(Vista, 11.Jul.2024) – Vista Energy, S.A.B. de C.V. reported financial and operational results corresponding to Q2 2024.
Q2 2024 highlights:
- Total production in Q22024 was 65,288boe/d, a 40% increase compared to Q22023 and 19% above the previous quarter, mainly driven by solid well performance and ramp-up of activity in Vaca Muerta. Oil production in Q2 2024 was 57,204 bbl/d, a 46% increase y-o-y and 21% above the previous quarter.
- During Q22024, the average realized crude oil price was 71.8$/bbl, 2% above the average realized crude oil price of Q1 2024, and a 12% increase compared to Q2 2023. In Q2 2024, 64% of commercialized oil volumes were sold at export parity prices, combining both international and domestic markets.
- The realized natural gas price during Q2 2024 was 3.9 $/MMBtu, flat y-o-y. Average gas prices during the quarter were positively impacted by 14% of total volumes exported at an average price of 7.7 $/MMBtu.
- Total revenues in Q2 2024 were 396.7 $MM, a 66% increase y-o-y, mainly driven by strong production growth and higher oil realized prices. Net revenues during the quarter were 384.9 $MM. In Q2 2024, net revenues from sales at export parity prices were 250.6 $MM, combining both international and domestic markets. Net revenues from oil and gas exports were 154.2 $MM, representing 40% of total net revenues.
- Lifting cost in Q22024 was 4.5$/boe, a 6% decrease compared to Q22023, reflecting Vista’s low-cost operating model, fully focused on shale oil.
- Adjusted EBITDA for Q2 2024 was 288.4 $MM, a 90% increase y-o-y, mainly driven by strong revenue growth and lower lifting cost per boe. Adjusted EBITDA margin was 70%, 7 p.p. above Q2 2023.
- Adjusted Net Income during Q2 2024 totaled 71.7 $MM, a 25% increase y-o-y, mainly driven by higher Adjusted EBITDA, and partially offset by higher Current income tax expense and Depreciation, depletion and amortization. Adjusted EPS was 0.7 $/share in Q2 2024, compared to 0.6 $/share in Q2 2023.
- Capex during Q2 2024 was 346.0 $MM. The Company invested 266.8 $MM in drilling, completion and workover of Vaca Muerta wells (mainly in connection with the drilling of 14 wells and the completion of 14 wells), 63.2 $MM in development facilities, and 16.0 $MM in G&G studies, IT and other projects.
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