Oil company Vista presented a better-than-expected balance sheet and its shares flew 18% to Wall Street

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Oil company Vista presented a better-than-expected balance sheet and its shares flew 18% to Wall Street

Miguel Galuccio, owner of Vista Oil & Gas.

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After presenting the financial statements for the second quarter of 2022, the shares of the oil company Vista rose 17% on the New York Stock Exchange. they have arrived $ 8.22 per cardstill below $ 10 when it debuted on Wall Street in July 2019. Vista stock was worth less than $ 3 in early 2021.

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Driven by the strong growth in extraction volumes that it is recording in the wells in which it exploits Dead cowa significant improvement in productivity – less cost per barrel – and the sustained international price of crude oil, the company that leads Miguel Galuccio showed higher than expected investor numbers.

Data coming out of the quarterly results

It increased oil production by 17% and total hydrocarbon production by 12%in both cases compared to the same period of 2021.

– Adjusted EBITDA (earnings before interest, taxes, amortization and write-downs) of $ 202.1 million, a 98% year-over-year increase.

– The company also announced that it has increased its investment forecast for 2022 from $ 400 million to 500 million dollars.

Adjusted net income was $ 82.3 millioncompared to $ 17.5 million recorded in the second quarter of 2021.

Revenue was $ 294.3 million78% more than the $ 165.3 million generated in the second quarter of 2021, driven by increased oil production and realized prices.

In the period, 42% of oil sales volumes (1.5 million barrels) were exported for a total of $ 147 million in revenues.

It expects adjusted EBITDA of $ 750 million for the year, well above the $ 625 million it had previously estimated.

As for the business in its blocks, the company will go into production 8 additional shale oil wells on the floor close 2022 with 32 new unconventional oil wells, compared to 24 announced last quarter.

Source: Clarin

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