YPF - YPF maintains $2.7B capex plan for 2021 despite debt woes

[[YPF]] says it will stick with its $2.7B capital spending plan for 2021 despite successfully restructuring only part of its debt last month, with $1.3B of the spending for shale oil and gas production at Vaca Muerta.The plan represents a 73% increase from 2020, when YPF suffered from the drop in international oil prices and weaker demand due to the pandemic.YPF says it expects to drill 180 new wells at Vaca Muerta, the world's fourth largest unconventional oil reserve and the second largest for gas.The company said earlier this month that it reversed the trend of last year's big losses due to the pandemic when it reported Q4 net profit of $539M.

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YPF maintains $2.7B capex plan for 2021 despite debt woes