Vista accelerates Vaca Muerta activity, aims for 85,000 boe/d by yearend
Vista Energy, the second-largest unconventional oil operator in Argentina, plans to accelerate Vaca Muerta activity with the addition of a third drilling rig, which will begin operating in this year’s second half.
The rig addition provides flexibility to accelerate drilling and improve production projections for fourth-quarter 2024, estimated at over 85,000 boe/d, said Miguel Galuccio, Vista president and chief executive officer, during the company’s first-quarter 2024 results presentation.
The company reduced its operating costs by 33%, consolidating its operational model based on efficiency in Vaca Muerta, and increased year-on-year total production by 5% and oil production by 7%.
In first-quarter 2024, Vista connected 11 new wells and connected a three-well pad in the Bajada del Palo Este block.
The company currently produces 62,000 boe/d. Double-digit growth is projected for the year’s second quarter.
Camilo Ciruzzi | South America Correspondent
Ciruzzi is a journalist based in the Argentine province of Río Negro. He has over 30 years of experience in radio and print media. Ciruzzi studied Communication Sciences at the University of Buenos Aires and specialized in energy, political economy, and finance.
