The state-owned company YPF has published a report on its performance in the year 2024, highlighting an incredible increase of 174% in its exports and an average shale production of 122,000 barrels per day, representing a 26% rise compared to the previous year, exceeding the goal of 120,000 barrels per day.
The company's EBITDA experienced a growth of 15%, driven by the recovery of local fuel prices, the increase in oil export revenues, and the expansion in shale oil production. YPF registered significant losses during the year, primarily due to approximately 300 million dollars attributable to old fields and 85 million dollars due to adverse weather conditions in Patagonia that affected conventional production.
In January, the company issued an international bond for 1.1 billion dollars to refinance debts and acquire 54% of Sierra Chata, a gas field block in Vaca Muerta. YPF consolidated its position as the leading oil producer in the region, with a 26% growth in production. The company's total investments reached 5.041 billion dollars, of which 63.5% were allocated to unconventional projects, mostly in Vaca Muerta.
During the year, YPF carried out two issuances of international bonds totaling 1.34 billion dollars. Shale reserves in Vaca Muerta increased by 13%, reaching 854 thousand barrels, allowing production to reach up to 138,000 barrels per day by the end of 2024. Oil exports, especially to Chile, averaged 35,000 barrels per day, marking a 174% increase compared to the previous year.
Overall, YPF reported a profit of 4.654 billion dollars during 2024, thanks to significant progress in Vaca Muerta.
