Fastest-growing Vaca Muerta pure-play: Bajada del Palo Oeste/Este core, plus Aguada Federal and Bandurria Norte; ~120 kboe/d and scaling toward ~150, ~85% oil; benefits from the Vaca Muerta Sur export pipeline and RIGI incentives.
Conservative balance sheet (~1.1x net debt/EBITDA) funds an aggressive multi-rig drilling program; heavy growth capex keeps FCF thin near-term. Key flags: Argentina FX/export & capital-control risk, single-basin concentration, oil-price sensitivity.
Its EV/EBITDA of 6.9x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of -8.5% is lower than the 6.5% median, and at $18.88/boe of proved reserves it is richer than the $13.51/boe median.
On a balanced screen across the universe, Vista Energy scores 49/100, strongest on growth (94/100). Sub-scores: value 30, quality 82, growth 94, risk 82 (higher = riskier).
Vista Energy holds approximately 0.59 billion boe of proved (1P) reserves with FY2025 production of about 115 thousand boe/d (89% liquids), a reserve life of roughly 14.0 years. Break-even: ~$45 (WTI/Brent breakeven) — Low-cost Vaca Muerta shale oil; strong FCF above ~$45.
For Vista Energy, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Argentina | 97% | 80 | FX controls, export taxes, macro instability despite Vaca Muerta upside. |
| Mexico | 3% | 55 | Pemex financial stress, reversal of energy reform, state control. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Bajada del Palo Oeste | Argentina | Shale oil | core producing block |
| Bajada del Palo Este | Argentina | Shale oil | development |
| Aguada Federal / Bandurria Norte | Argentina | Shale oil | growth blocks |
| Aguada de la Arena | Argentina | Shale oil | acquired 2024/25 |
| Vaca Muerta Sur pipeline | Argentina | Midstream | export capacity |
| Mexico legacy | Mexico | Oil | small conventional |
| Coiron Amargo | Argentina | Shale oil | development |
| La Amarga Chica area | Argentina | Shale oil | acreage |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 41 | 50 | 58 | 85 | 115 |
| Proved reserves (bnboe) | 0.16 | 0.21 | 0.26 | 0.34 | 0.59 |
| Revenue ($bn) | 0.6 | 1.0 | 1.2 | 1.5 | 2.5 |
| EBITDA ($bn) | 0.3 | 0.7 | 0.8 | 1.0 | 1.6 |
| Net income ($bn) | 0.1 | 0.3 | 0.4 | 0.5 | 0.7 |
| Free cash flow ($bn) | -0.1 | 0.1 | 0.1 | -0.2 | -0.7 |
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✓ FY2025 figures verified against primary sources:
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