Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Q4 2023 Earnings Presentation
17 slides from Vista Energy Sab De Cv Class A's earnings presentation, Feb 21, 2024
Slide 1: Fourth Quarter and Full Year 2023 Earnings Webcast
Fourth Quarter and Full Year 2023 Earnings Webcast February 21, 2024
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.vistaenergy.com.
Slide 3: Consistently delivering strong operational and financial performance
03 Consistently delivering strong operational and financial performance Q4 2023 HIGHLIGHTS Production (1) Oil Production Revenues Lifting Cost (3) Free Cash Flow (4) 56.4 Mboe/d 48.5 Mbbl/d 309 $MM 4.3 $/boe 107 $MM 16% y-o-y pro forma (2) 18% y-o-y pro forma (2) (3)% y-o-y (40)% y-o-y 86% y-o-y 14%
Slide 4: Activity ramp-up drove double-digit sequential production growth
04 Activity ramp-up drove double-digit sequential production growth TOTAL PRODUCTION (1) (2) OIL PRODUCTION (2) NATURAL GAS PRODUCTION (2) Mboe/d Mbbl/d MMm3/d +16% +18% +3% +14% +17% (2)% 54.7 56.4 48.5 1.35 45.7 49.5 41.5 1.22 1.19 48.7 41.0 1.15 Q4-22 Q3-23 Q4-23 Q4-22 Q3-23 Q4-23 Q4-22 Q3-23 Q4-
Slide 5: Solid execution of BPO drilling program
05 Solid execution of BPO drilling program DEVELOPMENT HUB UPDATE 2H-23 PRODUCTION Mboe/d Aguada 30 25 20 Federal 35 60 (AF) 58 40 56 Bajada del 54 Palo Este 19 (BPE) 52 50 20 48 46 Bajada del Palo Oeste 44 (BPO) 42 21 Coirón Amargo Norte 40 (CAN) Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Pads tied-
Slide 6: Stable revenues, as oil production growth offsets lower prices
06 Stable revenues, as oil production growth offsets lower prices REVENUES (1) AVERAGE CRUDE OIL PRICE AVERAGE NATURAL GAS PRICE $MM 2.2 2.2 2.0 $/bbl $/MMBtu (2)% (50)% (3)% 320.3 309.2 68.9 67.6 67.8 4.5 302.8 3.3 2.2 55% 57% 52% Q4-22 Q3-23 Q4-23 Q4-22 Q3-23 Q4-23 Q4-22 Q3-23 Q4-23 Total revenues
Slide 7: Strong cost reduction driven by economies of scale
07 Strong cost reduction driven by economies of scale LIFTING COST (1) LIFTING COST PER BOE (1)(2) $MM $/boe (38)% (40)% 36.1 7.2 (11)% 4.8 21.9 22.3 4.3 54.7 56.4 49.5 Q4-22 Q3-23 Q4-23 Q4-22 Q3-23 Q4-23 Lifting cost per boe Total production (Mboe/d) ▪ Sequential improvement in cost per boe as we c
Slide 8: Strong increase in Adj. EBITDA
08 Strong increase in Adj. EBITDA ADJ. EBITDA (1) ADJ. EBITDA MARGIN (2) NETBACK (3) $MM % $/boe +43% +7pp +39% +27% p.p. p.p. 288.1 55.6 78% 49.8 226.4 73% 201.7 65% 40.1 68.9 67.6 67.8 Q4-22 Q3-23 Q4-23 Q4-22 Q3-23 Q4-23 Q4-22 Q3-23 Q4-23 Adj. EBITDA margin Realized crude oil price ($/bbl) ▪ Impro
Slide 9: Positive free cash flow quarter
09 Positive free cash flow quarter 9 Q4 2023 CASH FLOW EVOLUTION (1) FREE CASH FLOW (3) $MM $MM 107 57 (43) Beginning of period Operating activities Investing activities Financing activities End of period cash position cash flow cash flow cash flow (2) cash position Q4-22 Q3-23 Q4-23 ▪ Operating act
Slide 10: Full year 2023 highlights
10 Full year 2023 highlights Increased P1 reserves Delivered solid operating Progressed in Delivered robust total and well inventory performance sustainability metrics shareholder returns P1 Reserves Production GHGE intensity (2) Adj. EBITDA (3) 319 MMboe 51.1 Mboe/d 15.6 kgCO e/boe 2 871 $MM 27% y-
Slide 11: Increased proved reserves by 27%
11 Increased proved reserves by 27% Proved reserves as of December 31, 2023 (1) Key drivers MMboe ▪ Added 40 new well locations in Bajada del Palo Oeste, 26 in Bajada del Palo Este, 19 in Aguada Federal and 2 in Águila Mora, resulting in a total of 297 booked P1 well locations Proved reserves breakd
Slide 12: Achieved significant operating milestones during 2023
12 Achieved significant operating milestones during 2023 Activity P Tied-in 31 new wells during the year, of P Total production was 51.1 Mboe/d, an 18% P Added 250 new well locations to our drilling inventory which 23 were tied-in y-o-y increase on a o Added 100 new wells in Aguila Mora during 2H-23
Slide 13: Solid progress in our emissions reduction and NBS projects
13 Solid progress in our emissions reduction and NBS projects Decarbonizing our operations NBS projects progress Aike has made solid progress in the development of nature-based GHG EMISSIONS (1) GHG EMISSIONS INTENSITY (1) solutions projects for Vista in Argentina MtCO2e kg CO2e/boe ▪ Mixed Forestry
Slide 14: Delivered superior total shareholder returns
14 Delivered superior total shareholder returns ADJ. EBITDA (1) NET LEVERAGE RATIO SHARE PRICE PERFORMANCE (4) $MM In line with 2023 guidance x Adj. EBITDA Since Dec 31, 2022, to Feb 16, 2024 120% 115% 871 0.78x 765 100% 83% 0.46x 0.40x 80% 380 60% 40% 34% 33% 2021 2022 2023 YE2021 YE2022 YE2023 20%
Slide 15: 2024 Guidance
15 2024 Guidance (1) ACTIVITY CAPEX (2) PRODUCTION # of wells tied-in $MM Mboe/d +48% +23% +35% (5) 900 68-70 46 734 51 31 2023A 2024F 2023A 2024F 2023A 2024F ▪ Activity focused in BPO, BPE, and Aguada ▪ Driven by higher D&C activity and upfront ▪ Forecasting solid y-o-y growth every Federa investme
Slide 16: Closing remarks
16 Closing remarks Delivered on our superior Consolidated fully Completed a year of total shareholder returns focused Vaca Muerta robust operational and proposition, reflected in a company, with lower cost financial performance peer-leading stock and higher margins performance Issued 2024 guidance,
Slide 17: THANKS! Q&A
THANKS! Q&A
Vista Energy S.A.B. de C.V. — Q4 2023 Earnings Presentation on 6ix