YPF (NYSE: YPF) to transfer Manantiales Behr field assets in $575M deal

Rhea-AI Filing Summary

YPF Sociedad Anónima agreed to assign its 100% conventional exploitation concession over the Manantiales Behr area in Chubut and related hydrocarbon transport concessions, and to sell associated inventory, to Limay Energía S.A. for a total price of US$575 million, plus VAT.

The consideration will be paid 60% at closing and the remainder within 12 months, with customary adjustments. The Manantiales Behr area had daily production at the end of the third quarter of 2025 of about 25 kbbl/d of oil and 0.5 million m3/d of natural gas. The assignment’s effectiveness is subject to authorization by the Executive Branch of the Province of Chubut and is described as part of YPF’s 4x4 Plan to optimize its conventional upstream portfolio and focus more on unconventional fields.

Insights

Equity and energy sector analyst

YPF monetizes a producing conventional field for US$575 million as part of a portfolio shift.

YPF is assigning its Manantiales Behr conventional exploitation concession and related transport assets, and selling inventory, to Limay Energía S.A. for a total price of US$575 million, plus VAT. The area’s disclosed production of about 25 kbbl/d of oil and 0.5 million m3/d of gas as of the end of Q3 2025 indicates the transaction involves a meaningful producing asset rather than an early-stage prospect.

Cash inflows are structured with 60% payable at closing and the balance within 12 months, subject to customary adjustments. The assignment is conditioned on authorization by the Executive Branch of the Province of Chubut, so timing and completion depend on that regulatory step. Until authorization and closing occur, there is no certainty that the consideration will be received as planned.

The company links this transaction to its 4x4 Plan, which includes optimizing the conventional upstream portfolio and focusing more on unconventional activities. That framing suggests an ongoing strategy of reallocating capital and management attention toward unconventional fields, while using asset sales like this one to reshape the portfolio and potentially support that shift.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number: 001-12102

YPF Sociedad Anónima

(Exact name of registrant as specified in its charter)

Macacha Güemes 515

C1106BKK Buenos Aires, Argentina

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ☒   Form 40-F ☐

YPF Sociedad Anónima

TABLE OF CONTENT

ITEM 1 Translation of letter to the Argentine Securities Commission (Comisión Nacional de Valores) dated January 16, 2026.

Buenos Aires, January 16, 2026

COMISIÓN NACIONAL DE VALORES (“CNV”)

25 de Mayo 175

Buenos Aires

BOLSAS Y MERCADOS ARGENTINOS S.A. (“ByMA”)

Sarmiento 299

Buenos Aires

A3 MERCADOS S.A. (“A3 Mercados”)

Maipú 1210

Buenos Aires

Ref.: Material Event – Portfolio Optimization Strategy: Assignment of Manantiales Behr Assets – Province of Chubut

Ladies and Gentlemen,

We are writing to you in order to comply with the CNV Rules and the corresponding regulations of ByMA and A3 Mercados.

We hereby inform that YPF S.A. (“YPF” or the “Company”) and Limay Energía S.A. (a Rovella Capital Group company) entered into two agreements on January 16, 2026 for (i) the assignment of 100% of the conventional exploitation concession over the Manantiales Behr area and the hydrocarbon transport concession over the “El Trébol – Caleta Córdova”, “Km. 9 – Caleta Córdova”, and “Manantiales Behr – Cañadón Perdido” in the Province of Chubut and (ii) the sale of the inventory of materials held in the Manantiales Behr and Km 20 warehouses.

At the end of the third quarter of 2025, the area had a daily production of approximately 25 kbbl/d of oil and 0.5 million m³/d of natural gas.

The total price agreed for both transactions is US$575 million, plus applicable VAT, considering the customary adjustments for transactions of this nature, of which 60% will be paid at the closing of the transaction and the remaining balance within 12 months thereafter.

The effectiveness of the assignment is subject to authorization by the Executive Branch of the Province of Chubut.

The reported assignment forms part of the Company’s 4x4 Plan, which includes optimizing the conventional upstream portfolio. This is one of the levers on which YPF’s strategy is based, with a focus on activities and investments in unconventional fields, with the ultimate goal of maximizing value for the Company, its shareholders and investors.

Sincerely,

Margarita Chun

Market Relations Officer

YPF S.A.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				YPF Sociedad Anónima
Date: January 16, 2026				By:		/s/ Margarita Chun
				Name:		Margarita Chun
				Title:		Market Relations Officer

FAQ

What transaction did YPF (YPF) announce regarding the Manantiales Behr area?

YPF announced that it entered into two agreements with Limay Energía S.A. for the assignment of 100% of the conventional exploitation concession over the Manantiales Behr area and related hydrocarbon transport concessions in the Province of Chubut, and for the sale of inventory of materials held in the Manantiales Behr and Km 20 warehouses.

How much will YPF receive from the Manantiales Behr asset assignment and inventory sale?

The total price agreed for both the asset assignment and the inventory sale is US$575 million, plus applicable VAT, with customary adjustments for transactions of this nature.

What are the payment terms for YPFs US$575 million Manantiales Behr transaction?

According to the disclosure, 60% of the total US$575 million price will be paid at the closing of the transaction, and the remaining balance will be paid within 12 months after closing.

What production levels were disclosed for YPFs Manantiales Behr area before the assignment?

At the end of the third quarter of 2025, the Manantiales Behr area had a daily production of approximately 25 kbbl/d of oil and 0.5 million m3/d of natural gas.

Are there any conditions for the effectiveness of YPFs Manantiales Behr asset assignment?

Yes. The company states that the effectiveness of the assignment is subject to authorization by the Executive Branch of the Province of Chubut.

How does the Manantiales Behr transaction fit into YPFs 4x4 Plan?

YPF indicates that this assignment is part of its 4x4 Plan, which includes optimizing the conventional upstream portfolio and focusing activities and investments on unconventional fields with the aim of maximizing value for the company, its shareholders, and investors.