(Energy Analytics Institute, 11.Feb.2021) — Argentina’s oil and gas giant YPF plans to announce results of operations for the fourth quarter 2020 and full year 2020 on 5 March 2021. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Category: Argentina
Argentina energy
Golden’s Chairman Updates On Paraguay, Argentina
(Golden Arrow Resources Corp., 9.Feb.2021) — The New Year is underway, as President, CEO and Chairman of Golden Arrow Resources Corporation, I [Joseph Grosso] would like to share some comments and provide you with various links to Golden Arrow’s new website that provides additional information on the company’s current activity. […]
YPF Sweetens $6.2 Bln Debt Deal Again After Offer Fails
(Reuters, 8.Feb.2021) — Argentine state energy giant YPF made a last-ditch improvement to its $6.2 billion debt restructuring offer to creditors late on Sunday and extended the deadline after the majority of bondholders knocked back an earlier proposal. The firm, which spearheads development of the South American nation’s huge Vaca […]
YPF’s Fourth Amendment To Exchange Offers
(YPF, 7.Feb.2021) — YPF Sociedad Anónima announced its decision to amend the terms and conditions of its amended and restated Exchange Offer and Consent Solicitation Memorandum dated 25 January 2021, as amended on 1 February (the “Exchange Offer and Consent Solicitation Memorandum“). Capitalized terms used herein and not otherwise defined […]
Vaca Muerta Now Producing At Record Levels
(Rystad, 3.Feb.2021) — The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic levels but also reached a record high of 124,000 barrels per day (bpd) in December 2020, a […]
Letter Of Support For YPF Exchange Offer For 2021
(YPF, 2.Feb.2021) — On 7 January 2021, YPF S.A. launched exchange offers in respect of all seven series of its notes (collectively, the “Exchange Offer”). The Exchange Offer was a highly ambitious effort by the company to extract concessions from its international creditors. The Ad Hoc YPF Bondholder Committee represented […]
Argentina’s Escobar Terminal To Reopen
(S&P Global Platts, 1.Feb.2021) — A federal judge in Argentina has lifted a more than three-month suspension of the country’s only floating storage and regasification unit (FSRU) after the government warned of natural gas shortages if LNG imports were hindered. The FSRU, which is docked in Escobar, a district up […]
Argentine Finance Minister Seeks $44bn IMF Debt Deal
(Wall Street Journal, 30.Jan.2021) — With Argentina broke, Finance Minister MartÃn Guzmán is pushing for a deal by May with the International Monetary Fund to repay $44 billion in debt. To win the IMF’s acquiescence, he’ll narrow a yawning budget gap, he said in an interview on Friday. It is […]
Moody’s Assigns Caa3 Rating To YPF’s Proposed Notes
(Moody’s, 29.Jan.2021) — Moody’s Investors Service assigned a Caa3 rating to YPF Sociedad Anónima’s (YPF) proposed senior secured notes due 2026 and senior unsecured notes due 2029 and 2033. The outlook is stable. Net proceeds from the proposed issuance will be used for a tender offer to exchange a combined […]
YPF Bonds Rally After Sweetened Debt Offer
(Bloomberg, 26.Jan.2021) — Bonds of Argentine oil producer YPF SA climbed to a three-week high after the company improved a $6 billion restructuring offer. Stocks also jumped. YPF’s $540 million in securities due March 2025 rose almost 6 cents and shares rose as much as 9.3% after the state-controlled firm […]
YPF Amends Second Exchange Offers
(YPF, 25.Jan.2021) — YPF Sociedad Anónima (YPF) announced its decision to amend the terms and conditions of its Exchange Offers and Consent Solicitation initially described in its Exchange Offer and Consent Solicitation Memorandum dated 7 January 2021, as first amended on 14 January (the “Exchange Offer and Consent Solicitation Memorandum“). […]
Driller Stuns Creditors As Argentina’s Dollars Dwindle
(Bloomberg, 19.Jan.2021) — In the 99 years since it was founded to pump the oil fields of Patagonia, Argentine energy driller YPF SA has been whipsawed by countless booms and busts. If global oil markets weren’t collapsing, it seemed, then Argentina was mired in a debt crisis that was wreaking havoc on […]
FMC Updates 4Q:20 Outlook, Highlights Brazil, Argentina
(FMC, 19.Jan.2021) — FMC Corporation it is reducing its fourth quarter 2020 outlook. The company is proceeding through its quarterly close, and based on preliminary results expects fourth quarter revenue of approximately $1.15bn as compared with prior guidance of $1.23bn to $1.29bn, and fourth quarter adjusted EBITDA in the range […]
Crown Point And Centaurus Enter Into Term Sheet
(Crown Point, 7.Jan.2021) — Crown Point Energy Inc., a Calgary-based oil and gas company with Argentine upstream conventional oil and gas assets, and Centaurus Energy Inc., an independent, Canadian company focused on Argentine upstream oil and gas conventional and unconventional operations, are pleased to announce that they have entered into […]
YPFB And IEASA Ink Fifth Gas Addendum
(Energy Analytics Institute, 1.Jan.2020) — Bolivia’s state oil and gas entity Yacimientos PetrolÃferos Fiscales Boliviano (YPFB) and Argentina’s IEASA signed onto a fifth addendum to a natural gas purchase and sale agreement to guarantee continued bilateral energy trade between both countries in the new year. The volumes agreed under the […]
Argentina’s Plan Gas 4 To Provide Some Cash Flow Stability
(Ftich, 17.Dec.2020) — The contracts that the Argentine Ministry of Energy recently awarded to natural gas producers in the country under Plan Gas 4 (PG4) may bolster somewhat cash flow stability for players in the country and at the same time increase these companies’ credit linkage to that of the […]
YPF Updates On Plan Gas 4
(YPF, 16.Dec.2020) — In compliance with the provisions set forth in article 73 of Law 26,831, YPF S.A. hereby informs the Audit Committee report is available to the shareholders at the company’s headquarters located in Macacha Güemes 515, City of Buenos Aires, in which the Audit Committee issued its opinion […]
Biden White House Faces A Rising China
(Reuters, 14.Dec.2020) — Donald Trump was clear with Latin America during his four-year administration: don’t do business with China. The message failed to hit home. As President-elect Joe Biden readies to enter the White House on Jan. 20, Beijing has tightened its grip over vast swathes of the resource-rich region […]
Argentine And Bolivian Energy Ministers Discuss Gas
(Energy Analytics Institute, 11.Dec.2020) — Bolivia’s Hydrocarbons and Energy Minister Franklin Molina Ortiz held a virtual meeting with Argentina’s Energy Secretariat DarÃo MartÃnez to discuss issues related to a common energy agenda between both countries. The aim of the discussion was to strengthen ties based on the economic reactivation of […]
Trenes Argentinos And IEASA Ink Renewable Deal
(Energy Analytics Institute, 9.Dec.2020) — Argentina’s Energy Secretariat Dario Martinez and the country’s Transport Minister Mario Meoni signed a collaboration deal to stimulate investments in electricity generation projects using renewable sources. The deal involves Trenes Argentinos and IEASA, Martinez announced 7 December 2020 in a post on Twitter. “We agree […]
Argentina Draws 16 Bids For Subsidized Gas Supply
(Argus, 3.Dec.2020) — Argentina received bids from 16 companies in a path-breaking auction to supply more than 70mn m3/d of natural gas at subsidized wellhead prices for power generation in 2021-24. The bids ranged from $2.40/mn Btu to $3.66/mn Btu, coming in below the maximum price of $3.70/mn Btu. Bids […]
YPF Acquires Own Shares
(Energy Analytics Institute, 20.Nov.2020) — Argentina’s state-controlled oil and gas entity YPF Sociedad Anónima (YPF) acquired its own shares in the market (articles 64 and related articles of the Capital Markets Law N°26.831) for the granting of share compensation plans. Between 13-20 November 2020 the Buenos Aires-based oil giant acquired: […]
Envision Commissions Wind Farm In Argentina
(Envision, 18.Nov.2020) — Envision Energy, a leading green tech company today announced the commissioning of Vientos Del Secano, a 50-megawatt wind farm in the Buenos Aires Province of Argentina. This is Envision’s second wind farm in Argentina, following last year’s successful completion of the 10-megawatt GarcÃa del RÃo wind farm […]
Argentina Offers Profit Repatriation For Gas Investment
(Argus, 17.Nov.2020) — Argentina’s government is offering hard currency access to energy companies that sign up to a new program designed to stimulate natural gas production through state-subsidized wellhead prices. The incentive partially lifts Argentina’s crippling restrictions on repatriating profits, long considered a drag on investment. The new gas plan, […]
Pampa EnergÃa Announces Quarterly Results
(Pampa EnergÃa, 11.Nov.2020) — Pampa EnergÃa S.A., the largest independent energy integrated company in Argentina, with active participation in the country’s electricity and gas value chain, announces the results for the nine-month period and quarter ended on 30 September 2020. As from January 1, 2019, the company adopted US$ as […]
YPF Reports $482mn Net Loss In 3Q:20
(Energy Analytics Institute, 11.Nov.2020) — Argentina’s state-controlled YPF announced operating and financial results for the third quarter of 2020. What follows is a summary of key data. MAIN HIGHLIGHTS OF 3Q:20 — Revenues rose 19.5% sequentially on the back of a significant recovery in fuels´ sales and stabilization in oil […]
YPF Faces Mountain Of Debt Payments
(Energy Analytics Institute, 11.Nov.2020) — Argentina’s state owned oil and gas entity YPF will face around $8.05bn in debt payments between the fourth quarter of 2020 and 2026 and beyond. Despite the taunting payment schedule, YPF has made some strides, company executives said 11 November 2020 during the company’s presentation […]
Argentina And Chile Briefs: IMF Debt, Pension Reform
(Energy Analytics Institute, 11.Nov.2020) — Briefs on Argentina and Chile related to IMF officials in Argentina to renegotiate around $44bn in debt and tensions rise in Chile over pension reform. IMF In Argentina To Renegotiate $44bn In Debt (Energy Analytics Institute, 11.Nov.2020) — Officials with the International Monetary Fund (IMF) […]
YPF To Boost Output In The Rincón del Mangrullo Block
(Energy Analytics Institute, 9.Nov.2020) — Argentina’s YPF plans to drill 24 wells in the Rincón del Mangrullo Block at two unconventional developments between now and 2021. The developments on the block include tight gas in the Mulichinco formation and shale gas in the Vaca Muerta formation, YPF announced 9 November […]
Argentina’s Gas Output At 125.5 MMcm/d Thru August
(Energy Analytics Institute, 6.Nov.2020) — Argentina’s production of natural gas averaged 125.5 million cubic meters per day (MMcm/d) or 4.43 billion cubic feet per day (Bcf/d) in the eight months between January and August of 2020, according to data from the country’s Energy Secretariat. Argentina’s two biggest producers were YPF […]
Argentina’s Oil Output At 483,453 B/D Thru August
(Energy Analytics Institute, 6.Nov.2020) — Argentina’s production of crude oil averaged 483,453 barrels per day in the eight months between January and August of 2020, according to data from the country’s Energy Secretariat. Argentina’s two biggest producers were YPF and Pan America Energy, which produced 46.4% and 21.7% respectively of […]
YPF Fuels Wins Top TierTM Certification
(Energy Analytics Institute, 3.Nov.2020) — Fuels produced by Argentina’s YPF again won the Top TierTM international certification, which is promoted by the ten most important automotive companies in the North American market. YPF was the first company in the region and the only one in Argentina to be part of […]
Seeds Energy Inaugurates Biogas Plant
(Energy Analytics Institute, 24.Oct.2020) — Seeds Energy Group remotely inaugurated its biogas plant located in Venado Tuerto, Santa Fe where it plans investments of $12mn. The plant will contribute 2 megawatts of clean electrical power to the city’s network and around 40,000 tons per year of biofertilizers from corn marl […]
Neuquén Targets 80 Rigs By March 2021: Gutiérrez Says
(Energy Analytics Institute, 22.Oct.2020) — Argentina’s Neuquén Province Governor Omar Gutiérrez said joint work by companies and workers will allow the region to achieve a growth path that will allow drilling activity to recover to the levels exhibited before the pandemic. The official said approximately 80 rigs are projected to […]
Compañia Argentina de Comodoro Buys NGX’s Interests In Argentina
(NGX Energy, 20.Oct.2020) — NGX Energy International Corp. (formerly CruzSur Energy Corp.) accepted an offer from Compañia Argentina de Comodoro Rivadavia Explotacion de Petróleo S.A. and Financier S.A. (the “Purchaser”) to acquire 100% of NGX’s oil and gas interests in Alianza Petrolera Argentina S.A., the Argentine subsidiary through which NGX […]
Exmar Inks $150mn Agreement With YPF
(Energy Analytics Institute, 19.Oct.2020) — Belgium-based Exmar reached a $150mn settlement with Argentina’s state-controlled YPF SA related to a dispute under the Tango FLNG agreements. In the deal, YPF will pay the settlement to Exmar for consideration of the early termination of the Tango FLNG agreements, as announced on 25 […]
Córdoba Eyes Higher Biofuel Demand, Exports To Brazil
(Energy Analytics Institute, 12.Oct.2020) — The Córdoba province government of Juan Schiaretti continues to advance varied measures that seek to benefit the region’s biofuels sector. Schiaretti’s government is promoting a bill proposing use of biofuels in the public transport of passengers, cargo as well in vehicle fleets of provincial government, […]
YPF Releases Audit Committee Report
(Energy Analytics Institute, 7.Oct.2020) — Pursuant to the regulations of the National Securities Commission or the Comisión Nacional de Valores and the terms of Article 73 of Law No. 26,831, Argentina’s state oil company YPF SA released its audit committee report, which is available to shareholders at the registered office […]
Eleven Rigs Reactivated In The Vaca Muerta In Neuquén
(Energy Analytics Institute, 3.Oct.2020) — Argentina’s Neuquén Ministry of Energy data reveal 11 drilling rigs have been reactivated in the province, and all targeting the Vaca Muerta formation. Of the 11: three were recently incorporated by YPF, two by Shell, which was the first company to return, two by Pan […]
YPF And Oil Unions Agree To 16.2% Salary Rise
Oil unions in Argentina reached an agreement with state oil and gas entity YPF for a salary increase of 16.2% over basic salaries as of March 2019 and which will be “non-remunerative” and payable from 1 September 2020.
Heard On The Street: Argentina’s Gas Dilemma
(Energy Analytics Institute, 30.Sep.2020) — If Argentina is unable to boost its natural gas production, piped gas imports from Bolivia as well as liquefied natural gas (LNG) imports injected from Escobar may not be sufficient to cover demand in the domestic market. As such, Argentina could be forced to opt […]
Argentine Gas Imports Were 42.2 MMcm/d In July 2020
(Energy Analytics Institute, 26.Sep.2020) — Argentina’s imports of natural gas from liquefied natural gas (LNG) and piped gas from Bolivia reached 42.2 million cubic meters per day (MMcm/d) in July 2020, online newspaper RÃo Negro reported on 26 September 2020. __________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All […]
YPF Prepares For Fuel Updates Between Oct.-Dec.
(Energy Analytics Institute, 25.Sep.2020) — YPF, the largest company in Argentina, will increase its fuel prices between now and year end. Two or three price increments are planned, at the rate of one per month, between October and December. The first adjustment could be on 1 October, online newspaper La […]
Investors Pull Plug On Argentina’s Prized Shale Play
(Oilprice.com, 19.Sep.2020) — Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, which saw oil prices plunge to nearly $40 dollars below zero in a jaw-dropping first, a flurry […]
The Threat Of Oil Nationalism In Argentina
(Oilprice.com, 6.Sep.2020) — Latin America has a long history of resource nationalism, particularly when it comes to petroleum. Since the end of World War Two, this has acted as a significant deterrent for international energy majors seeking to invest in the region’s vast hydrocarbon potential. This is being amplified by […]
YPF To Restart Shale Drilling In Argentina
(Argus, 4.Sep.2020) — Argentina’s state-controlled YPF will resume drilling activity in the country’s Vaca Muerta shale formation after an almost six-month pause resulting from pandemic restrictions. YPF will begin operating two drilling rigs in Vaca Muerta over the next two weeks, chief executive Sergio Affronti said today. The rigs will […]
Argentina Puts Priority On Boosting Oil, Gas Exports
(S&P Global Platts, 28.Aug.2020) — Argentina’s new energy secretary Dario Martinez plans to promote oil and natural gas production with a view to increasing exports as part of a strategy to pull the economy out of one of its worst crises on record, he said Aug. 27. Martinez, who took […]
Argentina’s Shale Province Predicts Slow Recovery
(Argus, 25.Aug.2020) — Argentina’s Vaca Muerta shale patch will take 12-18 months to resume pre-Covid-19 activity because of lagging demand, according to Alejandro Monteiro, energy minister of Neuquen province. “We believe it will take a while for fuel demand to fully recover,” Monteiro said in an industry webinar yesterday. Many […]
Exxon Gets Concession For Los Toldos II Oeste Oil Block
(Zacks Equity Research, 19.Aug.2020) — Exxon Mobil Corporation was recently granted concession by the Neuquen provincial government for exploratory activities in another block, Los Toldos II Oeste, in the prolific Vaca Muerta shale play in Argentina, as said by the government of Neuquen. The 35-year concession has called for a […]
Traders Are Already Betting On Argentina’s Next Default
(Bloomberg, 18.Aug.2020) — In the next few weeks, if all goes as scripted, Argentine officials will put the finishing touches on a bond restructuring deal and bring an end to the ninth default in the country’s history. Bond traders are already bracing for the 10th. They’re refusing to bid up […]