Pampa Energía Reports Q3 Profit of US$129 Million, Details Brent Hedge Use
What happened
Pampa Energía reported a net profit of US$129 million for the July through September quarter, an increase from US$23 million a year earlier, with sales rising 34% to US$790 million. The company used a Brent hedge, a contract that fixes oil prices in advance, which cut the realized oil price to US$55.7 a barrel; without the hedge, the realized price would have been US$84.0 a barrel.
From riotimesonline.com
Why it matters
The financial results show that power generation led the quarter's gains, with sales up 84%. The use of the Brent hedge allowed Pampa Energía to stabilize revenue streams despite volatility in oil prices, while the company continues to operate within the Argentine market.
Pampa Energía operates in Argentina's oil, gas, and electricity sectors, and its financial figures are adjusted alongside those of Transener.
From riotimesonline.com
Who's involved
- Pampa EnergíaArgentine energy company that posted quarterly financial results and utilized a Brent hedge.
- ArgentinaThe country where Pampa Energía conducts its energy generation and distribution operations.
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The entities involved
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Pampa Energía
Argentine energy company
Nothing else this week.
- Brent
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Argentina
country in South America