Vista Energy, S.A.B. de C.V. (NYSE:VIST) Q2 2024 Earnings Conference Call July 12, 2024 9:00 AM ET

Company Participants

Alejandro Chernacov - Co-Founder, Strategic Planning and Investor Relations Officer
Miguel Galuccio - Founder, Chairman and Chief Executive Officer

Conference Call Participants

Vicente Falanga - Bradesco BBI
Daniel Guardiola - BTG Pactual
Alejandro Demichelis - Jefferies
Tasso Vasconcellos - UBS
Marina Mertens - Latin Securities
Andres Cardona - Citigroup

Operator

Good day and thank you for standing by. Welcome to Vista's Second Quarter 2024 Earnings Webcast. 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] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Alejandro Chernacov. Please go ahead.

Alejandro Chernacov

Thanks. Good morning, everyone. We are happy to welcome you to Vista's second quarter of 2024 results conference call. I am here with Miguel Galuccio, Vista's Chairman and CEO; 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 and adjusted net income. 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 is a Sociedad Anonima Bursatil de Capital Variable organized under the laws of Mexico, registered in the Bolsa Mexicana de Valores and the New York Stock Exchange. Our tickers are VISTA in the Bolsa Mexicana de Valores and VIST in the New York Stock Exchange.

I will now turn the call over to Miguel.

Miguel Galuccio

Thanks, Ale. Good morning, everyone, and welcome to this earnings call.

The second quarter of 2024 was marked by a strong interannual and sequential growth across key operational financial metrics, driven by new well activity in our development hub in Vaca Muerta.

Total production was 65,300 BOEs per day, an increase of 40% year-over-year and 19% quarter-over-quarter. Oil production was 57,200 barrels per day, 46% above the same quarter of last year.