Transformational Acquisition
Vista completed the acquisition of a 50% stake in La Amarga Chica, significantly increasing its size and positioning it as the largest independent oil producer and exporter in Argentina.
Significant Production Increase
Total production was 118,000 boes per day, an increase of 81% year-over-year, with oil production at 102,000 barrels per day, up 79% year-over-year.
Revenue and Export Growth
Total revenues during the quarter were $611 million, 54% above the same quarter of last year, with oil exports tripling year-over-year to 5.6 million barrels.
Cost Efficiency Improvements
Selling expenses per boe decreased by 41% quarter-over-quarter, and drilling and completion costs per well reduced by 10% through innovation and contract renegotiations.
Adjusted EBITDA Growth
Adjusted EBITDA was $405 million, a 40% increase year-over-year, with a 4 percentage point sequential increase in adjusted EBITDA margin.
Future Growth Potential
The company forecasts production between 125,000 and 128,000 boes per day for the second semester, with an adjusted EBITDA forecast between $1.5 billion and $1.6 billion for the year.