Autonomous City of Buenos Aires, November 26, 2021.
To the
Bolsa de Comercio de Buenos Aires
(Buenos Aires Stock Exchange)
Ref.: Bajo
del Toro Area. Subdivision and Concession of
Non-Conventional Hydrocarbons Exploitation.
Dear Sirs,
We are hereby writing to you pursuant to the
requirements of Article No. 23 of the ByMA Listing Regulations..
In this regard, and continuing with the information provided in our Relevant Fact
dated October 17, 2016, we inform that on November 26, 2021, Provincial Decree No. 2004/21 was published in the Official Gazette of the Province of Neuquén, authorizing the subdivision of the current Bajo del Toro Area into two
blocks: (i) Bajo del Toro Norte, with an area of 113.82 km2; and (ii) Bajo del Toro, with an area of 42.97 km2 as shown in the map attached hereto as Annex I.
Likewise, by means of the referred decree, YPF S.A. (YPF), Bajo del Toro I S.R.L., a company absorbed by YPF in the framework of the merger
that is currently being registered (Bajo del Toro I), and Equinor Argentina B.V. (Argentine Branch) (Equinor and, collectively with YPF and Bajo del Toro I, the Companies) were awarded an
Unconventional Hydrocarbon Exploitation Concession (CENCH) in the Bajo del Toro Norte area for a period of 35 years; and access to a second exploration period in the Bajo del Toro area of four years.
YPF and Equinor have committed to execute a five-year pilot plan under the CENCH at Bajo del Toro Norte consisting of the drilling of 14 horizontal wells
targeting the Vaca Muerta formation and associated surface facilities with an estimated investment of US$117.7 million.
Additionally, the Companies
are committed to drill one vertical well (3255 mbbp) in the remaining Bajo del Toro area with an estimated investment of US$3 million.
YPF owns
directly and indirectly (through Bajo del Toro I) a 50% interest in Bajo del Toro and Bajo del Toro Norte; while Equinor owns the remaining 50% interest in both blocks. YPF will continue to be the operator of the blocks.
Santiago Wesenack
Market
Relations Officer
YPF S.A.