Executives at Argentina’s state energy firm Yacimientos Petrolíferos Fiscales SA (YPF) said their oil and gas fields are starting to return to work after the complete shutdown in April that became “the worst” month in the company’s history.

Argentina responded to the arrival of the coronavirus in March with strict lockdown measures that have only recently started to be relaxed.

“The worst now seems to be behind us and the performance of the company has started to show recovery,” CEO Sergio Affronti said during a third quarter earnings call Wednesday. He cautioned, however, that the company remains “far from normal levels.”

Production in the third quarter was 468,000 boe/d, compared with output of 514,000 boe/d in the same period last year.

YPF natural gas...