Vista Energy has reached an agreement with Trafigura Argentina to invest in the Vaca Muerta oil project in Argentina.

In 2021, the two firms formed a joint venture (JV) to develop 20 wells in Vista’s main oil development concession in the Vaca Muerta shale reserves.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Under the new investment deal, the firms will develop three pads, or oil well zones, on Vista’s Bajada del Palo Oeste concession.

According to Reuters, the two firms will invest $150m in the Vaca Muerta basin.

Trafigura will have a right over 25% of the production of the pads covered under the agreement, and will also incur 25% of the development costs.

See Also:

Vista will contribute 75% of the total costs and will retain 75% of rights over the hydrocarbon production.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vista and Trafigura have also extended their prior crude and oil purchase agreement by 12 months.

Under this agreement, Vista will sell 380,000 barrels of crude per month to Trafigura during the first half of 2023, and 345,000 per month during the second half.

Vista expects the deal to help in generating the funds needed to accelerate its investment in infrastructure at Vaca Muerta, reduce debt, and return capital to shareholders through dividends or buy-backs.

In a press statement, Vista said: “The agreement allows the company to further consolidate its relationship with Trafigura as a strategic partner.”

As of the end of 2021, Vista’s Bajada del Palo Oeste development had proved reserves of approximately 155 million barrels of oil equivalent.

To reduce costly imports, Argentina is considering boosting production at the Vaca Muerta shale formation, reported Reuters.