CORRECT: YPF Says Too Soon to Decide Shale Capex on Lower Brent

(Corrects 9th bullet point to clarify consortium will tender for bids in case deal not reached on pipe tolling fees.)

• State-run YPF’s CEO Horacio Marin said on a 1Q25 earnings call that it’s too soon to decide if Argentina’s biggest oil producer would need to cut investments this year in the Vaca Muerta because of the fall in Brent.
• “If I have to change I will change, but today I don’t see it as necessary,” Marin said
• NOTE: YPF’s shale capex guidance this year is estimated at ~$3.2b
• NOTE: Argentina’s Shale Patch a Sure Thing Even at $45 ...