YPF - YPF to target $1B in financing this year chairman says

Argentina's YPF ( NYSE: YPF ) aims to raise ~$1B in financing in 2023 , returning to debt markets to fund development of the Vaca Muerta shale region, Chairman Pablo Gonzalez told Reuters on Monday.

The money likely would fund ~20% of a $5B investment plan for this year, primarily focused on boosting oil and gas output at Vaca Muerta, Gonzalez said.

The debt operation would be the YPF's ( YPF ) first since the company restructured $2.1B with creditors in 2021.

Another priority for the company this year is to make progress on a ~$10B liquefied natural gas production project with Malaysia's Petronas and a pipeline to transport the fuel, the chairman said.

A series of technical meetings with Petronas are planned for February 22 to discuss the legal terms of the joint LNG project, another step towards a final contract following a preliminary agreement in September, Gonzalez said.

Argentina has some of the largest shale reserves in the world, and YPF ( YPF ) is "a very undervalued sleeping shale giant," Power Hedge writes in an analysis posted on Seeking Alpha .

For further details see: