Company: VIST
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001193125-25-076856
Chunk: 99

Company: Vista Energy, S.A.B. de C.V.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 10
Chunk 99
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 implies that we will be unable to develop such reserves within five years of their initial booking.

During the year ended December 31, 2024, we made total capital expenditures of US$1,296.8 million. During the year ended December 31, 2023, we made total capital expenditures of US$734.3 million. During the year ended December 31, 2022, we made total capital expenditures of US$540.0 million.

As part of the terms and conditions governing the concession agreements relating to our oil and gas properties in Argentina, we are committed to making capital investments for drilling and completing wells, performing well workovers and investing in facilities. We have estimated the amount of capital expenditures required to comply with our commitments under such concessions based on the historical costs of drilling and completing wells, performing well workovers and investing in facilities.

According to our best estimates, as of the date of this annual report, our remaining investment commitments include drilling and completing nine development wells, executing 44 workovers, and abandoning 21 wells in Entre Lomas, 25 de Mayo - Medanito SE, and Jagüel de los Machos.

Pursuant to the Conventional Assets Transaction agreement, Aconcagua has assumed all past investment commitments, along with the associated costs, taxes, and royalties related to the CAT Exploitation Concessions.

Capital expenditures related to these commitments amount to an estimated US$40 million. For more information on these investment commitments, see Note 29 to our Audited Financial Statements.

Table of Contents

Cash Flows

The following table sets forth our cash flows for the periods indicated:

 ────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash flows provided by (used in)                                                                  
  Operating activities                                         959,026       712,033       689,771  
  Investing activities                                      (1,051,876      (699,313      (582,712  
  Financing activities                                         641,211        19,556      (143,201  
  Net increase (decrease) in cash and cash equivalents         548,361        32,276       (36,142  

The ability of our Argentine entities to purchase non-Argentinecurrency in Argentina and to transfer any funds in the form of dividends, loans or advances to any non-Argentineentities (including affiliates) is subject to certain foreign exchange restrictions, as further described in “ Item 3 - Key Information - Risk Factors -