Pampa Energia S.A. (NYSE:PAM) Q1 2024 Earnings Conference Call May 8, 2024 10:00 AM ET

Company Participants

Raquel Cardasz - Investor Relations
Lida Wang - Investor Relations and Sustainability Officer
Gustavo Mariani - Chief Executive Officer
Horacio Turri - Head, Exploration and Production
Nicolas Mindlin - Chief Financial Officer

Raquel Cardasz

Good morning, everyone, and thank you for waiting. I'm Raquel Cardasz from IR, and we would like to welcome everyone to Pampa Energia's First Quarter 2024 Results Video Conference. We would like to inform you that this event is being recorded. All participants will be in listen-only mode, during the presentation. After the company's remarks, there will be a Q&A session. Questions can only be submitted in writing through Zoom. [Operator Instructions]

Before proceeding, please read the disclaimer on the second page of our presentation. Let me mention that forward-looking statements are based on Pampa Energia's management beliefs and assumptions and information currently available to the company. They involve risks, uncertainties and assumptions, because they are related to future events that may or may not occur.

Investors should understand that general economic and industry conditions and other operating factors could also affect the future results of Pampa Energia and could cause results to differ materially from those expressed in such forward-looking statements.

Now I'll turn the video conference over to Lida. Please go ahead.

Lida Wang

Thank you, Raquel. Hello everyone and thank you for joining our conference call. I'll make a quick summary of Q1, you may find more details in our earnings release and financial statements.

Today, we are having a Q&A with our CEO, Mr. Gustavo Mariani; our CFO, Mr. Nicolas Mindlin, Mr. Horacio Turri, our Head of E&P and also Adolfo Zuberbuhler, our Finance Director.

Let's start with the quarter figures. After a soft Q4, gas and power demand recovered. Pampa delivered 31% higher gas production year-on-year and 32% quarter-on-quarter, thanks to the new gas pipeline online in August of last year.

Remember that Pampa was awarded 4.9 million cubic meters per day out of 11 of the pipeline's capacity. This is very important as this late summer bloom prevented the country from importing gas and firing alternative fuels.

Therefore, there is more local gas output, lesser FX outflow, a friendlier carbon footprint, and more power efficiency. Also, we kept boosting shale gas production, representing 40% of our total output of this quarter, a significant increase compared to last year's 14%.