Company: VIST
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001193125-25-076856
Chunk: 34

Company: Vista Energy, S.A.B. de C.V.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 5
Chunk 34
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 contributed 5.8% of our total revenues and NGL sales contributed 0.5% of our total revenues. During 2024, 2023 and 2022, most of our revenues were generated in Argentina. 
 Our sales volumes impact directly our results of operations. As reservoir pressure declines, production from a given well, or group of wells, in a formation decreases. Growth in our future production and reserves will depend on the development of our acreage and the corresponding capital expenditure, which will determine our ability to add proved reserves in excess of our production. Accordingly, we plan to maintain our focus on adding reserves by further drilling our shale oil acreage in Vaca Muerta. Our ability to add reserves through acquisitions is dependent on many factors, including prevailing market conditions and our ability to raise capital, obtain regulatory approvals, procure drilling rigs and personnel and successfully identify and consummate acquisitions. 
 Our business is inherently volatile due to the influence of external factors, such as domestic and international demand, market prices, availability of financial resources for our business plan and its corresponding costs and government regulations. Consequently, our past financial condition, results of operations and the trends indicated by such results and financial condition may not be indicative of current or future financial conditions, results of operations or trends. 
 We sell our oil and gas to many creditworthy purchasers. Since our production is sold in the commodities market, where several customers or markets are accessible to us, we do not believe the loss of any customer would have a material adverse effect on our business. 
 Production Results and Other Operating Data 
 The following table sets forth summary unaudited information about the oil and natural gas historical production volumes and other relevant operating and financial data of the assets we own in Argentina and Mexico. For the year ended December 31, 2024, the historical production volumes and other relevant operating data included below were calculated at their respective working interest percentages. Royalties payable to the Provinces have not been deducted from our net production amounts given that substantially all of our production is currently in Argentina and under Argentine law royalties constitute a production tax payable in cash (and do not give the Provinces a direct interest in such production to make lifting and sales arrangements independently). We account for royalties as cost of sales. 

                                                                                    As of the year ended December 31
                                           2024                      2023                        2022               
Net production volumes(1):                                                                                          
Oil (MMbbl)                                             22.1                        15.8                        14.6
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