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MEXICO CITY - Vista Energy, S.A.B. de C.V. (NYSE: VIST; BMV: VISTA) has announced the acquisition of Petronas E&P Argentina S.A. (PEPASA) through its subsidiary Vista Energy Argentina S.A.U., acquiring a 50% stake in the La Amarga Chica concession in the Vaca Muerta shale formation. The transaction, valued at $900 million in cash, $300 million in deferred payments, and over 7 million American Depositary Shares, expands Vista’s footprint in the prolific Argentinian shale play.
La Amarga Chica, covering over 46,000 acres, is a significant unconventional oil and gas asset with 247 wells producing as of the end of 2024. The concession, operated by YPF S.A., had reported production rates of nearly 80,000 barrels of oil equivalent per day in the fourth quarter of 2024, with 280 million barrels of oil equivalent in P1 reserves.
Vista’s Chairman and CEO, Miguel Galuccio, highlighted the strategic importance of the acquisition, noting its alignment with the company’s long-term plan and its potential to enhance profitability and free-cashflow profile. The deal is expected to be highly accretive to shareholders and includes an inventory of approximately 200 ready-to-drill wells, which could lead to increased production scale and operational synergies. InvestingPro analysis shows strong analyst confidence in Vista’s future, with a consensus "Strong Buy" recommendation and significant upside potential. Get access to 12 additional exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
The financing for the acquisition included a $300 million credit agreement with Banco Santander, S.A., and is expected to generate cost savings and operational efficiencies due to the proximity of Vista’s existing development hub.
In 2024, PEPASA’s revenues reached $909 million, with an Adjusted EBITDA of $667 million, reflecting a robust margin of 73%. The company also boasts significant transportation and export capacities through key oil midstream infrastructure. Vista itself has demonstrated strong performance, with a last-twelve-months EBITDA of $1.04 billion and revenue growth of 41%, according to InvestingPro’s detailed financial analysis. Discover Vista’s complete financial health score and access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Vista, a prominent player in the Vaca Muerta shale, was the second-largest oil producer in the region and the third-largest in Argentina in 2024. The acquisition is part of Vista’s strategy to consolidate its position as a leading oil and gas company in the Neuquina Basin.
The information reported is based on a press release statement from Vista Energy, S.A.B. de C.V.
In other recent news, Vista Energy has announced the acquisition of Petronas E&P Argentina for $1.2 billion. This deal involves $900 million in cash and $300 million in deferred payments, alongside over 7 million Vista American Depositary Shares. The acquisition significantly boosts Vista’s production capacity by approximately 47% and provides access to 200 ready-to-drill well locations in the Vaca Muerta shale formation. Furthermore, Vista Energy has reported robust financial results for the full year and fourth quarter of 2024, reflecting strong operational performance and strategic initiatives. Although specific financial metrics were not disclosed, the company emphasized its effective strategies in maintaining a strong position within the energy sector. In a separate development, Citi has upgraded Vista Oil & Gas from a Neutral to a Buy rating, setting a price target of $66. Citi analysts highlight the company’s compelling valuation and robust production growth outlook as key factors for this upgrade. They also noted the potential benefits from capital recycling processes in the Vaca Muerta shale formation, which could open new growth opportunities for Vista.
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