Company: VIST
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001193125-25-076856
Chunk: 53

Company: Vista Energy, S.A.B. de C.V.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 5
Chunk 53
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115 

 During the year ended December 31, 2023, 99% of our revenue was generated by our oil and gas properties in Argentina, as well as during the year ended December 31, 2022. 
 Cost of Sales 
 

                                                                      For the year ended                  For the year ended       
                                                                      December 31, 2023                   December 31, 2022        
                                                                      (in thousands of US$)                                        
Operating costs                                                                     (94,685   )                        (133,385   )
Crude oil stock fluctuation                                                          (2,058   )                            (500   )
Depreciation, depletion and amortization                                           (276,430   )                        (234,862   )
Royalties and others                                                               (176,813   )                        (188,677   )
Other non-cash costs related to the transfer of conventional assets                 (27,539   )                               —    
Cost of sales                                                                      (577,525   )                        (557,424   )
 Cost of sales increased to US$577.5 million during the year ended December 31, 2023, compared to US$557.4 million during the year ended December 31, 2022. Total cost of sales included operating costs, fluctuations in the inventory of crude oil, depreciation, depletion and amortization, royalties and others, and other non-cash costs related to the transfer of conventional assets. 
 Operating costs decreased to US$94.7 million during the year ended December 31, 2023, compared to US$133.4 during the year ended December 31, 2022, which represented 16% and 24% of our total cost of sales, respectively. Operating costs per produced barrel decreased to US$5.1/boe during the year ended December 31, 2023, from US$7.5/boe during the year ended December 31, 2022. This decrease was primarily driven by the savings generated by the Conventional Assets Transaction to fully-focus on shale oil operations as of March 1, 2023, economies of scale driven by production volume growth, and focus on cost efficiency. 
 The crude oil stock fluctuation increased to US$2.1 million during the year ended December 31, 2023, compared to US$0.5 million during the year ended December 31, 2022. This was primarily due to the decrease in crude oil stock at the end of the period. 
 Depreciation, depletion