Vista Energy (VIST) announced that its subsidiary Vista Energy Argentina S.A.U has acquired 100% of the capital stock of Petronas E&P Argentina S.A., which holds a 50% working interest in La Amarga Chica unconventional concession, located in Vaca Muerta, Argentina, from Petronas Carigali Canada B.V. and Petronas Carigali International E&P B.V. The purchase price is comprised of $900M in cash, $300M in deferred cash payments and 7,297,507 American Depositary Shares representing Vista’s series A shares paid to the sellers and subject to lock-up restrictions that will expire with respect to 50% of the ADSs on October 15, 2025, and with respect to the remaining 50% of the ADSs on April 15, 2026. The deferred cash payments will be paid 50% on April 15, 2029, and 50% on April 15, 2030, without accruing interest. LACh spans across 46,594 acres in the black oil window of Vaca Muerta. As of December 31, 2024, it had 247 wells on production. In addition, as of December 31, 2023, LACh had 280 million barrels of oil equivalent of P1 reserves according to the Argentine Secretary of Energy at 100% working interest. During the fourth quarter of 2024, LACh produced 79,543 barrels of oil equivalent per day at 100% working interest, of which 71,471 barrels per day were oil, according to the Argentine Secretary of Energy. Vista estimates LACh could potentially hold 400 new well locations to be drilled in its inventory at 100% working interest. The remaining 50% of LACh is held by YPF S.A. (YPF), which is the operator of the concession. Miguel Galuccio, Vista’s Chairman and CEO, commented, “With this acquisition we gain significant scale in Vaca Muerta with a premium block that has growing production and low operating costs, enabling the acceleration of our long-term plan and strengthening our free-cashflow profile. The acquisition both increases our profitability and enhances our portfolio of ready-to-drill locations in the core area of Vaca Muerta. Importantly, in the current global macro and oil price environment we are consolidating a high-margin, low-breakeven asset, with strong synergies with our ongoing operation, reflecting our constructive long-term view on crude oil demand and supply dynamics. I firmly believe this represents a unique opportunity to create long-term value for our shareholders.”

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