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YPF targets Vaca Muerta upsurge

In the wake of positive financials, the Argentinian operator is lifting capex spend and is bullish on barrels

Shale production from the Vaca Muerta basin is rapidly offsetting dwindling conventional output in Argentinian state oil company YPF’s portfolio and is primed for strong growth heading into 2022. The company achieved record shale output of 61,000bl/d in October, having increased supply by 38pc across Q3 compared with the previous quarter. “Shale production in Vaca Muerta is absolutely essential for YPF to offset the decline in conventional production, which is expected to run at a 10pc rate,” says Ezequiel Fernandez, equity and credit research director at Argentinian investment bank Balanz Capital. “We expect shale oil production next year to grow [by] 40pc, provided the pricing environment

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