Overview
- Vista Energy, which updated its plan Monday, raised 2026 spending to $1.8 billion and set $5.6 billion for 2026–28.
- The purchase of Equinor stakes in Bandurria Sur and Bajo del Toro added about 22,000 boe/d, lifting output above 160,000 boe/d and cementing Vista as Argentina’s largest independent oil producer and top crude exporter.
- Guidance now calls for $3.0 billion in adjusted EBITDA in 2026 and $2.8 billion in free cash over 2026–28, with production targets of 208,000 boe/d by 2028 and 250,000 by 2030 and net leverage near 1.0x by late 2026.
- A February decree extended Argentina’s large‑investment regime (RIGI) to new upstream projects through July 2027, and Vista is preparing filings for Bandurria Norte and Aguada Mora to speed development under those incentives.
- Shares rose about 2% after the update as the company cited Brent price assumptions of $85 for parts of 2026 easing to $75 by 2028, which could support more exports from Vaca Muerta and more work for oilfield suppliers in Neuquén.