YPF reports a 15% rise in adjusted EBITDA for 2024 to $4.65 billion, driven by rising fuel prices, increased exports, and shale oil production from Vaca Muerta. Oil production surged 26% to 122,000 barrels per day, with significant export growth to Chile. The company is on track with a $5.04 billion investment plan, focusing heavily on Vaca Muerta’s non-conventional assets.
YPF, Argentina’s state-owned oil company, has announced a 15% increase in its adjusted EBITDA for 2024, totaling $4.65 billion. This growth is attributed to the rise in local fuel prices, increased oil exports, and enhanced shale oil production.
The production from Vaca Muerta, a notable shale formation, saw a 26% increase, averaging 122,000 barrels per day in 2024, peaking at 138,000 bpd in the year’s latter months. YPF also reported a remarkable 174% rise in exports to Chile, averaging 35,000 bpd compared to the prior year.
In terms of investment, YPF has projected $5.04 billion for 2024, with approximately 63.5% allocated to non-conventional assets in Vaca Muerta. The firm raised $800 million in bonds in January and $540 million in September 2024. Additionally, YPF secured another $1.1 billion in bonds this January, earmarked to refinance $757 million of debt and to acquire a 54% interest in Sierra Chata, one of Vaca Muerta’s promising gas blocks.
In conclusion, YPF’s strong performance in 2024 is characterized by significant increases in adjusted EBITDA, oil production, and export volumes, highlighting the effectiveness of its operational strategies. The company’s focused investments in Vaca Muerta, along with successful bond issuances, position it well for continued growth in the upcoming years.
Original Source: www.tradingview.com
