Vista Energy, S.A.B. de C.V. (NYSE:VIST) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ET

Company Participants

Alejandro Cherñacov - Strategic Planning & Investor Relations Officer

Miguel Galuccio - Chairman & Chief Executive Officer

Conference Call Participants

Guilherme Levy - Morgan Stanley

Walter Chiarvesio - Santander

Regis Cardoso - Credit Suisse

Alejandro Demichelis - Nau Securities

Andrés Cardona - Citigroup

Oriana Covault - Balanz

Operator

Ladies and gentlemen, thank you for standing by and welcome to Vista's First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions]

It is now my pleasure to introduce Strategic Planning and Investor Relations Officer, Alejandro Cherñacov.

Alejandro Cherñacov

Thanks. Good morning, everyone. We are happy to welcome you to Vista's First Quarter 2022 Results Conference Call. I'm here with Miguel Galuccio, Vista's Chairman and CEO; and Pablo Vera Pinto, Vista's CFO; and Juan Garoby, Vista's COO.

Before we begin, I would like to draw your attention to our cautionary statement on slide 2. Please be advised that our remarks today, including the answers to your questions may include forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from expectations contemplated by these remarks.

Our financial figures are stated in US dollars and in accordance with International Financial Reporting Standards, IFRS. However, during this conference call, we may discuss certain non-IFRS financial measures such as adjusted EBITDA. Reconciliations of these measures to the closest IFRS measure can be found in the earnings release that we issued yesterday. Please check our website for further information.

Our company, Vista, is a sociedad anónima bursátil de capital variable organized under the laws of Mexico, registered in the Bolsa Mexicana de Valores and the New York Stock Exchange. The tickers of our common stock are VISTAA in the Bolsa Mexicana de Valores and VIST in the New York Stock Exchange. The ticker of our warrant is VTW408A.

I will now turn the call over to Miguel.

Miguel Galuccio

Thanks, Ale. Good morning, everyone, and thank you for joining this earnings call. I am delighted to share with you our results of the first quarter of 2022, showing our robust performance across all key operational and financial metrics.

During Q1 2022, total production averaged 43,900 boes per day, a 29% increase year-over-year. Oil production was up 35% year-over-year, boosted by solid well performance in Bajada del Palo Oeste.