The company announced that it has increased its forecast of projected investments for 2022 from US$400 million to US$500 million.
Adjusted net income was $82.3 million, compared to $17.5 million reported in the second quarter of 2021. Vista generated positive free cash flow of $62.6 million, which meant an increase of 76% year over year.
Revenues totaled US$294.3 million, 78% above the US$165.3 million generated in the second quarter of 2021, driven by higher oil production and realized prices. In the period, 42% of oil sales volumes (1.5 million barrels) were exported for a total of US$147 million in revenue.
new projections
In addition to the investments, Vista expects to reach a total production of over 47,000 boe/d. It projects an Adjusted EBITDA of US$750 million for the year, well above the US$625 million previously estimated.
The company will put into production 8 shale oil wells in addition to the plan to close 2022 with 32 new unconventional oil wells, versus the 24 announced last quarter. The adjusted EBITDA and the cash flow achieved in the quarter allowed the company to reduce the projections of gross debt from US$575 million to US$525–US$550 million, for the end of the year.
Source: Ambito
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