Additionally, YPF highlighted that the largest number of horizontal wells were completed since the development of Dead cow.
On the downstream side, sales Domestic fuels reached pre-pandemic levels with an expansion of 22% in gasoline and 8% in diesel compared to the previous quarter.
On the other hand, the company remarked that it accelerated its investments; During the third quarter, it invested US $ 700 million, which represents a growth of 20% compared to the previous quarter, almost tripling the levels of the third quarter of 2020.
The Financial income for the July-September period, they climbed 8.1% compared to the previous period and 55.6% year-on-year to reach US $ 3,621 million.
The gains meant a profit of US $ 0.59 per sharen. Likewise, the profit before financial expenses (EBITDA) was US $ 1,154 million, thus exceeding the threshold of US $ 1,000 million for the second consecutive quarter.
Finally, YPF’s quarterly report showed that free cash flow was positive for the sixth consecutive quarter, accumulating US $ 740 million until last September 30, which allowed to reduce the company’s net debt by US $ 621 million in the first nine months of the year and achieve a healthy net debt ratio of 2 times EBITDA.
It should be noted that Vaca Muerta is the fourth world reserve for shale oil and the second for unconventional gas. Therefore, it represents one of Argentina’s hopes to increase its energy production and reduce imports.
Source From: Ambito
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