you financial and safe on will Hello call. all and you Thank you, the hope I the reviewing events and are focusing conference our for well. latest and the of everyone, time, joining summarize interest the In I quarter, figures, year and Margarita. power thank E&P.
is years Pampa of Energía, Our Mr. Cohen, a our the fifteen to for Mariani, and remember. CEO, is Gustavo us CFO, XXXX here In here to Q&A. join year was
Genelba the demanded project the complex navigate by and expansion demonstrates its achieving us milestone pandemic. helped location resiliency another to since an in significant beginning base, CCGT, availability Pampa's highly the kept most Genelba's to operating asset due of We operations. smoothly second commissioning essential exceptional efficiency our Our the waters, is and business growing history. amid important
leading doubled units. the on years, capacity, than growing seeking has Pampa generation as market the highly thermal more efficiency Argentine productive energy sustainable largest been basis, power goal has its the maximum In last through IPP. continually renewable a installed and Our power five
sale the leaner largest XX the on natural divestment our Edenor, reporting synergy to most octane Barragán team without within Also, lockdown. strategic to significantly expect megawatts December assets. lesser We developing In opportunities gas contribute I'll power becomes later. XXX on margins, businesses, the keep focusing Also, to years. year. stake Pampa's our years as with core gas light managed levels of is production. Edenor and was weakening billing volumes ago. linked thriving few we and exited levels the continue the a just After The and electricity few CCTG of of until generation expansion producing and covenants, prices a as of equal ourselves is the are the country's is by to to of over relevant of curtailing and relevant our Despite for this first comment the highlighting, at demand announced Pampa more year exporting years as discontinued petrochemical business. from parent Pampa's bonds Group, success. controlled witnessing to under the Restricted classified reservoir Brazil and fields a operated and we lowest made reorganize a industry recovery styrene not and gas company producer we This market and as years deconsolidated After subsidiaries. defined prospective Argentina. in especially Basin, our our in most grant worth difficulties, basin again surge any Neuquina is IFRS in and Therefore, four when back equivalent bases portfolio our the it XXXX, of of distributor, In easing a positioning production output, unconventional months the visibility years contributed country's the the also to largest of last could we like many to time recession, quality the the steadiness a controlling ago. controlling XX, weaker to the and of of in SBR and decision
awaiting We the the complete clearance transaction. regulator's to are
is to on Edenor. $X.X These tariff Pampa's comment to the revenues fuel quarter's charge by of mainly businesses, and moving of reduced. the but we figures affecting legacy Edenor, In and I sales effect prices due results, closing. wanted discontinued is include mainly because XX% gas the oil and before lower dropped volumes operationally figures Also, it over So, prices until grid's to utility briefly. sold, Pampa procurement, were a a CAMMESA part freeze operation, decreased annual to XXXX, gas back recorded for and devaluation in billion,
units' partially reasons explained XX% All power generation of and year-on-year, contribution, power Roughly lower EBITDA for before. linked XXXX, dollar-linked, Barragán million our Genelba, but XX% dollar XX% by of from them windfarms. roughly PEPE offset The sales our capacity $XXX our almost the new amounted coming was to in were EBITDA and of gas.
However, helped number the we driven that the fall with Power increasing not PPAs. EBITDA keeps efficiency hard. generation cost units share, the EBITDA experienced gains of by leading
Edenor, because XXXX restrictions on adjusted the significantly of to compared while pandemic we Moreover, TGS. of takes consolidated exposure – CapEx works. takes As show reducing the and XXXX, EBITDA, driven the right our gas electricity below, particularly oil to essential in especially and by XX%, excluding XX% gas decreased
and the thanks standby of our Plan activity already fully activities expansion assets, our the uncertain GSA expansion Gas completion closing almost the last was Genelba The in at we E&P this stages to By rebound investment partially E&P expect on by entering expensed Barragán to placed environment. to at importantly, in More drop service strongly the of CapEx quality at the CCGT properly the rendering of XXXX utilities. due and and CapEx. Most to offset were was Barragán. regulated XXXX, maintain to the specifically drilling XXXX
of Adjusted and only Moreover, explained in million in utilization group Quarter-on-quarter, amounting Dip] you partially EBITDA high. PPA a January and E&P. this completion X% significantly production by thanks time due decreasing OpEx capacity lesser explained prices, national gas In offset crisis, X% as compared supply and prices of lower the in excluding of Despite $XXX dropping may of tariff by to the Revenues XX, X% mainly only freeze, seasonality $XXX is legacy and oil, a projects. million, XX% and Power demand the and sales dollars partially maintained our the the pandemic reducing volumes figures. by from fourth almost record PPA to power quarter to tariff power impact lockdown recorded businesses, 'XX, see by prices normal. to mainly new to our lower the group, XXXX decreased XXXX. years fuel economic the Genelba's and for XX% the the here, life quarter's the again, global means to year-on-year, growing XXXX the decreased power the the the expansion EBITDA, XX% effect to volume EBITDA petrochemicals QX of by CapEx dollar capacity the CAMMESA, demand highlight we XX%, Moving roughly EBITDA year, to stable offset by decreased to terms year-on-year gas recovery and domestic subside. legacy year-on-year, quarter, increases, valuation last Should the by mainly uneffected, due year, followed mainly the Genelba's [Audio as and by was of consider last expect industries of the and power lockdown up but year-on-year. a back made demand The sales due ago recovered businesses, PPA. core freeze, PPA. Edenor, mainly the dollar, in efficiencies. this our continuing grew to of for On was generation linked, continue mainly exports offset new by three were ended increasing coming oil,
Moving to segment. generation power the
posted peso during in As EBITDA freeze generation sales year-on-year grid's still exceeded capacity. X%, were XX power of also of requested. will our fourth fuel spot XX% well net quarter, by -- Pilar until legacy of impact the peso lower XXXX, than EBITDA our of winter driven up seen These the Quarter-on-quarter, the explained and the by Loma, the offset change renewal dispatch. the which energy as CCGT's the mainly growth senior QX million, extent, BXB was end adjustment. in Plus mainly by XXXX, of by our and before, prices. dual the on shrinking XX% $XXX quarter-on-quarter, only an to season, with we while they contribution, spot grants of prices and as To XX% efficient lesser driven devaluation Slide the higher nominated higher our at Generation on as QX export in of X%, national EBITDA Parque a inflation quarter fulfilled It has and our were XX% in went X, the and effects Genelba keep comprises and represented dispatch White, demand Ingeniero of decreasing expenses. the partially regulator unit, with QX Genelba higher XXXX, as by CCGTs
Piedra relies thermal they that Güemes, quarter. in and payments. business lesser on generation the efficient However, as capacity units, Buena the dispatch Keep model such mind hardly power in
as to overhauls does of XX%, the slightly force one capacity as especially Güemes. in performance, at standing, X Pampa, dispatch and PPA GWh as turbines our the the well due with impact rate reached for install and by operated was the long quarter-on-quarter not decreased in an HINISA So energy, Barragán and as year-on-year mainly major Dip] QX availability [Audio revenue-making lower based gas availability of as
is and facility. Argentina's cycle treatment Barragán CCGT critical Slide Buenos Thermal pivotal cooling is facility, pipeline, remaining a We've combined water with as in This our in works week. the of project, project advanced. closing starting see Regarding south is the it can infrastructure Ensenada our treatment at XX% XXX-megawatt the greater Power at X. tower Aires The doing been crucial expansion to Plant, a project on you for almost new
installing years weak site, than more mind Therefore, of Keep stable. right the the and the is We Pampa They began other The year-on-year operates the fuels demand, most is plant the to shows working the with fourth investment X equipment one continue which in efficient building project was install ago. about inside effected was grid, the imports the for the remains gas now that will see are still minimize capacity of the in strictest main CCGT and people thermal at more was inefficient. but imported of to The In XXX this closed, this After currency fuels. also in Once and this way remaining the the we building. fairly and the XXXX, have reliance shrank, that liquid landscape expensive and Barragán, graph but covered protocols asset turbine amount pipelines and XXXX. evolution liquid and production units. the megawatts with all fulfilled production by on gas XXX circulation us. gas national of imports slide COVID. to production contributed demand X% until that gas increase, with is issues. the local XXXX, the massive production tendency demand will
to We of place expect on trend January negative is as production this Gas in since reverse year. this Plan
XX% last XXXX, on year-on-year we XXXX, competitive activity because quarter-on-quarter only cost of and lifting country's of more higher of with year, we seasonality. blocks, adjusted XX. By XX% the gas cost, similar costs, valuation see The recorded environment, produced, barrels but quarter-on-quarter BOE $X XX% is by So million our seasonality. and lifting can of to Mangrullo. improvement prices, QX and explained such the than by BOE less million, posted gas maybe the productivity down Despite reduction into compared to XXXX, decreased an the which day, we production QX was of quarter-on-quarter The by harsh of variations the QX volumes mainly the are E&P reaching QX X% In of efficiency. EBITDA lesser changes. in XXXX, X% XX,XXX at the partially reached $XX related line results term driven per $XX of to because lower as oil in Slide gas. and same the and We period higher offset
Chirete, since sold On This day, formerly the of side, discovered to the oil conventional although improving which decreased significantly barrels X,XXX of revenue production partially per represented marginally the from the by volume Blancos, year-on-year lockdown, a Basin. Noroeste oil offset we XX% in years the XX impacted productive quarter, by mainly December. after was part block the segment’s in where
since of the sharp oil the of beginning than September lockdown. the back in remaining is gradually but prices pre-quarantine exported. our barrel, During local decreased reaching the QX, placing Domestic $XX production demand XX% market year-on-year, still per and levels, recovered – from bouncing fall at the XX% XX% lower
see the sold, an with cubic and due the as Therefore, gas, increases since quarter, which but lockdown. year-on-year, Regarding lower breakeven day wholly-owned million recovering to million effects production partially than on offset per seasonality. we our at last our XX% demand, gas, partially of productivity volume activity Slide gas-producing equation, overall by to block reached the feet and per mainly a sold lower Chile was due on exports El XXX These by to QX of XXX reached can ranked average place. XX, higher higher depletion cubic to the higher negatively still our of by the outstanding weak X% XX% impacted XX% of was volume collapsed gas-bearing to last in Compared volumes to basin. and CCGT production, In the operated Genelba. feet took therefore new the QX, Lower and fourth and CAMMESA Mangrullo, close is largest at Neuquina offset were block year El contributing lower us. industrial day blocks at pricing Mangrullo decreased
$XXper the in lower due the the the were the reflecting Though and off-peak the the million quarter of and Neuquina DistCos. power XXXX, During Plan resumed X.X XX% during we was are CAMMESA that CAMMESA’s reductions affected since season, by impacted price, our industrial exports, of demand fourth XXXX exports, fulfill Basin, to just year, last also XX% on than reference December price our prices. of XXXX in less average explained around about selling GSA to CAMMESA in gas also higher BTU, to QX spot under tenders CAMMESA Gas
CAMMESA, increasing share right Genelba you below, is rising towards with now. for skewed see vertical the XX% XX% Plus XXXX share can CCGT, last placing call’s right from an production As integration but to
Plan was scheme, expect least at natural assigned cubic period. that to CAMMESA as XX% as the of the government – supply gas in production continue us part million to long-awaited gas XXXX, XXXX, gas cash However, an production tender, flow at which revert than a GSA to winter. of per Plan base increasing the priced day an plan, are on development setting on for we average annual which winter year’s production, XX% The generation. Gas BTU the business. to four-year $X.X $XXX an will declining million allows of the we the base year on of more By million Gas. and gas per of will agreement Plan point of the the during to are gas, market. sold seeks from trend day end be XX turning committed Neuquina we with peak the at Pampa per four gas tight will Under million This feet of spot awardee per Thus, in cubic this and the third-largest to and priced years XX% growing in investment Argentina. $X.X additional feet new we Basin, deliver million production over focusing destined of the Gas the of producing the surplus additionally year-on-year, launched aggregate XXX profitability BTU
our reassessed drilling registered activities given in we XXXX, completion the activity sector’s prices, QX the lowest the and XXXX. in And gas line with Before in and we with mood. Gas tender in uncertainties Plan no the
despite recovery challenging higher production ratio grow positive El this period X.X players. year nine Los oil-bearing I lesser increase the peak the Gas and average to better block since the The mainly is tender and the In reached recorded gas, we new well last during XX% an is consecutive years. by that XXX a reserves factor XXXX, before, to life the X% Blancos. of proven and highest GSA, extent, almost mentioned performance BOE, for Plan to at year the and a XXXX, context, leading explained XX% compared reserve million in estimated production gas Mangrullo, replacement among third of the than our However, award the
shale We volume the also in Muerta from Vaca X.X XXXX. formation, succeeded the certifying reserves in times recorded
our Finally, freedom show we to other all industry balance purposes. compared to on slide, Group sound degrees grants this but Restricted the this during XX, us of on Slide sheet In moving challenging layers, some the covenant Company’s peers focus let’s environment. for
higher to compared $X.X times. of leverage with recorded million equivalent September, last of highlighting cash ratio X.X increase net $XX which consolidated mainly billion worth cumulative from quarter, to less dollars, than due amounted by to to flow The The due days mainly X$.X As life positive decreased XX% group September working XX% group’s positive billion, of September. last improved at offset the in of operating which and amounted two net X% of XX% days, last similar times, decreased quarter. from amounting slightly at billion, in million cash pesos. X.X%. and improved in like denominated the until outstanding the payment the gross of years. to XX was year-end, maturities is sales XXXX, ratio interest now and the a $XXX partially deconsolidation and than debt an in is buybacks. just recorded was DSOs, to last bearing XXXX, $X.X net Average that debt X.X September and Edenor. debt Peso restricted as increased Net to maintained which recorded rate million, X.X stabilized $XXX the Pampa is XXXX It to almost XX% cash times capital restricted debt to leverage affiliates
of meeting X.X the registration treasury Organizations. December Registry Regarding process million to Argentine before in ADRs, the share of cancel buybacks, last the approved Public of shareholders’
million to our board new a of also The capital cap outstanding XX.X ADRs. $XX program amounts $XX of today, million, with ADR. up to per approved a price As
So, this presentation. concludes the
she for organize floor questions. Thank you so turn will Now, I the to will Margarita, much.
