Loading...
01/11 03:34
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call reflects strong financial performance with significant production growth and improved EBITDA margins. The acquisition of Petronas Argentina is expected to enhance EBITDA and margins further. While there are concerns about debt management, the overall sentiment from the Q&A suggests confidence in synergies and production growth. The removal of 2025 guidance due to the acquisition could be a potential concern, but the strong operational metrics and strategic moves outweigh this, indicating a positive outlook for the stock price over the next two weeks.
Production 80,900 BOEs per day, an increase of 47% year-over-year.
Oil Production 69,600 barrels per day, also 47% year-over-year increase.
Total Revenues $438 million, 38% higher year-over-year, driven by strong increase in oil production.
Lifting Cost $4.7 per BOE, 8% above year-over-year.
Capital Expenditure $268 million, driven by 16 wells drilled and 10 wells completed during the quarter.
Adjusted EBITDA $275 million, an interannual increase of 25%.
Net Income $83 million, implying a quarterly EPS of $0.9 per share.
Free Cash Flow -$243 million during the quarter as we initiated a year of very strong growth.
Cash Flow from Operating Activities $66 million, reflecting an increase in working capital of $59 million.
Cash Flow Used in Investing Activities $310 million, reflecting accrued CapEx of $268 million.
Cash Flow from Financing Activities $219 million, reflecting proceeds from borrowings of $341 million.
Cash at Period End $740 million.
Net Leverage Ratio 0.84x adjusted EBITDA.
Realized Oil Price $68.6 per barrel on average, down 2% year-over-year, mainly driven by lower international prices.
Selling Expenses per BOE Decreased by 19% on a sequential basis, driven by savings in truck costs.
Adjusted EBITDA Margin Expanded 5 percentage points on a sequential basis, driven by higher oil prices and lower selling expenses.
Netback Expanded 9% during the quarter to $37.8 per BOE.
P1 Reserves 140 million BOEs at year end 2023, significant addition to the 375 million BOEs of P1 reserves booked by Vista.
Acquisition Price for Petronas Argentina $900 million in cash, a deferred cash payment of $300 million at zero interest and 7.3 million Vista shares.
Pro Forma Production 125,000 BOE per day for Q4 2024, an increase of 47%.
La Amarga Chica Lifting Cost $4.1 per BOE in 2024, reflecting a robust operating model.
Adjusted EBITDA Improvement from Acquisition Improved adjusted EBITDA by 61% on a pro forma basis.
Adjusted EBITDA Margin Improvement from Acquisition Improved by 3 percentage points from 65% to 68% on a pro forma basis.
Acquisition of Petronas Argentina: Vista announced the acquisition of Petronas Argentina for $900 million in cash, a deferred payment of $300 million, and 7.3 million shares, totaling an NPV of approximately $1.3 billion. This acquisition consolidates 50% of La Amarga Chica, significantly enhancing Vista's production capacity and reserves.
Production Growth: In Q1 2025, Vista's production reached 80,900 BOEs per day, a 47% increase year-over-year, with oil production at 69,600 barrels per day.
Oldelval Duplicar Pipeline: The inauguration of the Oldelval Duplicar pipeline has reduced selling expenses significantly, with a forecast to eliminate trucking volumes by Q2.
Capital Expenditure: Capital expenditure for the quarter was $268 million, driven by drilling and completion of wells.
Adjusted EBITDA: Adjusted EBITDA for Q1 2025 was $275 million, a 25% increase year-over-year.
Strategic Shift: Following the acquisition, Vista is revising its 2025 market guidance, indicating a strategic shift in focus and operations.
Acquisition Risks: The acquisition of Petronas Argentina, while seen as transformational, carries risks related to integration challenges, potential overvaluation, and reliance on future oil price stability.
Market Volatility: The company acknowledges the backdrop of high market volatility, which poses risks to cash flow and operational stability.
Regulatory Issues: As a company operating in Mexico and the U.S., Vista may face regulatory challenges that could impact operations and financial performance.
Supply Chain Challenges: The company has made significant investments in infrastructure, such as the Oldelval Duplicar pipeline, which may face operational risks or delays.
Economic Factors: Fluctuations in oil prices and economic conditions can affect revenue generation and overall financial health.
Debt Management: With a net leverage ratio of 0.84x adjusted EBITDA, there are risks associated with managing debt levels, especially in a volatile market.
Acquisition of Petronas Argentina: Vista announced the acquisition of Petronas Argentina for $900 million in cash, a deferred payment of $300 million, and 7.3 million shares, totaling an NPV of approximately $1.3 billion. This acquisition consolidates 50% of La Amarga Chica, enhancing Vista's production capacity and inventory.
Production Growth: In Q1 2025, Vista achieved a production of 80,900 BOEs per day, a 47% increase year-over-year, driven by the connection of 49 new wells.
Oldelval Duplicar Pipeline: The inauguration of the Oldelval Duplicar pipeline significantly reduced selling expenses and is expected to eliminate trucking volumes by the end of Q2 2025.
Strategic Focus on Vaca Muerta: Vista is doubling down on Vaca Muerta, increasing exposure to low breakeven assets and enhancing cash flow and long-term value for shareholders.
2025 Market Guidance: Vista is removing its 2025 market guidance and will present updated guidance in the Q2 earnings call.
Production Capacity: Post-acquisition, Vista's pro forma production capacity is expected to reach 125,000 BOE per day, with significant synergies anticipated from the integration of acquired assets.
Adjusted EBITDA Improvement: The acquisition is projected to improve adjusted EBITDA by 61% on a pro forma basis for 2024, enhancing cash flow and margins.
Share Repurchase Program: None
The earnings call highlights strong production growth, improved EBITDA margins, and increased well tie-ins, indicating operational efficiency and financial health. The Q&A reveals positive sentiment with production exceeding guidance and strategic flexibility in well tie-ins. Although CapEx slightly exceeds guidance, it supports growth. The market strategy and shareholder returns are well-received, with no major risks identified. Given the market cap, a positive stock price movement of 2% to 8% is likely over the next two weeks.
The earnings call presents mixed signals. The acquisition of Petronas Argentina and production growth are positive, but the removal of 2025 market guidance and a decline in realized oil prices are concerning. The Q&A reveals a cautious approach to future operations, potential free cash flow issues, and a lack of detailed guidance, which may worry investors. The market cap suggests moderate volatility, leading to a neutral stock price prediction.
The earnings call reflects strong financial performance with significant production growth and improved EBITDA margins. The acquisition of Petronas Argentina is expected to enhance EBITDA and margins further. While there are concerns about debt management, the overall sentiment from the Q&A suggests confidence in synergies and production growth. The removal of 2025 guidance due to the acquisition could be a potential concern, but the strong operational metrics and strategic moves outweigh this, indicating a positive outlook for the stock price over the next two weeks.
The company reported strong financial performance with a 52% increase in total revenues and a robust 83% share price increase over the year. Despite some concerns about production delays in Q1 2025, the overall guidance remains optimistic with significant production ramp-up plans for later in the year. Additionally, the company maintains a solid financial position with a low net leverage ratio and plans for continued growth in Vaca Muerta. These factors, along with a sizable share repurchase program, suggest a positive outlook for stock price movement.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
