YPF reported a 15% rise in adjusted EBITDA to $4.65 billion for 2024, driven by recovering fuel prices, increased oil exports, and shale oil production growth. Oil output from Vaca Muerta rose by 26%, and exports to Chile surged by 174%. YPF also announced significant investments and bond issuances for further growth.
YPF, Argentina’s state-owned oil company, has reported a notable 15% increase in its adjusted EBITDA for the year 2024, reaching $4.65 billion. This growth is primarily attributed to the recovery of local fuel prices, an increase in oil exports, and the expansion of shale oil production operations.
In its assessment, YPF noted that oil production from the Vaca Muerta formation, which is among the largest shale oil and gas deposits worldwide, surged by 26%, averaging 122,000 barrels per day (bpd) in 2024. By the year’s end, production peaked at 138,000 bpd.
Additionally, the company’s export activities to Chile increased significantly, with an average of 35,000 bpd recorded—a remarkable 174% rise from the previous year. Investment in 2024 reached $5.04 billion, with 63.5% allocated for non-conventional assets in Vaca Muerta.
Furthermore, YPF successfully issued $800 million in bonds in January 2024, followed by an additional $540 million in September. This January, the company issued bonds worth $1.1 billion to refinance $757 million in debt and to acquire a 54% stake in Sierra Chata, a highly promising gas block within the Vaca Muerta region.
YPF’s significant increase in adjusted EBITDA reflects a robust recovery in local fuel prices and successful expansion in oil exports and production, particularly in the Vaca Muerta formation. The company’s strategic investments and bond issuances highlight its commitment to growth and development in non-conventional assets, positioning it advantageously in the competitive oil market.
Original Source: www.tradingview.com
