The Vista oil company, whose operations are focused on the unconventional hydrocarbon formation Vaca Muerta, announced on Friday that it will invest $600 million this year in the areas it exploits in that field.
The investment projection for this year was revealed by the president and CEO of the company, Miguel Galuccio, presenting the results obtained in 2022 to investors.
The disbursements planned for this year represent an increase compared to what was achieved in 2022, of which 361.6 million were allocated to the development of its unconventional hydrocarbon activities and 106.7 million to infrastructure.
During 2022 the company, whose shares are listed on the Mexican and New York stock exchanges, completed and connected 28 shale oil wells (unconventional).
Vista, whose oil production increased 32% year over year last year to 40,078 barrels of oil equivalent per day (boe/day), has commissioned twenty new wells in 2022 in Bajada del Palo Oeste, an area which already has 60 wells in production wells.
The company has also put eight other wells into production at Bajada del Palo Este and Aguada Federal.
Vista, which he registered last year a net income of $269.5 million431.5% more than in 2021, announced this Thursday an agreement with the Argentine oil company Aconcagua that will allow it to strengthen its operations in Vaca Muerta.
Through the agreement reached, Vista will hand over the management of six conventional concessions en bloc to Aconcagua in the Argentine provinces of Neuquén (south-west) and Río Negro (south) in exchange for millionaire payments that it will allocate to its activities in unconventional hydrocarbons.
Vaca Muerta, the world’s second largest unconventional gas reserve and the fourth largest oil reserve of its kind, is experiencing strong exploration activity and incipient massive development, with millionaire investments by large multinationals and other medium-sized enterprises which this year would amount to 8,000 million dollars, according to official calculations.
Source: Clarin
