The following is a summary of the Vista Energy, S.A.B. De C.V. (VIST) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Vista Energy reported Q1 2024 total production of 55,000 BOEs per day, a 40% increase year-over-year.

• Revenue for the quarter remained constant at $317 million, with an adjusted EBITDA of $221 million, showing an 8% increase from the previous year.

• The company reported an adjusted net income of $47 million and an EPS of $0.5 per share.

• Capital expenditure was noted at $242 million, primarily due to the drilling and completion of multiple wells.

• Free cash flow was reported negative at $84 million, due to the escalated pace of drilling and completing wells.

• Despite increased spending, the company maintained a solid net leverage ratio of 0.58 times adjusted EBITDA.

Business Progress:

• Vista Energy aims to achieve double-digit production growth in Q2 and maintains its annual production target of 68,000 to 70,000 BOE per day.

• An agreement was signed to secure and import a third high-spec rig, expected to increase Q4 production to above 85,000 BOE per day.

• Additional well capacity has been secured by prepaying $58 million and a budget of $900 million is set out for CapEx, with a possible increase due to increased rigging activity.

• The company plans to focus their primary activity on development hubs, and aims to increase average production to 85,000 barrels per day for Q4.

• Vista is considering M&A activity and is participating in the Exxon tender.

More details: Vista Energy IR

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