Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Vista Oil & Gas — Q1 2020 Earnings Presentation
13 slides from Vista Energy Sab De Cv Class A's earnings presentation, Apr 29, 2020
Slide 1: First quarter 2020 Earnings webcast
First quarter 2020 Earnings webcast April 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: Firm response to Covid-19
Firm response to Covid-19 Safeguarding our people and ensuring business continuity with focus on balance sheet strength Our Business Balance Vista is People Continuity Sheet prepared • 75% of employees • Maintained essential • Stopped all drilling ✓ Short capex cycle with working from home oilfield
Slide 4: 1st quarter 2020 key metrics
1st quarter 2020 key metrics Consolidated figures of Vista Oil & Gas S.A.B. de C.V. Production(1) 26.5 Mboe/d Single shale well Revenues 73 $MM reached Lifting cost 9.9 $/boe 2,600 y-o-y boe/d(5) Adj. EBITDA(2) 25 $MM Cash at end of period 205 $MM Positively tested 40 meters Net debt(3) 276 $MM frac
Slide 5: Production
Production Y-o-y growth driven by shale oil ramp-up Total production(1) Oil production Natural gas production Mboe/d Mbbl/d MMm3/d +3% +13% (11)% 30.0 18.7 17.0 1.69 26.5 1.59 0.13 25.7 7.0 15.1 6.2 0.01 1.41 0.7 5.9 0.6 5.0 0.14 25.0 1.57 1.55 23.0 14.5 1.27 20.6 12.6 12.0 Q1 2019 Q4 2019 Q1 2020 Q
Slide 6: Revenues and pricing
Revenues and pricing Production growth offset by lower realized prices Revenues Crude oil average price Natural gas average price $MM $/bbl $/MMBtu (22)% (24)% (41)% 93.7 96.4 56.7 3.7 48.1 73.3 43.0 2.2 2.2 Q1 2019 Q4 2019 Q1 2020 Q1 2019 Q4 2019 Q1 2020 Q1 2019 Q4 2019 Q1 2020 ▪ Average sales pric
Slide 7: Opex
Opex Stable q-o-q opex per boe despite lower production Total Opex Opex per boe $MM $/boe (18)% (14)% 12.0 27.8 9.9 25.7 9.3 23.8 Q1 2019 Q4 2019 Q1 2020 Q1 2019 Q4 2019 Q1 2020 ▪ Optimized field operations and absorbed fixed cost base with incremental shale production ramp-up ▪ Implemented cost-cut
Slide 8: Adjusted EBITDA
Adjusted EBITDA Cost reductions helped maintain margins vis-à-vis Q4 2019 Adj. EBITDA(1) Adj. EBITDA Margin $MM % (32)% (6)p.p. 37.1 35.7 40% 37% 34% 25.3 Q1 2019 Q4 2019 Q1 2020 Q1 2019 Q4 2019 Q1 2020 (1) Adj. EBITDA = Net (loss) / profit for the period + Income tax (expense) / benefit + Financial
Slide 9: Financial overview
Financial overview Solid cash position Q1 2020 cash flow $MM (1) (1) Quarterly leverage ratios as of March 31, 2020(2) Financial debt 481.4 $MM ✓ Cash preservation strategy adopted (-) Cash and cash equivalents (205.3) $MM ✓ Drilling and completion activity currently on stand-by ✓ Investing activiti
Slide 10: Vaca Muerta development
Vaca Muerta development Third pad shows further improvement in production performance, lowering development cost Individual well performance against type curve Tested higher density fracs Mboe/d Cumulative boe/stage(1) 2.8 800 Second pad 2063 2063 2.4 700 First pad On average, production from 600 20
Slide 11: Re-thinking 2020
Re-thinking 2020 Adjusting our plan in response to current landscape In light of the current situation, we are withdrawing our 2020 guidance Cash Value Key tactical preservation protection decisions ▪ Capex reductions of ▪ Capex and cost savings ▪ With lower demand 50% to 65% will make our operation
Slide 12: Closing remarks
Closing remarks Implemented a health protocol and business continuity plan in response to Covid-19 outbreak, prioritizing employee wellbeing Low operating cost and solid financial position allow us to cope with low demand environment and restart capex activity when the right conditions are in place
Slide 13: Thanks! Q&A
Thanks! Q&A