Argentina's YPF swings to billion-dollar profit as shale boom gathers pace
YPF•YPF reported a $1.2 billion third-quarter profit as revenue rose 41% year over year to $6.56 billion and adjusted EBITDA surged 84% to $2.50 billion. Shale oil production averaged 224,100 barrels per day, up 32%.
1. Profit and revenue rise
Argentina's state-controlled oil producer YPF swung to a $1.2 billion third-quarter profit as higher prices and shale output lifted earnings above analysts' expectations. Revenue increased 41% year over year to $6.56 billion, versus an LSEG analyst estimate of $5.80 billion, while adjusted EBITDA rose 84% to $2.50 billion, above the $2.25 billion consensus.
2. Shale expansion plans
Shale oil production averaged 224,100 barrels per day, up 32% from a year earlier, and accounted for 86% of YPF's oil output. The company expects to seek benefits in coming weeks under Argentina's RIGI investment incentive program for five Vaca Muerta projects representing about $44 billion in combined investment. YPF said the VMOS crude pipeline consortium, in which it owns 30%, expects first exports in early 2027.
