What's Going On With Vista Energy Shares Wednesday?

Vista Energy S.A.B. De C.V. VIST stock is trading higher on Wednesday after the company announced it will acquire Petronas E&P Argentina.

The Details: Vista will acquire Petronas for $900 million in cash, $300 million in deferred payments and approximately 7.3 million in American Depositary Shares representing Vista’s series A shares. Petronas holds 50% working interest in La Amarga Chica in Vaca Muerta, Argentina, which Vista will acquire as part of the deal.

The field spans 46,594 acres in the black oil window of Vaca Muerta. As of December 31, 2024, it had 247 producing wells and held an estimated 280 million barrels of oil equivalent in reserves at the end of 2023.

“With this acquisition, we gain significant scale in Vaca Muerta with a premium block that has growing production and low operating costs, enabling the acceleration of our long-term plan and strengthening our free-cash-flow profile. The acquisition both increases our profitability and enhances our portfolio of ready-to-drill locations in the core area of Vaca Muerta,” said Miguel Galuccio, Vista’s Chairman and CEO.

“Importantly, in the current global macro and oil price environment we are consolidating a high-margin, low-breakeven asset, with strong synergies with our ongoing operation, reflecting our constructive long-term view on crude oil demand and supply dynamics. I firmly believe this represents a unique opportunity to create long-term value for our shareholders.”

What Else: Vista is expected to report earnings on April 23. Analysts’ estimate earnings per share of 87 cents and revenue of $446.22 million, per data from Benzinga Pro.

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VIST Price Action: At the time of writing, Vista stock is trading 9.82% higher at $44.35, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.