The energy company celebrated the increase in its profitability. To a large extent, it is explained by higher seasonal gas sales, an increase in the production of shale hydrocarbons and a better local fuel price,
The company YPF presented its balance sheet this Thursday and announced that Its shale oil production grew by 36% in the third quarter of the year and its EBITDA financial indicator increased by 47%. In this way, it consolidates itself as an exporter of hydrocarbons.
According to YPF’s balance sheet, its production of shale oil averaged 126 thousand barrels per day during the third quarter. This represents a growth of 36% compared to the same period in 2023. With this increase, this type of oil already reaches 49% of the company’s total production.
Regarding the financial situation, the energy company announced that the EBITDA (a financial indicator that shows profitability) was 1,366 million dollars. This means an EBITDA growth of 47%, the company reported.
Dead Cow YPF South Pipeline
This growth is explained by higher seasonal gas sales, increases in shale hydrocarbon production and better local fuel prices. which partially offset higher costs and conventional production, especially in July, where adverse weather conditions in Patagonia affected YPF’s work.
In the chapter of the Medanito oil exports, YPF reported growth of 111% compared to the third quarter of 2023 and 37% compared to the previous quarter. On average, exports were 39 thousand barrels per day, 15% of total oil production.
What are the progress of YPF’s main projects?
The energy company with a state majority provided details of the status of its main projects: Andes and the construction of the Vaca Muerta Sur oil pipeline.
The Andes project This is a sale process of 55 “conventional” oil and gas exploitation areas entrusted to Banco Santander. YPF has already signed nine purchase and sale agreements for 25 areas for the transfer of the areas that make up the Neuquén Sur cluster with the company Bentia Energy, composed of the Al Norte de la Dorsal, Octógono Fiscal and Dadin Blocks. Added to this were seven areas located in the province of Tierra del Fuego and provincial approval for one of the clusters in Chubut.
Meanwhile, in the construction project of the Vaca Muerta Sur oil pipeline 50% progress was achieved in the construction of the first section (Vaca Muerta – Allen, 130 km), with a total investment of approximately 200 million dollars.
Source: Ambito
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