Vista announces the acquisition of 50% working interest in the Aguada Federal and Bandurria Norte
concessions in Vaca Muerta to become operator and sole concession owner
Mexico City, January 17, 2022 Vista Oil & Gas, S.A.B. de
C.V. (Vista or the Company) (NYSE: VIST; BMV: VISTA) announced today that it has agreed to acquire on January 18, 2022, through its subsidiary Vista Oil & Gas Argentina SAU, a 50% operated working
interest in the Aguada Federal and Bandurria Norte concessions (the Assets), located in the Vaca Muerta shale oil play, from Wintershall DEA Argentina S.A. (the Transaction).
The effective date of the Transaction is January 1, 2022. Through the Transaction, Vista will acquire 25,231 net acres, increasing its total acreage in
Vaca Muerta to 183,084 acres. The Company will also add up to 150 new well locations to its Vaca Muerta portfolio, totaling up to 850 identified new well locations. The final closing of the Transaction shall take place upon the issuance of a decree
by the Province of Neuquen approving the assignment of the Assets to Vista.
Vista has agreed to pay a purchase price of US$140,000,000, of which
US$90,000,000 are payable on or prior to January 18, 2022, and the remaining US$50,000,000 are payable in 8 equal quarterly installments starting April 2022. Additionally, the Transaction effectively cancels the carry consideration of
US$77,000,000 the Company had assumed on September 16, 2021, when it acquired the initial 50% working interest in the Assets.
This deal is a
unique opportunity that allows us to continue expanding our leadership in Vaca Muerta and to reaffirm our commitment to its development by incorporating high-potential assets, in which we plan to capture significant operational synergies, said
Miguel Galuccio, Vistas Chairman and CEO, adding: As operators of the blocks, we plan to replicate our operating business model based on efficiency, safety and, mainly, sustainability.