VistaEnergy

What VistaEnergy does

Vista Energy, S.A.B. de C.V. is a Latin American upstream oil and gas producer founded in 2017 by Miguel Galuccio, former CEO of YPF, and dual-listed on the NYSE (VIST) and Mexican Stock Exchange (BMV: VISTA) with headquarters in Mexico City and primary operations in Neuquén, Argentina. The company is Argentina's second-largest shale oil producer, focused on unconventional development in the Vaca Muerta formation within the Neuquina Basin, where it controls approximately 257,000 net acres and has identified up to 1,954 well locations, of which roughly 1,520 are ready-to-drill. P1 reserves stood at 588 MMboe (89% oil) as of year-end 2025, and Q1 2026 production reached 134.7 Mboe/d, a 59% year-over-year increase.

The company's core product is crude oil and natural gas, with technology differentiators that include Argentina's first two electric drilling rigs, Latin America's first electric gas compression station, an integrated LDAR methane detection program combining Optical Gas Imaging and aerial surveys, and a 59% renewable share in the energy matrix yielding top-decile global GHG intensity of 6.8 kgCO2e/boe in 2025. Lifting cost is $4.3/boe in Q1 2026, down 69% since 2018. Vista also operates the Aike nature-based solutions subsidiary managing 13 carbon projects across 43,000 hectares.

Revenue is generated through direct enterprise sales of crude oil and natural gas, with 67% of Q1 2026 oil sales volumes exported and 100% of total volumes sold at export parity pricing through international offtake agreements; the remainder serves the Argentine domestic gas market. Capital is sourced via the dual equity listing and a multi-tranche senior note program under both New York law and Argentine regulations, with cumulative issuances of approximately $2.4 billion across 2024-2026, underwritten by Citigroup, Itau, and Santander. The institutional shareholder base is anchored by Capital World Investors, Banco Santander, and Ping Capital Management, which collectively hold approximately 63.81% of shares.

Name

VistaEnergy

Legal name

Vista Energy, S.A.B. de C.V.

Website

https://vistaenergy.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Vista Energy is a Latin American upstream oil and gas producer focused on unconventional shale development in Argentina's Vaca Muerta formation, holding roughly 257,000 net acres, producing 134.7 Mboe/d in Q1 2026, and dual-listed on NYSE (VIST) and BMV (VISTA).

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration & Production

NAICS

Oil and Gas Extraction (2111), Support Activities for Oil and Gas Operations (213112)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Supplier Engagement & Value-Chain Decarbonization Programs (EUABAKAE)

Keywords

• Shale oil production
• Unconventional gas exploration
• Crude oil extraction
• Vaca Muerta operations
• Upstream oil services

Headquarters

HQ city

Lomas De Chapultepec

HQ country

Mexico

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Others

Revenue model

1. Oil and Gas Production Revenue: Vista Energy generates revenue through the production and sale of crude oil and natural gas from its unconventional assets in the Vaca Muerta formation. The company exports approximately 67% of oil sales volumes with 100% of total volumes sold at export parity pricing.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Vista Energy is an oil and gas exploration and production company that develops unconventional shale oil and natural gas from approximately 257,000 net acres in Argentina's Vaca Muerta formation. The company extracts, treats, and sells crude oil (67% exported at export parity) and natural gas to enterprise offtake customers, with Q1 2026 production of 134.7 Mboe/d and P1 reserves of 588 MMboe.

Product overview

Vista Energy, S.A.B. de C.V. is an oil and gas exploration and production company operating primarily in Argentina's Vaca Muerta formation. The company operates through its main subsidiary Vista Energy Argentina S.A.U., focusing on unconventional shale oil and gas production. The company's core business is crude petroleum and natural gas extraction, with operations concentrated in the Neuquina Basin. Vista Energy is dual-listed on the NYSE (ticker: VIST) and the Mexican Stock Exchange (ticker: VISTA), with headquarters in Mexico City and operations based in Neuquén, Argentina.

Differentiator

Problem solved

Functional benefit

Brands

• Aike: Nature-based solutions subsidiary that designs, develops, and manages carbon removal and avoidance projects for Vista Energy.

Products and services

• Crude Oil Production and Sales Unconventional shale crude oil extracted from approximately 257,000 net acres in the Vaca Muerta formation; approximately 67% of Q1 2026 oil sales volumes were exported at 100% export parity pricing, sold to international and domestic enterprise offtake customers.
• Natural Gas Production and Sales Unconventional shale natural gas produced from Vista Energy's Vaca Muerta asset base and sold into the Argentine domestic market.
• Aike Nature-Based Carbon Credits Carbon removal and avoidance credits generated through nature-based solutions projects managed by Vista Energy's wholly-owned subsidiary Aike, applicable to corporate decarbonization and ESG strategies.

Quantifiable outcome

• Q1-26 production of 134.7 Mboe/d, up 59% YoY
• +5 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered core and minor.

• EquinorcoreStrategic or Co-development Partner · 7 May 2026Vista Energy completed the acquisition of Equinor's working interests in the La Calcha, Bandurria Sur, and Bajo del Toro blocks in the Vaca Muerta formation. Bank of America calculates the transaction will yield a 28% internal rate of return.
• TecpetrolcoreStrategic or Co-development PartnerPartnership with Tecpetrol and the Province of Neuquén to implement GenEra, a three-year program strengthening technical secondary education to build human capital for the oil and gas industry.
• Province of NeuquéncoreStrategic or Co-development PartnerGovernment partnership through GenEra education program covering 65% of all technical secondary institutions in Neuquén.
• CimientosminorStrategic or Co-development PartnerCollaboration with NGO Cimientos to award 35 university scholarships and 35 secondary school scholarships to promote educational opportunities for youth from vulnerable local communities.
• Laureus FoundationminorStrategic or Co-development PartnerPartnership with Laureus Foundation for the Strengthening Sports contest, now in its fourth consecutive year, benefiting over 11,200 athletes across all editions.
• Espartanos FoundationminorStrategic or Co-development PartnerPartnership with Espartanos Foundation for rugby training sessions at prisons in Neuquén and Buenos Aires, combining volunteer engagement with reintegration programs.
• TECHOminorStrategic or Co-development PartnerPartnership with TECHO organization for construction of emergency housing in Neuquén and Buenos Aires to provide sustainable solutions for informal settlement residents.
• ExA FoundationsminorStrategic or Co-development PartnerPartnership with ExA Foundations to train 23 teachers nationwide in gender diversity tools benefiting 47 schools and over 1,500 students to promote STEM interest among girls.
• Chicas en TecnologíaminorStrategic or Co-development PartnerStrategic alliance through Project Strengthening the STEM Pathway for Young Women in Argentina, co-funded by the European Union, developed with Chicas en Tecnología, Fundación Cimientos and Enseñá por Argentina.
• Fundación CimientosminorStrategic or Co-development PartnerCo-development partner in STEM education initiatives for young women in Argentina.
• Enseñá por ArgentinaminorStrategic or Co-development PartnerCo-development partner in STEM education initiatives for young women in Argentina.
• ITBAminorStrategic or Co-development PartnerAwarded 8 scholarships (4 male, 4 female) to students from ITBA and Universidad Austral focused on students from low-income backgrounds to encourage gender equality in STEM education.
• Universidad AustralminorStrategic or Co-development PartnerAwarded 8 scholarships (4 male, 4 female) to students from ITBA and Universidad Austral focused on students from low-income backgrounds.

Scale indicators26 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• YPF: Argentina's dominant integrated oil and gas company and largest Vaca Muerta operator. YPF is Vista's primary competitor for Vaca Muerta acreage, offtake infrastructure, and capital markets attention in Argentina.
• Tecpetrol: Argentine oil and gas company controlled by the Rocca family with significant Vaca Muerta operations. Tecpetrol is a direct peer in unconventional shale development and is even a partner with Vista in the GenEra education program in Neuquén.
• Pampa Energía: Argentina's largest integrated energy company with material upstream oil and gas operations alongside power generation. Comparable to Vista as a publicly traded Argentine energy producer with overlapping investor base and exposure to Vaca Muerta.
• GeoPark: Latin American-focused independent E&P company with operations in Colombia, Argentina, Chile, Brazil, and Ecuador. Comparable as a publicly traded, Latin America-focused shale and conventional operator with similar size and capital markets profile.
• Pluspetrol: Latin American E&P company with significant operations in Argentina (Vaca Muerta) and other regional countries. Closely comparable to Vista as a private/closely-held peer operating in the same basins.
• Phoenix Global Resources: AIM-listed E&P company focused on Argentine conventional and unconventional assets including Vaca Muerta. Comparable to Vista as a smaller Argentina-focused upstream peer with overlapping asset base.

Regional players

• Gran Tierra Energy: Latin America-focused E&P company with primary operations in Colombia and Ecuador. Comparable to Vista as a publicly traded, LatAm-focused independent upstream operator of similar size and growth profile.

Broad incumbents

• Chevron: Global supermajor with material Vaca Muerta operations through its subsidiary. Comparable as an upstream operator in the same Vaca Muerta basin, but vastly larger and more diversified globally.
• Shell: Global supermajor with Argentine upstream operations including Vaca Muerta. Comparable as a Vaca Muerta operator with deep technical expertise, though with much broader geographic and business diversification.
• Equinor: Norwegian international energy company that recently sold its Vaca Muerta working interests to Vista. Comparable as an upstream operator in the same Vaca Muerta blocks and as the counterparty in Vista's largest recent acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vistaoilandgas

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VistaEnergy