Vista Energy (VISTAA) Q4 2024 earnings summary

Executive summary

• Q4 2024 total production reached 85,276 boe/d, up 17% sequentially and 51% year-over-year, driven by the tie-in of 25 wells; full year production averaged 69,660 boe/d, a 36% increase over 2023, with 50 new wells tied-in.

• Proved reserves as of December 31, 2024, totaled 375.2 MMboe, up 18% year-over-year, with a reserves replacement ratio of 323%.

• Achieved robust operational and financial performance in Q4 and full year 2024, delivering on annual guidance across key metrics.

• Significant progress in sustainability, reducing GHG emissions intensity by 44% year-over-year.

• Share price increased 83% year-over-year, reflecting strong operational and financial performance.

Financial highlights

• Q4 2024 revenues were $471.3 million, up 52% year-over-year and 2% sequentially; full year 2024 revenues reached $1,647.8 million, a 41% increase over 2023.

• Adjusted EBITDA for Q4 2024 was $273.3 million (margin 57%), down 5% year-over-year; full year Adjusted EBITDA was $1,092.4 million (margin 65%), up 25% year-over-year.

• Q4 2024 net income was $93.8 million (EPS $0.98/share), down from $132.9 million in Q4 2023; full year net income was $477.5 million (EPS $4.98/share), up from $397.0 million in 2023.

• Q4 2024 free cash flow was $57.1 million; full year 2024 free cash flow was negative $92.9 million due to high capex.

• Q4 2024 lifting cost was $4.7/boe, 1% below the previous quarter; full year 2024 lifting cost was $4.6/boe, down from $5.1/boe in 2023.

Outlook and guidance

• 2025 production guidance: 95,000–100,000 barrels of oil per day, implying 35–40% growth.

• Proceeds from borrowings in Q4 2024 ($835.9 million) were used to finance the 2025 development plan.

• Lifting costs for 2025 guided between $4.3–$4.5 per barrel.

• CapEx for 2025 expected between $1–$1.3 billion, excluding Vaca Muerta Sur investment.

• Continued focus on profitable growth, operational efficiency, and emissions reduction.