Exploratory Blocks in Argentina
Block Location Basin Stake Operator
Parva Negra Este Province of Neuquén Neuquina 42.5% Pampa
Las Tacanas Norte 90%
Río Atuel Province of Mendoza 33.33% Petrolera El Trebol
Borde del Limay(1) Province of Neuquén 85% Pampa
Los Vértices(1)

Notes: (1) Under transfer process to GyP (exploration permit holder).