Argentina's YPF posts $649 million quarterly loss; 42% jump in shale output

Feb 26 (Reuters) - Argentine state energy firm YPF YPFDm.BA posted a fourth-quarter net loss of $649 million, more than double the $284 million loss it reported a year earlier due to shifting prices in oil and petroleum derivatives and a slowdown in gas sales, the company said.

The company's revenues fell 4% year-on-year, landing at $4.56 billion.

Quarterly adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) - a key measure of industry profitability - hit $1.28 billion, up 53% from a year earlier and surpassing the $1.22 billion estimate of analysts polled by LSEG.

Revenues for the final three months of the year dropped 4% versus the same period last year to $4.56 billion, also beating analysts' $4.11 billion forecast.

The company said its total shale oil production surged 35% year-on-year to an average of 165,000 barrels per day, while fourth-quarter shale production jumped 42% year-on-year to 196,000 barrels per day.

YPF's performance is a critical indicator for Argentina's economy, which relies on the company's Vaca Muerta operations in its push to become a net energy exporter, bolster dollar reserves and maintain a stable currency.

Earlier this month, analysts predicted that Vaca Muerta would help lift Argentina's energy surplus to a new record this year, predicting a trade surplus of up to $10 billion that would depend largely on the South American nation's oil output.