Vista informed the markets this Friday of an update on its 2023 projections in which it plans to invest US$600 million, reduce the lifting cost by 27%, increase its total production by 13% and reduce GHG emissions by 47%.
Ad was made in the presentation of annual results and the fourth quarter of 2022 of the companywhich was headed by the president and CEO of the company, Miguel Galuccio.
On the occasion, the outstanding data was the update of the investment figures for 2023 that will reach US$600 million and that they will focus on their operations in the unconventional formation of Vaca Muerta.
The company announced last Thursday that closed an agreement with the firm Aconcagua Energía for the operation of its conventional assets in the Neuquén basin, with which it will focus exclusively on the development of shale oil.
Vista estimated that the transaction, including the cash payment, retained production and the value of other associated trade agreements, It will be for a total of approximately US$ 400 million.
Regarding the results of 2022, It was highlighted that the total proven reserves as of December 31 reached 251.6 million barrels of oil equivalent (MMboe), an increase of 39% compared to 181.6 MMboe as of December 31, 2021.
The increase it was mainly driven by the performance in the areas that the company operates in Bajada del Palo Oeste and Aguada Federal.
The total production of 2022 was 25% higher than that of 2021, and exports of 6,567 MMboe represented 44% of the volume sold, with a year-on-year increase of 115%.
Vaca Muerta: Vista plans to invest 600 million dollars in 2023
The Vaca Muerta shale-oriented oil company presented its operating and financial results. It was the one that exported the largest amount of oil from the formation during 2022.
https://t.co/aWL66Y0xme— Victoria Terzaghi (@VicTerzaghi) February 24, 2023
Total revenues during 2022 were US$1,143 million, an increase of 75% compared to US$652 million in 2021, while export revenues during 2022 were US$574 million, 216% higher than during 2021.
Adjusted EBITDA for 2022 was US$764 million, resulting in an adjusted EBITDA margin of 67%. This value represents an increase of 101% compared to the adjusted EBITDA of US$ 380 million during 2021, driven by the increase in total revenues against the lower operating cost per boe.
