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    Vicente Falanga Neto

    Senior Equity Analyst at Bradesco BBI

    Vicente Falanga Neto is a Senior Equity Analyst at Bradesco BBI, specializing in the petroleum, gas, and ESG (Environmental, Social, Governance) sectors. He has covered companies such as Vista Energy SAB de CV, Petroleo Brasileiro SA (Petrobras), Ultrapar Participações SA, and GeoPark Ltd, consistently contributing to leading research calls and earning top industry accolades—including ranking #1 for ESG Research and among the top three for Chemicals & Oil by Institutional Investor in 2024. Falanga Neto has built his career exclusively at Bradesco BBI, where his research has been recognized as best-in-class in both Brazil and Latin America by over 590 investors across more than 330 firms. He is frequently cited for his command of industry trends and holds professional credentials relevant to financial analysis, with recognized expertise in Latin American equity research.

    Vicente Falanga Neto's questions to Vista Energy, S.A.B. de C.V. (VIST) leadership

    Vicente Falanga Neto's questions to Vista Energy, S.A.B. de C.V. (VIST) leadership • Q2 2025

    Question

    Vicente Falanga Neto from Bradesco BBI asked if Vista would be willing to slow its growth even further to prioritize its balance sheet should oil prices fall and remain around the $50 per barrel level.

    Answer

    CEO Miguel Galuccio affirmed the company's flexibility, highlighting two key protections against low prices: a low cash cost base of approximately $20 per barrel (including royalties and taxes) and highly flexible drilling contracts due to a short capital cycle and no pending capital commitments. He confirmed that if Brent were to fall consistently below $55, Vista could cut new well CapEx almost immediately to protect the balance sheet, just as it did during the COVID-19 pandemic.

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    Vicente Falanga Neto's questions to Vista Energy, S.A.B. de C.V. (VIST) leadership • Q1 2025

    Question

    Vicente Falanga Neto asked for a comparison of the operational characteristics of La Amarga Chica versus Bajada del Palo Este and for details on potential new well designs to enhance productivity.

    Answer

    Miguel Galuccio, Chairman and CEO, described both as premier assets with comparable, best-in-class rock quality. He noted Bajada del Palo Este has slightly better average productivity but is at an earlier development stage with more upside. He emphasized that the focus is on sharing best practices with YPF to reduce costs and improve efficiency across both blocks, rather than detailing specific well design changes at this time.

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    Vicente Falanga Neto's questions to Vista Energy, S.A.B. de C.V. (VIST) leadership • Q3 2024

    Question

    Vicente Falanga Neto inquired about the sharp rise in Q3 CapEx despite similar well activity to Q2, asking if longer laterals were the cause and their expected impact on production.

    Answer

    Chairman and CEO Miguel Galuccio confirmed the CapEx increase was due to drilling longer laterals (3,200m vs. 2,800m), which is NPV-positive and increases a well's estimated ultimate recovery (EUR) from 1.5 million to approximately 1.8 million barrels.

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    Vicente Falanga Neto's questions to PETROBRAS - PETROLEO BRASILEIRO (PBR) leadership

    Vicente Falanga Neto's questions to PETROBRAS - PETROLEO BRASILEIRO (PBR) leadership • Q1 2025

    Question

    Vicente Falanga Neto asked about the slower-than-expected production ramp-up for certain FPSOs and inquired if the Gas & Energy segment's EBITDA would recover with the startup of Route 3.

    Answer

    Sylvia dos Anjos, Executive Director of E&P, and Renata Baruzzi, Executive Director of Engineering, explained that mature field revitalization projects naturally have a slower ramp-up than pre-salt fields. Mauricio Tolmasquim, Executive Director of Energy Transition, stated that the gas segment's performance is expected to improve significantly due to a new client acquisition strategy and the full operation of the UPGN Route 3.

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    Vicente Falanga Neto's questions to ULTRAPAR HOLDINGS (UGP) leadership

    Vicente Falanga Neto's questions to ULTRAPAR HOLDINGS (UGP) leadership • Q1 2025

    Question

    Vicente Falanga Neto from Banco Bradesco S.A. asked for an assessment of informal market practices, specifically the impact of tax solidarity measures in São Paulo, and whether these actions were causing illegal activities to migrate to other states.

    Answer

    Executive Leonardo Linden acknowledged that new laws for RenovaBio and ethanol taxation, along with São Paulo's special tax regimen, are important advances against irregularities. However, he cautioned that challenges like untaxed naphtha imports and non-compliance with biodiesel blending persist. He confirmed that proactive states like São Paulo are seeing benefits for the formal market but emphasized the need for constant vigilance as illegal operators are creative.

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    Vicente Falanga Neto's questions to GeoPark (GPRK) leadership

    Vicente Falanga Neto's questions to GeoPark (GPRK) leadership • Q3 2024

    Question

    Vicente Falanga Neto inquired about the Phoenix JV, asking for an update on the Confluencia well results and whether they would be released before December. He also asked for the production outlook for Mata Mora Norte through year-end.

    Answer

    Executive Rodolfo Terrado confirmed that the results for the three-well Confluencia pad are encouraging and will be shared before December. Regarding Mata Mora, he stated that October production was around 13,600 boe/d and expects year-end output to be in the 13,500 to 14,500 boe/d range as new wells stabilize.

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    Vicente Falanga Neto's questions to BRASKEM (BAK) leadership

    Vicente Falanga Neto's questions to BRASKEM (BAK) leadership • Q2 2024

    Question

    Vicente Falanga Neto asked about the impact of spiking container freight costs on domestic pricing and the drivers and expected duration of the recent surge in butadiene prices.

    Answer

    Executive Rosana Avolio explained that higher freight rates, driven by Red Sea conflicts, have a dual effect: they increase international resin prices and raise domestic prices through the import parity calculation. Regarding butadiene, she attributed the nearly 50% price increase to production shutdowns in Asia, and expects prices to remain elevated for the near term before normalizing.

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    Vicente Falanga Neto's questions to BRASKEM (BAK) leadership • Q2 2024

    Question

    Vicente Falanga Neto of Bradesco BBI asked about the impact of spiking container freight prices on Braskem's domestic market pricing and inquired about the drivers and expected duration of the recent surge in butadiene prices.

    Answer

    Executive Rosana Avolio stated that higher freight rates, driven by the Red Sea conflict, have a dual effect of increasing international resin prices and domestic prices through the import parity calculation. She noted that while rates normalized slightly in August, they remain elevated, supporting spreads into Q3. Regarding butadiene, she explained prices rose nearly 50% due to shutdowns in Asia and are expected to remain at high levels until at least the end of the month as production resumes.

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    Vicente Falanga Neto's questions to BRASKEM (BAK) leadership • Q2 2024

    Question

    Inquired about the impact of spiking container freight rates on domestic pricing and the potential to capture this delta in Q3. Also asked about the reasons for the spike in butadiene prices and whether it's expected to be a recurring issue.

    Answer

    The executive confirmed that increased freight rates from Red Sea conflicts raise resin prices and import parity, leading to higher domestic prices, an effect expected to continue into Q3. The butadiene price spike was due to shutdowns and lower supply in Asia; prices are expected to remain high in the short term. The positive effect of higher shipping costs on import parity is expected to persist in Q3.

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