Vista Energy, S.A.B. de C.V. (NYSE:VIST) Q4 2022 Earnings Call Transcript

Miguel Galuccio: For us, I mean, again, as I mentioned before, for 2023, the main thing, it’s a year where we are going to fulfill the full capacity that we have and the industry have, leaving the year with very high matter of 60,000 barrels oil per day, and that is as much as we can do. Then 2024 is different because with OldelVal delivering 40% of the capacity, that is — that they are executing today, it will be more of playing how much cash we will generate and how much CapEx of that cash we want to pump in traditional activity. As I said before it’s not unthinkable that we increase activity to 2 rigs that is going from 30 wells to 40 wells. And then we will have less to invest in facilities. So if you want to model, you can continue model in a medium case that we will still having a CapEx of around $600 million, but with more activity. Of course, we can go further than that. It’s not in the plan today, it’s not something that today we can say that we will do.

Operator: Thank you. I would now like to turn the conference back to Miguel Galuccio for closing remarks.

Miguel Galuccio: Thank you very much for your participation. We are closing a very good 2022 and starting with a great M&A transaction that put Vista in a better place in terms of being fully unconventional player with better numbers, with better lifting costs, with better margins. And we are looking forward to execute and deliver on our promise also in this 2023. So, thank you very much for participating and looking forward to see you again next quarter.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.