Vaca Muerta accelerates and Vista announces a new investment

Due to the acceleration of activity in Vaca Muerta, Vista expects to reach its production goal in 2025 which had been set for 2026, with 100,000 barrels of oil equivalent per day (boe/d). and announced to investment estimated between 1.1 billion dollars and 1.3 billion dollars to connect 60 new wellswith a Expected EBITDA From 1,650 million dollarswhich represents year-on-year growth in excess of 40%.

This was anticipated this Thursday Miguel Galucciopresident and CEO of the oil company, a month after contact the bell of Wall Street in celebration of the company’s fifth anniversary, which has established itself as a major operator in the Neuquén basin and a direct investment vehicle for Vaca Muerta.

In the presentation of the results corresponding to the third quarter 2024, the company indicated that the plan is in line with capital allocation priorities which were presented in the last one Investor Day. The objective update was promoted by three significant stages happened this year, he explained.

On the one hand, it is targeted achieve an average production of 85,000 boe/d in the fourth quarter due to increased activity in Neuquén. It will represent an increase of more than that 50% compared to the same period of the previous year.

In the third quarter, achieved total production of 72,825 boe/d, an increase in 47% compared to the same period in 2023. Oil production accounted for 63,499 bbl/dwhich reflects an increase 53% year after year.

“The growth was driven by increased well activitymainly, having connected 51 new over the last 12 months with excellent levels of productivity”, underlines the company, adding that, based on these results, exported 3.5 million barrels of crude oil in the quarter, a 57% more than in the same period of 2023.

Secondly, as evidenced by a milestone a crude oil carrying capacity of 124,000 boe/d by the end of 2025. And finally, highlighted the incorporation of a third rig and a second fracture setwhich gives it the ability to continue growing into the next year, he explained.

With these new goals, he anticipated it is outlining a new long-term plan which will be presented next year. Total revenue in the third quarter was 462 million dollarsA 53% more than the previous year, mainly due to the increase 53% in oil production. Meanwhile, the Adjusted EBITDA reached the 310 million dollarsan increase in 37% year after year.

The numbers spread exceeded expectations of analysts, causing an increase in the value of its shares in the after-sales market: the net profit of $165.5 million which Vista reported was higher than $112.69 million provided by specialists. Therefore, the ADR is increased 3.7% until US$49.50reflecting investor confidence in the results presented.

Vista exports more than 50% of its production to destinations such as Brazil, Chile and the West Coast of the United States. And aim to send at least the 60% of its production by 2026. In 2023 it invested approx 800 million dollars. Galuccio respected him Vaca Muerta could produce 1 million barrels per day in 2030which would allow the country to generate some of them 20 billion dollars per year. “A wet pampa with no risk of rain,” he alluded to, in reference to the importance of agriculture in generating foreign currency and the weight gained by oil activity.