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Financial News: YPF: Company Turns To Profit In The Third

YPF: Company Turns To Profit In The Third Quarter Even As Output Falls

11/09/2017 - 12:39:00 (RTTNews)

(RTTNews) - Argentinean state-owned oil company YPF reported a 246 million pesos (US$ 14.03 million) net profit in the third quarter of 2017, reversing the losses recorded in the third quarter of 2016.

YPF's EBITDA (earnings before interest, taxes, depreciation and amortization) for the third quarter of 2017 reached 17,043 million pesos, 16.7% higher than a year before. Meanwhile, revenues amounted to 66,034 million pesos, up 18.2%.

The company's investments increased 6%, to 15,903 million pesos, while output reached 553.2 thousand barrels of oil equivalent per day (boed) in the quarter, 4.5% less than in the same period of 2016. Crude production fell by 8.1%, totaling 227.2 thousand barrels per day (bpd).

Meanwhile, natural gas production reached 44.1 million cubic meters per day (Mm3d) in the third quarter, 1.7% lower than in the same period of 2016. LNG production decreased by 3.0% in the same comparison basis, reaching 48.6 thousand boed.

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