Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Vista Oil & Gas, S.A.B. de C.V. — FY2020 Earnings Presentation
18 slides from Vista Energy Sab De Cv Class A's earnings presentation, Feb 26, 2021
Slide 1: Full Year and Fourth Quarter 2020 Earnings Webcast
Exhibit 1 Full Year and Fourth Quarter 2020 Earnings Webcast February 26, 2020Exhibit 1 Full Year and Fourth Quarter 2020 Earnings Webcast February 26, 2020
Slide 2: About projections and forward-looking statements
2 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.com
Slide 3: 2020 highlights
3 2020 highlights Emerged strengthened from the crisis ▪ Established Covid-19 health protocol to maintain essential oilfield operations under strict HSE policies, with 75% employees working from home Guaranteed business continuity▪ Adopted new protocol to restart drilling, completion and pulling ope
Slide 4: Bajada del Palo Oeste development: continuous improvement in drilling and completion metrics
4 Bajada del Palo Oeste development Continuous improvement in drilling and completion metrics Evolution of D&C metrics Evolution of well design (1) DRILLING SPEED DRILLING COST PER LATERAL FT AVERAGE LATERAL LENGTH ft/day $/ft Avg mts/well +108% (37)% 993 864 2,748 796 796 2,550 753 2,450 741 2,444
Slide 5: Bajada del Palo Oeste development: increased productivity proves new well design
5 Bajada del Palo Oeste development Increased productivity proves new well design (1) Vaca Muerta wells productivity Bajada del Palo Oeste production Mboe Mboe/d 20 Oil Natural Gas 350 15 Vista wells (2) Vista average well 300 10 1 (3) Vista type curve 2 5 250 0 Mar-19 May-19 Aug-19 Oct-19 Jan-20 Ap
Slide 6: Top productivity compared to both Permian and Vaca Muerta wells
6 Bajada del Palo Oeste development Top productivity compared to both Permian and Vaca Muerta wells (1) Permian wells - cumulative 90-day oil production, vintage 2017, 2018, 2019 and 2020 Mbbl/well - normalized to 2,800 meters lateral length Vista wells– 2019 vintage Vista wells– 2020 vintage Other
Slide 7: Proved Reserves as of December 31, 2020
7 Proved Reserves as of December 31, 2020 Increase driven by Vaca Muerta Development (1) Proved reserves evolution Key drivers MMboe ▪ Added 30 locations after completing 3 additional 4-well shale oil pads in Bajada del (3) Palo Oeste ▪ EUR per well increased by ∼10% based on well productivity ▪ Lif
Slide 8: 2020 Financial overview
8 2020 Financial overview Mantained solid cash position in a low demand and price environment (1) FY 2020 Cash flow Highlights $MM ▪ Positive cash flow from operating activities in 93.8 a low realized price environment ▪ Cash flow from investing activities in Q4-20 was 55.9 $MM, more than 2x compare
Slide 9: 2020 key metrics
9 2020 key metrics 2020 PRODUCTION Mboe/d Results driven by solid recovery during the second half of the year 30 20 2020 2019 y-o-y (%) 10 0 P1 Reserves 128.1 MMboe 101.8 MMboe +26% Q1-20 Q2-20 Q3-20 Q4-20 26.6 Mboe/d 29.1 Mboe/d Total production (9)% 2020 ADJ. EBITDA $MM Oil production 18.3 Mbbl/d
Slide 10: Q4 2020 key metrics and highlights
10 Q4 2020 key metrics and highlights Solid recovery of key operational and financial metrics 30.6 Mboe/d 23.1 Mbbl/d 80 $MM 8.0 $/boe +21% q-o-q +31% q-o-q +14% q-o-q (19)% q-o-q (1) Production Oil Production Revenue Lifting Cost 36 $MM 97 $MM 203 $MM 337 $MM +48% q-o-q +163% q-o-q (2) (4) (3) Adj.
Slide 11: Production
11 Production Back to profitable growth driven by Bajada del Palo Oeste development (1) TOTAL PRODUCTION OIL PRODUCTION NATURAL GAS PRODUCTION Mboe/d Mbbl/d MMm3/d +2% +23% (33)% +21% +31% 23.1 30.6 30.0 1.69 (3)% 25.4 18.7 17.5 1.16 1.12 Q4-19 Q3-20 Q4-20 Q4-19 Q3-20 Q4-20 Q4-19 Q3-20 Q4-20 ▪ Total
Slide 12: Revenues and pricing
12 Revenues and pricing Sequential recovery driven by increase in oil production REVENUES AVERAGE CRUDE OIL PRICE AVERAGE NATURAL GAS PRICE $MM $/bbl $/MMBtu (18)% (17)% (27)% 96.4 48.1 2.2 +14% 2.2 79.5 40.1 39.1 69.9 1.6 Q4-19 Q3-20 Q4-20 Q4-19 Q3-20 Q4-20 Q4-19 Q3-20 Q4-20 ▪ 14% q-o-q increase dr
Slide 13: Lifting Cost
13 Lifting Cost Continued to achieve cost efficiencies (1) LIFTING COST LIFTING COST PER BOE $MM $/boe (12)% (14)% 25.7 9.9 9.3 23.0 22.6 8.0 30.6 30.0 25.4 Q4-19 Q3-20 Q4-20 Q4-19 Q3-20 Q4-20 Lifting cost per boe Total production (Mboe/d) ▪ Y-o-y decrease in lifting cost, with activity back at Q4 2
Slide 14: Adjusted EBITDA
14 Adjusted EBITDA Solid Adj. EBITDA margin y-o-y improvement driven by cost efficiency and well productivity (1) (2) ADJ. EBITDA ADJ. EBITDA MARGIN NETBACK $MM % $/boe +8p.p. +1% (2)% +10p.p. 45% 12.9 +48% 35.7 35.9 +22% 12.7 37% 10.4 35% 24.2 48.1 34.9 40.1 29.9 39.1 28.2 Q4-19 Q3-20 Q4-20 Q4-19 Q
Slide 15: Q4 2020 Financial overview
15 Q4 2020 Financial overview Solid cash position allowed us to ramp up activity (1) Q4 2020 Cash flow Highlights $MM ▪ Strong operation cash flow, which increased 41% q-o-q ▪ CAPEX during Q4-20 totaled 97.5 $MM, and 55.9 $MM were paid during the quarter ▪ Raised 20 $MM in bond issuances in the Arge
Slide 16: 2021 Guidance
16 2021 Guidance 2021 Key drivers Expected y-o-y change Development of La Cocina and 36 shale oil wells 16 wells Shale oil wells Orgánico landing zones producing at year end tied-in Strong y-o-y growth every 37.0 - 38.0 quarter; Exit rate of Production ∼40% 40.0 Mboe/d Mboe/d Continued focus on cost
Slide 17: Closing remarks
17 Closing remarks17 Closing remarks
Slide 18: Thanks! Q&A
THANKS! Q&A 18THANKS! Q&A 18
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