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

YPF forecasts a 15% increase in adjusted EBITDA for 2024, reaching $4.65 billion, due to rising fuel prices, oil exports, and shale production growth. Oil production from Vaca Muerta has increased significantly, with rising exports to Chile. Furthermore, the company invested $5.04 billion in 2024 with a focus on non-conventional assets and issued several bonds to refinance debt and acquire new assets.

Argentina’s state-owned oil company, YPF, announced a significant increase in its adjusted full-year earnings before interest, taxes, depreciation, and amortisation (EBITDA), which is projected to rise by 15% to $4.65 billion in 2024. This growth is primarily attributed to the recovery of local fuel prices, an increase in oil exports, and the expansion of shale oil production.

In 2024, YPF reported that oil production from Vaca Muerta, the world’s second-largest shale oil and gas formation, rose by 26%, averaging 122,000 barrels per day, with peaks of 138,000 barrels per day in recent months. Additionally, the company achieved an impressive 174% increase in its average exports to Chile, totaling 35,000 barrels per day.

YPF’s investments for 2024 are projected at $5.04 billion, with over 63.5% allocated to non-conventional assets in Vaca Muerta. In financing activities, the company raised $800 million in bonds in January and $540 million in September of the previous year. Furthermore, YPF issued $1.1 billion in bonds this January to refinance $757 million of its debt and to acquire a 54% stake in Sierra Chata, recognizing it as a promising gas field within Vaca Muerta.

In conclusion, YPF has demonstrated a robust performance for 2024, projecting significant growth in EBITDA, driven by increased oil production and exports. The investment strategy focusing on non-conventional assets highlights the company’s commitment to expanding its operations in Vaca Muerta, while recent bond issuances indicate a proactive approach to debt management and expansion endeavors.

Original Source: www.tradingview.com