Overview
- Vista signed a definitive deal to buy Equinor’s onshore stakes in Bandurria Sur and Bajo del Toro for a net initial $712 million.
- The consideration includes $387 million in cash and 6.2 million Vista ADS, plus contingent payments tied to production and Brent prices between $65 and $80 per barrel.
- Post-closing ownership would be Bandurria Sur: YPF 44.9%, Shell 30%, Vista 25.1%; Bajo del Toro: YPF 65%, Vista 35%, with YPF continuing as operator.
- Closing is targeted for Q2 2026 and remains subject to partner pre‑emptive rights and regulatory approvals, with YPF already signing renunciations subject to Shell’s decision and Chilean antitrust review noted.
- Vista expects the assets to add about 22,000 boe/d, lift projected output above 150,000 boe/d, and add roughly 54 million boe of proved reserves and 27,730 net acres; financing of up to $600 million over four years is led by Santander, Citi and Itaú.