I N V E S TO R P R E S E N TAT I O N FEBRUARY 2020
Company overview Strong operating and financial performance Concentrated in Argentinas Premier Basin Neuquina Basin blocks(5) 30.0 LTM Revenue(1) 416MM 4Q19 Production Mboe/d 101.8 LTM Adj. EBITDA(1)(2) 171MM 2019 1P Reserves(4)…
Platform poised for growth Continued growth path in 2019 High-growth organic development plan, based on current premium asset base 2018 2019 2020 % Target production growth Actuals(1) Actuals Guidance boe/d Daily Exit Rate 24,470…
Investment highlights Low-cost and stable operation Prime Vaca Muerta locations already under development with solid results Strong cash flow generation with significant upside potential Flat and agile organization led…
Low-cost and stable operation Operating milestones Reverted decline in conventional production Total production (Mboe/d) Pro forma Actual +28% 31.6 29.0 30.0 27.2 25.7 24.6 24.4 24.2 24.7 2017 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19…
2019 total proved reserves and production(1) Strong Vaca Muerta productivity drives reserves and production boost 2019 reserves reconciliation Reserve Replacement Ratio(2) MMboe Total 516% Oil Gas 633% 294% (3) Breakdown…
Low-cost and stable operation High-quality oil-weighted production cluster Asset profile 2019 1P Net 4Q 2019 Reserves Net production Concession Oil and gas production from well-understood reservoirs Block W.I. (%) (MMboe) Acreage…
Vaca Muerta history recap Building momentum (Mboe/d) 300 May-2013: First unconventional EPF in Loma La Lata Norte 250 Jun-2013: EIA report Mar-2017: Tecpetrol states Vaca Muerta is starts field development in the 2nd largest shale…
Vaca Muerta acreage Four blocks in the epicenter of prominent developments Bajada del Palo Oeste Net acres: 62,641 (100% WI) License term: 2053 2019 plan: 12 new wells in production (8 wells already producing) Operator: Vista…
Vaca Muerta development Bajada del Palo Oeste prime acreage Potential Best-in-Class Resource Properties(1) Cube development scheduled to minimize parent-child effect Bajada del Permian Eagle Ford Palo Oeste (Wolfcamp) TOC (%) 4.2…
Vaca Muerta development Bajada del Palo Oeste fast track to full-scale development in factory-mode Fast track development plan supported by novel One-Team approach Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Typical development…
Vaca Muerta development Significant drilling and completion improvement between first and third pads State-of-the-art technology Improved efficiency in second and third pads Drilling: Drilling speed Cost per lateral foot Drilled…
Vaca Muerta development First two pads are producing above expectations Cumulative production by well Daily production by well Mboe Mboe/d 2.4 2.1 1.8 300 1.5 1.2 270 0.9 0.6 0.3 240 0.0 0 30 60 90 120 150 180 210 240 270…
Vaca Muerta development Vista well productivity is top-decile in both Permian and Vaca Muerta Permian wells - cumulative 180-day oil production (vintage 2017, 2018 and 2019)(1) Mboe/well - normalized to 2,500 meters lateral length…
Financial overview Solid financial position Full-year 2019 cash flow MM Quarterly leverage ratios as of December 31, 2019(1) Successful capital raise of 100 million dollars in a dual listing in the New York Stock Exchange (July…
Lean organization led by one of the most experienced O&G teams in the region +25 years of energy experience across five continents (integrated oil and gas and oilfield services) Miguel Galuccio Chairman and CEO Independent board member…
Closing remarks Low-cost and stable operation Prime Vaca Muerta locations already under development with solid results Strong cash flow generation with significant upside potential Flat and agile organization led by…
Vaca Muerta development Bajada del Palo Oeste fast track to full-scale development in factory-mode (contd) 22 Km flat-hose water transfer to tanks on location 100% guaranteed water availability during frac activities Reduced cost…
Vaca Muerta development Bajada del Palo Oeste fast track to full-scale development in factory-mode (contd) 100% of completion using sand boxes Minimal exposure to sand dust Improved logistics and reduced trucking costs Improved…
Funding: capital markets activity Raised 250 million through dual listing in NYSE, a two-tranche Argentine bond issuances and a subsequent 48-month Argentine bond Vista Argentina raised 50 million in 24-month local bond issuance…
Revenues and pricing Production growth offset by lower realized prices Revenues Crude oil average price Natural gas average price MM /bbl /MMBtu (7)% (27)% (45)% 104.1 105.4 65.5 4.0 96.4 3.5 48.7 48.1 2.2 Q4 2018 Q3…
Opex Strong y-o-y lifting cost reduction Total Opex Opex per boe MM /boe (26)% (10)% 12.6 28.6 28.4 25.7 9.8 9.3 Q4 2018 Q3 2019 Q4 2019 Q4 2018 Q3 2019 Q4 2019 Decrease in Opex per boe as a result of absorbing cost…
Consolidated Balance Sheet Amounts expressed in MM Consolidated Balance Sheet As of Dec 31, 2019 As of Dec 31, 2018 Cash and cash equivalents 260.0 80.9 Trade and other receivables 95.0 86.1 Assets held for sale 0.0 0.0 Inventories…
Consolidated Income Statement Amounts expressed in MM Jan. 1, 2019 to For year ended Income Statement Dec. 31, 2019 Dec. 31, 2018 Adjusted EBITDA(1) reconciliation Revenues 416.0 331.3 Adjusted EBITDA for 2019 was 171MM, with an…
Mexican assets overview First steps towards platform regionalization C B A Key facts Operator Location Background / development strategy State: Tabasco Vista(2) A Incremental production through workover Net area: 11,758…
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