Filing Details

o

Rule 13d-1(b)

x

Rule 13d-1(c)

o

Rule 13d-1(d)

CUSIP No. 697660207

Page 4 of 8

Item 1(a)

The name of the issuer is Pampa Energía S.A., a sociedad anónima organized under the laws of the Republic of Argentina (the “Company”).

Item 1(b)

Address of Issuer's Principal Executive Offices:

The Company’s principal executive offices are located at Maipú 1, C1084ABA, City of Buenos Aires, Argentina.

Item 2(a)

Name of Person Filing:

This statement is filed by:

(i) PointState Capital LP, a Delaware limited partnership (“PointState”), which serves as: (1) the investment manager to SteelMill Master Fund, LP, a Cayman Islands limited partnership (“SteelMill”),  PointState Fund LP, a Delaware limited partnership (“PointState Fund”), and Conflux Fund LP, a Delaware limited partnership (“Conflux”); and (2) managing member of PointState Argentum LLC, a Delaware limited liability company, which in turn serves as investment manager to PointArgentum Master Fund LP, a Cayman Islands limited partnership (“PointArgentum” and together with SteelMill, PointState Fund and Conflux, the “Funds”); and

(ii) Zachary J. Schreiber (“Mr. Schreiber”), who serves as managing member of: (1) PointState Capital GP LLC, a Delaware limited liability company (“PointState GP”), which in turn serves as the general partner of PointState; (2) PointState Holdings LLC, which in turn serves as the general partner of SteelMill and PointState Fund, and as the managing member of PointArgentum Holdings LLC, which in turn serves as the general partner of PointArgentum; and (3) Conflux Holdings LLC, which in turn serves as the general partner of Conflux.

PointState and Mr. Schreiber are hereinafter sometimes collectively referred to as the “Reporting Persons.”  Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.

Item 2(b)

Address or Principal Business Office:

The address of the business office of each of the Reporting Persons is care of PointState Capital LP, 40 West 57th Street, 25th Floor, New York, NY 10019.

Item 2(c)

Citizenship:

PointState is organized under the laws of the State of Delaware.  Mr. Schreiber is a citizen of the United States of America.

Item 2(d)

Title of Class of Securities:

Common stock of the Company, par value Ps. 1.00 per share (the “Common Shares”).

Item 2(e)

CUSIP Number:

697660207

Item 3

If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a:

(a)

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Broker or dealer registered under Section 15 of the Act,

(b)

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Bank as defined in Section 3(a)(6) of the Act,

(c)

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Insurance Company as defined in Section 3(a)(19) of the Act,

(d)

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Investment Company registered under Section 8 of the Investment Company Act of 1940,

(e)

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Investment Adviser in accordance with Rule 13d-1 (b)(1)(ii)(E),

(f)

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Employee Benefit Plan or Endowment Fund in accordance with 13d-1 (b)(1)(ii)(F),

(g)

o

Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G),

(h)

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Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act,

(i)

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Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940,

(j)

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Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

CUSIP No. 697660207

Page 6 of 8

Item 4

Ownership:

All calculations of percentage ownership herein are based on a total of 1,833,994,690 Common Shares issued and outstanding as of September 30, 2017 (which excludes 2,500,000 treasury shares), as disclosed in the Company’s Form 6-K (File No. 001-34427), filed with the Securities and Exchange Commission (the “SEC”) on November 17, 2017.

A.

PointState

(a) Amount beneficially owned: 130,225,450 Common Shares.

(b) Percent of class: 7.1%

(c)

(i) Sole power to vote or direct the vote: -0-

(ii) Shared power to vote or direct the vote: 130,225,450 Common Shares.

(iii) Sole power to dispose or direct the disposition: -0-

(iv) Shared power to dispose or direct the disposition: 130,225,450 Common Shares.

B.

Mr. Schreiber

(a) Amount beneficially owned: 130,225,450 Common Shares.

(b) Percent of class: 7.1%

(c)

(i) Sole power to vote or direct the vote: -0-

(ii) Shared power to vote or direct the vote: 130,225,450 Common Shares.

(iii) Sole power to dispose or direct the disposition: -0-

(iv) Shared power to dispose or direct the disposition: 130,225,450 Common Shares.

Item 5

Ownership of Five Percent or Less of a Class:

Not applicable.

Item 6

Ownership of More than Five Percent on Behalf of Another Person:

Other than as set forth herein, no other person is known to have the right to receive or the power to direct the receipt of the dividends from, or proceeds from the sale of, the securities reported in this Schedule 13G.

Item 7

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company:

Not Applicable.

Item 8

Identification and Classification of Members of the Group:

See Item 2.

Item 9

Notice of Dissolution of Group:

Not Applicable.

Item 10

Certification:

Each of the Reporting Persons hereby makes the following certification:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

By:

/s/ Zachary J. Schreiber

Name:

Zachary J. Schreiber