YPF reported a 15% rise in adjusted EBITDA to $4.65 billion for 2024, driven by rising fuel prices, increased oil exports, and expanded shale production. Oil output from Vaca Muerta rose by 26%, with exports to Chile jumping 174%. The company invested $5.04 billion, with a focus on non-conventional assets, and issued new bonds to refinance debt and acquire assets.
YPF, Argentina’s state-owned oil company, announced a significant 15% increase in its adjusted EBITDA for the year 2024, reaching $4.65 billion. This growth is attributed to recovering local fuel prices, a rise in oil exports, and the expansion of shale oil production within the company.
The firm’s oil production from the Vaca Muerta formation, one of the world’s largest shale resources, showcased a remarkable 26% increase, averaging 122,000 barrels per day (bpd) in 2024 and peaking at 138,000 bpd towards the year-end. Furthermore, YPF reported a substantial increase in its exports to Chile, averaging 35,000 bpd, marking a notable 174% rise compared to the previous year.
YPF’s investment for 2024 amounted to $5.04 billion, with 63.5% allocated to non-conventional assets in Vaca Muerta. In January 2024, the company issued $800 million in bonds and an additional $540 million in September. Furthermore, in January, it issued bonds worth $1.1 billion to refinance $757 million in debt and acquire a 54% stake in Sierra Chata, one of the most promising gas blocks in Vaca Muerta.
In summary, YPF’s 15% rise in adjusted EBITDA signals robust operational recovery driven by increased production and strategic investments in Vaca Muerta. The rise in oil exports, especially to Chile, along with significant capital injections in shale production, reflects YPF’s commitment to sustaining growth and enhancing its market position.
Original Source: www.tradingview.com
