The company founded by Miguel Galuccio reported a 53% increase in oil production. It is one of the leaders in light oil exports.
View, the second producer of shale oil most important in the country, increased 47% the total production of barrels of oil equivalent per day in the third quarter of the year until reaching 72,825. The oil production reached 63,499 bbl/d, which reflects a increase of 53% year-on-year.
The company founded by Miguel Galuccio released the balance sheet this Wednesday which shows growth in activity, due to the connection of 51 new wells in the last twelve months “with very good levels of productivity.” Thanks to these results the company exported 3.5 million barrels of crude oil during the quarter, 57% more than during the same quarter in 2023.
Vista’s total revenues reached $462 million
“The lifting cost was $4.7/boe, which represents a decrease of 2% compared to the third quarter of last year,” the company added, with total revenues of US$462 million in the third quarter of 2024. This is a increase of 53% year-on-year driven mainly by a 53% increase in oil production.
“Adjusted EBITDA reached US$310 million, which represents an increase of 37% year-on-year,” the oil company said in a statement. While investments during the analyzed period were US$368 million, which were mainly focused on drilling, completion and workovers of wells in Vaca Muerta.
Vista shares rose 460% and the company is now worth $5 billion
At the beginning of last month, it was known that the oil company’s shares increased more than 460%, reaching US$52 each at the close of September 2, and Its value became US$5 billion.
Today, more than 50% of Vista’s production is destined for export to Brazil, Chile, the West Coast of the United States, among others. However, it aims to export at least 60% of its production by 2026. Taking into account an average Brent value of $80 per barrel, this could mean a foreign exchange income for Argentina of US$1.5 billion
On the other hand, Vista plans to double its adjusted EBITDA, with a goal of $1.1 billion by 2024 and $1.7 billion by 2026.
Source: Ambito
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