Pampa Energia Announces First Quarter 2024 Results

BUENOS AIRES, ARGENTINA / ACCESSWIRE / May 7, 2024 / Pampa Energía S.A. (NYSE:PAM)(BCBA:PAMP), an independent company with active participation in the Argentine electricity and gas value chain, announces the results for the first quarter ended on March 31, 2024.

Pampa's financial information adopts US$ as functional currency, converted into AR$ at transactional FX. However, Transener and TGS adjust their figures for inflation as of March 31, 2024, which are expressed in US$ at the period's closing FX. The previously reported figures remain unchanged.

First quarter 2024 (‘Q1 24') main results¹

7% year-on-year sales decrease, recording US$401 million² in Q1 24, explained by a drop in spot and petrochemical prices and lower gas exports and crude oil sales, partially offset by higher domestic gas sales due to better demand and the commissioning of Presidente Nestor Kirchner Gas Pipeline ('GPNK').

Operating performance highlighted by growing gas production:

Pampa's main operational KPIs				Q1 24				Q1 23			Variation
Power	Generation (GWh)			5,928				5,760				+3	%
	Gross margin (US$/MWh)			20.2				20.8				-3	%
Oil and gas	Production (k boe/day)			73.1				57.5				+27	%
	Gas over total production			94	%			91	%			+3	%
	Average gas price (US$/MBTU)			3.2				4.0				-18	%
	Average oil price (US$/bbl)			68.6				67.7				+1	%