YPF boosts production as gas output soars

摘要

Argentina’s state-controlled YPF boosted oil and natural gas production by 13.5pc to 560,100 b/d of oil equivalent (boe/d) last year. Crude production rose by 5pc to 244,600 b/d, while gas output soared by a quarter to 1.5bn ft3/d (15bn m3/yr). Natural gas liquids (NGLs) output rose by 1pc to 48,700 b/d. The increased production helped lift YPF’s net profits by nearly 60pc to 9bn pesos ($1.03bn), despite a 28pc fall in profit in the fourth quarter from a year earlier to Ps1.38bn. YPF boosted its proven reserves by 12pc — “the highest [percentage increase] in the company’s history”, the firm says — to 1.212bn boe, a reserves replacement ratio of 163pc.