Manantiales Behr is among Argentina’s largest conventional fields, producing around 25,000 barrels per day, approximately 20% of Chubut’s oil output. The asset features complex geology and employs tertiary recovery techniques, such as polymer injection enhanced oil recovery (EOR), to maintain field productivity amid natural reservoir decline. Pecom, which already operates nearby assets acquired in 2024 for $114.5 million, anticipates growing its daily crude production to nearly 35,000 barrels, positioning itself as the country’s second-largest heavy crude oil producer behind Pan American Energy.
The purchase includes associated oil transportation concessions over key pipelines serving Comodoro Rivadavia and linked infrastructure. Pecom’s $150 million capital boost, provided by its principal shareholder Santa Margarita LLC, is aimed at strengthening its financial structure and funding operational expansions in the historical Golfo San Jorge basin. The company’s strategy focuses on maximizing the value of mature fields through operational efficiencies and advanced extraction technologies, diverging from the current industry emphasis on low-cost shale reserves.
This transaction reinforces the Pérez Companc family’s strategic reorganization and return to upstream production after more than two decades, reflecting evolving private sector expectations influenced by price dynamics and currency factors documented in Argentina’s Relevamiento de Expectativas de Mercado (REM).
This article was curated and published as part of our South American energy market coverage.
