Argentine integrated energy company pairing Neuquen upstream (Agua del Cajon gas, Vaca Muerta acreage) with owned thermal and wind power generation — a gas-to-power model largely insulated within Argentina's regulated market.
Small-cap with concentrated family control; economics driven by Argentine energy policy and FX. Flags: Argentina macro/FX/capital controls, regulated tariffs, upstream a minority of a power-heavy mix.
Its EV/EBITDA of 9.8x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of -3.6% is lower than the 6.5% median, and at $10.00/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Capex S.A. scores 29/100, strongest on asset quality (55/100). Sub-scores: value 25, quality 55, growth 16, risk 93 (higher = riskier).
Capex S.A. holds approximately 0.1 billion boe of proved (1P) reserves with FY2025 production of about 16 thousand boe/d (65% liquids), a reserve life of roughly 16.8 years. Break-even: ~$45 (corporate breakeven) — Integrated gas-to-power model; upstream gas feeds owned generation, buffering commodity swings.
For Capex S.A., no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Argentina | 100% | 80 | FX controls, export taxes, macro instability despite Vaca Muerta upside. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Agua del Cajon | Argentina | Gas | Core upstream gas block |
| Vaca Muerta acreage | Argentina | Shale | Development option |
| CT Agua del Cajon | Argentina | Power | Thermal generation |
| La Castellana / wind | Argentina | Power | Renewable generation |
| Diadema (Chubut) | Argentina | Oil/wind | Legacy oil + wind |
| Gas marketing | Argentina | Gas | Domestic sales |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 26 | 26 | 25 | 25 | 16 |
| Proved reserves (bnboe) | 0.09 | 0.08 | 0.08 | 0.08 | 0.10 |
| Revenue ($bn) | 0.4 | 0.5 | 0.5 | 0.5 | 0.3 |
| EBITDA ($bn) | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 |
| Net income ($bn) | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 |
| Free cash flow ($bn) | 0.0 | 0.1 | 0.0 | 0.0 | -0.0 |
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✓ FY2025 figures verified against primary sources:
↗ Compare CAPX against 141 peers in the interactive screener