Sign in

    Leonardo Marcondes • Bank of America

    Leonardo Marcondes's questions to YPF SA (YPF) leadership

    Leonardo Marcondes's questions to YPF SA (YPF) leadership • Q2 2025

    Question

    Leonardo Marcondes from Bank of America asked for an update on the divestment timeline for the Andes project, details on Phase 2's production and EBITDA impact, and whether YPF anticipates a reduction in the government's oil export tariff.

    Answer

    CEO Horacio Daniel Marín reported that Andes Phase 1 is nearly complete. He detailed that Phase 2 involves divesting all remaining conventional blocks, which produce approximately 50,000 barrels of oil per day and 2 million cubic meters of gas per day, representing about 8% of 2024's EBITDA. The goal is for YPF to become a pure unconventional company. He stated that government tariff policy is a matter for the government to address.

    Ask Fintool Equity Research AI

    Leonardo Marcondes's questions to YPF SA (YPF) leadership • Q2 2025

    Question

    Leonardo Marcondes inquired about the expected timeline for completing both Phase 1 and Phase 2 of the Andes divestment project, the production and EBITDA impact of Phase 2, and whether there are any discussions with the government to reduce oil export tariffs.

    Answer

    CEO Horacio Daniel Marín stated that Andes Phase 1 is nearly finished, with final agreements pending in Rio Negro and Tierra del Fuego. He detailed that Andes Phase 2 involves all remaining conventional blocks, which produce approximately 50,000 barrels of oil per day and 2 million cubic meters of gas per day, representing about 8% of 2024's EBITDA. Regarding export tariffs, he stated that this is a matter for the government to decide.

    Ask Fintool Equity Research AI

    Leonardo Marcondes's questions to Vista Energy SAB de CV (VIST) leadership

    Leonardo Marcondes's questions to Vista Energy SAB de CV (VIST) leadership • Q2 2025

    Question

    Leonardo Marcondes from Bank of America inquired about the initial 30-day production (IP30) rates assumed in the guidance for La Amarga Chica and Bajada del Palo Este, and asked if there was further room to improve productivity through collaboration with YPF.

    Answer

    CEO Miguel Galuccio clarified that while La Amarga Chica's peak oil rates may seem slightly lower, this is due to different operator strategies for choke management. He emphasized that Vista prioritizes the well's Estimated Ultimate Recovery (EUR) over peak oil, and on that basis, La Amarga Chica is as good as Bajada Del Palo Este. He confirmed that open collaboration with YPF is already identifying opportunities to apply best practices and improve performance across both assets.

    Ask Fintool Equity Research AI

    Leonardo Marcondes's questions to Vista Energy SAB de CV (VIST) leadership • Q1 2025

    Question

    Leonardo Marcondes inquired whether Vista would continue to pursue other M&A opportunities following the major acquisition of the La Amarga Chica stake.

    Answer

    Chairman and CEO Miguel Galuccio affirmed that M&A remains a core part of Vista's strategy. He stated that the company's increased scale and stronger cash flow profile would support the continued assessment of new opportunities, while maintaining strict discipline on value accretion and strategic fit.

    Ask Fintool Equity Research AI

    Leonardo Marcondes's questions to Vista Energy SAB de CV (VIST) leadership • Q4 2024

    Question

    Leonardo Marcondes questioned why Vista does not accelerate its production growth further by adding more equipment, and if capital is a constraint, why not consider a follow-on offering.

    Answer

    CEO Miguel Galuccio responded that the company's planned 35-40% growth is already exceptionally high and that the key is finding the optimal pace to maximize the Net Present Value (NPV) of its assets by balancing development with derisking. He asserted that capital is not the constraint and believes the company, despite its high valuation multiple in LatAm, remains undervalued compared to U.S. peers with similar growth profiles.

    Ask Fintool Equity Research AI

    Leonardo Marcondes's questions to Vista Energy SAB de CV (VIST) leadership • Q3 2024

    Question

    Leonardo Marcondes asked about the timeline for exploring potential upside from different landing zones in Vaca Muerta, as highlighted in a corporate presentation.

    Answer

    Chairman and CEO Miguel Galuccio acknowledged the upside potential from testing new zones but clarified that 2025 will remain a year of 'full development' on primary targets. While they will continue to assess these other zones opportunistically to add future reserves, there is no plan to shift the main development focus next year.

    Ask Fintool Equity Research AI

    Leonardo Marcondes's questions to Ultrapar Participacoes SA (UGP) leadership

    Leonardo Marcondes's questions to Ultrapar Participacoes SA (UGP) leadership • Q2 2024

    Question

    Leonardo Marcondes inquired about Ultracargo's spot market dynamics and H2 outlook, the potential impact of an ANP (gas agency) strike on Ipiranga, and whether Ultrapar would consider expanding into other areas of the grains value chain.

    Answer

    Executive Andre Zaia characterized Ultracargo's lower Q2 spot volume as a one-off effect of import variability and expects a return to normal opportunities in H2. Executive Leonardo Linden did not anticipate a significant impact from a potential ANP strike. CEO Marcos Lutz confirmed no current plans to expand into the pure grains business but would analyze opportunities with discipline.

    Ask Fintool Equity Research AI