Company: VIST
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001193125-25-076856
Chunk: 73

Company: Vista Energy, S.A.B. de C.V.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 73
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For more detail on the midstream infrastructure network in Argentina, see “ - Industry and Regulatory Overview - Oil and Gas Regulatory Framework in Argentina - Oil Midstream and Downstream.”

Delivery Commitments

We are committed to providing fixed and determinable quantities of crude oil, natural gas and NGL in the near future under a variety of contractual arrangements, some of them under firm arrangements and others on a spot basis.

As of December 31, 2024, 21% of our oil production was subject to monthly delivery commitments in the domestic market and 11% of our oil production was subject to delivery commitments in the international markets. According to our estimates, as of December 31, 2024, our contractual delivery commitments, could be met with our own production.

Table of Contents

For natural gas, in April 2024 we signed annual commitments for the period May 2024 to April 2025, which added to the commitments already assumed with the Plan GasAr until 2028 representing approximately 90% of our marketable total production, with seasonal pricing arrangements. The remainder is sold to the spot market. The annual commitments for the period May 2025 to April 2026 are expected to be signed by the end of April 2025.

For LPG, our Propane production was not subject to delivery commitments during 2024. Regarding Butane we deliver under a National Decree approximately 75% of our annual production to guarantee local LPG cylinders demand for residential consumers.

Customers and Marketing

Oil Markets

In Argentina, our crude oil production was sold both to domestic refineries and exported during 2024, 2023 and 2022. During 2024, we exported 49% of our oil sales volumes, compared to 52% in 2023 and 44% in 2022. During 2024, 68% of our oil sales volumes were sold at export parity, combining sales to international buyers and domestic buyers paying export-parity prices, compared to 57% during 2023. In the past three years, our main domestic customers were Raizen and Trafigura. Approximately 99% of our oil is produced in the Neuquina Basin and is referred to as Medanito crude oil, a light sweet crude oil generally demanded by Argentine refiners in the domestic market, as well as by international refiners. Production from our Neuquina Basin properties is transported to Puerto Rosales, a major industrial port in the southern region of the Province of