YPF achieved a new historic record in oil production in August.
YPF worker
porEditorial Team
Argentina
The main driver of YPF's growth was the production of unconventional hydrocarbons
YPF achieved a new record in its performance within the Argentine hydrocarbon sector during August, according to official data released by the Secretariat of Energy.
The company reached an operated oil production of 373,214 barrels per day, representing a 2.28% increase compared to July and constituting the highest level since the company began recording its historical series.
The Secretariat of Energy validated this data through the corresponding sworn statements for YPF's production chapter. Based on this information, various analysts estimated that the month's production amounted to 11.56 million barrels.
Trabajador de YPF.
This monthly growth was mainly explained by the momentum recorded in the Neuquén Basin, which contributed 85% of the company's total production. Within that region, the Vaca Muerta formation was key, representing 77% of the total barrels produced in August.
YPF's report coincides with record national figures released by the Secretariat of Energy. The agency reported that the country's oil production reached 826,800 barrels per day in August, the highest level since January 1999.
This record implied a 14.9% year-on-year increase and positions the hydrocarbon activity as one of the main drivers of national energy growth. YPF's participation and the strength of unconventional resources were decisive in achieving this result.
Meanwhile, natural gas production also recorded a significant increase. Official data reported a daily average rate of 158 million cubic meters, representing a year-on-year increase of 3.3%. This improvement is attributed to the expansion strategy promoted by the company and the Government, which allowed the extraction pace to be maintained and supply to be guaranteed in the main consumption centers.
Trabajador de YPF.
The Secretariat of Energy emphasized that this growth in exports replied to the sustained increase in production and the improvement in efficiency of leading companies such as YPF. These foreign currency revenues consolidated a positive impact on the national macroeconomy and established new standards in the sector's commercial relations.
The main driver of YPF's growth was unconventional hydrocarbon production, which reached 282,262 barrels per day, representing 75.6% of the total. Within this segment, shale contributed 280,266 barrels per day, with a monthly increase of 3.31%, while tight, with a production of 1,996 barrels per day, grew by 1.27% compared to July.
Meanwhile, conventional production showed a decrease. This segment recorded 90,953 barrels per day, equivalent to 24.37% of the total, with a drop of 0.74% compared to the previous month. This behavior reflects the growing trend of unconventional production versus the stagnation or decline of conventional production.
