Vista Energy Reaches 156,670 boe/d Production Record After Consolidating Equinor Assets in Vaca Muerta

Vista Energy’s May 2026 production of 156,670 barrels of oil equivalent per day represents the highest monthly output in the company’s history, with crude oil specifically reaching 139,469 barrels daily. The performance marks an 11.6% monthly increase and a 39.5% year-over-year gain in oil production, establishing Vista as Argentina’s leading independent oil producer and largest crude exporter. The surge follows the completion of a $712 million acquisition from Equinor that transferred 25.1% of the Bandurria Sur block and 35% of Bajo del Toro in the Neuquén Basin, with accounting consolidation beginning May 1, 2026.

The former Equinor assets contributed 18,008 boe/d in their first month under Vista’s consolidated balance sheet. This addition pushed total output beyond the 134,741 boe/d average Vista recorded in the first quarter of 2026, when the company had already posted a 67% year-over-year production increase. Vista’s directly operated areas, led by Bajada del Palo Oeste and Bajada del Palo Este, delivered 82,192 boe/d with growth of 23.8% year-over-year, supported by four new well connections. The La Amarga Chica development, where Vista holds 50% with YPF as operator, added 39,269 boe/d despite a 12.7% monthly decline attributed to well connection timing rather than reservoir performance, with six additional wells scheduled for June connection.

Operational efficiency metrics improved alongside production growth. Lifting costs decreased to $4.3 per boe in the first quarter of 2026, down 8% year-over-year, while commercial expenses fell 41% to $3.8 per boe. These cost reductions supported adjusted EBITDA of $450.8 million for the quarter, representing a 64% increase with margins expanding to 65%. First quarter revenues reached $694.3 million, up 58% year-over-year, with export sales accounting for 64% of total revenue at $431 million. Net income for the period totaled $107.7 million compared to $82.8 million in the prior year quarter.

Vista deployed $391.2 million in capital expenditures during the first quarter focused on Vaca Muerta development, completing 19 well perforations, 25 well completions, and 23 new well connections. The company maintains a 2026 capital budget of $1.8 billion and plans $5.6 billion in spending through 2028. CEO Miguel Galuccio noted the company’s transformation from a petroleum startup to Argentina’s primary independent oil producer within eight years. Production guidance calls for an average of 158,000 boe/d in 2026 before scaling to 250,000 boe/d by 2030, contingent on the late-2026 commissioning of the Vaca Muerta Oil Sur pipeline infrastructure that will expand evacuation capacity from the basin.