The company said it celebrated the news, which will see Macri take over from incumbent President Christina Kirchner on December 10.
Andes is an oil and gas explorer and producer currently turning out about 3,200 barrels of oil equivalent per day (boepd) from six conventional fields in Argentina and two in Colombia.
Macri, who is seen as centre-right and more pro-business than his predecessor, is expected, by some, to scrap certain capital controls to promote foreign investment and has also pledged to negotiate with the country’s bond holders.
Andes said: "The board is confident Mauricio Macri's pro-business policies and administration will benefit the Argentinian oil and gas industry, and will attract foreign capital into the country.”
This is particularly important for the Vaca Muerta shale deposit, where Andes has around 250,000 net acres, with market analyst Wood Mackenzie expecting a doubling of production from the area by 2018.
"Macri supports changes that will promote foreign investment into the energy sector to reduce Argentina's energy deficit and eventually lead to energy independence," analyst Bill Newman said in a note.
"We believe these policies could attract investors that avoided Argentina during the Kirchner government."
The country’s oil and gas sector is host to one of the most significant shale resources outside the US.
Newman added: "The resource potential from Argentina’s emerging unconventional plays is large enough to attract new investment from major and super-major oil and gas companies.
"With the potential for increased competition, companies with established land positions could look more attractive."
Madalena Energy, rated by Mackie as a ‘buy’ with a target of C$0.70, is described by Newman as "best-positioned" to capitalise on the improving investment environment in Argentina, while he also repeats ‘buy’ recommendations for Americas Petrogas and Crown Point Energy.
“Madalena continues to focus on the appraisal of four potentially large resource plans including the Loma Montosa and Mulichinco tight sand plays and the Vaca Muerta and Agrio shale plays,” he said.
The analyst highlights that Madalena’s Coiron Amargo block appears to be in Vaca Muerta’s "sweet spot" and pointed to a November 2015 resource estimate which predicted some 91.5mln barrels oil equivalent at the project.
He also points to the nearby success of Chevron, Shell and YPF, which he says has de-risked the project significantly – with the chance of discovery now seen as 100%, and the chance of development set at 60%.
Newman added: "With the new government in place, some of the risks associated with the chance of development may have improved."