YPF Sociedad Anónima (NYSE:YPF) Q1 2022 Earnings Conference Call May 12, 2022 9:00 AM ET

Company Participants

Pablo Calderone - Investor Relations Manager

Sergio Affronti - Chief Executive Officer

Alejandro Lew - Chief Financial Officer

Conference Call Participants

Frank McGann - Bank of America Merrill Lynch

Marcelo Gumiero - Credit Suisse AG

Konstantinos Papalios - Plenti Argentina

Marina Mertens - AR Partners S.A.

Walter Chiarvesio - Santander

Andres Cardona - Citigroup Inc.

Bruno Amorim - Goldman Sachs

Luiz Carvalho - UBS

Ezequiel Fernandez - Balanz

Operator

Good morning. My name is Savannah, and I'll be your conference operator for today. At this time, I'd like to welcome everyone to the YPF First Quarter 2022 Earnings Webcast Presentation. Today's call is being recorded. All lines have been placed on mute to prevent any background noise. And after the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

And I'd now like to turn the conference over to Pablo Calderone. Please go ahead.

Pablo Calderone

Good morning, ladies and gentlemen. This is Pablo Calderone, YPF, IR Manager. Thank you for joining us today in our first quarter 2022 earnings call. This presentation will be conducted by our CEO, Sergio Affronti; our CFO, Alejandro Lew; and myself. During the presentation, we will go through the main aspects and events that explain our first quarter results. And finally, we will open up the call for your questions.

Before we begin, I would like to draw your attention to our cautionary statement on Slide 2. Please take into consideration that our remarks today and answer to your questions may include forward-looking statements, which are subject to risks and uncertainties that could cause actual results to be materially different from the expectations contemplated by these remarks. Also, note the exchange rate using calculations to reach our main financial figures in U.S. dollars. Our financial figures are stated in accordance with IFRS, but during the call, we may discuss some non-IFRS measures such as adjusted EBITDA.

I will now turn the call to Sergio. Please, Sergio, go ahead.

Sergio Affronti

Thank you, Pablo. Good morning, and thanks, everyone, for joining us this morning. We are just to report robust beginning of the year across our key operational and financial metrics, delivering on our ambitions and guidance for the year. During the quarter, our total hydrocarbon production continued with a positive trend, bring it to a market over 500,000 barrels of oil equivalent per day, a 5% increase from the previous quarter and 16% on a year-over-year basis on the back of yet another quarter of outstanding growth within our shale operations.