Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Q2 2023 Earnings Presentation
15 slides from Vista Energy Sab De Cv Class A's earnings presentation, Jul 14, 2023
Slide 1: Second Quarter 2023 Earnings Webcast
Second Quarter 2023 Earnings Webcast July 14, 2023
Slide 2: About projections and forward-looking statements
02 About projections and forward-looking statements Additional information about Vista Energy, 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: Key metrics of the quarter
03 Key metrics of the quarter Q2 2023 - HIGHLIGHTS Production (1) Oil Production Revenues Lifting Cost (2) CAPEX (3) 46.6 Mboe/d 39.2 Mbbl/d 231 $MM 4.8 $/boe 179 $MM +4% y-o-y +6% y-o-y (22)% y-o-y (38)% y-o-y +18% y-o-y Adj. EBITDA (4) Free Cash Flow (5) Net Leverage Ratio Adj. Net Income (6) Adj.
Slide 4: Double-digit interannual production growth on a pro forma basis
04 Double-digit interannual production growth on a pro forma basis (1) TOTAL PRODUCTION (2) OIL PRODUCTION NATURAL GAS PRODUCTION Mboe/d Mbbl/d MMm3/d +4% +6% (10)% +20% +22% 52.2 +7% 44.8 46.6 44.0 1.19 1.23 36.9 39.2 1.08 50.2 38.9 42.8 1.11 32.1 1.01 Q2-22 Q1-23 Q2-23 Q2-22 Q1-23 Q2-23 Q2-22 Q1-2
Slide 5: Successful pilots extend inventory to up to 1,150 wells
05 Successful pilots extend inventory to up to 1,150 wells ACTIVITY UPDATE UPDATED WELL INVENTORY Block Wells Proved Landing Zones La Cocina Bajada del BPO 550 Organic Palo Este Lower Carbonate AM-1 (BPE) BPE 150 La Cocina BPE-1 25 La Cocina Aguada AF 150 Organic Bandurria Norte Federal Middle Carbo
Slide 6: Continuous solid progress in Bajada del Palo Oeste
06 Continuous solid progress in Bajada del Palo Oeste ACTIVITY UPDATE OIL TREATMENT CAPACITY ▪ Good progress in project to upgrade oil treatment plant 35 capacity to 70,000 bbl/d 5 14 18 ▪ Scheduled to be online by the end of Q3-23 AM Aguada 40 Federal 11 (AF) Bajada del Palo Oeste 1 3 15 10 13 (BPO
Slide 7: Secured evacuation capacity to deliver on 2026 production targets
07 Secured evacuation capacity to deliver on 2026 production targets (1) 7 OIL EVACUATION CAPACITY (1) Mbbl/d 2022 2023 2024 2025 CONTRACTED CAPACITY IN PHASES 1 AND 2 OF OLDELVAL’S LA ESCONDIDA DUPLICAR PROJECT PIPELINE SWITCH FROM OLDELVAL REVERSAL TO TO VM NORTE PIPELINE TO EXPORT TO INCREASE EVA
Slide 8: Revenues reflect inventory build-up and softer prices
08 Revenues reflect inventory build-up and softer prices REVENUES AVERAGE CRUDE OIL PRICE AVERAGE NATURAL GAS PRICE $MM 1.5 2.4 1.6 $/bbl $/MMBtu (18)% (22)% 78.4 294.3 303.2 4.7 66.6 64.3 3.9 3.9 231.0 60% 50% 49% Q2-22 Q1-23 Q2-23 Q2-22 Q1-23 Q2-23 Q1-22 Q1-23 Q2-23 Total Revenues % of export in t
Slide 9: Strong cost reduction driven by focus on shale operations
09 Strong cost reduction driven by focus on shale operations LIFTING COST (1) LIFTING COST PER BOE (1)(2) $MM $/boe (36)% (38)% 31.7 7.8 30.1 6.4 20.3 4.8 52.2 44.8 46.6 Q2-22 Q1-23 Q2-23 Q2-22 Q1-23 Q2-23 Lifting cost per boe Total production (Mboe/d) ▪ Lifting cost reduction captures an entire qua
Slide 10: Solid margins despite softer prices
10 Solid margins despite softer prices ADJ. EBITDA (1) ADJ. EBITDA MARGIN NETBACK (2) $MM % $/boe (25)% (3)p.p. (28)% 204.4 69% 49.5 202.1 67% 66% 43.5 151.8 35.8 78.4 66.6 64.3 Q2-22 Q1-23 Q2-23 Q2-22 Q1-23 Q2-23 Q2-22 Q1-23 Q2-23 Adj. EBITDA margin Realized crude oil price ($/bbl) ▪ Sequential dec
Slide 11: Acceleration in capex sets the stage for future growth
11 Acceleration in capex sets the stage for future growth 11 Q2 2023 CASH FLOW EVOLUTION (1) CAPEX $MM $MM 179 162 151 Beginning of period Operating activities Investing activities Financing activities End of period Q2-22 Q1-23 Q2-23 cash position cash flow cash flow cash flow (2) cash position FREE
Slide 12: Solid financial position leaves us well-poised for acceleration
12 Solid financial position leaves us well-poised for acceleration 12 GROSS LEVERAGE RATIO DEBT COMPOSITION (2) X Adj. EBITDA % of total debt 5.6x 46% 651 68% 73% 78% 611 540 549 1.6x 0.7x 0.8x 54% 32% 27% 22% 2020 2021 2022 Q2-23 2020 2021 2022 Q2-23 Gross leverage ratio (1) Gross debt ($MM) Cross
Slide 13: Closing remarks
13 Closing remarks Robust progress in Bajada del Palo Oeste leaves us on track to meet production and cost guidance for the year Successful pilots in BPE and AM extend drilling inventory, providing significant growth potential Secured midstream and export evacuation capacity to deliver on 2026 produ
Slide 14: Investor Day - Strategic Plan Update
Investor Day - Strategic Plan Update SAVE THE S E P T E M B E R 26 DATE 9 A M E T 2023 Virtual event hosted by Miguel Galuccio, Chairman and CEO, and the Executive Team members
Slide 15: Thanks! Q&A
THANKS! Q&A
Vista Energy S.A.B. de C.V. — Q2 2023 Earnings Presentation on 6ix