The numbers for the third quarter
Vista Energy, a key player in the takeoff of shale oil production in Argentina, released its figures for the third quarter of 2025, highlighting significant growth in extraction and a 6% optimization in its lifting cost , which reinforces its efficiency strategy in unconventional fields.
Under the leadership of Miguel Galuccio , the firm consolidated its progress thanks to the high productivity of newly drilled wells in Bajada del Palo Oeste and La Amarga Chica, along with a management focused on operational profitability.
During this period, the company's consolidated production reached 126,800 barrels of oil equivalent per day (boe/d) , representing a 7% increase compared to the previous quarter and a 74% year-on-year increase. As for crude oil, output was 109,700 barrels per day, with a 7% quarter-on-quarter increase and a 73% increase compared to the same period in 2024.
Adjusted EBITDA rose to $472 million, reflecting a 17% increase over the previous quarter and a 52% increase year-over-year.
Sustained cost reduction in Vaca Muerta operations
The lifting cost, which measures operating expenses per barrel extracted, stood at $4.4 per boe, a 6% decrease compared to last year, demonstrating continued progress in optimizing development activities.
Total revenue reached $706 million, 16% higher than in the second quarter of 2025 and 53% higher than in the same period of 2024.
Investments totaled $351 million , primarily allocated to activating new wells during the quarter. Net income, crucial in this phase of shale oil expansion in the Neuquén Basin, reached $315 million, with earnings per share of $3.00.
At the end of the quarter, net leverage stood at 1.5 times, according to the pro forma basis reported by the company.