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YPF plans big spending to boost oil and gas output

Published 10/26/2018, 05:19 PM
© Reuters.  YPF plans big spending to boost oil and gas output
YPF
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  • YPF plans to invest $4B-$5B per year through 2022 to significantly boost oil and gas production, CEO Daniel Gonzalez tells Reuters.
  • Argentina's state-controlled oil company expects to increase production by 5%-7% per year, with the largest increase in the Vaca Muerta formation, where YPF intends to invest $3.6B on infrastructure over the next five years, Gonzalez says, adding that the company hopes to speed up shale oil and gas extraction, with 1,700 wells drilled by 2023.
  • The company also plans to begin exporting gas to Chile and investing in offshore exploration in the Argentina’s Gulf of San Jorge on the southern Atlantic coast.
  • Gonzalez says YPF's plans will allow for a doubling of dividends every year over the next three years.
  • Now read: World Fuel Services Corporation 2018 Q3 - Results - Earnings Call Slides


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