Autonomous City of Buenos Aires,
November 26, 2021.
Bolsa de Comercio de Buenos Aires
(Buenos Aires Stock Exchange)
Ref.: Bajo del Toro Area. Subdivision and
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
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.
Market Relations Officer