Recently renationalised earlier this year, the country's largest oil and gas firm saw net income fall 51% to 756 million Argentine pesos ($158.4 million) in the year-ago period.
That came as upstream exploration expenses increased 193.3% to 176 million pesos, including a 90 million peso charge from drilling the Jaguar well off Guyana, which had a "negative" result.
Upstream investment grew by 9.1%
