Bajada del Palo Oeste
The estimated and certified P1 oil and gas reserves at Bajada del Palo Oeste were 242.3 MMboe as of December 31, 2024, representing a 9% increase from year-end 2023. The increase was mainly driven by increased activity and strong well productivity results. The Company tied-in 34 new wells during 2024, resulting in a total of
258 booked P1 locations.
Bajada del Palo Este
The
estimated and certified P1 oil and gas reserves at Bajada del Palo Este were 73.4 MMboe as of December 31, 2024, representing an 83% increase from year-end 2023. The increase was mainly driven by
increased activity and strong well productivity results. The Company tied-in 13 new wells during 2024, resulting in a total of 64 booked P1 locations.
Aguada Federal
The estimated and certified P1 oil and
gas reserves at Aguada Federal were 45.1 MMboe as of December 31, 2024, representing a 15% increase from year-end 2023. The Company tied-in 3 new wells during 2024,
resulting in a total of 74 booked P1 locations.
P1 reserves valuation
The estimate of future net cash flows attributable to Vista’s interests in the certified P1 reserves as of December 31, 2024, evaluated in accordance
with the regulations of the United States Securities and Exchange Commission (“SEC”) and discounted at 10% per annum, amounted to 4,032 $MM in 2024.
In accordance with the regulations set forth by the SEC, future net cash flows were calculated by applying current prices of oil and gas reserves (with
consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date reported, less the estimated future expenditures (based on current costs) to be
incurred in developing and producing the proved reserves. Future net cash flows were then discounted using a factor of 10% per annum.
For the Argentina
assets, the proved reserves as of December 31, 2024, were calculated using a price of 69.4 $/bbl for oil, 25.7 $/boe for LPG and 2.9 $/MMbtu for natural gas, in accordance with SEC regulations. For CS-01
block, in Mexico, the proved reserves as of December 31, 2024, were calculated using a price of 61.5 $/bbl for oil, and 2.8 $/MMbtu for natural gas, in accordance with SEC regulations.
The estimated certified future net cash flows attributable to Vista’s interests in the P1 reserves, as of December 31, 2024, are summarized below:
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| Future net cash flows (Cumulative $MM) |
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Undiscounted |
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Discounted at 10% p.a. |
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| Proved developed |
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3,402 |
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2,231 |
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| Proved undeveloped |
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4,447 |
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1,801 |
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| Total proved |
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7,849 |
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4,032 |
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Definitions and Methodology
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The information included herein regarding estimated quantities of proved reserves is derived from estimates of
the proved reserves as of December 31, 2024, from the reports dated January 27, 2025, prepared by DeGolyer and MacNaughton for Vista’s concessions located in Argentina and Mexico. |
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According to SEC regulations, proved reserves are those quantities of oil and gas which, by analysis of
geoscience and engineering data, can be estimated with “reasonable certainty” to be economically producible—from a given date forward, from known reservoirs, and under existing economic conditions, operating methods and government
regulations—prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation.
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