Vista oil company profits grew 431.5% in 2022

The Vista oil company, whose operations are focused on the formation of hydrocarbons unconventional Vaca Muerta, in Argentinaregistered a net profit of 269.5 million dollars last year, 431.5% more than in 2021.

According to the results note published this Thursday by the company, Vista’s net earnings rose to $75.5 million in the fourth quarter of 2022, compared to a profit in the same period of 2021 of $35.6 million. .

The company, whose shares are listed on the New York and Mexico stock exchanges, obtained an operating profit of 529.1 million dollars in 2022, compared to earnings in 2021 of 210.5 million dollars, while in the fourth quarter the Operating profit was 138.5 million dollars, compared to a profit of 82 million dollars in the same period of 2021.

Last year, adjusted gross operating result (Ebitda) was $764.5 million, up 101% compared to 2021, “driven by higher total revenues versus lower operating cost” achieved.

Meanwhile, the company’s revenues totaled 1,143.8 million dollars in 2022, with an increase of 75% compared to 2021, which, according to the oil company, was “primarily driven by increased production and higher prices.”

Meanwhile, Vista’s investments last year amounted to 540 million dollars.

The company, chaired by the Argentine Miguel Galuccio, specified that its total production of hydrocarbons during the past year was 48,560 barrels of oil equivalent per day (boe/d), with a year-on-year increase of 25%.

Vista, whose oil production increased 32% year-on-year to 40,078 bbl/d, put twenty new wells on production last year in Bajada del Palo Oeste, an area that already has 60 producing wells.

The company also put another eight wells on production in Bajada del Palo Este and Aguada Federal.

Source: EFE