Business Context and Reporting Period
Vista Oil & Gas, S.A.B. de C.V. filed this Form 6-K on August 6, 2019, for the month of August 2019. The filing is an announcement regarding the release of the company’s unaudited second-quarter 2019 results, not the results themselves.
Vista is an independent Latin American oil and gas company operating since April 4, 2018. It owns conventional producing assets in Argentina and Mexico, with most production, revenue, drilling, workover activity, proved reserves, and assets located in Argentina. The company also holds approximately 134,000 net acres in Argentina’s Vaca Muerta shale play.
Financial and Operating Metrics
- The filing does not provide second-quarter 2019 revenue, profit, cash flow, margins, debt, liquidity, production, reserves, or other financial results.
- Vista stated that its assets are characterized as high-quality, low-operating-cost, and high-margin conventional producing assets.
- As of March 31, 2019, Vista reported that it was the sixth-largest oil producer in Argentina, according to the Argentine Secretariat of Energy.
Material Changes Versus the Prior Comparable Period
The filing does not provide financial or operating comparisons with the second quarter of 2018 or any other prior comparable period.
Guidance, Outlook, Risks, and Unusual Items
- Vista planned to release its unaudited second-quarter 2019 results after market close on August 7, 2019.
- Management planned to present the results through a webcast on August 8, 2019, at 9:00 a.m. EST, with access through the company’s investor website.
- The company’s stated strategy is to use cash flow from conventional assets to develop its Vaca Muerta shale acreage and increase recovery from operated conventional assets in Argentina.
- The filing contains customary forward-looking statement disclosures. Actual results may differ materially because of known and unknown risks and uncertainties described in Vista’s SEC and Mexican regulatory filings.
- No unusual transactions, contingencies, debt changes, or other material events are disclosed in the provided text.
Investor Verification Items
- Obtain and review the unaudited second-quarter 2019 results released on August 7, 2019.
- Verify production volumes, realized prices, revenue, margins, operating costs, capital expenditures, cash flow, debt, and liquidity.
- Assess progress and capital requirements for Vaca Muerta development and conventional-asset recovery initiatives.
- Review the company’s applicable risk factors and forward-looking statements in its SEC and Mexican regulatory filings.