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Vista Energy (NYSE: VIST) has announced the acquisition of Petronas E&P Argentina (PEPASA), securing a 50% working interest in the La Amarga Chica (LACh) unconventional concession in Vaca Muerta, Argentina. The transaction is valued at US$1.2 billion, comprising US$900 million in cash, US$300 million in deferred payments, and 7.3 million ADSs.
LACh spans 46,594 acres and had 247 producing wells as of December 2024, with 280 million barrels of oil equivalent in P1 reserves. The asset produced 79,543 boe/d in Q4 2024, with 71,471 bbl/d being oil. PEPASA generated US$909 million in revenues and US$667 million in Adj. EBITDA in 2024.
The acquisition increases Vista's Q4-24 production by 47% to 125,048 boe/d and adds approximately 200 ready-to-drill well locations. The transaction was partially financed through a US$300 million credit agreement with Banco Santander.
