CompaniesVista Energy SAB de CVFollowMEXICO CITY/BUENOS AIRES, Nov 12 (Reuters) – Mexican energy producer Vista (VISTAA.MX), opens new tab is set to invest more than $4.5 billion in the vast Vaca Muerta shale formation in Argentina in a bid to boost production, the firm said on Wednesday.Vista expects its output to climb to more than 200,000 barrels of oil equivalent per day (boe/d) by 2030, from an expected 114,000 boe/d this year, it said in a presentation to investors.
Sign up here.
Mexico City-listed shares in the company were up nearly 2% after opening, to 950 pesos ($51.72) apiece.Vista is Argentina’s second-largest shale producer, and has invested heavily in Vaca Muerta.The firm is planning to double its export revenues in the next three years, it said, projecting to bring in $8 billion over the period.Core earnings, or earnings before interest, taxes, depreciation and amortization (EBITDA), was expected to climb 75% from 2025 to 2028, reaching $2.8 billion, Vista added.($1 = 18.3694 Mexican pesos)
Reporting by Kylie Madry in Mexico City and Walter Bianchi in Buenos Aires; Editing by Gabriel Araujo
Our Standards: The Thomson Reuters Trust Principles., opens new tab
