Vista Energy SAB de CV

Latest Results (26.12.2024):

Production Growth

Vista Energy SAB de CV reported a significant increase in production for Q3 2024, with total average net daily production reaching 72,825 boe/d. This marks a 47% increase compared to Q3 2023 and a 12% rise from the previous quarter. The growth was primarily driven by the ramp-up in well activity, with 51 new wells tied-in over the last twelve months. Oil production alone saw a 53% year-over-year increase, reaching 63,499 bbl/d.

Revenue Surge

In Q3 2024, Vista Energy SAB de CV achieved total revenues of $462.4 million, representing a 53% increase compared to the same period in 2023. Net revenues were reported at $443.6 million, with oil and gas exports contributing $240.8 million, or 54% of total net revenues. The strong revenue growth was largely attributed to a 55% increase in crude oil net revenues, driven by robust oil production.

Adjusted EBITDA

Vista Energy SAB de CV's adjusted EBITDA for Q3 2024 was $310.2 million, reflecting a 37% year-over-year increase. This growth was primarily due to strong revenue performance amid stable oil prices and efficient cost management. The adjusted EBITDA margin for the quarter was 65%, although it was 10 percentage points lower than Q3 2023. Sequentially, adjusted EBITDA increased by 8% from the previous quarter.

Net Income Decline

Despite the revenue growth, Vista Energy SAB de CV reported an adjusted net income of $52.7 million for Q3 2024, marking a 57% decrease compared to Q3 2023. The decline was mainly due to higher current income tax expenses and increased depreciation, depletion, and amortization costs, which were partially offset by higher adjusted EBITDA. Adjusted earnings per share were $0.6, down from $1.3 in the same quarter of the previous year.

Capital Expenditure and Cash Flow

During Q3 2024, Vista Energy SAB de CV's capital expenditure totaled $368.5 million, with significant investments in drilling, completion, and workovers of Vaca Muerta wells. The company reported a negative free cash flow of $74.4 million, impacted by advanced payments for midstream expansions and an increase in working capital. Cash from operating activities was $254.9 million, while cash flow used in investing activities amounted to $329.3 million for the quarter.