Vista to invest $5.6 billion in Argentina through 2028

Vista Energy, whose operations are concentrated in Argentina’s Vaca Muerta unconventional shale formation, announced plans to invest $5.6 billion in the South American country through 2028.

The company said in a statement that it expects to invest $5.6 billion between 2026 and 2028 to reach production of 208,000 barrels of oil equivalent per day by 2028.

Of that total, Vista plans to invest $1.8 billion this year.

Vista, chaired by Argentine executive Miguel Galuccio, focuses its operations on Vaca Muerta, where it has invested around $6.89 billion to date, and remains Argentina’s second-largest unconventional oil producer.

Its total hydrocarbon production during the first quarter of this year averaged 134,741 barrels of oil equivalent per day, a 67% increase year-on-year.

The company, whose shares are listed on the New York and Mexican stock exchanges, completed the acquisition of Vaca Muerta assets from Norway’s Equinor last week.

The $712 million acquisition from Equinor included a 25.1% stake in the Bandurria Sur block and a 35% stake in the Bajo del Toro block.

“The recent addition of assets has given Vista greater scale: it allows us to make a significant leap in production, exports, and development capacity in Vaca Muerta,” Galuccio said in a statement.