YPF, Argentina’s state oil firm, reported a 15% increase in 2024 adjusted EBITDA to $4.65 billion, attributed to rising fuel prices and expanding shale oil production. Oil output from Vaca Muerta increased by 26% to 122,000 bpd, while exports to Chile surged 174%. YPF plans to invest $5.04 billion, focusing on non-conventional assets.
Argentina’s state-owned oil company YPF announced a 15% increase in its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2024, reaching a total of $4.65 billion. This growth is primarily linked to higher local fuel prices, increased oil exports, and the expansion of shale oil production in the region.
Notably, oil production from the Vaca Muerta formation, a key shale oil and gas area, surged by 26%, averaging 122,000 barrels per day (bpd) in 2024, with peak production hitting 138,000 bpd in the latter part of the year. Additionally, exports to Chile increased significantly, averaging 35,000 bpd, which is a remarkable 174% rise from the previous year.
YPF projected total investments for 2024 at $5.04 billion, with 63.5% allocated to the development of non-conventional assets in Vaca Muerta. The company also revealed its capital-raising activities, including the issuance of $800 million in bonds in January and $540 million in September 2024, along with another $1.1 billion in January 2025. These funds were intended for refinancing existing debt and acquiring a 54% stake in Sierra Chata, a promising gas block in Vaca Muerta.
YPF’s reported 15% increase in adjusted EBITDA indicates robust financial performance driven by higher fuel prices and expanding production capabilities. The significant rise in oil exports and production from Vaca Muerta exemplifies the company’s strategic focus on shale resources. Furthermore, substantial investment in non-conventional assets positions YPF for sustained growth in the future, supported by a strong bond issuance.
Original Source: www.tradingview.com
