#Mexico City #Argentina #Vaca Muerta #Vista Energy #Petronas

Vista Energy Expands Its Portfolio with Petronas Acquisition

In a strategic move to bolster its operational scale and production capacity, Vista Energy, S.A.B. de C.V. has announced the acquisition of Petronas EP Argentina S.A. This acquisition is a significant addition for Vista, known for its continuous growth in the oil and gas sector, particularly focusing on the Vaca Muerta region in Argentina.

Overview of the Acquisition

On April 16, 2025, Vista publicly disclosed that its subsidiary, Vista Energy Argentina S.A.U, has secured full ownership of Petronas EP Argentina for $900 million in cash, supplemented by $300 million in deferred payments. Additionally, Vista will pay the sellers in American Depositary Shares, which are subject to lock-up agreements expiring in stages by 2026. This acquisition significantly enhances Vista's strategic position in Vaca Muerta, a highly sought-after area for unconventional oil production.

The La Amarga Chica unconventional concession, which Vista now wholly controls, covers 46,594 acres and is vital for expanding its production capabilities. This concession holds remarkable promise, with reported P1 reserves of about 280 million barrels of oil equivalent and possessing several operational wells that demonstrated substantial production outputs in recent quarters.

Strategic Implications for Vista Energy

Miguel Galuccio, Vista's Chairman, expressed that the acquisition not only elevates the scale of operations but also reduces operating costs, allowing for an expedited approach to fulfilling their long-term growth plans. Galuccio emphasized the high-margin, low-breakeven assets acquired through this deal, projecting an optimistic view on crude oil demand amid fluctuating market conditions.

This transaction aligns well with Vista's existing operational hubs, allowing for reduced logistical costs and operational synergies through shared resources and optimized drilling strategies. Vista estimates the potential for approximately 400 new well locations, further fortifying its infrastructure and production capabilities in Vaca Muerta.

Financial Highlights

From a financial standpoint, the acquisition is expected to significantly enhance Vista's revenue and profit margins. In 2024 alone, the La Amarga Chica leverage produced nearly 80,000 barrels of oil equivalent per day, a critical boost to Vista’s existing production, which in Q4-2024 was projected to reach a combined total of approximately 125,000 barrels per day post-acquisition.

The previous year saw Petronas EP Argentina generating $909 million in total revenues, with an Adjusted EBITDA margin of robust 73%. This momentum presents Vista with immediate cash flow advantages, which will be integral for funding ongoing and future projects while ensuring shareholder value remains at the forefront.

Conclusion

Vista Energy’s acquisition of Petronas EP Argentina S.A. is not just a game-changer in its operational capabilities but also a robust endorsement of its strategic vision in the oil and gas industry. By securing a substantial interest in the pivotal Vaca Muerta region, Vista is poised to enhance both its production integrity and market standing, ultimately creating substantial long-term value for its stakeholders as the global oil landscape evolves. As Vista moves forward, the integration of these assets will be closely watched by industry analysts and investors alike, marking a significant milestone in the company’s development narrative.