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Supplemental Information on Oil and Gas Producing Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Capitalized Costs, Along with the related Accumulated Depreciation and Allowances

The following tables set forth capitalized costs, along with the related accumulated depreciation and allowances as of December 31, 2017, 2016 and 2015:

		2017												2016												2015
Consolidated capitalized costs		Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide
Proved oil and gas properties
Mineral property, wells and related equipment			770,461				—				770,461				621,717				—				621,717				451,900				4,312				456,212
Support equipment and facilities			22,171				—				22,171				18,263				—				18,263				16,920				—				16,920
Drilling and work in progress			40,567				—				40,567				36,966				—				36,966				45,715				—				45,715
Unproved oil and gas properties			6,189				558				6,747				4,788				526				5,314				6,473				451				6,924
Total capitalized costs			839,388				558				839,946				681,734				526				682,260				521,008				4,763				525,771
Accumulated depreciation and valuation allowances			(600,086	)			—				(600,086	)			(473,814	)			—				(473,814	)			(327,579	)			(3,811	)			(331,390	)
Net capitalized costs			239,302				558				239,860				207,920				526				208,446				193,429				952				194,381

Costs Incurred for Oil and Gas Producing Activities

The following tables set forth the costs incurred for oil and gas producing activities during the years ended December 31, 2017, 2016 and 2015:

		2017												2016												2015
Consolidated costs incurred		Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide
Acquisition of unproved properties			—				—				—				—				—				—				—				—				—
Acquisition of proved properties			154				—				154				2,093				—				2,093				—				—				—
Exploration costs			3,302				149				3,451				2,922				517				3,439				4,029				440				4,469
Development costs			39,039				—				39,039				49,302				25				49,327				44,753				84				44,837
Total costs incurred			42,495				149				42,644				54,317				542				54,859				48,782				524				49,306

Results of Operations from Oil and Gas Producing Activities

Differences between these tables and the amounts shown in Note 5 “Segment information”, for the exploration and production business unit, relate to additional operations that do not arise from those properties held by the Group.

		2017												2016												2015
Consolidated results of operations		Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide
Net sales to unaffiliated parties			521				—				521				18,489				98				18,587				13,812				197				14,009
Net intersegment sales			115,955				—				115,955				95,496				—				95,496				64,191				—				64,191
Total net revenues			116,476				—				116,476				113,985				98				114,083				78,003				197				78,200
Production costs			(69,944	)			—				(69,944	)			(65,823	)			(39	)			(65,862	)			(43,955	)			(89	)			(44,044	)
Exploration expenses			(2,279	)			(168	)			(2,447	)			(3,140	)			(17	)			(3,157	)			(2,342	)			(127	)			(2,469	)
Depreciation and expense for valuation allowances			(45,277	)			—				(45,277	)			(38,036	)			(90	)			(38,126	)			(22,861	)			(148	)			(23,009	)
Impairment of Property, plan and equipment			5,032				—				5,032				(34,943	)			—				(34,943	)			(2,361	)			(174	)			(2,535	)
Other			(2,706	)			—				(2,706	)			(836	)			—				(836	)			(401	)			(56	)			(457	)
Pre-tax income (loss) from producing activities			1,302				(168	)			1,134				(28,793	)			(48	)			(28,841	)			6,083				(397	)			5,686
Income tax expense / benefit			(456	)			59				(397	)			10,434				16				10,450				(2,114	)			79				(2,035	)
Results of oil and gas producing activities			846				(109	)			737				(18,359	)			(32	)			(18,391	)			3,969				(318	)			3,651

Summary of Standardized Measure of Discounted Future Net Cash Flows

The standardized measure does not purport to be an estimate of the fair market value of the Group’s proved reserves. An estimate of fair value would also take into account, among other things, the expected recovery of reserves in excess of proved reserves, anticipated changes in future prices and costs and a discount factor representative of the time value of money and the risks inherent in producing oil and gas.

		2017												2016												2015
Consolidated standardized measure of discounted future net cash flows		Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide
	Future cash inflows (1)												564,396																—										564,396				669,791				—				669,791				670,085				589				670,674
Future production costs			(349,819	)			—				(349,819	)			(379,757	)			—				(379,757	)			(395,119	)			(331	)			(395,450	)
Future development costs			(128,885	)			—				(128,885	)			(120,862	)			—				(120,862	)			(116,524	)			(10	)			(116,534	)
Future income tax expenses			(2,324	)			—				(2,324	)			(29,956	)			—				(29,956	)			(30,724	)			(70	)			(30,794	)
10% annual discount for estimated timing of cash flows			(16,935	)			—				(16,935	)			(32,805	)			—				(32,805	)			(30,075	)			(56	)			(30,131	)
Total standardized measure of discounted future net cash flows			66,433				—				66,433				106,411				—				106,411				97,643				122				97,765

(1) For the years ended December 31, 2017, 2016 and 2015, future cash inflows are stated net of the effect of withholdings on exports until 2017 in accordance with Law No. 26,732.

Summary of Changes in the Standardized Measure of Discounted Future Net Cash Flows

The following table reflects the changes in standardized measure of discounted future net cash flows for the years ended December 31, 2017, 2016 and 2015:

		2017				2016				2015
Beginning of year			106,412				97,765				99,383
Sales and transfers, net of production costs			(53,759	)			(52,025	)			(52,321	)
Net change in sales and transfer prices, net of future production costs			(74,046	)			(37,336	)			(80,809	)
Changes in reserves and production rates (timing)			15,495				4,385				3,748
Net changes for extensions, discoveries and improved recovery			28,489				40,565				30,956
Net change due to purchases and sales of minerals in place			—				3,234				—
Changes in estimated future development and abandonment costs			(32,052	)			(19,356	)			(28,225	)
Development costs incurred during the year that reduced future development costs			22,475				28,689				24,475
Accretion of discount			9,724				10,652				13,646
Net change in income taxes			25,920				8,522				35,409
Others			17,775				21,316				51,503
End of year			66,433				106,411				97,765

Natural Gas Liquids [Member]

Summary of Changes in YPF's Net Proved Reserves

		2017												2016												2015
Natural Gas Liquids		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Millions of barrels)
Consolidated entities
At January 1,			68				68				—				71				71				—				73				73				—
Developed			53				53				—				56				56				—				53				53				—
Undeveloped			15				15				—				15				15				—				20				20				—
Revisions of previous estimates (1)			4				4				—				5				5				—				9				9				—
Extensions and discoveries			5				5				—				11				11				—				10				10				—
Improved recovery			—				—				—				—				—				—				—				—				—
Purchase of minerals in place			—				—				—				—				—				—				—				—				—
Sale of minerals in place			—				—				—				—				—				—				(3	)			(3	)			—
Production for the year (2)			(19	)			(19	)			—				(19	)			(19	)			—				(18	)			(18	)			—
At December 31, (3)			58				58				—				68				68				—				71				71				—
Developed			47				47				—				53				53				—				56				56				—
Undeveloped			11				11				—				15				15				—				15				15				—
Equity-accounted entities
At January 1,			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—
Revisions of previous estimates (1)			—				—				—				—				—				—				—				—				—
Extensions and discoveries			—				—				—				—				—				—				—				—				—
Improved recovery			—				—				—				—				—				—				—				—				—
Purchase of minerals in place			—				—				—				—				—				—				—				—				—
Sale of minerals in place			—				—				—				—				—				—				—				—				—
Production for the year (2)			—				—				—				—				—				—				—				—				—
At December 31, (3)			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—

		2017												2016												2015
Natural Gas Liquids		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Millions of barrels)
Consolidated and  Equity-accounted entities
At January 1,
Developed			53				53				—				56				56				—				53				53				—
Undeveloped			15				15				—				15				15				—				20				20				—
Total			68				68				—				71				71				—				73				73				—
At December 31,
Developed			47				47				—				53				53				—				56				56				—
Undeveloped			11				11				—				15				15				—				15				15				—
Total			58				58				—				68				68				—				71				71				—

* Not material (less than 1)

(1) Revisions in estimates of reserves are performed at least once a year. Revision of oil and gas reserves is considered prospectively in the calculation of depreciation.

(2) Natural gas liquids production for the years 2017, 2016 and 2015 includes an estimated approximately 2, 2 and 2 mmbbl, respectively, in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax. Equity-accounted entities production of natural gas liquids in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, is not material.

(3) Proved natural gas liquids reserves of consolidated entities as of December 31, 2017, 2016 and 2015 include an estimated approximately 6, 8 and 14 mmbbl, respectively, in respect of royalty payments which, as described above, are a financial obligation, or are substantially equivalent to a production or similar tax. Proved natural gas liquids reserves of equity–accounted entities in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, are not material.

Oil and Condensate [Member]

Summary of Changes in YPF's Net Proved Reserves

The table below sets forth information regarding changes in YPF’s net proved reserves during 2017, 2016 and 2015, by hydrocarbon product.

		2017												2016												2015
Oil and Condensate		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Millions of barrels)
Consolidated entities
At January 1,			525				525				—				608				607				1				601				600				1
Developed			380				380				—				440				439				1				447				446				1
Undeveloped			145				145				—				168				168				—				154				154				—
Revisions of previous estimates (1)			(71	)			(72	)			—				(75	)			(74	)			(1	)			31				31				(*	)
Extensions and discoveries			19				19				—				45				45				—				44				44				—
Improved recovery			32				33				—				35				35				—				23				23				—
Purchase of minerals in place			—				—				—				2				2				—				—				—				—
Sale of minerals in place			—				—				—				(*	)			(*	)			—				(*	)			(*	)			—
Production for the year (2)			(83	)			(83	)			—				(90	)			(90	)			(*	)			(91	)			(91	)			(*	)
At December 31, (3)			422				422				—				525				525				—				608				607				1
Developed			286				286				—				380				380				—				440				439				1
Undeveloped			136				136				—				145				145				—				168				168				—
Equity-accounted entities
At January 1,			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—
Revisions of previous estimates (1)			—				—				—				—				—				—				—				—				—
Extensions and discoveries			—				—				—				—				—				—				—				—				—
Improved recovery			—				—				—				—				—				—				—				—				—
Purchase of minerals in place			—				—				—				—				—				—				—				—				—
Sale of minerals in place			—				—				—				—				—				—				—				—				—
Production for the year (2)			—				—				—				—				—				—				—				—				—
At December 31, (3)			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—

		2017												2016												2015
Oil and Condensate		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Millions of barrels)
Consolidated and  Equity-accounted entities
At January 1,
Developed			380				380				—				440				439				1				447				446				1
Undeveloped			145				145				—				168				168				—				154				154				—
Total			525				525				—				608				607				1				601				600				1
At December 31,
Developed			286				286				—				380				380				—				440				439				1
Undeveloped			136				136				—				145				145				—				168				168				—
Total			422				422				—				525				525				—				608				607				1

* Not material (less than 1)

(1) Revisions in estimates of reserves are performed at least once a year. Revision of oil and gas reserves is considered prospectively in the calculation of depreciation.

(2) Crude oil production for the years 2017, 2016 and 2015 includes an estimated approximately 12, 13 and 13 mmbbl, respectively, in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax. Equity-accounted entities production of crude oil in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, is not material.

(3) Proved crude oil reserves of consolidated entities as of December 31, 2017, 2016 and 2015 include an estimated approximately 61, 76 and 88 mmbbl, respectively, in respect of royalty payments which, as described above, are a financial obligation, or are substantially equivalent to a production or similar tax. Proved crude oil reserves of equity–accounted entities in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, are not material.

Natural gas [Member]

Summary of Changes in YPF's Net Proved Reserves

	2017												2016												2015
Natural gas		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Billions of standard cubic feet)
Consolidated entities
At January 1,			2,923				2,923				—				3,072				3,067				5				3,016				3,011				5
Developed			2,143				2,143				—				2,210				2,205				5				2,267				2,262				5
Undeveloped			780				780				—				862				862				—				749				749				—
Revisions of previous estimates (1)			(161	)			(161	)			—				(110	)			(105	)			(5	)			174				174				(*	)
Extensions and discoveries			313				313				—				371				371				—				520				520				—
Improved recovery			—				—				—				1				1				—				1				1				—
Purchase of minerals in place			12				12				—				165				165				—				—				—				—
Sale of minerals in place			—				—				—				(*	)			(*	)			—				(70	)			(70	)			—
Production for the year (2)			(567	)			(567	)			—				(576	)			(576	)			(*	)			(569	)			(569	)			(*	)
At December 31, (3) (4)			2,520				2,520				—				2,923				2,923				—				3,072				3,067				5
Developed			1,850				1,850				—				2,143				2,143				—				2,210				2,205				5
Undeveloped			670				670				—				780				780				—				862				862				—
Equity-accounted entities
At January 1,			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—
Revisions of previous estimates (1)			—				—				—				—				—				—				—				—				—
Extensions and discoveries			—				—				—				—				—				—				—				—				—
Improved recovery			—				—				—				—				—				—				—				—				—
Purchase of minerals in place			—				—				—				—				—				—				—				—				—
Sale of minerals in place			—				—				—				—				—				—				—				—				—
Production for the year (2)			—				—				—				—				—				—				—				—				—
At December 31, (3)			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—

		2017												2016												2015
Natural gas		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Billions of standard cubic feet)
Consolidated and  Equity-accounted entities
At January 1,
Developed			2,143				2,143				—				2,210				2,205				5				2,267				2,262				5
Undeveloped			780				780				—				862				862				—				749				749				—
Total			2,923				2,923				—				3,072				3,067				5				3,016				3,011				5
At December 31,
Developed			1,850				1,850				—				2,143				2,143				—				2,210				2,205				5
Undeveloped			670				670				—				780				780				—				862				862				—
Total			2,520				2,520				—				2,923				2,923				—				3,072				3,067				5

* Not material (less than 1)

(1) Revisions in estimates of reserves are performed at least once a year. Revision of natural gas reserves is considered prospectively in the calculation of depreciation.

(2) Natural gas production for the years 2017, 2016 and 2015 includes an estimated approximately 64, 60 and 58 bcf, respectively, in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax. Equity-accounted entities production of natural gas in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, is not material.

(3) Proved natural gas reserves of consolidated entities as of December 31, 2017, 2016 and 2015 include an estimated approximately 289, 337 and 329 bcf, respectively, in respect of royalty payments which, as described above, are a financial obligation, or are substantially equivalent to a production or similar tax. Proved natural gas reserves of equity-accounted entities in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, are not material.

(4) Proved natural gas reserves of consolidated entities and equity-accounted entities as of December 31, 2017, 2016 and 2015 include an estimated approximately 364, 467 and 635 bcf, respectively, which is consumed as fuel at the field.

Oil equivalent [Member]

Summary of Changes in YPF's Net Proved Reserves

		2017												2016												2015
Oil equivalent (1)		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Millions of barrels of oil equivalent)
Consolidated entities
At January 1,			1,113				1,113				—				1,226				1,224				2				1,212				1,210				2
Developed			815				815				—				889				887				2				905				903				2
Undeveloped			298				298				—				337				337				—				307				307				—
Revisions of previous estimates (2)			(96	)			(96	)			—				(89	)			(87	)			(2	)			71				70				1
Extensions and discoveries			80				80				—				122				122				—				147				147				—
Improved recovery			32				32				—				35				35				—				23				23				—
Purchase of minerals in place			2				2				—				31				31				—				—				—				—
Sale of minerals in place			—				—				—				(1	)			(1	)			—				(16	)			(16	)			—
Production for the year (3)			(202	)			(202	)			—				(211	)			(211	)			—				(211	)			(210	)			(1	)
At December 31, (4)			929				929				—				1,113				1,113				—				1,226				1,224				2
Developed			663				663				—				815				815				—				889				887				2
Undeveloped			266				266				—				298				298				—				337				337				—
Equity-accounted entities
At January 1,			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—
Revisions of previous estimates (2)			—				—				—				—				—				—				—				—				—
Extensions and discoveries			—				—				—				—				—				—				—				—				—
Improved recovery			—				—				—				—				—				—				—				—				—
Purchase of minerals in place			—				—				—				—				—				—				—				—				—
Sale of minerals in place			—				—				—				—				—				—				—				—				—
Production for the year (3)			—				—				—				—				—				—				—				—				—
At December 31, (4)			—				—				—				—				—				—				—				—				—
Developed			—				—				—				—				—				—				—				—				—
Undeveloped			—				—				—				—				—				—				—				—				—

		2017												2016												2015
Oil equivalent (1)		Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign				Worldwide				Argentina				Other foreign
		(Millions of barrels of oil equivalent)
Consolidated and Equity-accounted entities
At January 1,
Developed			815				815				—				889				887				2				905				903				2
Undeveloped			298				298				—				337				337				—				307				307				—
Total			1,113				1,113				—				1,226				1,224				2				1,212				1,210				2
At December 31,
Developed			663				663				—				815				815				—				889				887				2
Undeveloped			266				266				—				298				298				—				337				337				—
Total			929				929				—				1,113				1,113				—				1,226				1,224				2

* Not material (less than 1)

(1) Volumes of natural gas have been converted to barrels of oil equivalent at 5,615 cubic feet per barrel.

(2) Revisions in estimates of reserves are performed at least once a year. Revision of crude oil, natural gas liquids and natural gas reserves are considered prospectively in the calculation of depreciation.

(3) Barrel of oil equivalent production of consolidated entities for the years 2017, 2016 and 2015 includes an estimated approximately 25, 27 and 26 mmboe, respectively, in respect of royalty payments which, as described above, are a financial obligation, or are substantially equivalent to a production or similar tax. Barrel of oil equivalent production of equity-accounted entities in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, are not material.

(4) Proved oil equivalent reserves of consolidated entities as of December 31, 2017, 2016 and 2015 include an estimated approximately 119, 144 and 176 mmboe, respectively, in respect of royalty payments which, as described above, are a financial obligation, or are substantially equivalent to a production or similar tax. Proved oil equivalent reserves of equity-accounted entities in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, are not material.

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