Pan American Energy 2015

completed

Pan American Energy LLC is engaged mainly in exploration, development and production of oil and gas. Pan American Energy LLC, Argentine Branch (“PAE” or the “Company”) is the second largest oil and gas producer in Argentina and has blocks located in the country’s three major hydrocarbon basins – Golfo San Jorge, Neuquina and Northwest.IFC has been asked to mobilize a corporate loan facility of up to $400 million, including up to $100 million for its own account. The investment will partially fund its 2015/2016 capital expenditure program. The Project is focused on further development of PAE’s oil and gas assets in the Cerro Dragón block in the Golfo San Jorge Basin and in the Lindero Atravesado block in the Neuquén Basin (the “Project”) and will be financed with a combination of debt and internal cash generation. The Project will include activities covering drilling, secondary recovery, facility expansions, improvements, and parts of the 2015/2016 investment program that will support increasing oil and gas production. By the end of the Project, the planned activities are expected to increase PAE’s oil and natural gas production.