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

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.

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.