VIST Filings — Vista Energy, S.a.b. De C.v.

VIST Filings — Vista Energy, S.a.b. De C.v. - FilingSpy

20-F · Fiscal year ended Dec 31, 2025 · SEC filing ↗

Vista Energy doubled operating profit in 2025, driven by a $490.5 million acquisition gain and a 66% increase in oil production.

Vista Energy transformed its scale in 2025 with the La Amarga Chica Acquisition. rose 50% to $2.47 billion and doubled to $1.25 billion, though the result was heavily shaped by a $490.5 million one-time gain, while total debt more than doubled to $3.15 billion to fund the deal. The company is now a much larger producer, but the quality of earnings and the weight of new debt will define the next chapter.

Key takeaways

doubled to $1,250.8 million, but the increase was driven by a $490.5 million on the La Amarga Chica Acquisition recorded in other operating income; without it, operating profit would have been roughly flat .
Oil production rose 66% following the La Amarga Chica Acquisition and the tie-in of 50 new shale wells, pushing total up 50% to $2,474.2 million despite a 9% decline in the average realized oil price to $62.90 per barrel.

Section summaries

Quantitative and Qualitative Disclosures About Market Risk

Our activities are exposed to market risk, including the exchange rate risk, the interest rate risk and the price risk. Financial risks are those derived from financial instruments we are exposed to during or at the closing of each fiscal year. Risk management systems and policies are reviewed on a regular basis to reflect changes in market conditions and our activities, with a focus not placed on the individual risks of the business units’ operations, but with a wider perspective focused on monitoring risks affecting the whole portfolio. Financial risk management is controlled by the Financial Department, which identifies, evaluates and covers financial risks. Our risk management strategy seeks to achieve a balance between profitability targets and risk exposure levels. For further information on our market risks, please see Note 17.6.1.1 to our Audited Financial Statements.

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Risk Factors

Key risks include Argentine economic/political instability, oil price volatility, energy transition pressures, and operational concentration in Vaca Muerta.

VIST

VIST

Vista Energy doubled operating profit in 2025, driven by a $490.5 million acquisition gain and a 66% increase in oil production.

Key takeaways

Section summaries

Quantitative and Qualitative Disclosures About Market Risk

Risk Factors

What changed

What to watch

Business

Management's Discussion and Analysis