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 first quarter of 2022 (Q1 22):

  • The production level reached 57.5 thousand boe/d (barrels of oil equivalent per day), corresponding 91% to natural gas and 9% to crude oil
  • The 315 million cubic feet 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$3.5/million BTU

Moreover, Pampa’s total proven reserves (‘P1’), developed and undeveloped, as of December 31, 2021 is 157 million boe, corresponding 92% to natural gas and 8% to liquids. These P1 reserves are 100% located in Argentina, being 61% developed and 39% 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 7,970 527,870 96 92%
Proved undeveloped 4,655 338,671 61 92%
Total proved reserves 12,625 866,541 157 92%


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

Technical Data Q1 21 Q1 22
Number of productive wells in Argentina 876 888
Average gas production in Argentina (million cubic feet/day) 237 315
Average oil production in Argentina (thousand bbl/day) 4.2 5.1
Total average production in Argentina (thousand boe/day) 43.8 57.5
Average gas price in US$/million BTU 2.8 3.5
Average oil price in US$/bbl 55.4 69.0

Notes: Q1 21: first quarter 2021.

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
Productive Blocks Outside Argentina
Exploratory Blocks in Argentina