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Pan American Energy

Company Summary

Description

PAE is the second largest producer of oil and gas in Argentina. PAE’s production in 2016 averaged 262,000 boe/d (108,000 b/d oil and natural gas liquids, and 891 million cubic feet of gas). PAE has total oil and gas reserves of 1.56 billion boe, including Bolivian reserves. PAE has operations in Argentina’s four main hydrocarbon basins – Golfo San Jorge, Neuquen, Noroeste and Marina Austral. These include operation of the Cerro Dragon field in the Golfo San Jorge basin and interests in the Vaca Muerta shale in the Neuquen region. PAE also has gas production interests in Bolivia. PAE has an 80% interest in and operates the Hokchi block in the shallow water Mexican Gulf of Mexico, awarded as part of Mexico’s Round 1.2 tender in September 2015. PAE employs more than 2,000 direct employees and a further 10,000 contractors. PAE is owned 60% by BP and 40% by Bridas Corporation.

Operational Regions

  • South America
  • Gulf of Mexico

Related Entities

Recent news

  • 9/14/2023 - TotalEnergies Plans to... (subscriber access)
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  • 9/12/2017 - BP & Bridas Combining... (subscriber access)

Company Transactions

Date: 3/31/2018
Type: Merger

BUYERS:
  • Pan American Energy
  • Pan American Energy Group
    • SELLERS:
  • Axion Energy
    • DETAILS:
    NOTES:
    BP has entered into a deal with Bridas Corporation to form an integrated energy company through the combination of Pan American Energy (PAE) and Axion Energy. The combined entity will be named Pan American Energy Group and will be the largest privately owned integrated energy company in Argentina. The Company will be owned 50/50 by BP and Bridas. Completion of the deal is set for early 2018.
    REGIONS:
  • South America