YPF - YPF looks to Vaca Muerta production to help lift from pandemic hit

[[YPF]] says it is starting to rebuild oil and gas production by targeting the Vaca Muerta shale play, which should grow to as much as 50% of its oil production by 2023 to help offset natural declines in conventional reserves.The company is on track for a 10% Y/Y decline in total production this year, largely because of the long lockdown of the Argentine economy, CEO Sergio Affronti said during today's earnings conference call."We have seen a gradual recovery in volumes as the lockdown has been flexibilized," Affronti said of diesel and gasoline sales. "The worst seems to be behind us."From Vaca Muerta, YPF says it produced 40.8K bbl/day of oil in Q3, up 11% Y/Y.Company executives said YPF is taking steps to cut operating and financing costs so it can produce at lower breakevens, reducing its reliance on high oil and gas prices to run a profit.YPF fell 3.6% in

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YPF looks to Vaca Muerta production to help lift from pandemic hit