“It is an acquisition that allows us to expand our leadership in Vaca Muerta and redouble our commitment to its development, by including assets with high potential in which we will generate operating synergies,” he claimed Miguel Galuccio, President and CEO of Vista, adding: “As block operators, we have the chance to replicate our operating business model, focused on efficiency, safety and, mainly, sustainability.”
The transaction price was agreed at US$140 million, including the cancellation of the carry assumed in September.
Vista acquired 25,231 net acres, increasing its total acreage in Vaca Muerta to 183,084 acres. What’s more, added up to 150 new wells to its portfolio in the formation, which today amounts to 850 new identified wells.
Vista today is the third oil producer and the second operator of shale oil in Argentina. In its 2022-2026 Strategic Plan, announced at the end of last year, it projects a growth in activity in the developments it is carrying out in Vaca Muerta.
The company plans to invest 2,300 million dollars in the next five years with the objective of doubling its production to more than 80,000 barrels of oil equivalent in 2026, the year in which it also expects to reach an adjusted EBITDA of approximately 1,100 million dollars.