Vista Energy, S.A.B. de C.V. (VIST) Company Report

Analyst Coverage

Research analysts who have asked questions during Vista Energy, S.A.B. de C.V. earnings calls.

Alejandro Anibal Demichelis

Jefferies

4 questions for VIST

Also covers: CAAP, GPRK, SCCO +2 more

Andres Cardona

Citigroup Inc.

4 questions for VIST

Also covers: CAAP, EC, LOMA +1 more

Bruno Montanari

Morgan Stanley

4 questions for VIST

Also covers: BAK, CSAN, EC +4 more

Leonardo Marcondes

Bank of America

4 questions for VIST

Also covers: BAK, UGP, YPF

Bruno Amorim

The Goldman Sachs Group, Inc.

3 questions for VIST

Also covers: CSAN, EBR, ELP +3 more

Daniel Guardiola

BTG Pactual

3 questions for VIST

Also covers: EC, GPRK, YPF

Tasso Vasconcellos

UBS Group AG

3 questions for VIST

Also covers: BAK, YPF

Vicente Falanga Neto

Bradesco BBI

3 questions for VIST

Also covers: BAK, GPRK, PBR +1 more

George Gasztowtt

Latin Securities

2 questions for VIST

Kevin MacCurdy

Pickering Energy Partners

2 questions for VIST

Also covers: AR, CHRD, CNX +13 more

Marina Mertens

Latin Securities

2 questions for VIST

Also covers: CAAP

Matías Cattaruzzi

Adcap Grupo Financiero

2 questions for VIST

Also covers: BMA, YPF

Oriana Covault

Balanz

2 questions for VIST

Francisco Javier Cascarón

DON Capital

1 question for VIST

Henrique da Cunha

JPMorgan Chase & Co.

1 question for VIST

Ignacio Sabelle Ramirez

Itau BBA

1 question for VIST

Juan Jose Munoz

BTG Pactual

1 question for VIST

Also covers: EC, GPRK, YPF

Melanie Carvalho

JPMorgan Chase & Co.

1 question for VIST

Rodolfo De Angele

JPMorgan Chase & Co.

1 question for VIST

Also covers: GGB, PBR, SUZ +2 more

Victor Modanese Teixeira

UBS

1 question for VIST

Also covers: CSAN

Walter Chiarvesio

Banco Santander, S.A.

1 question for VIST

Also covers: GGAL

Latest news

Recent press releases and 8-K filings for VIST.

Vista Energy Announces Corporate Reorganization and Asset Acquisitions

VIST

M&A

New Projects/Investments

Vista Energy, S.A.B. de C.V. (VIST) is undergoing a corporate reorganization that includes the acquisition of 100% of Equinor Argentina S.A.U. (30% working interest in Bandurria Sur) and 50% of the non-operating working interest in Bajo del Toro block, followed by assignments to YPF.
The net price for the transaction involves US$387 million in cash and 6,223,220 Vista ADSs (valued at US$52.2 per share), with the total cash consideration net of YPF's proceeds being US$712 million.
This transaction, expected to close in the second quarter of 2026, aims to significantly enhance Vista's asset portfolio by adding 27,733 net acres and approximately 244 net wells in the Vaca Muerta core area.
Pro forma financial statements, reflecting this transaction and the Petronas acquisition, show total assets of $7,241,783 thousand and total equity of $2,869,069 thousand as of December 31, 2024.
Pro forma revenue was $2,924,137 thousand for the year ended December 31, 2024, and $2,320,402 thousand for the nine-month period ended September 30, 2025.

3 days ago

6-K

Vista Energy Announces Acquisition of Equinor's Vaca Muerta Assets

VIST

M&A

New Projects/Investments

Vista Energy, S.A.B. de C.V. announced an agreement to acquire a 25.1% non-operating working interest in the Bandurria Sur block and a 35.0% non-operating working interest in the Bajo del Toro block from Equinor, with a total consideration of approximately US$712 million at closing, paid through US$387 million in cash and 6,223,220 American Depositary Shares.
The transaction is expected to be highly accretive for shareholders and will significantly enhance Vista's portfolio by adding 21,869 boe/d of oil and gas production as of Q3-25 and 54 MMboe of P1 reserves as of year-end 2024.
Vista anticipates the closing of the acquisition to occur during Q2-26.

3 days ago

6-K

Vista Energy Shareholders Approve Acquisitions and Financing Plans

VIST

M&A

Debt Issuance

Proxy Vote Outcomes

Vista Energy's shareholders, at an Ordinary General Meeting on January 27, 2026, approved the company's ability to undertake Potential Acquisitions of hydrocarbon exploration and exploitation rights and related assets, with the total amount not exceeding 50% of consolidated assets within a 12-month period. The Board of Directors was delegated authority to determine the final terms.
Shareholders also approved the company and its subsidiaries incurring financing debt and increasing the variable portion of capital stock (up to 15% of outstanding Series A shares, excluding preemptive rights) to fund these acquisitions, with both financing and capital increase terms delegated to the Board of Directors.
These resolutions revoke and replace prior authorizations from the 2025 Shareholders' Meeting concerning the same matters.

Jan 27, 2026, 9:15 PM

6-K

Vista Energy Calls Shareholders' Meeting to Approve M&A, Financing, and Capital Increase

VIST

M&A

Debt Issuance

New Projects/Investments

Vista Energy, S.A.B. de C.V. will hold an Ordinary General Shareholder’s Meeting on January 27, 2026, at 11:00 AM (Mexico City time).
The meeting agenda includes proposals to approve acquisitions of unconventional hydrocarbon reserves and resources ("Potential Acquisitions") that represent more than 20% but not exceeding 50% of the Company's consolidated assets within a 12-month period.
Shareholders will vote on authorizing the Company to incur financing debt and to increase the variable portion of its capital stock (up to 15% of outstanding Series A shares, excluding preemptive rights) to fund these acquisitions.
These new approvals will revoke and replace authorizations granted at the March 3, 2025 Shareholders' Meeting.

Dec 16, 2025, 1:35 PM

6-K

Vista Energy's Subsidiary Prices $400 Million in Senior Notes

VIST

Debt Issuance

Vista Energy, S.A.B. de C.V.'s main subsidiary, Vista Energy Argentina S.A.U., has priced U.S.$400,000,000 in aggregate principal amount of 8.500% senior notes due 2033.
The notes were issued at an issue price of 101.236%, equivalent to a yield to average life of 8.250%, with the offering expected to close on December 10, 2025.
This issuance will bring the total aggregate principal amount outstanding of Vista Argentina's 2033 Notes to U.S.$900,000,000 upon closing.
The offering was conducted under New York law and pursuant to Rule 144A and Regulation S.

Dec 3, 2025, 10:29 PM

6-K

Vista Outlines Ambitious Growth and Financial Targets Through 2030

VIST

Guidance Update

New Projects/Investments

Share Buyback

Vista projects to increase production to 180,000 barrels of oil equivalent per day (BOE/day) by 2028 and over 200,000 BOE/day by 2030, a significant rise from 114,000 BOE/day in 2025.
Adjusted EBITDA is forecast to grow from $1.6 billion in 2025 to $2.8 billion by 2028, reflecting a 75% increase.
The company expects to generate $1.5 billion in cumulative free cash flow between 2026 and 2028, with annual free cash flow projected to reach $1.5 billion by 2030.
Drilling and completion costs have been reduced to $12.3 million per well and are targeted to decrease further to $11 million by the end of 2028.
Vista plans to prioritize share buybacks to return cash to shareholders, particularly while the stock is perceived to be at a discount.

Nov 12, 2025, 2:00 PM

Transcript

Vista Energy Announces New 2026-2028 Targets and 2030 Vision

VIST

Guidance Update

New Projects/Investments

Share Buyback

Vista announced new 2026-2028 targets and a 2030 vision, projecting production to increase from 114,000 barrels of oil equivalent per day (BOE/day) in 2025 to 180,000 BOE/day by 2028, and over 200,000 BOE/day by 2030.
Adjusted EBITDA is forecast to grow from approximately $1.6 billion in 2025 to $2.8 billion by 2028, with an adjusted EBITDA margin remaining around 65%.
The company expects to generate cumulative free cash flow of $1.5 billion between 2026 and 2028 (assuming Brent at $65 in 2026 and $70 thereafter), with annual free cash flow reaching $1.5 billion by 2030.
Capital expenditure is planned at $1.5 billion to $1.6 billion per year between 2026 and 2028, while drilling and completion costs per well are expected to decrease from $12.3 million today to $11.0 million by 2028.
Vista aims to reduce its net leverage ratio from 1.5 times today to below 1 time by 2028, and will prioritize share buybacks for returning cash to shareholders.

Nov 12, 2025, 2:00 PM

Transcript

Vista Energy Updates 2030 Vision and Financial Targets

VIST

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Vista Energy projects substantial growth, targeting 180 Mboe/d production and $2.8 billion in Adjusted EBITDA by 2028, with an annual recurring free cash flow of $1.5 billion by 2030, which is 33% above the forecast from September 2023.
The company has become the largest independent oil producer and exporter in Argentina, achieving approximately threefold production growth and fourfold Adjusted EBITDA growth since 2021.
Vista Energy plans to double export revenues in the next three years, aiming for approximately 75% of oil export volumes by 2028, and expects to reduce its net leverage ratio to below 1.0x by 2028.
The company has expanded its well inventory to 1,653 wells and increased oil treatment and pipeline capacities to 178 Mbbl/d and 194 Mbbl/d, respectively, while also targeting a reduction in drilling and completion costs to $11.0 million per well by YE-28F.