YPF’s balance improved – it earned $ 94,000 million

The company YPF obtained in the second quarter of 2022 a net profit of 94,000 million pesosan increase in production higher than forecasts at the beginning of the year and announced an increase in investments that would exceed 4,000 million dollars.

Despite the improvement in the numbers, the shares of the oil company, whose 51% is in the hands of the Argentine state, have failed to take flight: they are listed on the $ 4 per share on the New York Stock Exchangea quarter of what they were worth before the PASO of 2019. This in a context in which the price of a barrel of oil remains close to 90 dollarsone of the highest prices in recent years.

According to the report that YPF released to the market of consolidated results for the second quarter of 2022, the Ebitda (earnings before interest, taxes and depreciation) of the company reached 1,500 million dollars and increased the investments planned for this by 10%. year, 50% more than in 2021.

This economic increase has allowed the company to advance in the execution of its investment plan for 2022 that it will go from the 3.7 billion dollars initially planned to just over 4 billion dollars according to the new forecast.

In this way, the company informed the market that it had invested almost 1,700 million dollars in the first half of the year, a growth of over 55% compared to the same period in 2021.

For its part, the total production of hydrocarbons was equal to 504 thousand barrels equivalent per day, with an increase of 9% year on year, with a growth of 7% in crude oil and 10% in gas compared to the second quarter of 2021.

The projection of annual production was also increased from the initial 8% to 9% for the full year.or, in the total production of the company.

On this basis of growth, unconventional activity continues to be the main development axis of the company, currently accounting for 38% of total production.

The production of unconventional crude oil showed growth close to 50%, while unconventional gas increased by more than 80% compared to the same quarter of the previous year.

These results were achieved thanks to the operational improvements developed by the company in its fields in Vaca Muerta, “where new efficiency records were achieved in drilling and fracturing times of wells, being the second highest score for the number of new drilling of horizontal wells, “detailed the company’s official report.

On the downstream side – refining and marketing – domestic sales of fuels were 12.5% ​​higher than the pre-pandemic levels of the second quarter of 2019.

In the case of diesel, the company recorded a historical supply record that was provided through increases in the production levels of the three Industrial Complexes, which recorded an 8% higher processing level compared to the previous year.

Finally, in the financial sector, free cash flow was positive for the ninth consecutive quarter at 310 million dollars, accumulating a positive net flow of 701 million dollars in the first half of the year.