In today’s briefing:
- Vista Energy: Strong Reserves Growth Continues

Vista Energy: Strong Reserves Growth Continues
- We continue to prefer Vista for investors seeking exposure to Argentina’s energy sector. We believe stronger operational performance and a reduction in country risk could drive bond outperformance.
- P1 reserves grew by 56.7 MMboe, or 17.8% YoY, to 375.2 MMboe, resulting in a reserves replacement ratio of 323% and a reserve life of 14.7 years.
- Total production increased 17.1% QoQ to 85.3 kbpd in 4Q24, up from 72.8 kbpd in 3Q24. This growth was primarily driven by a 15.7% sequential increase in crude oil production.
