Vista Energy, S.A.B. de C.V 6-K, filed Apr 25, 2023

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

6-K 2023-04-25 For: 2023-04-25

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Added on July 07, 2026

About this 6-K

Vista Energy, S.A.B. de C.V filed this 6-K on April 25, 2023.

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VISTA ENERGY, S.A.B. DE C.V.

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


• Unaudited interim condensed consolidated statements of profit or loss and other comprehensive income for the three-month periods ended March 31, 2023 and 2022			3

• Unaudited interim condensed consolidated statements of financial position as of March 31, 2023 and December 31, 2022			4

• Unaudited interim condensed consolidated statements of changes in equity for the three-month periods ended March 31, 2023 and 2022			5

• Unaudited interim condensed consolidated statements of cash flows for the three-month periods ended March 31, 2023 and 2022			7

• Notes to the unaudited interim condensed consolidated financial statements as of March 31, 2023 and December 31, 2022 and for the three-month periods ended March 31, 2023 and 2022			9


	Notes		Period from January 1, through March 31, 2023			Period from January 1, through March 31, 2022
Revenue from contracts with customers		4		303,213			207,920
Cost of sales:
Operating costs		5.1		(30,144	)		(30,839	)
Crude oil stock fluctuation		5.2		(4,722	)		2,655
Depreciation, depletion and amortization		12/13/14		(64,372	)		(46,822	)
Royalties				(34,995	)		(29,177	)
Other non-cash costs related to the transfer of conventional assets		1.2.1		(3,233	)		—

Gross profit				165,747			103,737

Selling expenses		6		(16,717	)		(12,566	)
General and administrative expenses		7		(17,011	)		(12,463	)
Exploration expenses		8		(222	)		(205	)
Other operating income		9.1		95,315			2,765
Other operating expenses		9.2		(963	)		(1,260	)

Operating profit				226,149			80,008

Interest income		10.1		287			16
Interest expense		10.2		(6,137	)		(8,232	)
Other financial income (expense)		10.3		(14,315	)		(28,949	)

Financial income (expense), net				(20,165	)		(37,165	)

Profit before income tax				205,984			42,843

Current income tax (expense)		15		(47,568	)		(26,559	)
Deferred income tax (expense)		15		(29,682	)		(750	)

Income tax (expense)				(77,250	)		(27,309	)

Profit for the period, net				128,734			15,534

Other comprehensive income
Other comprehensive income that shall not be reclassified to profit or loss in subsequent periods
- Gain (Loss) from actuarial remediation related to employee benefits		25		109			(129	)
- Deferred income tax (expense) benefit		15		(38	)		45

Other comprehensive income that shall not be reclassified to profit (loss) in subsequent periods, net of taxes				71			(84	)

Total comprehensive profit for the period				128,805			15,450

Earnings per share
Basic (in US Dollars per share)		11		1.431			0.175
Diluted (in US Dollars per share)		11		1.315			0.163


	Notes		As of March 31, 2023			As of December 31, 2022
Assets
Noncurrent assets
Property, plant and equipment		12		1,582,192			1,606,339
Goodwill		13		22,703			28,288
Other intangible assets		13		6,694			6,792
Right-of-use assets		14		61,016			26,228
Investments in associates				6,975			6,443
Trade and other receivables		16		175,769			15,864
Deferred income tax assets				335			335

Total noncurrent assets				1,855,684			1,690,289

Current assets
Inventories		18		8,464			12,899
Trade and other receivables		16		144,594			90,406
Cash, bank balances and other short-term investments		19		350,242			244,385

Total current assets				503,300			347,690

Total assets				2,358,984			2,037,979

Equity and liabilities
Equity
Capital stock		20.1		517,874			517,873
Other equity instruments				32,144			32,144
Legal reserve				2,603			2,603
Share-based payments				35,928			40,744
Share repurchase reserve				49,465			49,465
Other accumulated comprehensive income (losses)				(8,623	)		(8,694	)
Accumulated profit (losses)				338,659			209,925

Total equity				968,050			844,060

Liabilities
Noncurrent liabilities
Deferred income tax liabilities				273,131			243,411
Lease liabilities		14		34,080			20,644
Provisions		21		29,315			31,668
Borrowings		17.1		560,321			477,601
Employee benefits		25		12,220			12,251

Total noncurrent liabilities				909,067			785,575

Current liabilities
Provisions		21		2,579			2,848
Lease liabilities		14		29,099			8,550
Borrowings		17.1		99,246			71,731
Salaries and payroll taxes		22		8,836			25,120
Income tax liability				91,374			58,770
Other taxes and royalties		23		17,602			20,312
Trade and other payables		24		233,131			221,013

Total current liabilities				481,867			408,344

Total liabilities				1,390,934			1,193,919

Total equity and liabilities				2,358,984			2,037,979


	Capital stock		Other equity instruments		Legal reserve		Share-based payments			Share repurchase reserve		Other accumulated comprehensive income (losses)			Accumulated profit (losses)		Total equity
Amounts as of December 31, 2022		517,873		32,144		2,603		40,744			49,465		(8,694	)		209,925		844,060

Profit for the period		—		—		—		—			—					128,734		128,734
Other comprehensive income for the period		—		—		—		—			—		71			—		71

Total comprehensive income		—		—		—		—			—		71			128,734		128,805

Share-based payments		1		—		—		(4,816	)⁽¹⁾		—		—			—		(4,815	)

Amounts as of March 31, 2023		517,874		32,144		2,603		35,928			49,465		(8,623	)		338,659		968,050


	Capital stock		Share-based payments			Other accumulated comprehensive income (losses)			Accumulated profit (losses)			Total equity
Amounts as of December 31, 2021		586,706		31,601			(5,976	)		(47,072	)		565,259

Profit for the period		—		—			—			15,534			15,534
Other comprehensive income for the period		—		—			(84	)		—			(84	)

Total comprehensive income		—		—			(84	)		15,534			15,450

Share-based payments		—		(227	)⁽¹⁾		—			—			(227	)

Amounts as of March 31, 2022		586,706		31,374			(6,060	)		(31,538	)		580,482


	Notes		Period from January 1, through March 31, 2023			Period from January 1, through March 31, 2022
Cash flows from operating activities:
Profit for the period, net				128,734			15,534
Adjustments to reconcile net cash flows
Items related to operating activities:
(Reversal of) allowance for expected credit losses		6		—			(36	)
Net changes in foreign exchange rate		10.3		(6,570	)		(6,696	)
Discount for well plugging and abandonment		10.3		499			652
Net (decrease) increase in provisions		9.2		(567	)		988
Interest expense on lease liabilities		10.3		388			547
Discount of assets and liabilities at present value		10.3		709			681
Share-based payments		7		5,039			2,341
Other non-cash costs related to the transfer of conventional assets		1.2.1		3,233			—
Employee benefits		25		153			104
Income tax expense		15		77,250			27,309
Items related to investing activities:
Depreciation and depletion		12/14		63,434			46,066
Amortization of intangible assets		13		938			756
Interest income		10.1		(287	)		(16	)
Gain from farmout agreement		9.1		(5,656	)		—
Changes in the fair value of financial assets		10.3		3,202			581
Gain related to the transfer of conventional assets		9.1 / 1.2.1		(89,659	)		—
Items related to financing activities:
Interest expense		10.2		6,137			8,232
Changes in the fair value of warrants		10.3		—			22,777
Amortized cost		10.3		364			533
Remeasurement in borrowings		10.3		13,690			8,679
Other financial results		10.3		2,033			—
Changes in working capital:
Trade and other receivables				(12,854	)		(4,818	)
Inventories		5.2		4,722			(2,655	)
Trade and other payables				4,082			2,551
Payments of employee benefits		25		(75	)		(57	)
Salaries and payroll taxes				(25,892	)		(11,031	)
Other taxes and royalties				(12,018	)		3,731
Provisions				(529	)		(741	)
Income tax payment				(1,737	)		(3,147	)

Net cash flows provided by operating activities				158,763			112,865

Cash flows from investing activities:
Payments for acquisitions of property, plant and equipment				(132,948	)		(78,190	)
Payments for the acquisition of AFBN assets ⁽¹⁾				(6,250	)		(90,000	)
Payments received from farmout agreement		9.1		6,250			—
Payments for acquisitions of other intangible assets		13		(840	)		(927	)
Payments for acquisitions of investments in associates				(532	)		(770	)
Proceeds from transfer of conventional assets		1.2.1		10,000			—
Interest received		10.1		287			16

Net cash flows (used in) investing activities				(124,033	)		(169,871	)


	As of March 31, 2023		As of December 31, 2022
Argentina		1,799,638		1,638,973
Mexico		56,046		51,316

Total noncurrent assets		1,855,684		1,690,289


	Period from January 1, through March 31, 2023		Period from January 1, through March 31, 2022
Goods sold		303,213		207,920

Total revenue from contracts with customers		303,213		207,920

Recognized at a point in time		303,213		207,920


Type of products	Period from January 1, through March 31, 2023		Period from January 1, through March 31, 2022
Revenues from Crude oil sales		279,958		193,629
Revenues from Natural gas sales		21,845		13,020
Revenues from LPG sales		1,410		1,271

Total revenue from contracts with customers		303,213		207,920


Distribution channels	Period from January 1, through March 31, 2023		Period from January 1, through March 31, 2022
Exports from Crude oil		169,035		77,101
Refineries		110,923		116,528
Exports from Natural gas		12,700		2,590
Industries		5,949		2,501
Retail Natural gas distribution companies		1,726		1,985
Natural gas for electric power generation		1,470		5,944
LPG sales		1,410		1,271

Total revenue from contracts with customers		303,213		207,920


	Period from January 1, through March 31, 2023		Period from January 1, through March 31, 2022
Fees and compensation for services		16,746		14,500
Salaries and payroll taxes		4,941		5,058
Consumption of materials and spare parts		2,422		4,239
Easements and fees		1,790		3,378
Employee benefits		1,618		1,396
Transport		1,483		1,203
Other		1,144		1,065

Total operating costs		30,144		30,839


	Period from January 1, through March 31, 2023		Period from January 1, through March 31, 2022
Crude oil stock at beginning of period (Note18)		4,722		5,222
Less: Crude oil stock at end of period (Note 18)		—		(7,877	)

Total Crude oil stock fluctuation		4,722		(2,655	)


	Period from January 1, through March 31, 2023		Period from January 1, through March 31, 2022
Geological and geophysical expenses		222		205

Total exploration expenses		222		205


	Period from January 1, through March 31, 2023			Period from January 1, through March 31, 2022
Provision for environmental remediation ⁽¹⁾		(322	)		(697	)
Restructuring and reorganization expenses ⁽²⁾		(271	)		(272	)
Provision for materials and spare parts obsolescence ⁽¹⁾		879			(17	)
Provision for contingencies ⁽¹⁾		10			(274	)
Other charges		(1,259	)		—

Total other operating expenses		(963	)		(1,260	)


	Land and buildings			Vehicles, machinery, facilities, computer hardware and furniture and fixtures			Oil and gas properties			Production wells and facilities			Works in progress			Materials and spare parts			Total
Cost
Amounts as of December 31, 2022		10,794			43,522			513,164			1,607,895			153,948			41,958			2,371,281
Additions		—			—			—			—			133,237			28,577			161,814
Transfers		599			980			—			112,401			(100,897	)		(13,083	)		—
Disposals		—			(2	)		(623	)⁽¹⁾		(2,904	)⁽²⁾		—			—			(3,529	)
Disposals related to the transfer of conventional assets ⁽³⁾		(1,694	)		(7,537	)		—			(292,020	)		(383	)		(12,749	)		(314,383	)

Amounts as of March 31, 2023		9,699			36,963			512,541			1,425,372			185,905			44,703			2,215,183

Accumulated depreciation
Amounts as of December 31, 2022		(300	)		(15,587	)		(67,947	)		(681,108	)		—			—			(764,942	)
Depreciation		(3	)		(1,242	)		(3,676	)		(57,056	)		—			—			(61,977	)
Disposals		—			2			72	⁽¹⁾		—			—			—			74
Disposals related to the transfer of conventional assets ⁽³⁾		71			5,259			—			188,524			—			—			193,854

Amounts as of March 31, 2023		(232	)		(11,568	)		(71,551	)		(549,640	)		—			—			(632,991	)

Net value
Amounts as of March 31, 2023		9,467			25,395			440,990			875,732			185,905			44,703			1,582,192

Amounts as of December 31, 2022		10,494			27,935			445,217			926,787			153,948			41,958			1,606,339


	Period from January 1, through March 31, 2023		Period from January 1, through March 31, 2022
Financial interest		287		16

Total interest income		287		16


	Period from January 1, through March 31, 2023			Period from January 1, through March 31, 2022
Borrowings interest (Note 17.2)		(6,137	)		(8,232	)

Total interest expense		(6,137	)		(8,232	)


	Period from January 1, through March 31, 2023			Period from January 1, through March 31, 2022
Amortized cost (Note 17.2)		(364	)		(533	)
Changes in the fair value of warrants		—			(22,777	)
Net changes in foreign exchange rate		6,570			6,696
Discount of assets and liabilities at present value		(709	)		(681	)
Changes in the fair value of financial assets		(3,202	)		(581	)
Interest expense on lease liabilities (Note 14)		(388	)		(547	)
Discount for well plugging and abandonment		(499	)		(652	)
Remeasurement in borrowings ⁽¹⁾		(13,690	)		(8,679	)
Other		(2,033	)		(1,195	)

Total other financial income (expense)		(14,315	)		(28,949	)


	Goodwill			Other intangible assets
Cost
Amounts as of December 31, 2022		28,288			18,246

Additions		—			840
Disposals		(43	)⁽¹⁾		—
Disposals related to the transfer of conventional assets ⁽²⁾		(5,542	)		(1,143	)

Amounts as of March 31, 2023		22,703			17,943

Accumulated amortization
Amounts as of December 31, 2022		—			(11,454	)
Amortization		—			(938	)
Disposals related to the transfer of conventional assets ⁽²⁾		—			1,143

Amounts as of March 31, 2023		—			(11,249	)

Net value
Amounts as of March 31, 2023		22,703			6,694

Amounts as of December 31, 2022		28,288			6,792


	Right-of-use assets									Total lease liabilities
	Buildings			Plant and machinery			Total			Total lease liabilities
Amounts as of December 31, 2022		986			25,242			26,228			(29,194	)

Additions		—			41,850			41,850			(41,850	)
Depreciation ⁽¹⁾		(145	)		(6,917	)		(7,062	)		—
Payments		—			—			—			9,894
Interest expense ⁽²⁾		—			—			—			(2,029	)

Amounts as of March 31, 2023		841			60,175			61,016			(63,179	)


	Period from January 1, through March 31, 2023			Period from January 1, through March 31, 2022
Income tax
Current income tax		(47,568	)		(26,559	)
Deferred income tax		(29,682	)		(750	)

Income tax (expense) disclosed in the statement of profit or loss		(77,250	)		(27,309	)

Deferred income tax charged to other comprehensive income		(38	)		45

Total income tax (expense)		(77,288	)		(27,264	)


	As of March 31, 2023		As of December 31, 2022
Noncurrent
Other receivables:
Prepayments, tax receivables and other:
Midstream prepaid expenses ⁽¹⁾		16,378		—
Prepayments and other receivables		13,330		13,630
Value added tax (“VAT”)		750		940
Turnover tax		379		493

		30,837		15,063
Financial assets:
Receivables related to the transfer of conventional assets ⁽²⁾		144,249		—
Loans to employees		683		801

		144,932		801

Total noncurrent trade and other receivables		175,769		15,864

Current
Trade:
Oil and gas accounts receivable (net of allowance for expected credit losses)		32,147		38,978

		32,147		38,978
Other receivables:
Prepayments, tax credits and other:
VAT		29,492		22,939
Prepaid expenses		11,668		13,864
Income tax		4,949		2,921
Turnover tax		1,115		634

		47,224		40,358


	As of March 31, 2023		As of December 31, 2022
Fixed interest
Less than 1 year		75,704		48,588
From 1 to 2 years		162,300		154,895
From 2 to 5 years		312,624		232,279
Over 5 years		60,397		65,427

Total		611,025		501,189
Variable interest
Less than 1 year		23,542		23,143
From 1 to 2 years		—		—
From 2 to 5 years		25,000		25,000
Over 5 years		—		—

Total		48,542		48,143

Total Borrowings		659,567		549,332


Company	Execution date	Currency	Principal			Interest		Annual rate			Maturity date	As of March 31, 2023		As of December 31, 2022
ON III	February, 2020	USD		50,000			Fixed		3.50	%	February, 2024		9,524		9,607
ON VI	December, 2020	USD		10,000			Fixed		3.24	%	December, 2024		9,976		9,968
ON VII	March, 2021	USD		42,371			Fixed		4.25	%	March, 2024		42,257		42,200
ON VIII	March, 2021	ARS		3,054,537	⁽¹⁾		Fixed		2.73	%	September, 2024		45,133		45,185


	As of March 31, 2023			As of December 31, 2022
Amounts at beginning of year		549,332			610,973
Proceeds from borrowings ⁽¹⁾		135,000			228,614
Borrowings interest ⁽²⁾ (Note 10.2)		6,137			28,886
Payment of borrowings cost		(728	)		(1,670	)
Payment of borrowings interest		(7,877	)		(34,430	)
Payment of borrowings principal ⁽¹⁾		(22,500	)		(294,917	)
Amortized cost ⁽²⁾ (Note 10.3)		364			2,365
Remeasurement in borrowings ⁽²⁾ (Note 10.3)		13,690			52,817
Changes in foreign exchange rate ⁽²⁾		(13,851	)		(45,821	)
Other financial expense ⁽²⁾		—			2,515

Amounts at end of year		659,567			549,332


As of March 31, 2023	Financial assets / liabilities at amortized cost		Financial assets / liabilities FVTPL		Total financial assets / liabilities
Assets
Plan assets (Note 25)		393		5,782		6,175
Trade and other receivables (Note 16)		144,932		—		144,932

Total noncurrent financial assets		145,325		5,782		151,107

Cash, bank balances and other short-term investments (Note 19)		68,772		281,470		350,242
Trade and other receivables (Note 16)		97,370		—		97,370

Total current financial assets		166,142		281,470		447,612

Liabilities
Borrowings (Note 17.1)		560,321		—		560,321
Lease liabilities (Note 14)		34,080		—		34,080

Total noncurrent financial liabilities		594,401		—		594,401

Borrowings (Note 17.1)		99,246		—		99,246
Trade and other payables (Note 24)		233,131		—		233,131
Lease liabilities (Note 14)		29,099		—		29,099

Total current financial liabilities		361,476		—		361,476


	Financial assets / liabilities at amortized cost			Financial assets / liabilities at FVTPL			Total financial assets / liabilities
Interest income (Note 10.1)		287			—			287
Interest expense (Note 10.2)		(6,137	)		—			(6,137	)
Amortized cost (Note 10.3)		(364	)		—			(364	)
Net changes in foreign exchange rate (Note 10.3)		6,570			—			6,570
Discount of assets and liabilities at present value (Note 10.3)		(709	)		—			(709	)
Changes in the fair value of financial assets (Note 10.3)		—			(3,202	)		(3,202	)
Interest expense on lease liabilities (Note 10.3)		(388	)		—			(388	)
Discount for well plugging and abandonment (Note 10.3)		(499	)		—			(499	)
Remeasurement in borrowings (Note 10.3)		(13,690	)		—			(13,690	)
Other (Note 10.3)		(2,033	)		—			(2,033	)

Total		(16,963	)		(3,202	)		(20,165	)


	Financial assets/liabilities at amortized cost			Financial assets/liabilities at FVTPL			Total financial assets / liabilities
Interest income (Note 10.1)		16			—			16
Interest expense (Note 10.2)		(8,232	)		—			(8,232	)
Amortized cost (Note 10.3)		(533	)		—			(533	)
Changes in the fair value of warrants (Note 10.3)		—			(22,777	)		(22,777	)
Net changes in foreign exchange rate (Note 10.3)		6,696			—			6,696
Discount of assets and liabilities at present value (Note 10.3)		(681	)		—			(681	)
Changes in the fair value of financial assets (Note 10.3)		—			(581	)		(581	)
Interest expense on lease liabilities (Note 10.3)		(547	)		—			(547	)
Discount for well plugging and abandonment (Note 10.3)		(652	)		—			(652	)
Remeasurement in borrowings (Note 10.3)		(8,679	)		—			(8,679	)
Other (Note 10.3)		(1,195	)		—			(1,195	)

Total		(13,807	)		(23,358	)		(37,165	)


As of March 31, 2023	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss
Short-term investments		281,470		—		—		281,470
Plan assets		5,782		—		—		5,782

Total assets		287,252		—		—		287,252


		As of March 31, 2023
Changes in interest rates in Argentine pesos		+/- 50 %
Effect on profit or loss		(74,065) / 74,065
Effect on equity		(74,065) / 74,065


	As of March 31, 2023		As of December 31, 2022
Materials and spare parts		8,464		8,177
Crude oil stock (Note 5.2)		—		4,722

Total		8,464		12,899


	As of March 31, 2023		As of December 31, 2022
Mutual funds		279,997		202,165
Cash in banks		47,495		23,910
Money market funds		20,173		15,881
Government bonds		2,577		2,429

Total		350,242		244,385


	Series A		Series C ⁽¹⁾		Total
Amounts as of December 31, 2022		517,873		—		517,873
Number of shares		88,406,478		2		88,406,480

Cashless exercises of warrant		—		—		—
Number of shares		1,176,811		—		1,176,811
Series A shares to be granted in LTIP		1		—		1
Number of shares		3,300,253		—		3,300,253

Amounts as of March 31, 2023		517,874		—		517,874
Number of shares		92,883,542		2		92,883,544


	Period from January 1, through March 31, 2023			Period from January 1, through March 31, 2022
Cost of services		(6	)		(10	)
Cost of interest		(147	)		(94	)

Total		(153	)		(104	)


	As of March 31, 2023
	Present value of the obligation			Plan assets			Net liabilities
Amounts at beginning of period		(19,009	)		6,758			(12,251	)
Items classified as loss or profit
Cost of services		(6	)		—			(6	)
Cost of interest		(228	)		81			(147	)
Items classified in other comprehensive income
Actuarial remediation gain		—			109			109
Benefit payments		848			(848	)		—
Payment of contributions		—			75			75

Amounts at end of period		(18,395	)		6,175			(12,220	)