YPF - YPF to boost investment into Vaca Muerta to ramp up production

YPF ([[YPF]] -0.1%) says it plans to spend more than $1.5B this year to ramp up oil and natural gas production in the Vaca Muerta shale play, which will significantly boost 2021 oil and gas production compared with 2020.The aim is to boost shale oil output by 56% and unconventional gas output by 70% this year compared with 2020, YPF Chairman Pablo Gonzalez says.The company also says it will invest more than $300M in the Patagonian province of Santa Cruz.YPF CEO Sergio Affronti said earlier this month that the company planned to raise its total investment 70% to $2.7B this year in an effort to return to production growth.

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YPF to boost investment into Vaca Muerta to ramp up production