YPF SA is an Argentina-based integrated oil and gas company. The Company's upstream operations consist of the exploration, development and production of crude oil, natural gas and liquefied petroleum gas (LPG). Its downstream operations include the refining, marketing, transportation and distribution of oil and a wide range of petroleum products, petroleum derivatives, petrochemicals, LPG and bio-fuels. The Company's retail distribution network for automotive petroleum products consists of approximately 1,500 service stations under brand YPF. It is active in the gas separation and natural gas distribution sectors both directly and through investments in several affiliated companies. In February 2014, the Company acquired Petrobras Argentina SA's 38.45% participation in the concession contract UTE Puesto Hernandez executed between both companies for the exploration of the Puesto Hernandez area (the area). In April 2014, the Government of Argentina owned a 51% stake in the Company.