Vista Energy, S.A.B. de C.V 6-K, filed Feb 22, 2022

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

6-K 2022-02-22 For: 2022-02-22

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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 February 22, 2022.

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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



• Unaudited interim condensed consolidated statements of profit or loss and other comprehensive income for the years and for the three-month periods ended December 31, 2021 and 2020			3

• Unaudited interim condensed consolidated statements of financial position as of December 31, 2021 and 2020			4

• Unaudited interim condensed consolidated statements of changes in equity for the years ended December 31, 2021 and 2020			5

• Unaudited interim condensed consolidated statements of cash flows for the years and for the three-month periods ended December 31, 2021 and 2020			7

• Notes to the unaudited interim condensed consolidated financial statements as of December 31, 2021 and 2020, and for the years and for the three-month periods ended December 31, 2021 and 2020			9


	Notes	Year ended December 31, 2021			Year ended December 31, 2020			Period from October 1 through December 31, 2021			Period from October 1 through December 31, 2020
Revenue from contracts with customers	4		652,187			273,938			196,004			79,536
Cost of sales:
Operating costs	5.1		(107,123	)		(88,018	)		(30,311	)		(22,589	)
Crude oil stock fluctuation	5.2		(905	)		3,095			(1,362	)		5,529
Depreciation, depletion and amortization	12/13/14		(191,313	)		(147,674	)		(46,886	)		(44,883	)
Royalties			(86,241	)		(38,908	)		(25,858	)		(12,009	)

Gross profit			266,605			2,433			91,587			5,584

Selling expenses	6		(42,748	)		(24,023	)		(11,865	)		(6,137	)
General and administrative expenses	7		(45,858	)		(33,918	)		(14,764	)		(7,259	)
Exploration expenses	8		(561	)		(646	)		(124	)		(106	)
Other operating income	9.1		23,285			5,573			5,477			342
Other operating expenses	9.2		(4,214	)		(4,989	)		(2,317	)		(761	)
Reversal / (Impairment) of long- lived assets	2.4.2		14,044			(14,438	)		14,044			(9,484	)

Operating profit / (loss)			210,553			(70,008	)		82,038			(17,821	)

Interest income	10.1		65			822			23			19
Interest expense	10.2		(50,660	)		(47,923	)		(9,330	)		(14,224	)
Other financial results	10.3		(7,194	)		4,247			(1,013	)		779

Financial results, net			(57,789	)		(42,854	)		(10,320	)		(13,426	)

Profit / (loss) before income tax			152,764			(112,862	)		71,718			(31,247	)

Current income tax (expense) / benefit	15		(62,419	)		(184	)		(15,162	)		25
Deferred income tax (expense) / benefit	15		(39,695	)		10,297			(21,001	)		17,410

Income tax (expense) / benefit			(102,114	)		10,113			(36,163	)		17,435

Profit / (loss) for the year / period, net			50,650			(102,749	)		35,555			(13,812	)

Other comprehensive income
Other comprehensive income that shall not be reclassified to profit or loss in subsequent periods
- (Loss) / profit from actuarial remediation related to defined benefit plans	25		(4,513	)		460			(1,463	)		15
- Deferred income tax benefit / (expense)	15		2,048			(114	)		512			(4	)

Other comprehensive income that shall not be reclassified to profit or loss in subsequent periods			(2,465	)		346			(951	)		11

Other comprehensive income for the year / period, net of taxes			(2,465	)		346			(951	)		11

Total comprehensive profit / (loss) for the year / period			48,185			(102,403	)		34,604			(13,801	)

Earnings / (loss) per share
Basic (in US dollars per share)	11		0.574			(1.175	)		0.402			(0.157	)
Diluted (in US dollars per share)	11		0.543			(1.175	)		0.374			(0.157	)


	Notes	As of December 31, 2021			As of December 31, 2020
Assets
Noncurrent assets
Property, plant and equipment	12		1,223,982			1,002,258
Goodwill	13		28,416			28,484
Other intangible assets	13		3,878			21,081
Right-of-use assets	14		26,454			22,578
Investments in associates			2,977			—
Trade and other receivables	16		20,210			29,810
Deferred income tax assets			2,771			565

Total noncurrent assets			1,308,688			1,104,776

Current assets
Inventories	18		13,961			13,870
Trade and other receivables	16		46,096			51,019
Cash, bank balances and other short-term investments	19		315,013			202,947

Total current assets			375,070			267,836

Total assets			1,683,758			1,372,612

Equity and liabilities
Equity
Capital stock	20		586,706			659,400
Share-based payments			31,601			23,046
Other accumulated comprehensive losses			(5,976	)		(3,511	)
Accumulated losses			(47,072	)		(170,417	)

Total equity			565,259			508,518

Liabilities
Noncurrent liabilities
Deferred income tax liabilities			175,420			135,567
Lease liabilities	14		19,408			17,498
Provisions	21		29,657			23,909
Borrowings	17.1		447,751			349,559
Warrants	17.4		2,544			362
Employee benefits	25		7,822			3,461
Trade and other payables	24		50,159			—

Total noncurrent liabilities			732,761			530,356

Current liabilities
Provisions	21		2,880			2,084
Lease liabilities	14		7,666			6,183
Borrowings	17.1		163,222			190,227
Salaries and payroll taxes	22		17,491			11,508
Income tax liability			44,625			—
Other taxes and royalties	23		11,372			5,117
Trade and other payables	24		138,482			118,619

Total current liabilities			385,738			333,738

Total liabilities			1,118,499			864,094

Total equity and liabilities			1,683,758			1,372,612


	Capital stock			Share-based payments		Other accumulated comprehensive losses			Accumulated losses			Total equity
Amounts as of December 31, 2020		659,400			23,046		(3,511	)		(170,417	)		508,518

Profit for the year		—			—		—			50,650			50,650
Other comprehensive income for the year		—			—		(2,465	)		—			(2,465	)

Total comprehensive income		—			—		(2,465	)		50,650			48,185

Share-based payments ⁽¹⁾		1			8,555		—			—			8,556
Reduction of share capital adopted at the Ordinary General Shareholders’ meeting on December 14, 2021 (see Note 20)		(72,695	)		—		—			72,695			—


Amounts as of December 31, 2021		586,706			31,601		(5,976	)		(47,072	)		565,259


	Notes	Year ended December 31, 2021			Year ended December 31, 2020			Period from October 1 through December 31, 2021			Period from October 1 through December 31, 2020
Cash flows from operating activities
Profit / (loss) for the year / period, net			50,650			(102,749	)		35,555			(13,812	)
Adjustments to reconcile net cash flows
Items related to operating activities:
Allowance / (Reversal) of the expected credit loss	6		406			(22	)		406			—
Net changes in foreign exchange rate	10.3		(14,328	)		(3,068	)		(3,587	)		(4,146	)
Discount for well plugging and abandonment	10.3		2,546			2,584			738			621
Net increase in provisions	9.2		1,930			103			698			14
Interest expense on lease liabilities	10.3		1,079			1,641			324			533
Discount of assets and liabilities at present value	10.3		2,300			3,432			4,958			1,406
Share-based payments	7		10,592			10,494			2,494			2,751
Employee benefits	25		247			250			84			46
Income tax expense / (benefit)	15		102,114			(10,113	)		36,163			(17,435	)
Items related to investing activities:
Depreciation and depletion	12/14		187,858			145,106			46,076			44,142
Amortization of intangible assets	13		3,455			2,568			810			741
(Reversal) / Impairment of long-lived assets	2.4.2		(14,044	)		14,438			(14,044	)		9,484
Interest income	10.1		(65	)		(822	)		(23	)		(19	)
Gain from farmout agreement	9.1		(9,050	)		—			(4,525	)		—
Changes in the fair value of financial assets	10.3		(5,061	)		645			1,198			475
Gain from assets disposal	9.1		(9,999	)		—			—			—
Bargain purchase on business combination	9.1/29		—			(1,383	)		—			(1,383	)
Items related to financing activities:
Interest expense	10.2		50,660			47,923			9,330			14,224
Changes in the fair value of warrants	10.3		2,182			(16,498	)		(7,096	)		107
Amortized cost	10.3		4,164			2,811			630			838
Impairment of financial assets	10.3		—			4,839			—			—
Remeasurements in borrowing	10.3		19,163			—			7,144			—
Changes in working capital:
Trade and other receivables			7,472			3,915			18,708			(13,328	)
Inventories			908			(2,861	)		1,360			(5,197	)
Trade and other payables			16,209			2,397			(2,528	)		6,326
Payments of employee benefits	25		(399	)		(798	)		(64	)		(206	)
Salaries and payroll taxes			3,929			(2,570	)		4,480			2,309
Other taxes and royalties			(7,311	)		(2.080	)		1,926			(312	)
Provisions			(1,918	)		(1,672	)		(1,501	)		(622	)
Income tax payment			(4,296	)		(4,731	)		(866	)		(544	)

Net cash flows provided by operating activities			401,393			93,779			138,848			27,013

Cash flows from investing activities:
Payments for acquisitions of property, plant and equipment			(321,286	)		(153,257	)		(79,656	)		(54,914	)
Payments for acquisitions of other intangible assets	13		(1,611	)		(3,664	)		(502	)		(957	)
Payments for acquisitions of interests in associates			(2,977	)		—			(900	)		—
Payments received from assets disposal ⁽¹⁾	1.2.2/1.2.3		14,150			—			—			—
Cash from the acquisition of AFBN assets	1.2.4		6,203			—			—			—
Payments received from farmout agreement	1.2.1		10,000			—			5,000			—
Interest received			65			822			23			19

Net cash flows (used in) investing activities			(295,456	)		(156,099	)		(76,035	)		(55,852	)


	As of December 31, 2021
	Argentina			Mexico
Discount rates (after taxes)		16.6	%		6.1	%
Discount rates (before taxes)		19.0	%		10.0	%
Prices of crude oil, Liquefied Petroleum Gas (“LPG”) and natural gas
Crude oil (US/bbl.) ⁽¹⁾
2022		73.0			65.8
2023		70.1			63.0
2024		70.5			63.5
2025		65.9			58.9
As from 2026		64.6			58.9


	As of December 31, 2021		As of December 31, 2020
Argentina		1,260,851		1,086,308
Mexico		47,837		18,468

Total noncurrent assets		1,308,688		1,104,776


Type of products	Year ended December 31, 2021		Year ended December 31, 2020		Period from October 1 through December 31, 2021		Period from October 1 through December 31, 2020
Revenues from crude oil sales		593,060		236,596		182,088		72,461
Revenues from natural gas sales		54,301		33,575		12,244		6,213
Revenues from LPG sales		4,826		3,767		1,672		862

Total revenue from contracts with customers		652,187		273,938		196,004		79,536


Distribution channels	Year ended December 31, 2021		Year ended December 31, 2020		Period from October 1 through December 31, 2021		Period from October 1 through December 31, 2020
Refineries		410,904		141,672		111,543		60,692
Exports from crude oil		182,156		94,924		70,545		11,769
Natural gas for electric power generation		18,461		2,275		5,048		997
Retail natural gas distribution companies		18,351		13,809		2,736		2,499
Industries ⁽¹⁾		17,489		17,491		4,460		2,717
LPG sales		4,826		3,767		1,672		862

Total revenue from contracts with customers		652,187		273,938		196,004		79,536


	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, 2020		2,456			21,831			353,076			876,663			79,556			28,851			1,362,433
Additions		253			106			30,076	⁽¹⁾		7,343	⁽³⁾		287,815			28,626			354,219
Transfers		—			2,111			—			296,624			(269,161	)		(29,574	)		—
Disposals		—			(665	)		(997	)⁽²⁾		—			—			(107	)		(1,769	)
Incorporation for the acquisition of AFBN assets ⁽⁴⁾		—			—			69,693			—			—			—			69,693
Assets disposals ⁽⁵⁾		—			(313	)		(5,557	)		(5,931	)		(6,965	)		—			(18,766	)

Amounts as of December 31, 2021		2,709			23,070			446,291			1,174,699			91,245			27,796			1,765,810

Accumulated depreciation
Amounts as of December 31, 2020		(276	)		(7,466	)		(33,373	)		(319,060	)		—			—			(360,175	)
Depreciation		(18	)		(3,915	)		(20,579	)		(159,637	)		—			—			(184,149	)
Disposals		—			525			115	⁽²⁾		—			—			—			640
Assets disposals ⁽⁵⁾		—			22			214			1,620			—			—			1,856

Amounts as of December 31, 2021		(294	)		(10,834	)		(53,623	)		(477,077	)		—			—			(541,828	)

Net value

Amounts as of December 31, 2021		2,415			12,236			392,668			697,622			91,245			27,796			1,223,982

Amounts as of December 31, 2020		2,180			14,365			319,703			557,603			79,556			28,851			1,002,258


	Right-of-use assets									Total lease liabilities
	Buildings			Plant and machinery			Total			Total lease liabilities
Amounts as of December 31, 2020		1,319			21,259			22,578			(23,681	)

Additions		—			7,162			7,162			(7,162	)
Re-estimations		367			1,958			2,325			(2,242	)
Depreciation ⁽¹⁾		(475	)		(5,136	)		(5,611	)		—
Payments		—			—			—			8,911
Interest expenses ⁽²⁾		—			—			—			(2,900	)

Amounts as of December 31, 2021		1,211			25,243			26,454			(27,074	)


	As of December 31, 2021		As of December 31, 2020
Noncurrent
Other receivables:
Prepayments, tax receivables and others:
Prepayments and other receivables		15,236		9,884
Value added tax (“VAT”)		4,010		5,562
Turnover tax		765		789
Income tax		—		11,995
Minimum presumed income tax		—		1,034

		20,011		29,264
Financial assets:
Loans to employees		199		546

		199		546

Total noncurrent trade and other receivables		20,210		29,810


	As of December 31, 2021		As of December 31, 2020
Current
Trade:
Oil and gas accounts receivable (net of allowance of expected credit loss)		25,224		23,260

		25,224		23,260

Other receivables:
Prepayments, tax credits and other:
VAT		9,131		17,022
Prepaid expenses		3,633		3,228
Income tax		860		254
Turnover tax		42		406

		13,666		20,910
Financial assets:
Receivables from joint operations		2,286		24
Accounts receivable from third parties		2,025		1,974
Gas IV Plan (Note 2.5.2.2)		1,729		—
Advances to directors and loans to employees		491		499
LPG price stability program		293		322
RI program (Note 2.5.2.1)		—		4,012
Other		382		18

		7,206		6,849

Other receivables		20,872		27,759

Total current trade and other receivables		46,096		51,019


	As of December 31, 2021		As of December 31, 2020
Fixed interest
Less than 1 year		109,016		113,174
From 1 to 2 years		112,860		105,652
From 2 to 5 years		214,491		134,623
Over 5 years		75,468		—

Total		511,835		353,449
Variable interest
Less than 1 year		54,206		77,053
From 1 to 2 years		44,932		64,352
From 2 to 5 years		—		44,932

Total		99,138		186,337

Total Borrowings		610,973		539,786


	Year ended December 31, 2021		Year ended December 31, 2020		Period from October 1 through December 31, 2021		Period from October 1 through December 31, 2020
Fees and compensation for services		53,024		46,218		13,176		11,445
Salaries and payroll taxes		16,591		12,593		5,729		3,493
Consumption of materials and spare parts		15,912		11,181		5,283		3,036
Easements and fees		9,572		8,222		2,561		1,778
Employee benefits		4,877		3,867		1,437		1,061
Transport		3,274		2,351		1,069		848
Other		3,873		3,586		1,056		928

Total operating costs		107,123		88,018		30,311		22,589


	As of December 31, 2021			As of December 31, 2020
Amounts at beginning of year		539,786			451,413
Proceeds from borrowing ⁽¹⁾		361,203			198,618
Borrowing interests ⁽²⁾ (Note 10.2)		50,660			47,923
Payment of borrowing´s costs		(3,326	)		(2,259	)
Payment of borrowing´s interests		(54,636	)		(43,756	)
Payment of borrowing´s principal		(284,695	)		(98,761	)
Amortized cost ⁽²⁾ (Note 10.3)		4,164			2,811
Remeasurement in borrowing ⁽²⁾ (Note 10.3)		19,163			—
Changes in foreign exchange rate ⁽²⁾		(21,346	)		(16,203	)

Amounts at end of year		610,973			539,786


As of December 31, 2021	Financial assets / liabilities at amortized cost		Financial assets / liabilities FVTPL		Total financial assets / liabilities
Assets
Asset’s plan (Note 25)		7,594		—		7,594
Trade and other receivables (Note 16)		199		—		199

Total noncurrent financial assets		7,793		—		7,793

Cash, bank balances and short-term investments (Note 19)		185,546		129,467		315,013
Trade and other receivables (Note 16)		32,430		—		32,430

Total current financial assets		217,976		129,467		347,443

Liabilities
Borrowings (Note 17.1)		447,751		—		447,751
Trade and other payables (Note 24)		50,159		—		50,159
Warrants (Note 17.4)		—		2,544		2,544
Lease liabilities (Note 14)		19,408		—		19,408

Total noncurrent financial liabilities		517,318		2,544		519,862

Borrowings (Note 17.1)		163,222		—		163,222
Trade and other payables (Note 24)		138,482		—		138,482
Lease liabilities (Note 14)		7,666		—		7,666

Total current financial liabilities		309,370		—		309,370


As of December 31, 2020	Financial assets / liabilities at amortized cost		Financial assets / liabilities FVTPL		Total financial assets / liabilities
Assets
Asset’s plan (Note 25)		8,004		—		8,004
Trade and other receivables (Note 16)		546		—		546

Total noncurrent financial assets		8,550		—		8,550

Cash, bank balances and short-term investments (Note 19)		170,851		32,096		202,947
Trade and other receivables (Note 16)		30,109		—		30,109

Total current financial assets		200,960		32,096		233,056

Liabilities
Borrowings (Note 17.1)		349,559		—		349,559
Warrants (Note 17.4)		—		362		362
Lease liabilities (Note 14)		17,498		—		17,498

Total noncurrent financial liabilities		367,057		362		367,419

Borrowings (Note 17.1)		190,227		—		190,227
Trade and other payables (Note 24)		118,619		—		118,619
Lease liabilities (Note 14)		6,183		—		6,183

Total current financial liabilities		315,029		—		315,029


	Financial assets / liabilities at amortized cost			Financial assets / liabilities at FVTPL			Total
Interest income (Note 10.1)		65			—			65
Interest expense (Note 10.2)		(50,660	)		—			(50,660	)
Amortized cost (Note 10.3)		(4,164	)		—			(4,164	)
Changes in the fair value of warrants (Note 10.3)		—			(2,182	)		(2,182	)
Net changes in foreign exchange rate (Note 10.3)		14,328						14,328
Discount of assets and liabilities at present value (Note 10.3)		(2,300	)					(2,300	)
Changes in the fair value of financial assets (Note 10.3)		—			5,061			5,061
Interest expense on lease liabilities (Note 10.3)		(1,079	)		—			(1,079	)
Discount for well plugging and abandonment (Note 10.3)		(2,546	)		—			(2,546	)
Remeasurements in borrowing (Note 10.3)		(19,163	)		—			(19,163	)
Other (Note 10.3)		4,851			—			4,851

Total		(60,668	)		2,879			(57,789	)


	As of December 31, 2021	As of December 31, 2020
Annualized volatility	39.94%	40.21%
Risk free domestic interest rate	7.15%	4.34%
Risk free foreign interest rate	0.55%	0.13%
Remainder useful life in years	1.29 years	2.29 years


	As of December 31, 2021		As of December 31, 2020
Warrants liability amount at beginning of year:		362		16,860
Loss / (profit) from changes in the fair value of warrants (Note 10.3)		2,182		(16,498	)

Amount at end of year		2,544		362


		As of December 31, 2021
Changes in interest rates in Argentine pesos		+/- 63%
Effect on profit or loss		(69,835) / 69,835
Effect on equity		(69,835) / 69,835


	As of December 31, 2021		As of December 31, 2020
Materials and spare parts		8,739		7,743
Crude oil stock (Note 5.2)		5,222		6,127

Total		13,961		13,870


	As of December 31, 2021		As of December 31, 2020
Mutual funds		126,204		30,886
Money market funds		106,915		167,553
Cash in banks		78,098		2,875
Government bonds		3,796		1,633

Total		315,013		202,947


	Year ended December 31, 2021			Year ended December 31, 2020			Period from October 1 through December 31, 2021			Period from October 1 through December 31, 2020
Cost of services		(28	)		(60	)		(9	)		(6	)
Cost of interest		(219	)		(190	)		(75	)		(40	)

Total		(247	)		(250	)		(84	)		(46	)


	As of December 31, 2021
	Present value of the obligation			Asset’s plan			Net liabilities
Amounts at beginning of year		(11,465	)		8,004			(3,461	)
Items classified as loss or profit
Cost of services		(28	)		—			(28	)
Cost of interest		(610	)		391			(219	)
Items classified in other comprehensive income
Actuarial remediation (losses)		(4,394	)		(119	)		(4,513	)
Benefit payments		1,081			(1,081	)		—
Payment of contributions		—			399			399

Amounts at end of year		(15,416	)		7,594			(7,822	)


	As of December 31, 2021		As of December 31, 2020
Cash and cash equivalents		7,594		—
US government bonds		—		8,004

Total		7,594		8,004