Seeking Alpha

Argentina's YPF ups Q4 profit by 88% as production rises

  • YPF says Q4 profit surged 88% to 1.9B Argentine pesos ($241M) on higher revenue from sales and production, beating analysts’ estimates.
  • YPF also says it boosted crude production by 6.3% Y/Y while natural gas output rose 10.2%.
  • YPF produces ~35% of Argentina's oil and gas and accounts for more than half of the fuel sold in the country.
  • Earlier this week, YPF said it signed two contracts totaling ~$1.2B to lease 15 drilling rigs to develop Vaca Muerta, which contains an estimated 27B barrels of shale oil; Helmerich & Payne (HP) will provide 10 of the rigs.
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Comments (3)
  • StepUp
    , contributor
    Comments (506) | Send Message
     
    I love my Helmerich & Payne (HP)
    7 Mar 2014, 07:05 PM Reply Like
  • strougo
    , contributor
    Comments (146) | Send Message
     
    Ypf is loaded with assets but the govt has a gun loaded at its head
    10 Mar 2014, 01:17 AM Reply Like
  • berrybob
    , contributor
    Comments (3) | Send Message
     
    Speaking of pointed guns, SA OPEC member Venezuela is in such political turmoil it well may begin to slow oil exports to the point that only Chinese loans will continue to be serviced. OPEC members KSA, Iraq, Iran, UAE and now Qatar are waging serious proxy (with each other) war in Syria. BTW, that Syrian situation is of far greater importance to US interests than Ukraine.
    Nigerian problems with terrorism has already slowed exports. Watch for requests of US military intervention.

     

    Argentina's oil company YPF is getting funding from no less then four international oil companies to exploit one of the biggest shale resources worldwide.
    It's safe to say, Catholic Argentina may, second only to North America, and Australia, one of the safest places on earth to gather oil and gas.
    10 Mar 2014, 10:27 AM Reply Like
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