YPF Sociedad (YPF) Sets $25-Billion Expansion, Soars 8.7%

YPF Sociedad Anonima (NYSE:YPF) is one of the 10 Stocks Making Monster Moves.

Oil and gas producer YPF Sociedad saw its share prices increase by 8.75 percent on Monday to finish at $47.48 apiece, after unveiling a $25-billion expansion plan to boost large-scale oil exports from its Vaca Muerta shale.

Potentially generating $6 billion in annual exports by 2032, the plan was officially submitted last week under Argentina’s Large Investment Incentive Regime (RIGI). It is by far the program’s largest investment submission to date.

For illustration purposes only. Photo by Kayden Moore on Pexels

Under the program, YPF Sociedad Anonima (NYSE:YPF) will fully operate the development and drill 1,152 wells over the next 15 years. It aims to reach a peak production of 240,000 barrels of oil per day beginning in 2032.

YPF Sociedad Anonima (NYSE:YPF) said that all crude oil produced from the site will be directed to export markets and transported through the VMOS export system, while associated natural gas volumes will be supplied to Argentina’s domestic market.

The project is expected to generate approximately 6,000 new jobs during the development phase.

In other news, YPF Sociedad Anonima (NYSE:YPF) announced last week that it swung to a $409 million net income in the first quarter of the year from a $10 million net loss in the same period last year.

Revenues surged by 7.3 percent to $4.946 billion from $4.608 billion year-on-year.

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