Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Vista Oil & Gas — Q2 2020 Earnings Presentation
13 slides from Vista Energy Sab De Cv Class A's earnings presentation, Jul 29, 2020
Slide 1: Second quarter 2020 Earnings webcast
Second quarter 2020 Earnings webcast July 29, 2020
Slide 2: About projections and forward-looking statements
About projections and forward-looking statements Additional information about Vista Oil & Gas, S.A.B. de C.V., a sociedad anónima bursátil de capital variable organized under the laws of Mexico (the “Company” or “Vista”) can be found in the “Investors” section on the website at www.vistaoilandgas.co
Slide 3: Q2 2020 key metrics and highlights
Q2 2020 key metrics and highlights Consolidated figures of Vista Oil & Gas S.A.B. de C.V. Structural opex and capex cost reductions prepared our organization to thrive in a lower oil price environment • Successfully implemented COVID-19 business continuity plan, ensuring employee health & 23.8 Mboe/
Slide 4: Production
Production Contained drop by re-opening Vaca Muerta wells earlier than expected Total production(1) Monthly breakdown Mboe/d Mboe/d (18)% Oil(2) 32.2 Natural gas 8.6 Q2 production highlights 19.5 19.9 ▪ Shale oil wells in Bajada del Palo Oeste reopened progressively 7.1 6.9 29.0 26.5 between May 26
Slide 5: Revenues and pricing
Revenues and pricing Shifted sales to export markets Revenues Crude oil average price Natural gas average price $MM $/bbl $/MMBtu (57)% (56)% (42)% 120.4 59.8 3.8 43.0 73.3 2.2 2.2 51.2 26.5 Q2 2019 Q1 2020 Q2 2020 Q2 2019 Q1 2020 Q2 2020 Q2 2019 Q1 2020 Q2 2020 ▪ Shifted oil sales to export ▪ Reali
Slide 6: Opex
Opex Cost-cutting initiatives offset lower production Total Opex Opex per boe $MM $/boe (30)% (43)% 12.3 32.5 9.9 23.8 8.6 18.6 Q2 2019 Q1 2020 Q2 2020 Q2 2019 Q1 2020 Q2 2020 ▪ Successful renegotiation of gas compression, production treatment, field maintenance and logistics contracts to adjust to
Slide 7: Adjusted EBITDA
Adjusted EBITDA Focus on cost cutting key to delivering positive Adjusted EBITDA Adj. EBITDA(1) Realized price YTD $MM $/bbl 60 30 0 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Production YTD Mboe/d 30 20 10 51.5 0 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 25.3 Revenues YTD $MM 30 10.2 20 Q2 2019 Q1 2
Slide 8: Financial overview
Financial overview Cash flow positive in a very challenging quarter Q2 2020 cash flow $MM Highlights Quarterly cash flow from operations $MM ▪ Positive cash flow from operations in a low price and production environment ▪ Investing activities reflect payments of Q1 2020 capex activity, prior to stop
Slide 9: Vaca Muerta development
Vaca Muerta development Reopened all shale oil wells in light of crude oil demand recovery Pad 1 & Pad 2 production boe/d ▪ Shale oil wells were shut-in on March 20, 2,000 ahead of global demand reduction, in order to protect conventional assets 1,500 ▪ All wells reopened from May 26 to May 30, 1,00
Slide 10: Vaca Muerta development: type curve for new well design
Vaca Muerta development Vista type curve for new well design Bajada del Palo Oeste updated type curve(1) New well design Mboe ▪ 2,800 meters lateral length 300 Second pad ▪ 60 meter frac spacing, resulting in 47 stages +24% First pad Type curve EUR 250 +9% Mboe New well design +41% 200 1,520 1,079 P
Slide 11: Vaca Muerta development: new well design costs
Vaca Muerta development Vista type curve for new well design Expected D&C cost per well New well design $MM (18)% ▪ 2,800 meters lateral length 17.4 15.9 14.3 ▪ 60 meters frac spacing, resulting in 47 stages 13.8 12.6 11.7 11.7 9.3 Cost savings drivers ▪ Reduction of drilling rates ▪ Tubulars cost r
Slide 12: Closing remarks
Closing remarks Demand and price recovered earlier than expected, allowing Vista to sell entire Q2 production and re-open Vaca Muerta wells Implemented cost efficiency measures, driving lifting cost down to 8.6 $/boe, even at lower production levels Cash flow positive in a very tough quarter Success
Slide 13: THANKS! Q&A
THANKS! Q&A