Presentacion Resultados q3
Presentacion Resultados q3
Presentacion Resultados q3
Earnings Webcast
October 25, 2023
02
Q3 2023 HIGHLIGHTS
Production (1) Oil Production Revenues Lifting Cost (2) Free Cash Flow (3)
49.5 Mboe/d 41.5 Mbbl/d 290 $MM 4.8 $/boe (43) $MM
(2)% y-o-y (1)% y-o-y (13)% y-o-y (35)% y-o-y
6% q-o-q 6% q-o-q 25% q-o-q 0% q-o-q
Adj. EBITDA (4) Adj. Net Income (5) Adj. EPS (6) CAPEX (7) Net Leverage Ratio (8)
(1) Includes natural gas liquids (NGL) and excludes flared gas, injected gas and gas consumed in operations conventional assets + Impairment (recovery) of long-lived assets + other adj.
(2) Lifting cost includes production, transportation, treatment and field support services; excludes crude stock fluctuations, (5) Adjusted net income/loss = Net (loss)/profit + Deferred income tax + Changes in fair value of warrants + Gain related to
depreciation, royalties, direct taxes, commercial, exploration, G&A costs and Other non-cash costs related to the transfer the transfer of conventional assets + Other non-cash costs related to the transfer of conventional assets + impairment
of conventional assets (recovery) of long-lived assets
(3) Free cash flow = Operating activities cash flow + Investing activities cash flow (6) Adj. EPS = Adj. Net Income divided by weighted average number of ordinary shares
(4) Adj. EBITDA = Net (loss) / profit for the period + Income tax (expense) / benefit + Financial results, net + Depreciation, (7) Property, plant and equipment additions
depletion and amortization + Transaction costs related to business combinations + Restructuring and reorganization (8) Net leverage ratio = LTM Adj. EBITDA / Net debt
expenses + Gain related to the transfer of conventional assets + Other non-cash costs related to the transfer of
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(1) Pro forma production reflects production net of assets transferred to Aconcagua on March 1, 2023 (shows production as if the transaction had occurred on March 1, 2022)
(2) Includes oil, gas and LPG production. LPG production in Q3 2023 totaled 304 boe/d, compared to 553 boe/d in Q2 2023 and 462 boe/d in Q3 2022
(3) Includes Entre Lomas, Jarilla Quemada, Charco del Palenque, Jagüel de los Machos and 25 de Mayo-Medanito SE concessions transferred to Aconcagua, effective as of March 1, 2023. Since that date Vista
remains entitled to 40% of crude oil and natural gas production and reserves, and 100% of LPG and condensates production and reserves, of such concessions
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60.0
52.2 49.5
46.6
BPO-16
BPO-17
Cube development pilot. Tied-in in late July ▪ Completed crude oil treatment plant upgrade to
increase capacity to 70 Mbbl/d
BPO-18 Completed in August. Tied-in during September
▪ Initial phase of Oldelval expansion added 7.5
BPO-19 Completed in September.Tied-in during October
Mbbl/d of trunk pipeline capacity to Vista
3-well pad. Drilled during Q3. Currently under completion. Planned to
BPO-20
be tied-in during November ▪ Vaca Muerta Norte on track to be online before
BPO-21 Currently drilling. Planned to be tied-in before year-end year-end
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▪ 56% of LTM revenues from export ▪ Realized oil prices of 61.7 $/bbl (1) ▪ Interannual decline driven by 50%
markets in the domestic market and lower prices to industrial markets
74.9 $/bbl (2) in the export market and sequential decline driven by a
▪ Exported 2.2 MMbbl (24.0 Mbbl/d) lower share of export volumes
of crude oil, representing 55% of
total oil sales volumes and 61% of
total oil revenues
(1) Does not include trucking transportation cost from sales point to refinery. Total realized oil price net of this cost is 58.8 $/bbl
(2) Net of export tax. Export price before export tax was 80.9 $/bbl in Q3-23
07
7.5
34.8
4.8 4.8
21.9
20.3
▪ Consolidated lifting cost per boe below 5 $/boe, driven by new operating model fully focused on shale oil operations
▪ On track to outperform lifting cost 2023 guidance
(1) Lifting cost includes production, transportation, treatment and field support services; excludes crude stock fluctuations, depreciation, royalties, direct taxes, commercial, exploration, G&A costs and Other
non-cash costs related to the transfer of conventional assets
(2) Lifting cost is shown as Operating costs in our Income Statement. Lifting cost per boe = Operating costs / Total production. Lifting cost for Q3-23 (4.8 $/boe) = Operating costs (21.9 $MM) / Total
production (4.5 MMboe)
08
151.8 35.8
76.6
64.3 67.6
▪ Strong sequential increase in Adj. EBITDA on the back of revenue growth and flat lifting cost
▪ Expecting Q4-23 Adj. EBITDA to range between 215-230 $MM, subject to the evolution of domestic crude oil prices
(1) Adj. EBITDA = Net (loss) / profit for the period + Income tax (expense) / benefit + Financial results, net + Depreciation, depletion and amortization + Transaction costs related to business combinations +
Restructuring and reorganization expenses + Gain related to the transfer of conventional assets + Other non-cash costs related to the transfer of conventional assets + Impairment (recovery) of long-lived assets
+ other adj.
(2) Netback = Adj. EBITDA / Total production volumes
09
179 181
163
Beginning of period Operating activities Investing activities Financing activities End of period Q3-22 Q2-23 Q3-23
cash position cash flow cash flow cash flow (2) cash position
Closing remarks