Pampa Energía reported a 75% year-over-year increase in adjusted EBITDA to $415 million for the second quarter.
The scaling of the Rincón de Aranda shale oil project drove this performance. Strong results in the power generation sector further supported the growth.
The Argentine government recently approved the company’s inclusion in the RIGI investment incentive regime. Pampa Energía plans to construct a new $2.7 billion urea fertilizer plant to bolster long-term prospects.
Capital expenditures and net debt increased to fund these expansion projects. Analysts maintain a Buy rating, citing the market's underestimation of the Vaca Muerta shale formation's potential.