We operate with excellence, guided by an entrepreneurial team and a pioneering vision.
We operate with a long-term vision, developing the Vaca Muerta formation, one of the world's most significant unconventional resources, with a focus on innovation and technology.
We operate with a strong commitment to people’s safety and process integrity.
~1,490 ready-to-drill locations in Vaca Muerta and 462 net wells on production at the end of Q2-26
Productivity of shale oil wells among best-in-basin
YE-25 proved reserves were 588.1 Mmboe (89% oil)
Crude oil takeaway capacity of 162 Mbbl/d in pipelines
Crude oil treatment capacity of 197 Mbbl/d (103 Mbbl/d in the operated blocks)
Q2-26 total production was 156.1 Mboe/d
Exported 72% of oil sales volumes during Q2-26, with 100% of total volumes sold at export parity
4.5 $/boe lifting cost in Q2-26, down 68% since 2018 1Lifting cost includes production, transportation, treatment and field support services; excludes crude oil fluctuations, depreciation, depletion and amortization, royalties and other, sales costs, exploration costs, general and administrative costs, Other operating revenues, Other operating expenses and Other non-cash expenses related to the transfer of conventional assets
Flat and agile organization, led by an experienced oil & gas management team
Sound balance sheet with 605 $MM in cash, and a pro forma net leverage ratio of 1.25x, as of Q2-26 1Pro forma values calculated as if Bandurria Sur and Bajo del Toro had been acquired on May 1, 2025
LTM Adjusted EBITDA was 2,172 $MM (2,444 $MM pro forma) 2Adj. EBITDA: Profit for the period, net + Income tax (expense) / benefit + Financial income (expense), net + Depreciation, depletion and amortization + Income (loss) from investments in associates + Impairment of long-lived assets + Gain from business combination + Gain from asset disposals + Restructuring expenses + Gain related to the transfer of conventional assets + Other non-cash costs related to the transfer of conventional assets
1 Pro forma values calculated as if Bandurria Sur and Bajo del Toro had been acquired on May 1, 2025
2 Adj. EBITDA: Profit for the period, net + Income tax (expense) / benefit + Financial income (expense), net + Depreciation, depletion and amortization + Income (loss) from investments in associates + Impairment of long-lived assets + Gain from business combination + Gain from asset disposals + Restructuring expenses + Gain related to the transfer of conventional assets + Other non-cash costs related to the transfer of conventional assets
3 Adj. EBITDA Margin: Adj. EBITDA / (Total Revenues + Gain from Export Increase Program – Sea freight selling expenses + Commodity risk management contracts)
Adj. EBITDA margin of 70% at 89.4$/bbl realized oil Price 3Adj. EBITDA Margin: Adj. EBITDA / (Total Revenues + Gain from Export Increase Program – Sea freight selling expenses + Commodity risk management contracts)
Strong safety track record with TRIR below 1 since 2020
Top decile global performance in GHG emissions intensity, with 6.8 kgCO2e/boe in 2025
Aiming to generate enough carbon credits to match the size of our residual carbon footprint by 2026 through the development of our own NBS projects
P1 reserves at YE 2025
588 MMboe
89% oil
Production Q2-26
156.1 Mboe/d
~257,000 net acres in the Vaca Muerta formation
Up to 1,954 identified well locations
Potential upside by de-risking additional landing zones
