Aconcagua Energía positioned itself as the sixth producer in Argentina

2023-11-14 13:15:59

The independent company of national capital, Aconcagua Energía, presented the operating and financial results for the third quarter of the year with robust performance in most of its segments. Not only did it increase production and revenue, but it also reduced operating costs. It positioned itself as the sixth conventional oil producer in the entire country.

According to what they reported, the total production during the third quarter reached 13,575 equivalent barrels per day. This means a jump of 253% in the case of oil, and 2,107% in gas.

The firm achieved an adjusted Ebitda of 10 million dollars in the quarter under analysis, which represented a jump of 699% year-on-year. Also in the accumulated of the first nine months of the year reached 30 million dollarswhich is equivalent to a jump of 593% over the same period in 2022.

Regarding sales income for the period, the firm announced that it was $34 million, 577% higher than the same period last year.. While accumulated sales as of September amounted to 95 million dollars, 489% higher than sales for the same period in 2022.

million dollars were the sales revenues recorded by the firm in the third quarter.

Sales of liquid hydrocarbons increased by 194% in the domestic market and a jump of 417% in oil exports. Regarding gas, the increase in sales to the domestic market was 832%.

In the third quarter, Aconcagua jointly invested with its partners some 29 million dollars in infrastructure, workovers and well drilling, which represented a jump of 1,111% compared to the disbursements made in the same quarter of last year.

million dollars are the disbursements that the firm plans to make in the accumulated period of 2023.

In the accumulated of the first 9 months of the year, The firm completed investments of 81 million dollars, 22.7% higher than the planned 66 million dollars. In parallel, Aconcagua indicated that they expect to reach accumulated disbursements of 100 million dollars by the end of the year.

To achieve this new goal, Aconcagua consolidated a fleet of 9 active flushby/pulling/workover equipment (1 additional to the previous quarter), and a drilling team. Of that total, six flushby/pulling/workover rigs and one dedicated drilling rig were distributed in Cuenca Neuquina, and two pulling/workover rigs in Cuenca Cuyana.

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