View oil reports 29% in hydrocarbons production in Argentina

Enterprises 01 de mayo de 2022
The Vista oil company reported Thursday that it increased its production of hydrocarbons in Argentina by 29% in the first quarter, compared to the same period of 2021, and 7% compared to the previous quarter.
Miguel-Galuccio-Vista-1024x684
Miguel-Galuccio-Vista

Vista, the third oil producer in Argentina and the second shale oil operator in the country, recorded in the first quarter a total production of 43,900 barrels of oil equivalent per day (BOE/D).

In oil, the increase in production was 35%, 35,638 barrels per day, of which 29,661 correspond to unconventional oil. 97% of Shale Oil occurred in the Block Download of the West Palo, in the Vaca Muerta formation.

'In descent of the west stick we have completed the drilling of Pads 12 and 13, which will be finished during the second quarter of the year,' said the president of Vista, Miguel Galuccio, in a statement.

'This leaves us on the way to connect 24 new wells according to our Guidance 2022,' he added.

The company concentrates its production mainly in Vaca Muerta, in the province of Neuquén, which is the fourth unconventional oil reserve in the world and the second gas.

Vista reported an adjusted net profit of 39.1 million dollars in the January-March period of this year, compared to the 6.9 million dollars reported in the same period of 2021.

Profit before taxes, interest, depreciation and amortization (EBITDA) totaled 127.1 million dollars, an interannual increase of 118% driven by strong growth of income and stable operating costs, the company said.

Galuccio said that by 2022 he projects an adjusted Ebitda of 625 million dollars, 'an increase of 50 million dollars compared to the original guide. ”

Source: Reuters

(Eliana Raszewski report; edited by Walter Bianchi)

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