Vista Energy, S.A.B. de C.V 6-K, filed Apr 27, 2021

Vista Energy, S.A.B. de C.V. (VIST)

6-K 2021-04-27 For: 2021-04-27

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Added on April 10, 2026

About this 6-K

Vista Energy, S.A.B. de C.V filed this 6-K on April 27, 2021.

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VISTA OIL & GAS, S.A.B. DE C.V.

By:
		/s/ Alejandro Cherñacov
Name:		Alejandro Cherñacov
Title:		Strategic Planning and Investor Relations Officer


	Q1-21		Q4-20		Q1-20		p y/y			p q/q
Total (boe/d)		34,067		30,648		26,485		29	%		11	%
Oil (bbl/d)		26,436		23,056		16,991		56	%		15	%
Natural Gas (MMm³/d)		1.14		1.12		1.41		(19	)%		2	%
NGL (bbl/d)		435		518		645		(33	)%		(16	)%


	Interest			Oil (bbl/d)		Natural Gas (MMm3/d)		NGL (bbl/d)		Total (boe/d)		% Total daily average
Net production per concession				26,436		1.14		435		34,067		100%
Entre Lomas		100	%		3,315		0.19		366		4,846		14	%
Bajada del Palo Este		100	%		385		0.07		57		885		3	%
Bajada del Palo Oeste (conventional)		100	%		672		0.30		—		2,546		7	%
Bajada del Palo Oeste (shale)		100	%		16,613		0.35		—		18,794		55	%
Agua Amarga		100	%		249		0.04		12		486		1	%
25 de Mayo-Medanito		100	%		2,432		0.03		—		2,591		8	%
Jagüel de los Machos		100	%		2,318		0.13		—		3,144		9	%
Coirón Amargo Norte		84.6	%		261		0.00		—		265		1	%
Águila Mora (shale)		90	%		—		0.00		—		—		0	%
Acambuco (non-operated)		1.5	%		22		0.02		—		163		0	%
Coirón Amargo Sur Oeste (shale / non-operated)		10	%		67		0.00		—		72		0	%
Concessions CS-01, A-10 and TM-01 (Mexico)		50	%		103		0.03		—		274		1	%


Revenues per product—in $MM	Q1-21		Q4-20		Q1-20		p y/y			p q/q
Total		115.9		79.5		73.3		58	%		46	%
Oil		107.2		72.5		62.0		73	%		48	%
Natural Gas		7.9		6.2		10.1		(22	)%		27	%
NGL		0.8		0.9		1.2		(33	)%		(5	)%


Product	Q1-21		Q4-20		Q1-20		p y/y			pq/q
Oil ($/bbl)		45.5		40.1		43.0		6	%		13	%
Natural Gas ($/MMBTU)		2.0		1.6		2.2		(9	)%		25	%
NGL ($/tn)		244		212		245		(0	)%		15	%


Adjusted EBITDA reconciliation ($MM)	Q1-21			Q4-20			Q1-20			p y/y			p q/q
Net (loss) / profit for the period		4.9			(13.8	)		(21.3	)

(+) Income tax (expense) / benefit		3.8			(17.4	)		4.6
(+) Financial results, net		4.6			13.4			7.3

Operating profit		13.2			(17.8	)		(9.4	)

(+) Depreciation, depletion and amortization		44.7			44.9			33.5
(+) Restructuring and Reorganization expenses⁽¹⁾		0.4			(0.6	)		1.2
(+) Impairment of long-lived assets		—			9.5			—

Adjusted EBITDA⁽²⁾		58.3			35.9			25.3			131	%		62	%

Adjusted EBITDA Margin (%)⁽³⁾		50	%		45	%		34	%		+16p.p.			+5p.p.


	Q1 2021		Q4 2020		Q3 2020		Q2 2020		Q1 2020
Total production by field (boe/d)	34,067		30,648		25,394		23,817		26,485
Entre Lomas		4,846		5,224		5,629		6,289		6,804
Bajada del Palo Este		885		896		830		1,036		1,122
Bajada del Palo Oeste (conventional)		2,546		3,135		3,327		3,679		4,661
Bajada del Palo Oeste (shale)		18,794		14,488		8,320		5,065		5,599
Agua Amarga (Jarilla Quemada, Charco del Palenque)		486		488		373		476		596
25 de Mayo-Medanito		2,591		2,460		2,663		2,881		2,879
Jagüel de los Machos		3,144		3,123		3,313		3,525		3,705
Coirón Amargo Norte		265		282		366		268		260
Águila Mora (shale)		0		0		0		0		197
Acambuco		163		174		173		178		180
Coirón Amargo Sur Oeste (shale)		72		76		88		102		113
CS-01		100		127		140		163		166
A-10		168		174		173		152		173
TM-01		6		0		0		4		29

Crude oil production by field (boe/d)⁽¹⁾		26,436		23,056		17,534		15,672		16,991

Entre Lomas		3,315		3,434		3,415		3,716		4,043
Bajada del Palo Este		385		369		353		463		553
Bajada del Palo Oeste (conventional)		672		866		819		916		1,051
Bajada del Palo Oeste (shale)		16,613		13,022		7,251		4,508		4,900
Agua Amarga (Jarilla Quemada, Charco del Palenque)		249		230		119		182		242
25 de Mayo-Medanito		2,432		2,308		2,507		2,741		2,701
Jagüel de los Machos		2,318		2,344		2,505		2,645		2,775
Coirón Amargo Norte		261		266		326		222		218
Águila Mora (shale)		0		0		0		0		197
Acambuco		22		23		23		25		24
Coirón Amargo Sur Oeste (shale)		67		70		80		92		96
CS-01		98		124		137		159		162
A-10		0		0		0		0		0
TM-01		6		0		0		4		29

Natural Gas production by field (boe/d)⁽²⁾		7,196		6,899		7,273		7,539		8,848

Entre Lomas		1,166		1,345		1,685		2,018		2,180
Bajada del Palo Este		442		468		430		533		522
Bajada del Palo Oeste (conventional)		1,874		2,269		2,508		2,763		3,610
Bajada del Palo Oeste (shale)		2,181		1,466		1,069		557		699
Agua Amarga (Jarilla Quemada, Charco del Palenque)		225		245		244		284		337
25 de Mayo-Medanito		159		151		156		140		178
Jagüel de los Machos		826		779		807		879		930
Coirón Amargo Norte		4		16		40		46		42
Águila Mora (shale)		0		0		0		0		0
Acambuco		141		151		150		154		156
Coirón Amargo Sur Oeste (shale)		6		6		7		10		17
CS-01		2		3		3		4		4


A-10	168	174	173	152	173
TM-01	0	0	0	0	0

NGL production by field (boe/d)	435	518	587	606	645

Entre Lomas	366	445	529	555	582
Bajada del Palo Este	57	60	48	41	47
Bajada del Palo Oeste (conventional)	0	0	0	0	0
Bajada del Palo Oeste (shale)	0	0	0	0	0
Agua Amarga (Jarilla Quemada, Charco del Palenque)	12	13	10	10	17


Well name	Pad number	Landing zone	Lateral length (mts)	Total frac stages
2013	#1	Organic	2,483	33
2014	#1	La Cocina	2,633	35
2015	#1	Organic	2,558	34
2016	#1	La Cocina	2,483	34
2029	#2	Organic	2,189	37
2030	#2	La Cocina	2,248	38
2032	#2	Organic	2,047	35
2033	#2	La Cocina	1,984	33
2061	#3	La Cocina	2,723	46
2062	#3	Organic	2,624	44
2063	#3	La Cocina	3,025	51
2064	#3	Organic	1,427	36
2025	#4	Lower Carbonate	2,186	26
2026	#4	La Cocina	2,177	44
2027	#4	Lower Carbonate	2,551	31
2028	#4	La Cocina	2,554	51
2501	#5	La Cocina	2,538	52
2502	#5	Organic	2,436	50
2503	#5	La Cocina	2,468	50
2504	#5	Organic	2,332	44
2391	#6	La Cocina	2,715	56
2392	#6	Organic	2,804	54
2393	#6	La Cocina	2,732	56
2394	#6	Organic	2,739	57
2261	#7	La Cocina	2,710	46
2262	#7	Organic	2,581	45
2263	#7	La Cocina	2,609	45
2264	#7	Organic	2,604	46


Key Results - in $M	Q1-21			Q4-20			Q3-20			Q2-20			Q1-20
Total Revenues		115,901			79,536			69,863			51,219			73,320
Oil		107,202			72,461			60,438			41,712			61,985
Natural Gas		7,884			6,213			8,609			8,640			10,113
NGL and others		815			862			816			867			1,222

Cost of Sales		(85,856	)		(73,952	)		(70,934	)		(58,623	)		(67,996	)

Operating expenses		(23,140	)		(22,589	)		(23,032	)		(18,564	)		(23,833	)
Stock fluctuation		(3,100	)		5,529			598			(3,481	)		449
Depreciation, depletion and amortization		(44,730	)		(44,883	)		(38,876	)		(30,447	)		(33,467	)
Royalties		(14,886	)		(12,009	)		(9,624	)		(6,131	)		(11,145	)

Gross profit		30,045			5,584			(1,071	)		(7,404	)		5,324

Selling expenses		(7,412	)		(6,137	)		(5,434	)		(6,300	)		(6,152	)
General and administrative expenses		(8,851	)		(7,259	)		(9,063	)		(8,229	)		(9,367	)
Exploration expenses		(159	)		(106	)		(241	)		(168	)		(131	)
Other operating income		649			342			1,380			1,698			2,153
Other operating expenses		(1,049	)		(761	)		(1,690	)		(1,285	)		(1,253	)
Impairment of long-lived assets		—			(9,484	)		(4,954	)		—			—

Operating profit (loss)		13,223			(17,821	)		(21,073	)		(21,688	)		(9,426	)


Adjusted EBITDA Reconciliation ($M)	Q1-21			Q4-20			Q3-20			Q2-20			Q1-20
Net (loss) / profit for the period		4,858			(13,812	)		(28,402	)		(39,203	)		(21,332	)

(+) Income tax (expense) / benefit		3,758			(17,435	)		(5,552	)		8,304			4,571
(+) Financial results, net		4,607			13,426			12,881			9,211			7,335

Operating profit (loss)		13,223			(17,821	)		(21,073	)		(21,688	)		(9,426	)

(+) Depreciation, depletion and amortization		44,730			44,883			38,876			30,447			33,467
(+) Restructuring and Reorganization expenses		387			(636	)		1,465			1,430			1,244
(+) Impairment of long-lived assets		—			9,484			4,954			—			—

Adjusted EBITDA		58,340			35,910			24,222			10,189			25,285

Adjusted EBITDA Margin (%)		50	%		45	%		35	%		20	%		34	%


	As of March 31, 2021		As of December 31, 2020
Property, plant and equipment		1,035,486		1,002,258
Goodwill		28,484		28,484
Other intangible assets		20,406		21,081
Right-of-use assets		21,037		22,578
Trade and other receivables		33,087		29,810
Deferred income tax		80		565
Total non-current assets		1,138,580		1,104,776
Inventories		10,491		13,870
Trade and other receivables		74,501		51,019
Cash, bank balances and other short-term investments		163,387		202,947
Total current assets		248,379		267,836

Total assets		1,386,959		1,372,612

Deferred income tax liabilities		137,067		135,567
Leases liabilities		15,994		17,498
Provisions		22,780		23,909
Income tax payable		1,750		—
Borrowings		352,656		349,559
Warrants		431		362
Employee defined benefit plans obligation		3,389		3,461
Accounts payable and accrued liabilities		—		—
Total non-current liabilities		534,067		530,356
Provisions		2,022		2,084
Leases liabilities		6,524		6,183
Borrowings		197,185		190,227
Salaries and social security payable		6,537		11,508
Income tax payable		—		—
Other taxes and royalties payable		7,243		5,117
Accounts payable and accrued liabilities		117,911		118,619
Total current liabilities		337,422		333,738

Total liabilities		871,489		864,094

Total equity		515,470		508,518

Total liabilities and equity		1,386,959		1,372,612


	For the period from January 1st to March 31, 2021			For the period from January 1st to March 31, 2020
Revenue from contract with customers		115,901			73,320
Revenues from crude oil sales		107,202			61,985
Revenues from natural gas sales		7,884			10,113
Revenues from NGL		815			1,222
Cost of sales		(85,856	)		(67,996	)
Operating expenses		(23,140	)		(23,833	)
Crude oil stock fluctuation		(3,100	)		449
Depreciation, depletion and amortization		(44,730	)		(33,467	)
Royalties		(14,886	)		(11,145	)

Gross profit		30,045			5,324

Selling expenses		(7,412	)		(6,152	)
General and administrative expenses		(8,851	)		(9,367	)
Exploration expenses		(159	)		(131	)
Other operating income		649			2,153
Other operating expenses		(1,049	)		(1,253	)
Impairment of long -lived assets		—			—

Operating profit (loss)		13,223			(9,426	)

Investments in associates		—			—
Interest income		4			624
Interest expense		(17,398	)		(11,151	)
Other financial results		12,787			3,192

Financial results, net		(4,607	)		(7,335	)

Profit/ (Loss) before income taxes		8,616			(16,761	)

Current income tax (expense)		(1,748	)		—
Deferred income tax (expense)		(2,010	)		(4,571	)

Income tax expense		(3,758	)		(4,571	)

Net profit/(loss) for the year/ period		4,858			(21,332	)

Other comprehensive loss		(73	)		—

Total comprehensive profit/(loss) for the period		4,785			(21,332	)


	For the period from January 1st to March 31, 2021			For the period from January 1st to March 31, 2020
Net profit / (loss) for the period		4,858			(21,332	)
Adjustments to reconcile net cash flows provided by (used in) operating activities:
Non-cash items related with operating activities:
(Reversal in)/Allowances for expected credit losses		—			22
Foreign currency exchange difference, net		(7,404	)		611
Unwinding of discount on asset retirement obligation		561			579
Increase of provisions, net		662			7
Interest expense leases		300			442
Effect of discount of assets and liabilities at present value		(3,105	)		(194	)
Share-based payment expense		3,014			2,566
Burgain purchase on business combination		—			—
Employee defined benefits obligation		43			53
Income tax		3,758			4,571
Non-cash items related with investing activities:
Depreciation and depletion		43,944			32,890
Amortization of intangible assets		786			577
Impairment of long -lived assets		—			—
Interest income		(4	)		(624	)
Change in the fair value of financial assets		(7,074	)		2,165
Investments in associate		—			—
Non-cash items related with financing activities:
Interest expense		17,398			11,151
Changes in the fair value of Warrants		69			(10,769	)
Amortized costs		2,218			593
Impairment of financial assets		—			4,839
Changes in working capital:
Trade and other receivables		(30,343	)		8,329
Inventories		3,105			(1,084	)
Accounts payable and other payables		7,736			(2,187	)
Employee defined benefits obligations		(212	)		(197	)
Salaries and social security payable		(5,722	)		(9,377	)
Other taxes and royalties payable		3,273			(1,692	)
Provisions		(114	)		(235	)


Income taxes paid	(1,146	)	(707	)

Net cash flows generated by operating activities	36,601		20,997

Cash flows from investing activities:
Payments for acquisition of property, plant and equipment	(79,856	)	(51,714	)
Payments for acquisition of other intangible assets	(111	)	(985	)
Proceeds from other financial assets	—		—
Proceeds from interest received	4		624

Net cash flows (used in) investing activities	(79,963	)	(52,075	)

Cash flows from financing activities
Proceeds from capitalization of Serie A shares net of issue costs	—		—
Proceeds from borrowings	121,444		80,000
Payments of borrowing´s cost	(1,964	)	(580	)
Payments of borrowing´s principal	(98,937	)	(42,635	)
Payments of borrowing´s interests	(19,558	)	(16,936	)
Payments of leases	(1,852	)	(3,565	)
Payments of other financial liabilities, net of restricted cash and cash equivalents	—		(16,993	)

Net cash flows generated by financing activities	(867	)	(709	)


	Q1-21		Q4-20		Q1-20		p y/y			p q/q
Lifting Cost ($MM)		23.1		22.6		23.8		(3	)%		2	%
Lifting cost ($/boe)		7.5		8.0		9.9		(24	)%		(6	)%


	For the period from January 1st to March 31, 2021			For the period from January 1st to March 31, 2020
Net (decrease) in cash and cash equivalents		(44,229	)		(31,787	)

Cash and cash equivalents at the beginning of the period		201,314			234,230
Effects of exchange rate changes on cash and cash equivalents		6,152			(321	)
Net (decrease) in cash and cash equivalents		(44,229	)		(31,787	)

Cash and cash equivalents at the end of the period		163,237			202,122