YPF Forecasts 15% Increase in 2024 EBITDA to $4.65 Billion

YPF, Argentina’s state oil firm, projects a 15% rise in 2024 adjusted EBITDA to $4.65 billion, fueled by rising fuel prices, increased oil exports, and enhanced shale oil production from Vaca Muerta, which saw a 26% production increase.

Argentina’s state-owned oil company, YPF, announced a 15% increase in its adjusted EBITDA for the year 2024, projecting earnings of $4.65 billion. This growth is attributed primarily to recovering local fuel prices, an increase in oil exports, and the expansion of its shale oil production capabilities.

YPF reported that oil production from the Vaca Muerta formation, one of the largest shale oil and gas regions globally, increased by 26%, averaging 122,000 barrels per day in 2024. In the year’s final months, production reached up to 138,000 barrels per day.

The company’s export figures to Chile indicated considerable growth, with an average of 35,000 barrels per day, representing a remarkable increase of 174% year-over-year. YPF’s investment target for 2024 was set at $5.04 billion, of which 63.5% was allocated to developing non-conventional assets in Vaca Muerta.

In its financial maneuvers, YPF successfully issued $800 million in bonds in January 2024, followed by an additional $540 million in September. Furthermore, it raised another $1.1 billion in bonds this January, aimed at refinancing $757 million in existing debt and acquiring a 54% stake in Sierra Chata, a promising gas block within Vaca Muerta.

In conclusion, YPF’s financial outlook for 2024 demonstrates significant growth, driven by enhanced production in Vaca Muerta and increased export activities. The company’s investment strategy reflects a commitment to expanding its operations in shale oil and gas, aiming for sustainable development in the sector. This financial performance underscores YPF’s strategic positioning within the global energy market.

Original Source: www.tradingview.com