YPF reported a 15% rise in 2024 adjusted EBITDA to $4.65 billion, driven by local fuel price recovery, increased oil exports, and expanded shale oil production. Oil output in Vaca Muerta rose 26%, while exports to Chile increased by 174%. The company invested $5.04 billion, primarily in non-conventional assets, and issued bonds for refinancing and acquisitions.
YPF, Argentina’s state-owned oil company, announced a remarkable 15% increase in its adjusted EBITDA for 2024, reaching $4.65 billion. This growth is attributed to improved local fuel prices, increased oil exports, and enhanced shale oil production. YPF reported that oil output from the Vaca Muerta formation rose by 26%, averaging 122,000 barrels per day (bpd), with a peak of 138,000 bpd in recent months.
Furthermore, YPF’s exports to Chile surged, averaging 35,000 bpd, marking an impressive 174% increase from the prior year. The company’s planned investments for 2024 total $5.04 billion, with 63.5% designated for non-conventional resources within Vaca Muerta. YPF’s financial strategy included issuing $800 million in bonds in January 2024 and an additional $540 million in September of the same year, coupled with another $1.1 billion in bonds this January aimed at refinancing $757 million in debt and acquiring 54% of the promising Sierra Chata gas block in Vaca Muerta.
In conclusion, YPF has demonstrated substantial growth with a projected 15% increase in adjusted EBITDA for 2024, reaching $4.65 billion. The rising oil production from Vaca Muerta, along with significant improvements in export figures and strategic investments, showcases the company’s resilience and forward-looking approach in the energy sector.
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