YPF 提振生产和债务

阿根廷国有能源巨头YPF SA第二季度总产量增加，主要是由于页岩油业务强劲，但该公司公布的净利润较低，而债务持续上升。

彼得罗·D
皮茨
哈特能源

阿根廷YPF SA在 2023 年第二季度提高了产量，主要是由于页岩油业务强劲，但该公司公布的净利润较低，债务不断增加。

该公司在 8 月 11 日的收益报告中表示，YPF 2023 年第二季度的碳氢化合物总产量为 513,100 桶油当量/天，环比增长 0.5%，较 2022 年第二季度的 503,700 桶油当量/天增长 1.9%。

YPF 表示，第二季度石油产量较 2023 年第一季度环比增长 1%，较 2022 年第二季度增长 6.9%。天然气和液化天然气产量环比基本持平。

页岩油产量增加推动了石油产量的增长，而在 YPF 继续推进三次采油技术战略的推动下，常规产量保持环比稳定。

“从这个意义上说，第三次生产与上一季度相比增长了 17%，与 2022 年同季度相比增长了 32%，这突出了 Manantiales Behr 区块，我们目前在那里运营着九个聚合物注射装置及其第三次生产占其总产量的 30% 左右，以及 Chachahuen、El Trebol 和 Los Perales 区块，我们在这些区块继续获得有希望的结果，”YPF 表示。

公司官员在与分析师举行的第二季度财报电话会议上表示，YPF 对页岩油活动的关注继续带来页岩油产量的稳健增长。

与 2022 年同季度相比，本季度页岩油产量增长了 28.1%，天然气产量增长了 10.2%。第二季度，YPF 页岩油总产量占公司综合总产量的 44.9%，而 2022 年第二季度为 38.7%。 2022 年第二季度。

YPF 报告称，与 2022 年第二季度相比，第二季度页岩相关业务取得了显着改善，已钻/完井水平井数量增加，达到 46 口、41 口，而已钻 38 口和 29 口。

YPF 的钻井速度也从 248 米/天提高到 260 米/天。该公司表示，该公司的压裂速度平均为 194 级/月，而此前为 204 级/月。

相关： 阿根廷计划提高产量，向智利出口石油

债务总额仍在上升

总部位于布宜诺斯艾利斯的 YPF 在新闻稿中表示，2023 年第二季度的净利润为 3.8 亿美元，比 2022 年第二季度下降 53.1%，这主要是由于石油变现和收入减少以及运营支出增加。

这家国有能源巨头表示，第二季度油价平均为63.40美元/桶，比去年同期下降2.5%。平均天然气价格为 3.90 美元/MMbtu，与去年同期相比相对持平。

截至2023年6月末，YPF的总债务达到78亿美元，比2022年6月末的71亿美元增长10%。该公司拥有约15亿美元的现金和短期投资，净债务为63亿美元。YPF的净杠杆率约为1.4倍。

YPF 将在 2023 年下半年面临 6.16 亿美元的债务到期，然后在 2024 年和 2025 年分别面临 12 亿美元和 17 亿美元的债务到期。

原文链接/hartenergy

YPF Boosting Production—and Debt

Argentina’s state-owned energy giant YPF SA boosted its total production in the second quarter, driven mainly by robust shale operations, but the company reported lower net income while its debt continues to rise.

Pietro D
Pitts
Hart Energy

Argentina’s YPF SA boosted its production in second-quarter 2023, driven mainly by robust shale operations, but the company reported lower net income and its debt keeps piling up.

YPF’s total hydrocarbon production was 513,100 boe/d in the second quarter 2023, up 0.5% sequentially and up 1.9% compared to 503,700 boe/d in the second quarter 2022, the company said in its Aug. 11 earnings report.

Oil production in the second quarter rose 1% sequentially compared to first-quarter 2023 and was up 6.9% compared to second-quarter 2022, YPF said. Natural gas and NGLs production was essentially flat sequentially.

Growth in oil production was driven by higher shale production, while conventional production remained sequentially stable, driven by YPF’s strategy that continues to advance tertiary recovery techniques.

“In that sense, tertiary production recorded an expansion of 17% compared to the previous quarter and 32% against the same quarter of 2022, highlighting [the] Manantiales Behr Block, where we are currently operating nine Polymer Injection Units and its tertiary production represents around 30% of its total production, as well as Chachahuen, El Trebol and Los Perales blocks, where we continue obtaining promising results,” YPF said.

YPF’s focus on shale activity continues to deliver solid growth in the shale production, company officials said during its second quarter earnings call with analysts.

Shale oil volumes were up 28.1% and natural gas increased 10.2% in the quarter compared to the same quarter in 2022. YPF’s total shale production represented 44.9% of the company’s total consolidated production in the second quarter compared to 38.7% in second-quarter 2022.

YPF reported notable shale-related improvements in the second quarter compared to second-quarter 2022, a rise in the number of horizontal wells drilled/completed, which reached 46 drilled, 41 completed—compared to 38 drilled and 29 completed.

YPF also saw a rise in drilling speeds to 260 meters/day compared to 248 meters/day. The company’s frac speed averaged 194 stages/month compared to 204 stages/month, the company said.

RELATED: Argentina Plans Ramp Up of Production, Export Oil to Chile

Total debt still rising

Buenos Aires-based YPF also reported a net income of $380 million in the second quarter 2023, down 53.1% compared to second-quarter 2022 owing mainly to lower oil realizations and revenues and higher opex, the company said in the press release.

The state energy giant said oil prices averaged $63.40/bbl in the second quarter, down 2.5% during the same period last year. Gas prices averaged $3.90/MMbtu, relatively flat compared to the same quarter a year ago.

YPF’s total debt reached $7.8 billion at the end of June 2023, up 10% from $7.1 billion at the end of June 2022. The company has approximately $1.5 billion in cash and short-term investments, resulting in a net debt of $6.3 billion. YPF’s net leverage ratio is approximately 1.4x.

YPF will face debt maturities of $616 million in the second half of 2023, and then $1.2 billion in 2024 and $1.7 billion in 2025.