Rincón de Aranda Production Ramp-Up
Production at Rincón de Aranda has significantly increased, with oil production reaching 14,400 barrels per day in Q3, nearly tripling from Q2 levels. The expectation is to exit 2025 producing 20,000 barrels per day and reaching 45,000 barrels by 2027.
Record Gas Production
The company achieved a new all-time high in gas production of 17.6 million cubic meters per day in July, driven by Sierra Chata's peak performance.
Strong Financial Performance
Adjusted EBITDA reached $322 million, a 16% increase year-on-year, largely attributed to Rincón de Aranda and higher B2B sales.
Share Repurchase and Stock Performance
Management repurchased 1.5% of the company's share capital at $59 per ADR, with the stock now trading close to $90.