Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Q4 2021 Earnings Presentation
18 slides from Vista Energy Sab De Cv Class A's earnings presentation, Feb 23, 2022
Slide 1: Fourth Quarter and Full Year 2021 Earnings Webcast
Fourth Quarter and Full Year 2021 Earnings Webcast February 23, 2022
Slide 2: About projections and forward-looking statements
02 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
Slide 3: Continued growth in a positive free cash flow quarter
03 Continued growth in a positive free cash flow quarter Q4 2021 highlights: 41.1 Mboe/d 117 $MM +34% y-o-y +224% y-o-y Production (1) Adj. EBITDA (3) 32.4 Mbbl/d 97 $MM +41% y-o-y 0% y-o-y Oil Production CAPEX (4) 196 $MM 62.8 $MM +146% y-o-y Revenues Free Cash Flow (5) 7.5 $/boe 35.4 $MM (7)% y-o-
Slide 4: Production growth driven by solid Bajada del Palo Oeste performance
04 Production growth driven by solid Bajada del Palo Oeste performance TOTAL PRODUCTION (1) OIL PRODUCTION NATURAL GAS PRODUCTION Mboe/d Mbbl/d MMm3/d +34% +41% +15% +2% (8)% +5% 40.3 41.1 1.40 31.0 32.4 1.29 1.12 30.6 23.1 Q4-20 Q3-21 Q4-21 Q4-20 Q3-21 Q4-21 Q4-20 Q3-21 Q4-21 ▪ Total production inc
Slide 5: Strong y-o-y revenue growth
05 Strong y-o-y revenue growth REVENUES AVERAGE CRUDE OIL PRICE AVERAGE NATURAL GAS PRICE $MM $/bbl $/MMBtu +146% +51% +70% +12% (34)% +6% 196.0 4.1 175.0 60.6 57.0 2.7 40.1 79.5 1.6 Q4-20 Q3-21 Q4-21 Q4-20 Q3-21 Q4-21 Q4-20 Q3-21 Q4-21 ▪ Strong increase y-o-y, driven by ▪ 33% of crude oil sales vol
Slide 6: Continued to achieve cost efficiencies
06 Continued to achieve cost efficiencies LIFTING COST (1) LIFTING COST PER BOE (1) $MM $/boe +24% (7)% 8.0 27.2 27.9 7.5 7.3 22.6 40.3 41.1 30.6 Q4-20 Q3-21 Q4-21 Q4-20 Q3-21 Q4-21 Lifting cost per boe Total production (Mboe/d) ▪ Reduced 7% lifting cost per boe y-o-y in operated blocks, as incremen
Slide 7: ~3x expansion of Adjusted EBITDA
07 ~3x expansion of Adjusted EBITDA ADJ. EBITDA (1) ADJ. EBITDA MARGIN NETBACK (2) $MM % $/boe ~3x ~2.5x +14p.p. +13% 116.5 +11% 102.9 30.8 59% 59% 27.8 45% 60.6 51.9 35.9 57.0 12.7 47.2 40.1 28.2 Q4-20 Q3-21 Q4-21 Q4-20 Q3-21 Q4-21 Q4-20 Q3-21 Q4-21 Adj. EBITDA margin Realized crude oil price ($/bb
Slide 8: Positive free cash flow quarter
08 Positive free cash flow quarter 8 Q4 2021 CASH FLOW EVOLUTION (1) FREE CASH FLOW (3) $MM $MM 62.8 51.0 (28.8) Beginning of period Operating activities Investing activities Financing activities End of period Q4-20 Q3-21 Q4-21 cash position cash flow cash flow cash flow (2) cash position ▪ Positive
Slide 9: Delivered strong total shareholder return in 2021
09 Delivered strong total shareholder return in 2021 Full year highlights: Increased P1 ▪ Increased P1 reserves to 181.6 MMboe, resulting in an implied RRR of 477% reserves and ▪ Acquired 50.4k core acres in Vaca Muerta at favorable terms, adding ~300 locations to our new well inventory well invento
Slide 10: Expanded proved reserves by 42%
10 Expanded proved reserves by 42% Solid Vaca Muerta execution driving growth Proved reserves as of December 31, 2021 (1) Key drivers MMboe ▪ Added 52 new well locations, driven by (3) incremental activity in Bajada del Palo Oeste, resulting in a total of 134 booked locations ▪ 16% reduction in lift
Slide 11: Delivered solid operating performance
11 Delivered solid operating performance Bajada del Palo Oeste shale production exit rate of 28.1 Mboe/d (1) TOTAL SHALE PRODUCTION (2) Mboe/d ▪ Tied-in 20 new wells in 2021, doubling shale oil wells on production, ~5x from 20 to 40 wells ~3x 23.2 ▪ Oil production increased 66% y-o-y to 30.4 Mbbl/d
Slide 12: Strengthened balance sheet
12 Strengthened balance sheet FY 2021 CASH FLOW (1) FREE CASH FLOW (3) $MM $MM 105.9 (62.3) 2020 2021 Beginning of period cash position Operating activities cash flow Investing activities cash flow Financing activities cash flow (2) End of period cash position NET LEVERAGE RATIO x Adj. EBITDA ▪ Stro
Slide 13: Reinforced commitment to sustainability
13 Reinforced commitment to sustainability Environmental Social Governance ▪ Finished baseline study with GHG ▪ Recorded TRIR of 0.29, well ▪ Published inaugural 2020 actuals for 2019 and 2020 above Tier-1 international Sustainability report, aligned O&G standards with GRI and SASB reporting ▪ Ongoi
Slide 14: Acquisition of Aguada Federal and Bandurria Norte
14 Acquisition of Aguada Federal and Bandurria Norte Vista becomes operator and sole concession holder 30 25 20 35 40 DEAL BASICS Bandurria Aguada Federal Norte ▪ Acquired 25,231 net acres, increasing our total acreage in Vaca Muerta Bajada del to 183,084 acres Bajada del Palo Oeste Palo Este ▪ Vist
Slide 15: Delivered strong financial performance
15 Delivered strong financial performance REALIZED OIL PRICE REVENUES LIFTING COST (1) $/bbl $MM $/boe +48% +138% (18)% 54.9 652 9.0 37.2 7.4 274 2020 2021 2020 2021 2020 2021 ADJ. EBITDA (2) ROACE (4) ADJ. NET INCOME/LOSS (3) $MM % $MM Delivered on 2021 +22p.p. guidance of 370 $MM 79 17% ~4x 380 96
Slide 16: 2022 Guidance
16 2022 Guidance 24 wells 16 wells in BPO, 2 wells in BPE, 2 wells Shale oil wells tied-in in Águila Mora, 4 wells in Aguada Federal +20% 46.0 – 47.0 Solid y-o-y growth every quarter; Production Mboe/d exit rate ~50 Mboe/d +20% 7.5 Replicate operating model in Aguada Lifting cost (1) $/boe Federal a
Slide 17: Closing remarks
17 Closing remarks
Slide 18: THANKS! Q&A
THANKS! Q&A 18