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YPF oil and gas production up in January

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Staff writer ▼ | March 6, 2014
YPFArgentina's YPF's natural gas output rose 9.2% in January, compared to the same month last year, to 948 million cubic meters. In crude oil, YPF saw an increase of 9.3%, according to data from the Energy Secretariat.

"YPF's monthly production has been increasing in an uninterrupted fashion since April 2013, and in gas since May of that same year," the company said, crediting "a strong level of investment that reached 6 billion dollars."

Last year, YPF produced 41% of Argentina's oil and 33% of its gas. That will increase this year following the purchase of U.S. company Apache's assets in Argentina, as well as the Petrobras stake in Puesto Hernandez, a key area located in Mendoza and Neuquén.

In January, YPF's increasing production did manage to at least nudge oil production up slightly. Across Argentina, oil output increased 0.96% while natural gas declined 0.4%. In 2013, YPF "reversed a trend of more than nine years in year-on-year drops in gas and 10 years in oil."

Last year, YPF's natural gas production was 28.9 million cubic meters per day, slightly above the 28.2 million seen in 2012.

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