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Name | Symbol | Market | Type |
---|---|---|---|
Pampa Energia SA | NYSE:PAM | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.98 | 4.24% | 48.535 | 48.97 | 46.74 | 47.27 | 297,181 | 19:45:33 |
BUENOS AIRES, May 27, 2015 /PRNewswire/ -- Pampa Energia S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP "Pampa" or the "Company") informs that Petrolera Pampa and YPF S.A. ("YPF") signed an addendum to the investment agreement dated November 6, 2013 (the "Agreement"), related to the exploitation of Rincon del Mangrullo block (the "Block"), in which both parties have agreed to amend certain terms and conditions of the Agreement, mainly to add certain investments to those already involved in the Block.
Thus, upon completion of certain conditions precedent and as of January 1, 2015, the main amendments to the Agreement are the following:
Since the entry into force of this addendum, it is estimated that Petrolera Pampa will add approximately 300,000 m3 per day to its average production in the Block, which will represent an increase of over 35% of its current average production. Therefore, the committed investment of Petrolera Pampa for the period 2014-2017 in the Block would exceed US$350 million.
For further information, contact:
Ricardo Torres - Co-Chief Executive Officer
Gustavo Mariani - Co-Chief Executive Officer
Mariano Batistella - Special Projects Manager and Investor Relations Officer
Lida Wang - Special Projects and Investor Relations Associate
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autonoma de Buenos Aires, Argentina
Phone: +54 (11) 4809 9500
http://www.pampaenergia.com/ir
investor@pampaenergia.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pampa-energia-announces-an-addendum-to-the-investment-agreement-between-its-subsidiary-petrolera-pampa-and-ypf-related-to-the-rincon-del-mangrullo-block-300089959.html
SOURCE Pampa Energia S.A.
Copyright 2015 PR Newswire
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