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

Summary updated: 2026-10-02T16:09:01.424201Z
Canonical: https://finbar.com/research/companies/vista-energy-s-a-b-de-c-v

## Overview

Vista Energy, S.A.B. de C.V. is an independent Latin American oil and gas company focused on exploration and production. Its principal products are crude oil, natural gas and natural-gas liquids, and its operations are concentrated in Argentina, particularly the Neuquén Basin and Vaca Muerta. The company was founded in 2017 and acquired Vaca Muerta assets in 2018. [1](https://app.finbar.com/go?id=T17283321) [2](https://app.finbar.com/go?id=T17283345) [3](https://app.finbar.com/go?id=P150731173) [4](https://www.vistaenergy.com/en/about-us) [5](https://www.vistaenergy.com/en/operations)

Vista states its purpose as “unleashing the potential of energy for a better future.” For the year ended December 31, 2025, it reported US$2.474 billion in revenue from contracts with customers and 584 employees. Its reported operating footprint is centered on Argentina rather than a broad global network. [6](https://www.vistaenergy.com/en) [7](https://app.finbar.com/go?id=T17283398) [8](https://www.vistaenergy.com/en/sustainability/people)
[1](https://app.finbar.com/go?id=T17283321)[2](https://app.finbar.com/go?id=T17283345)[3](https://app.finbar.com/go?id=P150731173)[4](https://www.vistaenergy.com/en/about-us)[5](https://www.vistaenergy.com/en/operations)[6](https://www.vistaenergy.com/en)[7](https://app.finbar.com/go?id=T17283398)[8](https://www.vistaenergy.com/en/sustainability/people)[4](https://www.vistaenergy.com/en/about-us)[5](https://www.vistaenergy.com/en/operations)[6](https://www.vistaenergy.com/en)[8](https://www.vistaenergy.com/en/sustainability/people)

## Products & services

Vista Energy produces and sells crude oil, natural gas and natural gas liquids (NGLs). Its reporting also tracks liquefied petroleum gas (LPG) pricing in Argentina. [9](https://app.finbar.com/go?id=T17283414)

In 2025, Vista sold 22.2 million barrels of crude oil to export markets, equal to 61% of its crude-oil sales volume. [10](https://app.finbar.com/go?id=P150732773) Its reported infrastructure includes 197 Mbbl/d of crude-oil treatment capacity, 103 Mbbl/d of that in operated blocks, and 162 Mbbl/d of pipeline takeaway capacity. [5](https://www.vistaenergy.com/en/operations)
[9](https://app.finbar.com/go?id=T17283414)[10](https://app.finbar.com/go?id=P150732773)[5](https://www.vistaenergy.com/en/operations)

## Geographic presence

Vista Energy’s operations are concentrated in Argentina, principally in the Vaca Muerta formation of the Neuquina Basin. At year-end 2025, its portfolio included six operated blocks and one non-operated Vaca Muerta block, as well as a non-operated conventional block in Argentina’s Noroeste Basin. The company also listed Mexico’s CS-01 block, but had submitted an irrevocable relinquishment notice that was pending confirmation. [11](https://app.finbar.com/go?id=P150731983)[12](https://app.finbar.com/go?id=P150731986) Argentina accounted for 42.0 MMboe of Vista’s 42.1 MMboe of net production in 2025; Mexico accounted for 0.1 MMboe. [13](https://app.finbar.com/go?id=P150732662) In February 2026, Vista agreed to acquire non-operated interests in two additional Vaca Muerta blocks, Bandurria Sur and Bajo del Toro. [14](https://app.finbar.com/go?id=P150731992)

In 2025, Vista exported 22.2 million barrels of crude oil, equal to 61% of its total crude volumes, and reported US$1,494.5 million in gross export revenue. [10](https://app.finbar.com/go?id=P150732773) Chile is a named pipeline export destination; the cited disclosures do not specify other destinations or provide a country-by-country revenue breakdown. [15](https://app.finbar.com/go?id=P150732294)[10](https://app.finbar.com/go?id=P150732773) Vista also has a Uruguayan subsidiary identified as a trader. [16](https://app.finbar.com/go?id=P150734415)

At December 31, 2025, Vista had 584 employees: 568 in Argentina, 12 in Mexico and four in Uruguay. [17](https://app.finbar.com/go?id=P150733091) Its disclosed business address for the board and executive team is in Mexico City: Torre Mapfre, 18th Floor, 243 Paseo de la Reforma Avenue, Colonia Cuauhtémoc, Alcaldía Cuauhtémoc, Mexico City, 06500, Mexico. [18](https://app.finbar.com/go?id=P150733079)
[11](https://app.finbar.com/go?id=P150731983)[12](https://app.finbar.com/go?id=P150731986)[13](https://app.finbar.com/go?id=P150732662)[14](https://app.finbar.com/go?id=P150731992)[10](https://app.finbar.com/go?id=P150732773)[15](https://app.finbar.com/go?id=P150732294)[16](https://app.finbar.com/go?id=P150734415)[17](https://app.finbar.com/go?id=P150733091)[18](https://app.finbar.com/go?id=P150733079)

## Business segments

Vista Energy reports one operating segment: exploration and production of crude oil, natural gas and LPG, including related E&P commercial activities. It does not formally report separate commodity, geographic or asset segments. [2025 Form 20-F](https://www.sec.gov/Archives/edgar/data/1762506/000119312526306139/d151775dex1.htm)

As a supplemental geographic breakdown—not a separate segment measure—Argentina accounted for approximately 99.7% of FY2025 average net production (115,107 of 115,479 boe/d), while Mexico accounted for approximately 0.3% (372 boe/d). These percentages are calculated from reported production figures; the company’s formal segment reporting does not provide separate revenue or profit contributions by geography. [2025 Form 20-F](https://www.sec.gov/Archives/edgar/data/1762506/000119312526306139/d151775dex1.htm)
[19](https://app.finbar.com/go?id=P150735065)[20](https://app.finbar.com/go?id=T17283410)[20](https://app.finbar.com/go?id=T17283410)[20](https://app.finbar.com/go?id=T17283410)[21](https://www.sec.gov/Archives/edgar/data/1762506/000119312526306139/d151775dex1.htm)

## Company history

Vista Energy was incorporated in Mexico on 22 March 2017 as Vista Oil & Gas, S.A.B. de C.V., a special-purpose acquisition company formed to acquire energy businesses. Its shares were placed on the Mexican Stock Exchange in August 2017, in the exchange’s first SPAC offering. [22](https://www.sec.gov/Archives/edgar/data/1762506/000119312526032639/d37728d6k.htm)[23](https://www.bmv.com.mx/docs-pub/SALA_PRENSA/CTEN_BOLE/Vista%20Oil_Primer%20SPAC%20en%20BMV.%2011.08.17%20%28ing%29.pdf)

In 2018, Vista moved into operations by acquiring Argentine oil and gas assets from Pampa Energía and Pluspetrol, establishing its initial operating platform in the country. The Pampa transaction closed on 4 April 2018 and included its 58.88% direct interest in Petrolera Entre Lomas and related assets. [24](https://www.prnewswire.com/news-releases/vista-oil--gas-to-acquire-argentine-oil--gas-assets-300600883.html)[25](https://ri.pampa.com/en/press-release/closing-of-the-sale-to-vista/) In 2019, the first four-well pad at Bajada del Palo Oeste was tied in, and Vista’s American depositary shares began trading on the New York Stock Exchange on 26 July. [26](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_944500_1.pdf)[27](https://app.finbar.com/go?id=P150732900)

Vista expanded its interests in Argentina’s Vaca Muerta region through acquisitions in Aguada Federal and Bandurria Norte in 2021–22; in 2022, shareholders approved changing the parent company’s name to Vista Energy. [28](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1128493_1.pdf)[29](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1157879_1.pdf)[30](https://app.finbar.com/go?id=P150716864) In April 2025, it acquired the company holding a 50% working interest in La Amarga Chica; in February 2026, it agreed to an additional transaction involving interests in Bandurria Sur and Bajo del Toro. [31](https://app.finbar.com/go?id=P150732011)[32](https://app.finbar.com/go?id=P150731937)
[22](https://www.sec.gov/Archives/edgar/data/1762506/000119312526032639/d37728d6k.htm)[23](https://www.bmv.com.mx/docs-pub/SALA_PRENSA/CTEN_BOLE/Vista%20Oil_Primer%20SPAC%20en%20BMV.%2011.08.17%20%28ing%29.pdf)[24](https://www.prnewswire.com/news-releases/vista-oil--gas-to-acquire-argentine-oil--gas-assets-300600883.html)[25](https://ri.pampa.com/en/press-release/closing-of-the-sale-to-vista/)[26](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_944500_1.pdf)[27](https://app.finbar.com/go?id=P150732900)[28](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1128493_1.pdf)[29](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1157879_1.pdf)[30](https://app.finbar.com/go?id=P150716864)[31](https://app.finbar.com/go?id=P150732011)[32](https://app.finbar.com/go?id=P150731937)[22](https://www.sec.gov/Archives/edgar/data/1762506/000119312526032639/d37728d6k.htm)[23](https://www.bmv.com.mx/docs-pub/SALA_PRENSA/CTEN_BOLE/Vista%20Oil_Primer%20SPAC%20en%20BMV.%2011.08.17%20%28ing%29.pdf)[24](https://www.prnewswire.com/news-releases/vista-oil--gas-to-acquire-argentine-oil--gas-assets-300600883.html)[25](https://ri.pampa.com/en/press-release/closing-of-the-sale-to-vista/)[26](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_944500_1.pdf)[28](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1128493_1.pdf)[29](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1157879_1.pdf)

## Sources

1. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17283321)
2. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17283345)
3. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150731173)
4. [www.vistaenergy.com](https://www.vistaenergy.com/en/about-us)
5. [www.vistaenergy.com](https://www.vistaenergy.com/en/operations)
6. [www.vistaenergy.com](https://www.vistaenergy.com/en)
7. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17283398)
8. [www.vistaenergy.com](https://www.vistaenergy.com/en/sustainability/people)
9. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17283414)
10. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150732773)
11. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150731983)
12. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150731986)
13. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150732662)
14. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150731992)
15. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150732294)
16. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150734415)
17. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150733091)
18. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150733079)
19. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150735065)
20. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17283410)
21. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1762506/000119312526306139/d151775dex1.htm)
22. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1762506/000119312526032639/d37728d6k.htm)
23. [www.bmv.com.mx](https://www.bmv.com.mx/docs-pub/SALA_PRENSA/CTEN_BOLE/Vista%20Oil_Primer%20SPAC%20en%20BMV.%2011.08.17%20%28ing%29.pdf)
24. [www.prnewswire.com](https://www.prnewswire.com/news-releases/vista-oil--gas-to-acquire-argentine-oil--gas-assets-300600883.html)
25. [ri.pampa.com](https://ri.pampa.com/en/press-release/closing-of-the-sale-to-vista/)
26. [www.bmv.com.mx](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_944500_1.pdf)
27. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150732900)
28. [www.bmv.com.mx](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1128493_1.pdf)
29. [www.bmv.com.mx](https://www.bmv.com.mx/docs-pub/eventemi/eventemi_1157879_1.pdf)
30. [Vista Energy, S.A.B. de C.V. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P150716864)
31. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150732011)
32. [Vista Energy, S.A.B. de C.V. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P150731937)

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