Vista announces the acquisition of Petronas Argentina

PR Newswire

04-16

MEXICO CITY, April 16, 2025 /PRNewswire/ -- Vista Energy, S.A.B. de C.V. ("Vista") (NYSE: VIST in the New York Stock Exchange; BMV: VISTA in the Mexican Stock Exchange) announced today that its ...

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(\"Vista\") (NYSE: VIST in the New York Stock Exchange; BMV: VISTA in the Mexican Stock Exchange) announced today that its ...</p>\n\n<a href=\"https://finance.yahoo.com/news/vista-announces-acquisition-petronas-argentina-142200321.html\">網頁鏈接</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vista announces the acquisition of Petronas Argentina</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVista announces the acquisition of Petronas Argentina\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">PR Newswire</strong><span class=\"h-time small\">2025-04-16 22:22</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>MEXICO CITY, April 16, 2025 /PRNewswire/ -- Vista Energy, S.A.B. de C.V. (\"Vista\") (NYSE: VIST in the New York Stock Exchange; BMV: VISTA in the Mexican Stock Exchange) announced today that its ...</p>\n\n<a href=\"https://finance.yahoo.com/news/vista-announces-acquisition-petronas-argentina-142200321.html\">網頁鏈接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/vista-announces-acquisition-petronas-argentina-142200321.html\">PR Newswire</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4017","symbol_name":"黃金","start_time":0,"source_url":"https://finance.yahoo.com/news/vista-announces-acquisition-petronas-argentina-142200321.html","article_id":"2527240591","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/vista-announces-acquisition-petronas-argentina-142200321.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2527240591","pubTimestamp":1744813320,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"MEXICO CITY, April 16, 2025 /PRNewswire/ -- Vista Energy, S.A.B. de C.V.   announced today that its subsidiary Vista Energy Argentina S.A.U  has acquired 100% of the capital stock of Petronas E&P Argentina S.A. , which holds a 50% working interest in La Amarga Chica unconventional concession , located in Vaca Muerta, Argentina, from Petronas Carigali Canada B.V. and Petronas Carigali International E&P B.V.  . The purchase price is comprised of US$ 900 million in cash, US$ 300 million in deferred cash payments and 7,297,507 American Depositary Shares representing Vista's series A shares  paid to the Sellers and subject to lock-up restrictions that will expire  with respect to 50% of the ADSs on October 15, 2025, and  with respect to the remaining 50% of the ADSs on April 15, 2026. The deferred cash payments will be paid 50% on April 15, 2029, and 50% on April 15, 2030, without accruing interest.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4017":"黄金","BK4585":"ETF&股票定投概念","BK4213":"石油与天然气的勘探与生产","BK4588":"碎股","VGZ":"Vista Gold Corp","VIST":"Vista Energy","BK4563":"昨日强势股"},"translate_title":"Vista宣布收购阿根廷国家石油公司","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VGZ":1,"VIST":0.9},"content_text":"MEXICO CITY, April 16, 2025 /PRNewswire/ -- Vista Energy, S.A.B. de C.V. (\"Vista\") (NYSE: VIST in the New York Stock Exchange; BMV: VISTA in the Mexican Stock Exchange) announced today that its subsidiary Vista Energy Argentina S.A.U (\"Vista Argentina\") has acquired 100% of the capital stock of Petronas E&P Argentina S.A. (\"PEPASA\"), which holds a 50% working interest in La Amarga Chica unconventional concession (\"LACh\"), located in Vaca Muerta, Argentina, from Petronas Carigali Canada B.V. and Petronas Carigali International E&P B.V. (jointly, the \"Sellers\") (the \"Transaction\"). The purchase price is comprised of US$ 900 million in cash, US$ 300 million in deferred cash payments and 7,297,507 American Depositary Shares representing Vista's series A shares (\"ADSs\") paid to the Sellers and subject to lock-up restrictions that will expire (i) with respect to 50% of the ADSs on October 15, 2025, and (ii) with respect to the remaining 50% of the ADSs on April 15, 2026. The deferred cash payments will be paid 50% on April 15, 2029, and 50% on April 15, 2030, without accruing interest.\nLACh spans across 46,594 acres in the black oil window of Vaca Muerta. As of December 31, 2024, it had 247 wells on production. In addition, as of December 31, 2023, LACh had 280 million barrels of oil equivalent (\"MMboe\") of P1 reserves according to the Argentine Secretary of Energy (at 100% working interest). During the fourth quarter of 2024, LACh produced 79,543 barrels of oil equivalent per day (\"boe/d\") at 100% working interest, of which 71,471 barrels per day (\"bbl/d\") were oil, according to the Argentine Secretary of Energy. Vista estimates LACh could potentially hold 400 new well locations to be drilled in its inventory (at 100% working interest). The remaining 50% of LACh is held by YPF S.A. (\"YPF\"), which is the operator of the concession.\nMiguel Galuccio, Vista's Chairman and CEO, commented, \"With this acquisition we gain significant scale in Vaca Muerta with a premium block that has growing production and low operating costs, enabling the acceleration of our long-term plan and strengthening our free-cashflow profile. The acquisition both increases our profitability and enhances our portfolio of ready-to-drill locations in the core area of Vaca Muerta. Importantly, in the current global macro and oil price environment we are consolidating a high-margin, low-breakeven asset, with strong synergies with our ongoing operation, reflecting our constructive long-term view on crude oil demand and supply dynamics. I firmly believe this represents a unique opportunity to create long-term value for our shareholders.\"\nTransaction highlights\n\nHighly accretive acquisition for our shareholders, comparing implied EV/EBITDA, EV/flowing barrels, EV/P1 reserves and price-to-earnings (P/E) metrics to Vista metrics;\nLow-cost, high-margin, high-return, cashflow-generating asset, as LACh's lifting cost, Adjusted EBITDA margin and Return on Average Capital Employed are in line with Vista's operating and financial metrics for the year 2024, whilst supporting our path to positive free-cashflow generation;\nIncreased scale, as Vista consolidates through PEPASA an oil and gas production volume that is approximately 47% of its Q4-24 production, leading to a pro forma total production of 125,048 boe/d for Q4-24;\nPortfolio enhancement, with an estimated inventory of 200 ready-to-drill wells at Vista's 50% working interest in the core of Vaca Muerta, and geographically located next to Vista's development hub;\nOperating synergies based on the proximity of LACh to Vista's development hub, which could translate into potential savings related to sharing surface facilities, optimizing well placement close to the limits between LACh and Vista's development hub, streamlining new well design and sharing general services;\nSignificant oil midstream capacity is consolidated through the acquisition, as PEPASA has approximately 57,000 bbl/d transportation capacity and 48,000 bbl/d export dispatch capacity in several key midstream projects.\n\nIn order to carry out the Transaction, own funds and funds from the Transaction financing were used, consisting of a credit agreement between Vista Argentina as borrower and Banco Santander, S.A. as lender, for a total amount of US$ 300 million. This credit agreement has a term of four years.\nPEPASA key facts\nPEPASA is a company incorporated under the laws of Argentina and founded in 2014. PEPASA's main asset is a 50% working interest in the unconventional hydrocarbons concession La Amarga Chica, located in the Vaca Muerta play in the Neuquina Basin, Argentina. For the development of the asset, PEPASA entered into a joint venture with YPF, the operator of the concession. The LACh unconventional concession expires in December 2049.\nDriven by oil and gas production from La Amarga Chica block, during 2024, PEPASA's total revenues were US$ 909 million1. In addition, Adj. EBITDA of PEPASA during 2024 was US$ 667 million, leading to an Adj. EBITDA margin of 73%. Net profit for the period was US$ 349 million for the fiscal year 2024.\nIn addition, PEPASA has secured the following transportation and dispatch capacity in key oil midstream infrastructure:\n\nIn the Oldelval pipelines: a total of 36,140 bbl/d comprised of (i) open access capacity for 18,806 bbl/d and (ii) contracted transportation capacity in Duplicar for 17,334 bbl/d;\nIn the Vaca Muerta Norte pipeline: contracted transportation capacity of 20,756 bbl/d;\nIn the OTE terminal: a total export dispatch capacity of 27,080 bbl/d.\n\nLa Amarga Chica key stats (Q4-24)2\n\n\n\n\n\n100% WI \n50% WI \n\n\nSurface area, acres                                         \n46,594 \n23,297 \n\n\nTotal Production, boe/d \n79,543 \n39,772 \n\n\nOil production, bbl/d \n71,471 \n35,735 \n\n\nP1 reserves, MMboe \n280 \n140 \n\n\nWells on production \n247 \n124 \n\n\nLifting cost, $/boe \n4.1 \n4.1 \n\n\n\n\n\n\n\n\n\n\n\n\nAbout Vista\nVista is an oil and gas company fully focused on the Vaca Muerta play located in the Neuquina Basin, Argentina. Founded in 2017, it is currently listed on the Bolsa Mexicana de Valores (Ticker: VISTA) and the New York Stock Exchange (Ticker: VIST). According to the Argentine Secretary of Energy, during 2024 Vista was the second largest oil producer In Vaca Muerta, and the third largest oil producer of Argentina. Vista constitutes a unique pure play public investment opportunity in Vaca Muerta.\nUnaudited pro forma consolidated statement of profit or loss and other comprehensive income for the year ended December 31, 2024 (US$ thousand):\n\n\n\n\n\nYear endedDecember 31, 2024 \n\nPro formaadjustments 2024 \n\n\nYear ended December 31, 2024 Proforma \n\n\nRevenues from sales to clients \n1,647,768 \n\n908,923 \n\n\n2,556,691 \n\n\nCost of sales: \n\n\n\n\n\n\n\n\nOperating costs \n(116,526) \n\n(55,119) \n\n\n(171,645) \n\n\nFluctuation in crude oil inventory \n1,720 \n\n(422) \n\n\n1,298 \n\n\nRoyalties and other \n(243,950) \n\n(104,245) \n\n\n(348,195) \n\n\nDepreciation, depletion and amortization \n(437,699) \n\n(262,081) \n\n\n (699,780) \n\n\nOther non-cash costs related to the disposal of conventional assets \n(33,570) \n\n- \n\n\n(33,570) \n\n\nGross profit \n817,743 \n\n487,056 \n\n\n1,304,799 \n\n\n\n\n\n\n\n\n\n\n\nCost of sales \n(140,334) \n\n(45,324) \n\n\n(185,658) \n\n\nOverhead and administration costs \n(108,954) \n\n(25,395) \n\n\n(134,349) \n\n\nExploration expenses \n(138) \n\n- \n\n\n(138) \n\n\nOther operating income \n54,127 \n\n- \n\n\n54,127 \n\n\nOther operating expenses  \n(1,261) \n\n(11,685) \n\n\n(12,946) \n\n\nReversal of impairment of long-livedassets \n4,207 \n\n- \n\n\n4,207 \n\n\nOperating income \n625,390 \n\n404,652 \n\n\n1,030,042 \n\n\n\n\n\n\n\n\n\n\n\nInterest income \n4,535 \n\n- \n\n\n4,535 \n\n\nInterest expense \n(62,499) \n\n(53,220) \n\n\n(115,719) \n\n\nOther financial results \n23,401 \n\n(37,633) \n\n\n(14,232) \n\n\nFinancial results, net \n(34,563) \n\n(90,853) \n\n\n(125,416) \n\n\n\n\n\n\n\n\n\n\n\nIncome before taxes \n590,827 \n\n313,799 \n\n\n904,626 \n\n\n\n\n\n\n\n\n\n\n\nCurrent income tax expense \n(426,288) \n\n(140,405) \n\n\n(566,693) \n\n\nDeferred income tax benefit \n312,982 \n\n175,388 \n\n\n488,370 \n\n\n(Expense) income tax benefit \n(113,306) \n\n34,983 \n\n\n(78,323) \n\n\n\n\n\n\n\n\n\n\n\nNet income for the year \n477,521 \n\n348,782 \n\n\n826,303 \n\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of pro forma Adjusted EBITDA for the year ended December 31, 2024 (US$ thousand):\n\n\n\n\n\nYear ended December 31, 2024 \n\nPro forma adjustments 2024 \n\n\n\nYear ended December 31,2024 Proforma \n\n\nOperating income \n625,390 \n\n404,652 \n\n\n\n1,030,042 \n\n\nDepreciation, depletion and amortization \n437,699 \n\n262,081 \n\n\n\n699,780 \n\n\nOther non-cash costs related to thetransfer of conventional assets \n33, 570 \n\n- \n\n\n\n33, 570 \n\n\nReversal of impairment of long- lived assets \n(4,207) \n\n- \n\n\n\n(4,207) \n\n\nAdjusted EBITDA \n1,092,452 \n\n666,733 \n\n\n\n1,759,185 \n\n\n\n\nForward Looking Statements\nAny statements contained herein or in the attachments hereto regarding Vista or any of its subsidiaries that are not historical or current facts are forward-looking statements. These forward-looking statements convey Vista's current expectations or forecasts of future events. Vista undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated events. Forward-looking statements regarding Vista involve known and unknown risks, uncertainties and other factors that may cause Vista's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the \"Risk Factors,\" \"Forward-Looking Statements\" and other applicable sections of Vista's annual report filed with the SEC on Form 20-F and other applicable filings with the SEC and Vista's latest annual report available on the Mexican Stock Exchange's (Bolsa Mexicana de Valores, S.A.B. de C.V.) website: www.bmv.com.mx, the Mexican National Banking and Securities Commission's (Comisión Nacional Bancaria y de Valores) website: www.gob.mx/cnbv and our website: www.vistaenergy.com.\nEnquiries:\nInvestor Relations:ir@vistaenergy.comArgentina: +54 11 3754 8500Mexico: +52 55 1555 7104\n1 Financial performance figures in this paragraph based on Unaudited pro forma consolidated statement of profit or loss and other comprehensive income for the year ended December 31, 2024, shown below.2 Except P1 Reserves, which are stated as of December 31, 2023, according to filing with the Argentine Secretary of Energy, and lifting cost, which is stated for FY-2024\n\n\n\n\n\n View original content to download multimedia:https://www.prnewswire.com/news-releases/vista-announces-the-acquisition-of-petronas-argentina-302430460.html\nSOURCE Vista Energy, S.A.B. de C.V.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation,merge","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}