Expanding production capacity over the next five years
Vista Energy said it plans to spend more than $4.5 billion in Argentina's Vaca Muerta shale formation in an effort to raise production; Vista already is Argentina's second-largest shale producer and has invested heavily in Vaca Muerta.
The plan is part of the energy producer's new growth strategy targeting a 50% increase in shale oil production by 2030, rising from 130,000 boe/day in H2 2025 to more than 200,000 boe/day by the end of the decade.
During its capital markets day, Vista outlined plans to generate $1.5 billion in cumulative free cash flow during 2026-28, supported by improvements in operational efficiency and ongoing cost optimization initiatives.
"Part of gaining competitiveness is economies of scale,” Chief Executive Officer Miguel Galuccio told analysts at an investor event in Buenos Aires, citing Argentina’s rig count, which is more than 10 times lower than in the U.S. “But another comes from regulations and taxes — there’s a lot of discussion going on around that.”
“Anything we can do to become more competitive will translate to more production, exports and proceeds for the country,” Galuccio said. “It’s a win-win.”
Vista outlined its five-year growth strategy at the event, targeting output of over 200,000 barrels of oil equivalent per day by 2030 — nearly double its current 114,000 boe/d. Executives stressed that the plan remains resilient even if Brent crude prices fall to $60 per barrel, underscoring confidence in operational efficiency and cost control.
Among other takeaways, Galuccio said Vista expects steady demand from developing economies to keep Brent prices near $70 in the coming years. Current pipeline expansions, he added, will be sufficient to handle the company’s projected production surge.