Cover Page
Cover Page - shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Document Information [Line Items] | |||
Document Type | 20-F | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2023 | ||
Entity Registrant Name | Vista Energy, S.A.B. de C.V. | ||
Entity Central Index Key | 0001762506 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Entity File Number | 001-39000 | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Well-known Seasoned Issuer | Yes | ||
Current Fiscal Year End Date | --12-31 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Shell Company Report | false | ||
Entity Shell Company | false | ||
Entity Address, Country | MX | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Incorporation, State or Country Code | O5 | ||
Entity Address, Address Line One | Pedregal 24, Floor 4 | ||
Entity Address, Address Line Two | Colonia Molino del Rey | ||
Entity Address, Address Line Three | Alcaldía Miguel Hidalgo | ||
Entity Address, City or Town | Mexico City | ||
Entity Address, Postal Zip Code | 11040 | ||
Document Registration Statement | false | ||
Document Accounting Standard | International Financial Reporting Standards | ||
Auditor Name | Pistrelli, Henry Martin yAsociados S.R.L.(member of Ernst &Young Global Limited) | Mancera, S.C.(member of Ernst &Young Global Limited) | Mancera, S.C.(member of Ernst &Young Global Limited) |
Auditor Firm ID | 1449 | 1284 | 1284 |
Auditor Location | Ciudad de Buenos Aires,Argentina | Ciudad de Mexico,Mexico | Ciudad de Mexico,Mexico |
Entity Common Stock, Shares Outstanding | 95,355,430 | ||
Document Financial Statement Error Correction [Flag] | false | ||
Business Contact [Member] | |||
Document Information [Line Items] | |||
Entity Address, Country | MX | ||
Entity Address, Address Line One | Pedregal 24, Floor 4 | ||
Entity Address, Address Line Two | Colonia Molino del Rey | ||
Entity Address, Address Line Three | Alcaldía Miguel Hidalgo | ||
Entity Address, City or Town | Mexico City | ||
Entity Address, Postal Zip Code | 11040 | ||
Contact Personnel Name | Alejandro Cherñacov | ||
Local Phone Number | 8647-0128 | ||
City Area Code | + 52 (55) | ||
Series A Shares [Member] | |||
Document Information [Line Items] | |||
Trading Symbol | VISTA | ||
Title of 12(b) Security | Series A Shares | ||
Security Exchange Name | NYSE | ||
Series C Shares [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 2 | ||
ADS [Member] | |||
Document Information [Line Items] | |||
Trading Symbol | VIST | ||
Title of 12(b) Security | American Depositary Shares, each representing 1 Series A share, with no par value | ||
Security Exchange Name | NYSE |
Consolidated statements of prof
Consolidated statements of profit or loss and other comprehensive income $ in Thousands, € in Millions | 12 Months Ended | ||
Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | |
Statement [Line Items] | |||
Revenue from contracts with customers | $ 1,168,774 | $ 1,187,660 | $ 665,310 |
Cost of sales: | |||
Operating costs | (94,685) | (133,385) | (107,123) |
Crude oil stock fluctuation | (2,058) | (500) | (905) |
Depreciation, depletion and amortization | (276,430) | (234,862) | (191,313) |
Royalties and others | (176,813) | (188,677) | (99,364) |
Other non-cash costs related to the transfer of conventional assets | (27,539) | 0 | 0 |
Gross profit | 591,249 | 630,236 | 266,605 |
Selling expenses | (68,792) | (59,904) | (42,748) |
General and administrative expenses | (70,483) | (63,826) | (45,858) |
Exploration expenses | (16) | (736) | (561) |
Other operating income | 203,812 | 26,698 | 23,285 |
Other operating expenses | 302 | (3,321) | (4,214) |
(Impairment) reversal of long- lived assets | (24,585) | 0 | 14,044 |
Operating profit | 631,487 | 529,147 | 210,553 |
Interest income | 1,235 | 809 | 65 |
Interest expense | (21,879) | (28,886) | (50,660) |
Other financial income (expense) | (65,484) | (67,556) | (7,194) |
Financial income (expense), net | (86,128) | (95,633) | (57,789) |
Profit before income tax | 545,359 | 433,514 | 152,764 |
Current income tax (expense) | (16,393) | (92,089) | (62,419) |
Deferred income tax (expense) | (132,011) | (71,890) | (39,695) |
Income tax (expense) | (148,404) | (163,979) | (102,114) |
Profit for the year, net | 396,955 | 269,535 | 50,650 |
Other comprehensive income that shall not be reclassified to profit (loss) in subsequent periods | |||
- Profit (loss) from actuarial remeasurement related to employee benefits | 6,565 | (4,181) | (4,513) |
- Deferred income tax (expense) benefit | (2,298) | 1,463 | 2,048 |
Other comprehensive income that shall not be reclassified to profit (loss) in subsequent years, net of taxes | 4,267 | (2,718) | (2,465) |
Total comprehensive profit for the year | $ 401,222 | $ 266,817 | $ 48,185 |
Earnings per share | |||
Basic (in US Dollars per share) | $ / shares | $ 4.237 | $ 3.068 | $ 0.574 |
Diluted (in US Dollars per share) | $ / shares | $ 4 | $ 2.755 | $ 0.543 |
Consolidated statements of fina
Consolidated statements of financial position - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Noncurrent assets | ||
Property, plant and equipment | $ 1,927,759 | $ 1,606,339 |
Goodwill | 22,576 | 28,288 |
Other intangible assets | 10,026 | 6,792 |
Right-of-use-assets | 61,025 | 26,228 |
Investments in associates | 8,619 | 6,443 |
Trade and other receivables | 136,351 | 15,864 |
Deferred income tax assets | 5,743 | 335 |
Total noncurrent assets | 2,172,099 | 1,690,289 |
Current assets | ||
Inventories | 7,549 | 12,899 |
Trade and other receivables | 205,102 | 90,406 |
Cash, bank balances and other short-term investments | 213,253 | 244,385 |
Total current assets | 425,904 | 347,690 |
Total assets | 2,598,003 | 2,037,979 |
Equity | ||
Capital stock | 517,874 | 517,873 |
Other equity instruments | 32,144 | 32,144 |
Legal reserve | 8,233 | 2,603 |
Share-based payment | 42,476 | 40,744 |
Share repurchase reserve | 79,324 | 49,465 |
Other accumulated comprehensive income (losses) | (4,427) | (8,694) |
Accumulated profit (losses) | 571,391 | 209,925 |
Total equity | 1,247,015 | 844,060 |
Noncurrent liabilities | ||
Deferred income tax liabilities | 383,128 | 243,411 |
Lease liabilities | 35,600 | 20,644 |
Provisions | 12,339 | 31,668 |
Borrowings | 554,832 | 477,601 |
Employee benefits | 5,703 | 12,251 |
Total noncurrent liabilities | 991,602 | 785,575 |
Current liabilities | ||
Provisions | 4,133 | 2,848 |
Lease liabilities | 34,868 | 8,550 |
Borrowings | 61,223 | 71,731 |
Salaries and payroll taxes | 17,555 | 25,120 |
Income tax liability | 3 | 58,770 |
Other taxes and royalties | 36,549 | 20,312 |
Trade and other payables | 205,055 | 221,013 |
Total current liabilities | 359,386 | 408,344 |
Total liabilities | 1,350,988 | 1,193,919 |
Total equity and liabilities | $ 2,598,003 | $ 2,037,979 |
Consolidated statements of chan
Consolidated statements of changes in equity - USD ($) $ in Thousands | Total | Share Capital | Other equity instruments | Legal reserve | Legal reserve Ordinary and Extraordinary General Shareholders Meeting on April26, 2022 [Member] | Legal reserve Ordinary and Extraordinary General Shareholders Meeting on December7, 2022 [Member] | Legal reserve Ordinary and Extraordinary General Shareholders Meeting on April 24, 2023 [Member] | Share-based payment | Share repurchase reserve | Share repurchase reserve Ordinary and Extraordinary General Shareholders Meeting on April26, 2022 [Member] | Share repurchase reserve Ordinary and Extraordinary General Shareholders Meeting on December7, 2022 [Member] | Share repurchase reserve Ordinary and Extraordinary General Shareholders Meeting on April 24, 2023 [Member] | Other accumulated comprehensive income (losses) | Accumulated profit (losses) | Accumulated profit (losses) Ordinary and Extraordinary General Shareholders Meeting on April26, 2022 [Member] | Accumulated profit (losses) Ordinary and Extraordinary General Shareholders Meeting on December7, 2022 [Member] | Accumulated profit (losses) Ordinary and Extraordinary General Shareholders Meeting on April 24, 2023 [Member] | |||||
Beginning Balance at Dec. 31, 2020 | $ 508,518 | $ 659,400 | $ 23,046 | $ (3,511) | $ (170,417) | |||||||||||||||||
Profit/Loss for the year | 50,650 | 50,650 | ||||||||||||||||||||
Other comprehensive income for the year | (2,465) | (2,465) | ||||||||||||||||||||
Total comprehensive profit for the year | 48,185 | (2,465) | 50,650 | |||||||||||||||||||
Reduction of capital stock | 72,695 | (72,695) | [1] | 72,695 | [1] | |||||||||||||||||
Share-based payments | [2] | 8,556 | 1 | 8,555 | ||||||||||||||||||
Ending Balance at Dec. 31, 2021 | 565,259 | 586,706 | 31,601 | (5,976) | (47,072) | |||||||||||||||||
Profit/Loss for the year | 269,535 | 269,535 | ||||||||||||||||||||
Other comprehensive income for the year | (2,718) | (2,718) | ||||||||||||||||||||
Total comprehensive profit for the year | 266,817 | (2,718) | 269,535 | |||||||||||||||||||
Creation of legal reserve | [3] | $ 1,255 | $ 1,348 | $ (1,255) | $ (1,348) | |||||||||||||||||
Creation of share repurchase reserve | [3] | $ 23,840 | $ 25,625 | $ (23,840) | $ (25,625) | |||||||||||||||||
Reduction of capital stock | 39,530 | (39,530) | [1] | 39,530 | [1] | |||||||||||||||||
Cashless exercises of warrants | [1] | 32,144 | $ 32,144 | [4] | ||||||||||||||||||
Share repurchase | [1] | (29,304) | (29,304) | |||||||||||||||||||
Share-based payments | 9,144 | 1 | 9,143 | [5] | ||||||||||||||||||
Ending Balance at Dec. 31, 2022 | 844,060 | 517,873 | 32,144 | $ 2,603 | 40,744 | $ 49,465 | (8,694) | 209,925 | ||||||||||||||
Profit/Loss for the year | 396,955 | 396,955 | ||||||||||||||||||||
Other comprehensive income for the year | 4,267 | 4,267 | ||||||||||||||||||||
Total comprehensive profit for the year | 401,222 | 4,267 | 396,955 | |||||||||||||||||||
Creation of legal reserve | [3] | $ 5,630 | $ (5,630) | |||||||||||||||||||
Creation of share repurchase reserve | [3] | $ 29,859 | $ (29,859) | |||||||||||||||||||
Share-based payments | 1,733 | 1 | 1,732 | [6] | ||||||||||||||||||
Ending Balance at Dec. 31, 2023 | $ 1,247,015 | $ 517,874 | $ 32,144 | $ 8,233 | $ 42,476 | $ 79,324 | $ (4,427) | $ 571,391 | ||||||||||||||
[1]See Note 21.1.[2]Including 10,592 of share-based payments for the year ended December 31, 2021 (Note 8), net of tax charges.[3]See Note 21.2.[4]Including 32,894 of cashless exercise of warrant (Note 18.3 and 18.5.1), net of 750 related to expenses.[5]Including 16,576 share-based payments (Note 8), net of tax charges.[6]Including 23,133 share-based payments (Note 8), net of tax charges. |
Consolidated statements of ch_2
Consolidated statements of changes in equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of changes in equity [abstract] | |||
Share-based payments | $ 23,133 | $ 16,576 | $ 10,592 |
Cashless exercise of warrant | $ 32,894 | 0 | $ 0 |
Cashless exercise of warrant issuance costs | $ 750 |
Consolidated statements of cash
Consolidated statements of cash flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Cash flows from operating activities | ||||
Profit for the year, net | $ 396,955 | $ 269,535 | $ 50,650 | |
Items related to operating activities: | ||||
Other non-cash costs related to the transfer of conventional assets | 27,539 | |||
(Reversal of) allowance for expected credit losses | 0 | (36) | 406 | |
Share-based payments | 23,133 | 16,576 | 10,592 | |
Net (decrease) increase in provisions | (578) | 2,790 | 1,930 | |
Net changes in foreign exchange rate | (18,458) | (33,263) | (14,328) | |
Discount for well plugging and abandonment | 2,387 | 2,444 | 2,546 | |
Interest expense on lease liabilities | 2,894 | 1,925 | 1,079 | |
Discount of assets and liabilities at present value | (2,137) | 2,561 | 2,300 | |
Income tax expense | 148,404 | 163,979 | 102,114 | |
Employee benefits | 300 | 502 | 247 | |
Items related to investing activities: | ||||
Gain related to the transfer of conventional assets | (89,659) | |||
Impairment (Reversal) of long-lived assets | 24,585 | (14,044) | ||
Gain from farmout agreement | (24,429) | (18,218) | (9,050) | |
Interest income | (1,235) | (809) | (65) | |
Changes in the fair value of financial assets | (19,437) | 17,599 | (5,061) | |
Depreciation and depletion | 272,371 | 231,746 | 187,858 | |
Amortization of intangible assets | 4,059 | 3,116 | 3,455 | |
Gain from assets disposal | 0 | 0 | (9,999) | |
Items related to financing activities: | ||||
Interest expense | 21,879 | 28,886 | 50,660 | |
Changes in the fair value of warrants | 0 | 30,350 | 2,182 | |
Amortized cost | 1,810 | 2,365 | 4,164 | |
Remeasurement in borrowings | 72,044 | 52,817 | 19,163 | |
Other financial income (expense) | 26,381 | (9,242) | (4,851) | |
Changes in working capital: | ||||
Trade and other receivables | (81,260) | (34,515) | 12,326 | |
Inventories | 2,058 | 500 | 905 | |
Trade and other payables | 61,230 | 40,183 | 16,209 | |
Payments of employee benefits | (283) | (254) | (399) | |
Salaries and payroll taxes | (26,441) | 2,877 | 3,929 | |
Other taxes and royalties | (43,507) | (8,024) | (7,311) | |
Provisions | (1,359) | (2,265) | (1,918) | |
Income tax payment | (67,213) | (74,354) | (4,296) | |
Net cash flows provided by operating activities | 712,033 | 689,771 | 401,393 | |
Cash flows from investing activities | ||||
Payments for acquisitions of property, plant and equipment | (688,437) | (479,025) | (321,286) | |
Payments for the acquisition of AFBN assets | (25,000) | (115,000) | ||
Payments for acquisitions of other intangible assets | (7,293) | (6,030) | (1,611) | |
Payments for acquisitions of investments in associates | (2,176) | (3,466) | (2,977) | |
Prepayment of leases | (14,292) | |||
Payments received from farmout agreement | 26,650 | 20,000 | 10,000 | |
Proceeds from the transfer of conventional assets | 10,000 | |||
Interest received | 1,235 | 809 | 65 | |
Proceeds from disposal of oil and gas properties | [1] | 0 | 0 | 14,150 |
Cash received by AFBN assets acquisition | 6,203 | |||
Net cash flows (used in) investing activities | (699,313) | (582,712) | (295,456) | |
Cash flows from financing activities | ||||
Proceeds from borrowings | 318,169 | 128,788 | 358,093 | |
Payment of borrowings cost | (1,779) | (1,670) | (3,326) | |
Payment of principal | (211,499) | (195,091) | (284,695) | |
Payment of interest | (22,993) | (34,430) | (54,636) | |
Payments of lease | (36,780) | (11,494) | (8,911) | |
Share repurchase | 0 | (29,304) | ||
Payments of other financial cost | (25,562) | |||
Net cash flows provided by (used in) financing activities | 19,556 | (143,201) | 6,525 | |
Net increase (decrease) in cash and cash equivalents | 32,276 | (36,142) | 112,462 | |
Cash and cash equivalents at beginning of year | 241,956 | 311,217 | 201,314 | |
Effect of exposure to changes in the foreign currency rate and other financial results of cash and cash equivalents | (64,716) | (33,119) | (2,559) | |
Net increase (decrease) in cash and cash equivalents | 32,276 | (36,142) | 112,462 | |
Cash and cash equivalents at end of year | 209,516 | 241,956 | 311,217 | |
Significant transactions that generated no cash flows | ||||
Acquisition of property, plant and equipment through increase in trade and other payables | 152,607 | 138,543 | 80,321 | |
Disposal for transfer of conventional assets through increase in trade and other receivables | (116,071) | |||
Changes in well plugging and abandonment with an impact in property, plant and equipment | $ (930) | $ (713) | 2,112 | |
Acquisition of AFBN assets | 69,693 | |||
Acquisition of Mexico's exploration assets | 6,174 | |||
Disposal of Mexico's exploration assets | $ (5,126) | |||
[1]Including 15,000 received for the transfer of working interests in Coirón Amargo Sur Oeste (“CASO”) concession (Note 29.2.6) net of 850 from payments related to the transfer of Mexico’s exploration assets. |
Consolidated statements of ca_2
Consolidated statements of cash flows (Parenthetical) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Statement [Line Items] | |
Received for the transfer of working interests | $ 15,000 |
Coirn Amargo Sur Oeste [Member] | |
Statement [Line Items] | |
Payments related to the transfer exploration assets | $ 850 |
Group information
Group information | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Group information | Note 1. Group information 1.1 General information Vista Energy, S.A.B. de C.V. (“VISTA”, the “Company” or the “Group”), formerly known as Vista Oil & Gas, S.A.B. de C.V., was organized as variable-capital stock company on March 22, 2017, under the laws of the United Mexican States (“Mexico”). The Company adopted the public corporation or “Sociedad Anónima Bursátil de Capital Variable” (“S.A.B. de C.V.”), on July 28, 2017. On April 26, 2022, Vista Oil & Gas, S.A.B. de C.V. changed the Company’s corporate name to “Vista Energy S.A.B. de C.V.”. The Company made an initial public offering in the New York Stock Exchange (“NYSE”) on July 25, 2019 and started operating under ticker symbol “VIST” as from the following day. It issued additional Series A shares in the Mexican Stock Exchange (“BMV by Spanish acronym) on the same date under ticker symbol “VISTA”. The Company’s corporate purpose is: (i) Acquiring, by any legal means, all kinds of assets, shares, interests in companies, equity interests or interests in all types of companies, either profit-making or nonprofit entities, associations, business corporations, trusts or other entities operating in the energy sector, in Mexico or in another country, or in any other industry; (ii) Participating as a partner, shareholder or investor in all types of businesses or profit-making or nonprofit entities, associations, trusts, in Mexico or in another country, or of any other nature; (iii) Issuing and placing shares representing its capital stock, either through public or private offerings, in domestic or foreign securities markets; (iv) Issuing and placing warrants, either through public or private offerings, in relation to shares representing their capital stock or other types of securities, in domestic or foreign securities markets, and (v) Issuing or placing negotiable instruments, debt instruments or other guarantees, either through public or private offerings, in domestic or foreign securities markets. The Company mainly engages in crude oil and natural gas exploration and production (“Upstream”). As of December 2023, the Company is the owner of the following exploitation concessions through its subsidiaries: In Argentina In the Neuquén basin: (i) 100% in the conventional exploitation concessions (not operated) as detailed bellow: - 25 de Mayo - Medanito S.E., located in the Province of Río Negro and maturing in 2026; - Jagüel de los Machos, located in the Province of Río Negro and maturing in 2025; - Entre Lomas Neuquén, Entre Lomas Río Negro, both maturing in 2026; - Jarilla Quemada (in Agua Amarga area); located in the Province of Río Negro and maturing in 2040; and - Charco del Palenque (in Agua Amarga area) located in the Province of Río Negro and maturing in 2034. All of these areas are operated by Petrolera Aconcagua Energía S.A. (“Aconcagua”) (Note 1.2.1). (ii) 100% in the unconventional exploitation concessions (operated) as detailed bellow: - Bajada del Palo Oeste and Bajada del Palo Este, located in the Province of Neuquen, both maturing in 2053; - Aguada Federal and Bandurria Norte, located in the Province of Neuquen, both maturing in 2050. (iii) 84.62% in Coirón Amargo Norte conventional exploitation concession (operated); located in the Province of Neuquen, maturing in 2036. (iv) 90% in Águila Mora unconventional exploitation concession (operated); located in the Province of Neuquen, maturing in 2054. In the Northwest basin: (v) 1.5% in Acambuco conventional exploitation concession (not operated), composed of two exploitation plots “San Pedrito” and “Macueca”, located in the Province of Salta, with maturing in 2036 and 2040, respectively and operated by Pan American Energy. In Mexico (i) 100% in CS-01 Additionally, as of December 31, 2023, the Company is the owner of the following transportation concessions through its subsidiaries: In Argentina (i) 100% in the Federal transportation concession, which extend is from Borde Montuoso oilfield (in Bajada de Palo Oeste area, Province of Neuquén) to La Escondida pumping station, maturing in 2053. (ii) 100% in the Entre Lomas Crude oil transportation concession, which extend is from the oil pipeline connecting the crude treatment plant located in Charco Bayo oilfield in Entre Lomas area to its interconnection with the Crude oil trunk transportation system in La Escondida, maturing in 2026. (iii) 100% in the 25 de Mayo-Medanito S.E. crude oil transportation concession, which extend is from the oil pipeline connecting the crude treatment plant located in 25 de Mayo-Medanito S.E. area (Río Negro) to its interconnection with the Crude oil trunk transportation system in “Medanito”, maturing in 2026. This concession was signed to Aconcagua in the agreement mentioned to in Note 1.2.1. (iv) 100% in the Entre Lomas gas transportation concession, which extend is from the gas pipeline connecting the gas treatment plant located in Charco Bayo oilfield in Entre Lomas Area, to its interconnection with the gas trunk transportation system in the Province of Río Negro, maturing in 2026. This concession was signed to Aconcagua in the agreement mentioned to in Note 1.2.1. (v) 100% in the Jarilla Quemada gas transportation concession, which extend is from the gas pipeline connecting such oilfield to the Medanito-Mainqué gas pipeline, maturing in 2048. This concession was signed to Aconcagua in the agreement mentioned to in Note 1.2.1. Its main office is located in the City of Mexico, Mexico, at Pedregal 24, floor 4, Colonia Molino del Rey, Alcaldía Miguel Hidalgo, zip code 11040. 1.2 Significant transactions for the year 1.2.1 Agreement signed with Aconcagua related to conventional assets (“transfer of conventional assets”) On February 23, 2023, the Company approved the agreement signed by its subsidiary Vista Energy Argentina S.A.U. (“Vista Argentina”) with Aconcagua for the operations in the following concessions of the Neuquina Basin, Argentina (the “Transaction”): (i) the Entre Lomas upstream concession located in the Province of Neuquén; (ii) Entre Lomas, Jarilla Quemada, Charco del Palenque, Jagüel de los Machos and 25 de Mayo-Medanito S.E upstream concessions located in the Province of Río Negro (jointly, the “Exploitation Concessions”); (iii) the Entre Lomas and Jarilla Quemada gas transportation concession located in the Province of Río Negro, and (iv) the 25 de Mayo-Medanito S.E. crude oil transportation concession located in the Province of Río Negro (jointly with the Exploitation concessions the “Concessions”). The Transaction consists of a two-phase - The First Phase or Operating Period, which became effective on March 1, 2023, (“Effective Date”) and will remain in place until the “Closing Date”, which will be: (i) the date when Vista Argentina has received 4 (four) million barrels of crude oil and 300 (three hundred) million standard cubic meters (m 3 3 - If Aconcagua fails to meet the aforementioned point (i), Aconcagua undertakes to pay in cash before Deadline the undelivered production according to the average price of the Neuquén Basin for the last 12 (twelve) months. - The Second Phase will begin on Closing Date, and Vista Argentina and Aconcagua will request the Provinces of Río Negro and Neuquén (“the Provinces”) to approve the assignment of the Concessions. Thus, the Second Phase will end when the Concessions are transferred to Aconcagua through the Provinces’ approvals and the Transaction will then be formalized. Under the terms of the Transaction, during the Operating Period, Vista Argentina maintains the ownership of the Concessions, and Aconcagua: (i) pays 26,468 in cash (10,000 on February 15, 2023, (“Signature Date”) and 10,734 and 5,734 in March 2024 and 2025, respectively); (ii) will operate the Concessions on an as is where is The Concession transaction is governed by a joint operating agreement between both parties. Among other issues, it is established that Vista Argentina maintains the right to explore and develop the Vaca Muerta formation in the exploitation concessions, and that it may obtain one or more independent and separate unconventional concessions to develop such resources. In addition, the Parties signed natural gas processing and sales agreements whereby Aconcagua undertakes to provide Vista Argentina with certain additional volumes of natural gas, and to process and deliver the natural gas applicable to Vista Argentina. Finally, if Aconcagua fails to comply with its obligations, which either in part or in full exceed 250, Vista Argentina may regain control of the Concessions. As a consequence of the Transaction, the Company received 10,000 in cash; and recognized: (i) an initial accounts receivable for a total amount of 205,730 in “Trade and other receivables” under “Receivable related to the transfer of conventional assets” (Note 17); (ii) a disposal of 120,529 and 5,542 in “Property, plant and equipment” and “Goodwill”, respectively (Note 13 and 14), and (iii) a gain of 89,659 in “Other operating income” under “Gain related to transfer of conventional assets” (Note 10.1). For the year ended December 31, 2023, the Company recognized 27,539 in the consolidated statement of profit or loss under “Other non-cash costs related to the transfer of conventional assets”, mainly related to the costs for supplying the volumes of crude oil, natural gas and Liquefied Petroleum Gas (“LPG”) by Aconcagua under the agreement, which were discounted from the initial credit recognized for the transaction. |
Basis of preparation and materi
Basis of preparation and material accounting policies | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Basis of preparation and material accounting policies | Note 2. Basis of preparation and material accounting policies 2.1 Basis of preparation and presentation The accompanying consolidated financial statements as of December 31, 2023, and 2022, and for the years ended December 31, 2023, 2022 and 2021, were prepared in accordance with the International Financial Reporting Standards (“IFRS”) and issued by the International Accounting Standards Board (“IASB”). They were prepared on a historical cost basis, except for certain financial assets and liabilities that were measured at fair value. The figures contained herein are stated in US Dollars (“USD”) and are rounded to the nearest thousand, unless otherwise stated. These consolidated financial statements were approved by management for issuance for the Company’s annual report on Form 20-F on April 23, 2024, and the subsequent events through that date are considered (Note 33). 2.2 New accounting standards, amendments and interpretations issued by the IASB 2.2.1 New effective accounting standards, amendments and interpretations issued by the IASB adopted by the Company Amendments to IAS 1: Presentation of financial statements - Disclosure of Accounting Policies In February 2021, the IASB issued amendments to IAS 1, in which it provides guidance and examples to help entities apply materiality judgements to accounting policy disclosures, replacing “significant” with a requirement to disclose their “material” accounting policies. According to IAS 1, an accounting policy is material if, together with other information contained in the financial statements, it can be expected to influence the decisions made by users of the financial statements. The amendments to IAS 1 are applicable for annual periods beginning after 1 January 2023. The amendments were considered in the preparation of these consolidated financial statements. Amendments to IAS 8: Accounting policies, changes in accounting estimates and errors – Definition of accounting estimates In February 2021, the IASB issued amendments to IAS 8, in which it clarifies the distinction between changes in accounting estimates and changes in accounting policies and the correction of errors. Also, they clarify how entities use measurement techniques and inputs to develop accounting estimates. The amended standard clarifies that the effects on an accounting estimate of a change in an input or a change in a measurement technique are changes in accounting estimates if they do not result from the correction of prior period errors. The amendments are effective for annual reporting periods beginning after 1 January 2023. The amendments had no impact on the Company’s consolidated financial statements as the current accounting policies are aligned to the amendments. Amendments to IAS 12: Income taxes - Deferred tax related to assets and liabilities arising from a single transaction On May 7, 2021, the Board issued amendments to IAS 12, related to assets and liabilities arising from a single transaction, that result in the recognition of a simultaneous asset and liability, such as right-of-use The purpose of such amendments is to limit the application of the exemption from the initial recognition of deferred tax assets and liabilities in certain single transactions. The amendments are effective for annual reporting periods beginning after 1 January 2023. The amendments had no impact on the consolidated financial statements. Amendments to IAS 12: Income tax. International Tax Reform Pillar Two Model Rules On May 23, 2023, the IASB issued amendments to IAS 12 to apply the pillar two model rules published by the Organization for Economic Co-operation The IASB amendments are: (i) A mandatory temporary exception to the deferred taxes accounting from the jurisdictional implementation of pillar two income taxes and; (ii) Disclosure requirements for affected entities to help users of the financial information better understand an entity’s exposure to Pillar Two income taxes arising from that legislation, particularly before its effective date. The amendments are effective for annual periods beginning on or after January 1, 2023, immediately and retrospectively, according to the principles established in IAS 8. As the date of these financial statements, the adoption of the aforementioned amendments has not had effects since the required regulations have not been issued in the main jurisdictions in which the Company operates. 2.2.2 New accounting standards, amendments and interpretations issued by the IASB not yet effective Amendments to IAS 1: Presentation of Financial Statements. Classification of Liabilities as Current or Non-current In October 2022, the IASB published changes to certain paragraphs of IAS 1 to specify the requirements for classifying liabilities as current or non-current. (i) What is meant by a right to defer settlement; (ii) That a right to defer must exist at the end of the reporting period; (iii) That classification is unaffected by the likelihood that an entity will exercise its deferral right and; (iv) That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification. These amendments will be effective for annual periods beginning on or after January 1, 2024, and should be applied retrospectively. These amendments are not expected to have a major impact on the Company’s consolidated financial statements. Amendments to IAS 7: Statements of Cash Flows, and IFRS 7: Financial Instruments: Disclosures – Disclosure of Supplier Finance Arrangements On May 25, 2023, the IASB published amendments to IAS 7 and IFRS 7 whereby it introduces new disclosure requirements in IFRS Standards to enhance the transparency and, thus, the usefulness of the information provided by entities about supplier finance arrangement. The new requirements aim to facilitate a better understanding of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk. They will be effective for annual periods beginning on or after January 1, 2024. These amendments are not expected to have a major impact on the Company’s consolidated financial statements. Amendments to IFRS 16: Leases. Recognition of lease liabilities in a sale and leaseback In September 2022, the IASB published amendments to IFRS 16 related to the recognition of lease liabilities in a sale and leaseback. The amendment specifies the requirements that a seller-lessee should use to measure the lease liability arising in a sale to ensure the seller-lessee does not recognize any amount of the gain or loss that relates to the right of use it retains. They will be effective for annual periods beginning on or after January 1, 2024. They are applied retrospectively, and early adoption is allowed. They are not expected to have a major impact on the Company’s consolidated financial statements since it has no sale and leaseback transactions. 2.3 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries. 2.3.1 Subsidiaries Subsidiaries are all entities over which the Company has control, which occurs if and only if the Company has all the following: (i) Power over the entity; (ii) Exposure or rights to variable returns from its involvement with the entity; and (iii) The ability use its power over the entity to affect the amount of the investor’s returns. The Company reassesses whether it controls a subsidiary if facts and circumstances indicate that there are changes to 1 (one) or more of the 3 (three) elements of control mentioned above. When the Company has less than a majority of the voting rights of an investee, it has power over the latter when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Company assesses all facts and circumstances to determine whether voting rights are sufficient to give it power over an entity, including: (i) The size of the Company’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders; (ii) potential voting rights held by the Company, other vote holders or other parties; (iii) rights arising from other contractual arrangements; and (iv) any additional facts and circumstances that indicate the Company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meeting. Relevant activities are those that most significantly affect the subsidiary’s performance, such as the ability to approve an operating and capital budget and the power to appoint Management personnel. These decisions show that the Company has rights to direct a subsidiary’s relevant activities. Subsidiaries are consolidated from the date the Company obtains control over them and ceases when such control ends. Specifically, profit and expenses of a subsidiary acquired or disposed of during the year are included in the statements of profit or loss and other comprehensive income as from the date in which the Company obtains control until it assigns or loses such control. Intercompany transactions, balances and income or losses are deleted. The subsidiaries’ financial statements are adjusted when needed to align their accounting policies to the Company’s accounting policies. Below are the Company’s main subsidiaries: Subsidiary name Equity interest Place of business Main activity December 31, 2023 December 31, 2022 December 31, 2021 Vista Energy Holding I, S.A. de C.V. (“Vista Holding I”) 100 % 100 % 100 % Mexico Holding company Vista Energy Holding II, S.A. de C.V. (“Vista Holding II”) 100 % 100 % 100 % Mexico Exploration and production (1) Vista Energy Holding III, S.A. de C.V. 100 % 100 % 100 % Mexico Services Vista Energy Holding IV, S.A. de C.V. 100 % 100 % 100 % Mexico Services Vista Oil & Gas Holding V B.V. 100 % 100 % 100 % Netherland Holding company Vista Complemento S.A. de C.V. (3) — % — % 100 % Mexico Services Vista Holding VII S.á.r.l. 100 % 100 % 100 % Luxembourg Holding company Vista Argentina 100 % 100 % 100 % Argentina Exploration and production (1) Subsidiary name Equity interest Place of business Main activity December 31, 2023 December 31, 2022 December 31, 2021 Aleph Midstream S.A. (“Aleph”) 100 % 100 % 100 % Argentina Services (2) Aluvional S.A. (“Aluvional”) 100 % 100 % 100 % Argentina Mining and industry AFBN S.R.L. (“AFBN”) 100 % 100 % 100 % Argentina Exploration and production (1) VX Ventures Asociación en Participación 100 % 100 % 100 % Mexico Holding company (1) It refers to the exploration and production of natural gas and crude oil. (2) Including operations related to the capture, treatment, transport and distribution of hydrocarbons and derivatives. (3) Subsidiary merged with Vista Holding II on January 1, 2022. 2.3.2 Changes in interests Changes in the Company’s working interests in its subsidiaries that do not result in a change in control of the subsidiary are accounted for as equity transactions. The carrying amount of the Company’s interests is adjusted to reflect the changes in interests in the subsidiaries. When the Company ceases to consolidate or book a subsidiary for loss of control, joint control or significant influence, any retained working interest in the entity is remeasured at fair value with the change in the carrying amount recognized in the statements of profit or loss and other comprehensive income. This fair value becomes the initial carrying amount for the purposes of subsequently booking retained interest as the associate, joint venture or financial asset. In addition, any amount previously recognized in other comprehensive income in relation to such entity is booked as if the Company had directly disposed of the related assets or liabilities. This may mean that the amounts previously recognized in other comprehensive income are reclassified to profit or loss. If the working interest in a joint venture or associate is reduced, but the entity retains the joint control or significant influence, only a proportion of the previously recognized amounts in other comprehensive income is reclassified to profit or loss. 2.3.3 Joint arrangements According to IFRS 11 Joint Arrangements, investments are classified as joint operations or joint venture, depending on contractual rights and obligations. The Company has joint operations but has no joint venture. Joint operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. Joint control exists only when decisions about the relevant business activities require the unanimous consent of the parties that collectively control the arrangement. When the Company carries out activities under joint operations, the Company as a joint operator, to recognize in proportion to its interest in the joint arrangement: (i) Its assets and liabilities held jointly; (ii) Its revenue from the sale of its share of the output of the joint operation; (iii) Its revenue from the sale of its share of the output of the joint operation; and (iv) Its expenses, including its share of any expenses incurred jointly. The Company books its assets, liabilities, revenues and expenses related to its interest in a joint operation according to the IFRS applicable to specific assets, liabilities, revenues and expenses. They were included in the consolidated financial statements in the related accounts. Interest in joint operations were based on the latest financial statements or financial information available as of every year-end See Notes 1.1 and 29 for further information on the Company’s joint operations. 2.3.4 Business combination The acquisition method is used to book business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for these acquisitions comprises: (i) The fair value of transferred assets; (ii) The liabilities incurred to former owners of the acquired business; (iii) The equity interests issued by the Company; (iv) The fair value of any asset or liability from a contingent consideration arrangement; and (v) The fair value of any previously held equity interest in the subsidiary. Identifiable assets acquired and contingent liabilities assumed in a business combination are initially measured at fair values at the date of purchase. The costs related to the acquisition are booked as incurred expenses. Goodwill is an excess of: (i) The consideration transferred; and (ii) The fair value of net identifiable assets acquired. If the fair value of the acquiree’s net identifiable assets exceeds these amounts, before recognizing profit, the Company reassesses whether it has correctly identified all assets acquired and liabilities assumed, reviewing the procedures employed to measure the amounts to be recognized at the acquisition date. If the assessment still results in excess of the fair value of net assets acquired in relation to the total consideration transferred, gain from a bargain purchase is recognized directly in the consolidated statements of profit or loss and other comprehensive income. When the settlement of any cash consideration is deferred, the future amounts payable is discounted at their present value at the exchange date. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained under comparable terms and conditions. Contingent consideration will be recognized at its fair value at the acquisition date. Contingent consideration is classified as equity or as a financial liability. The amounts classified as a financial liability are remeasured at fair value with changes in fair value through the consolidated statements of profit or loss and other comprehensive income. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. When the Company acquires a business, it assesses the financial assets acquired and liabilities incurred in relation to its adequate classification and designation according to contractual terms, economic circumstances and relevant conditions as of the acquisition date. Oil reserves and resources acquired that may be measured reliably are recognized separately at fair value upon the acquisition. Other potential reserves, resources and rights, which fair values cannot be measured reliability, are not recognized separately but are considered part of goodwill. If the business combination is performed in stages, the previously held equity interest in the acquiree is measured at acquisition-date fair value. Profit or loss from such remeasurement is recognized in the consolidated statements of profit or loss and other comprehensive income. The Company has a maximum period of 12 (twelve) months from the date of acquisition to finalize the acquisition accounting. When it is incomplete as of the end of the year in which the business combination takes place, the Company reports provisional amounts. For the years ended December 31, 2023, 2022, and 2021, transactions carried out by the Company are not business combinations. 2.4 Summary of material accounting policies 2.4.1 Segment information The operating segments are reported in a consistent manner with the internal reports provided by the Executive Management Committee (the “Committee” that is considerate the “Chief Operating Decision Maker” or “CODM”). The CODM is the highest decision-making authority, in charge of allocating resources and establishing the performance of the entity’s operating segments and was identified as the body executing the Company’s strategic decisions. See Note 4. 2.4.2 Property, plant and equipment and intangible assets Property, plant and equipment Property, plant and equipment is measured using the cost model, the asset is valued at cost less depreciation and any subsequent accumulated impairment loss. Subsequent costs are included in the carrying amount of the asset or are recognized as a separate asset, as the case may be, only when it is probable that future economic benefits may flow to the Company and the cost of the asset may be measured reliably, otherwise such costs are charged to profit or loss during the reporting period in which they are incurred. Works in progress are booked at cost less any impairment loss, of applicable. Profit or loss from the sale of property, plant and equipment is calculated by comparing the consideration received with the carrying amount of the date in which the transaction was carried out. 2.4.2.1 Depreciation methods and useful lives Estimated useful lives, residual values and the depreciation method are reviewed at every period-end, The Company amortizes drilling costs applicable to productive and in development, productive wells, and production facilities, according to the unit of production method (“UDP” by Spanish acronym), applying the proportion of crude oil and natural gas produced to proved and developed crude oil and Natural gas reserves, as the case may be. The mineral properties are amortized applying the proportion of produced crude oil and natural gas to total estimated crude oil and natural gas proved reserves. The costs of acquiring properties with unproved reserves are valued at cost, and their recoverability is assessed regularly based on geological and engineering estimates of the reserves and resources expected to be proved during the life of each concession and are not depreciated. Capitalized costs related to the acquisition of properties and the extension of concessions with proved reserves were depreciated per field based on a UDP by applying the proportion of produced crude oil and natural gas to estimated total proved oil and gas reserves. (Note 2.4.2.3). The Company’s remainder items of property, plant and equipment (including significant identifiable components) are depreciated using the straight-line method based on their estimated useful lives, as detailed below: Buildings 50 years Machinery and installations 10 years Equipment and furniture 10 years Vehicles 5 years Computer equipment 3 years Land does not depreciate. 2.4.2.2 Assets for oil and gas exploration and production The Company adopts the successful effort method to account for its oil and gas exploration and production activities. This method implies the capitalization of: (i) the cost of acquiring properties in oil and gas exploration and production areas; (ii) the cost of drilling and equipping exploration wells arising from the discovery of commercially recoverable reserves; (iii) the cost of drilling and equipping development wells; and (iv) estimated well plugging and abandonment obligations. Exploration and evaluation involve the search for hydrocarbon resources, the assessment of its technical viability and the assessment of the commercial feasibility of an identified resource. According to the successful effort method, exploration costs such as geological and geophysical (“G&G”) costs, excluding the costs of exploration wells and 3D seismic testing in operating concessions, are expensed in the period in which they are incurred. These capitalized costs are subject to technical, commercial and administrative review, and a review of impairment indicators at every period-end. When there is sufficient management information indicating impairment, the Company conducts an impairment test according to the policies described in Note 3.2.2. Estimated well plugging and abandonment obligations in hydrocarbon areas, discounted at a risk-adjusted rate, are capitalized in the cost of assets and are amortized using the UDP method. A liability for the estimated value of discounted amounts payable is also recognized. Changes in the measurement of these obligations as a consequence of changes in the estimated term, the cost or discount rate are added to or deducted from the cost of the related asset. 2.4.2.3 Rights and Concessions Rights and concessions are booked as part of property, plant and equipment and are depleted on the UDP over the total proved developed and undeveloped reserves of the relevant area. The calculation of the UDP rate for the depreciation / amortization of development costs considers expenses incurred to date and authorized future development expenses. 2.4.2.4 Intangible assets a. Goowill Goodwill arises during a business combination and represents the excess of the consideration transferred over the fair value of net assets acquired. After initial recognition, goodwill is measured at cost less cumulative impairment losses. To conduct impairment tests, goodwill is allocated as from acquisition date to each cash-generating unit (“CGU”), which represents the lowest level within the Company at which the goodwill is monitored for internal management purposes. Goodwill is tested once a year. When goodwill is allocated to a CGU and part of the transaction within such unit is eliminated, goodwill related to such eliminated transaction is included in the carrying amount of the transaction to determine gain or loss on sale. b. Other intangible assets Other intangible assets acquired separately are measured using the cost model; after initial recognition, the asset is valued at cost less amortization and any subsequent accumulated impairment loss. Intangible assets are amortized using the straight-line method; software licenses are amortized over their estimated 3 (three) year useful life. The amortization of these assets is recognized in the statements of profit or loss and other comprehensive income. The estimated useful life, residual value and amortization method are reviewed at every period-end, 2.4.3 Leases The Company has lease contracts for various items of buildings, facilities and machinery, which are recognizes under IFRS 16. The Company recognizes right-of-use Right-of-use Right-of-use The Company recognizes lease liabilities measured at the present value of the payments to be made during the lease term. These payments include fixed payments, variable payments dependent on an index or rate, and the purchase option and the penalty payments from lease termination. The Company determines the lease term as the noncancellable lease term, together with any period covered by an option to extend the agreement if it is reasonably certain that it will exercise that option. To calculate the present value of lease payments, the Company uses the incremental borrowing rate at the lease contract. After the commencement date, liabilities will be increased to reflect the accretion of interest and will be reduced by the payments made. In addition, the carrying amount of lease liabilities are remeasured if there is an amendment, a change in the lease term, a change in the fixed or in-substance The Company applies the exemption to recognize short-term leases (i.e., those leases for a term under 12 (twelve) months as from the commencement date with no call option). Also, the low-value low-value low-value 2.4.4 Impairment of nonfinancial assets other than goodwill Other nonfinancial assets with a definite useful life undergo impairment tests whenever events or changes in circumstances have indicated that their carrying value may not be recoverable. When the carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognized for the value of the asset. An asset’s recoverable amount is the higher of (i) the fair value of an asset less costs of disposal and (ii) its value in use. Assets are tested for impairment at the lowest level in which there are separately identifiable cash flows largely independent of the cash flows of other groups of assets or CGUs. Amortized nonfinancial assets are reviewed for potential reversal of impairment at the end of each reporting period. See Note 3.2.2 for further information on impairment of nonfinancial assets other than Goodwill. 2.4.5 Foreign currency translation 2.4.5.1 Functional and presentation currency The functional currency of the Company and its subsidiaries is the USD, the currency of the primary economic context in entity operates. To determine the functional currency, the Company makes judgments. The Company reconsiders the functional currency in the event of a change in conditions that may determine the primary economic context. The presentation currency of the Company is USD. 2.4.5.2 Transactions and balances Transactions in a currency other than the functional currency (“foreign currency”) are accounted for at the exchange rate as of each transaction date. Foreign exchange gains and losses from the settlement of transactions and the translation at the closing exchange rate of monetary assets and liabilities denominated in foreign currency are recognized in the consolidated statements of profit or loss and other comprehensive income in “Other financial income (expense)” under “Net changes in foreign exchange rate”. Monetary balances in foreign currency are converted at each country’s official exchange rate as of every year-end. 2.4.6 Financial instruments 2.4.6.1 Financial assets 2.4.6.1.1 Classification (i) Financial assets at amortized cost Financial assets are classified and measured at amortized cost provided that they meet the following criteria: (i) the purpose of the Company’s business model is to maintain the asset to collect the contractual cash flows; and (ii) contractual conditions, on specific dates, give rise to cash flows only consisting in payments of principal and interest on the outstanding principal. (ii) Financial assets at fair value Financial assets are classified and measured at fair value through the consolidated statements of other comprehensive income if the financial assets are held in a business model whose objective is achieved by obtaining contractual cash flows and selling financial assets. However, financial assets are classified and measured at fair value through the consolidated statements of profit or loss if any of the aforementioned criteria is not met. 2.4.6.1.2 Recognition and measurement Upon initial recognition, the Company measures a financial asset at its fair value plus, the transaction costs that are directly attributable to the acquisition of the financial asset. The Company reclassifies financial assets when and only when it changes its model for managing these assets. 2.4.6.1.3 Impairment of financial assets The Company recognizes an allowance for Expected Credit Losses (“ECL”) for all financial assets not held at fair value through profit or loss. ECLs are based on the difference between contractual cash flows owed and all the cash flows that the Company expects to receive. For trade and other receivables, the Company calculates an allowance for ECL at each reporting date. Expected credit losses in trade and other receivables are estimated on a case-by-case The Company recognizes the impairment of a financial asset when contractual payments are more than 90 (ninety) days past due or when the internal or external information shows that it is unlikely that the pending contractual amounts be received. A financial asset is derecognized when there is no fair expectation to recover contractual cash flows. 2.4.6.1.4 Offsetting of financial instruments Financial assets and liabilities are disclosed separately in the consolidated statement of financial position unless the following criteria are met: (i) the Company has a legally enforceable right to set off the recognized amounts, and (ii) the Company intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. A right to set off is that available to the Company to settle a payable to a creditor by applying against it a receivable from the same counterparty. Jurisdiction and laws applicable to relations between parties are considered upon assessing whether there is such a legally enforceable right. 2.4.6.2 Financial liabilities and equity instruments Liabilities and equity instruments issued by the Company are classified as financial liabilities or equity according to the substance of the agreement and its definition. (i) Financial liabilities A contractual agreement is classified as a financial liability and is measured at fair value with changes in the consolidated statements of profit or loss and other comprehensive income. The financial liabilities are initially recognized at fair value and after that, at their amortized cost (using the effective interest method) or at fair value through the consolidated statements of profit or loss and other comprehensive income. The effective interest method is used in the calculation of the amortized cost of a financial liability and in the allocation of interest expense during the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments throughout the expected life of the financial liability. The Company derecognizes financial liabilities when obligations are discharged, cancelled or expired. The difference between the carrying amount of such financial liability and the consideration paid is recognized in the statements of profit or loss and other comprehensive income. When an existing financial liability is replaced by another one in terms that are substantially different from the original term or the terms of an existing liability change substantially, it results in the derecognition of the original liability and recognition of a new liability. The difference in the related accounting values is recognized in the statements of profit or loss and other comprehensive income. Borrowings are recognized initially at fair value, net of transaction costs incurred. Financial liabilities related to purchasing value units (“UVA” by Spanish acronym) are adjusted by the benchmark stabilization coefficient (“CER” by Spanish acronym) at each closing date, recognizing the effects on “Other financial income (expense)” under “Remeasurement in borrowings”. (ii) Equity instruments An equity instrument is any agreement that evidences an interest in the Company’s net assets and is recognized for the amount of profit earned for the issuance of the equity instrument, net of direct issuance costs. (iii) Compound financial instruments The component parts of a compound instrument issued by the Company are classified separately as financial liabilities and equity instruments according to the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. An equity instrument is a conversion option that wi |
Significant accounting judgemen
Significant accounting judgements estimates and assumptions | 12 Months Ended |
Dec. 31, 2023 | |
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Significant accounting judgements estimates and assumptions | Note 3. Significant accounting judgements estimates and assumptions Preparing the consolidated financial statements requires that the Company make future judgments and estimates, apply significant accounting judgments and make assumptions that affect the application of accounting policies and the figures for assets and liabilities, revenue and expenses. The estimates and judgments used in preparing the consolidated financial statements are constantly evaluated and are based on the historical experience and other factors considered to be fair in accordance with current circumstances. Future profit (loss) may differ from the estimates and evaluations made as of the date of preparation of these consolidated financial statements. 3.1 Significant judgments in the application of accounting policies Below are the significant judgments other than those involving estimates (Note 3.2) that Management made in applying the Company’s accounting policies and that have a material impact on the figures recognized in the consolidated financial statements. 3.1.1 Contingencies The Company is subject to several claims, trials and other legal proceedings that arose during the ordinary course of business. The Company’s liabilities with respect to such claims, trials and other legal proceedings cannot be estimated with an absolute certainty. Therefore, the Company periodically reviews each contingency status and assesses the potential liability, employing the criteria mentioned in Note 22.3; hence, Management makes estimates mainly with the legal counsel’s assistance based on information available as of the date of the consolidated financial statements and the litigation, resolution or settlement strategies. Contingencies include pending lawsuits or claims for potential damage or third-party claims in the Company’s ordinary course of business and third-party claims from disputes related to the interpretation of applicable legislation. 3.1.2 Environmental remediation The costs incurred in limiting, neutralizing or preventing environmental pollution are capitalized only if at least one of the following conditions is met: (i) these costs are related to security improvements; (ii) environmental pollution risk is prevented or limited; or (iii) the costs incurred in preparing assets for sale and the carrying amount (which considers these costs) of these assets does not exceed the related recovery value. The liabilities related to future remediation costs are booked when, based on environmental assessments, the likelihood of occurrence of these liabilities is high and costs may be reasonably estimated. The actual recognition and amount of these provisions is generally based on the commitments acquired by the Company to realize them, such as an approved remediation plan or the sale or disposal of an asset. The provision is recognized on the basis that the future remediation commitment will be required. The Company measures liabilities based on the best estimate of the present value of future costs using the information currently available and by applying current environmental laws and regulations and the Company’s existing environmental policies. 3.1.3 Business combinations The acquisition method implies the measurement at fair value of identifiable assets acquired and liabilities assumed in a business combination at acquisition date. The Company determines that it has acquired a business when the acquired set of activities and assets include an input and a substantive process that together significantly contribute to the ability to create an output. The acquired process is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include an organized workforce with necessary skills, knowledge or experience to perform that processes or else it significantly contributes to the ability to produce outputs and is considered unique or scarce or cannot be replaced without significant cost, effort or delay in the ability to continue producing outputs. In cases where an oil and gas property acquisition transaction does not compliance the above conditions, the Company considers that it must be recognized as an asset acquisition. When the Company determines that it has acquired a business, to determine the fair value of identifiable assets, the Company uses the valuation approach that is most representative for each asset. These methods are the (i) income approach through indirect cash flows (net present value of expected future cash flows) or through the multi-period excess earnings method; (ii) cost approach (replacement value of the asset adjusted by loss due to physical impairment, functional and economic obsolescence); and (iii) market approach through a comparable transaction method. Also, to determine the fair value of liabilities assumed, the Company considers the likelihood of cash outflows that will be required for each contingency and calculates the estimates with the legal counsel’s assistance based on available information and the litigation and resolution/settlement strategy. Management significant judgment is required to choose the approach to be used and estimate future cash flows. Actual cash flows and values may differ significantly from expected future cash flows and the related values obtained through the aforementioned valuation techniques. 3.1.4 Joint arrangements The Company assesses whether it has joint control on an arrangement, which requires assessing activities and decisions about these relevant activities that require unanimous consent. The Company determined that the relevant activities for joint arrangements are those related to operating decisions, including the approval of the annual work program and operating expenses; the budget; and the approval of service suppliers. The considerations made to assess joint control are the same as those needed to determine control on subsidiaries as established in Note 2.3.1. Judgment is also required to classify a joint arrangement. Which requires that the Company assess its rights and obligations under the agreement. 3.1.5 Functional currency The functional currency of the Company and its subsidiaries is the USD (Note 2.4.5.1), the currency of the primary economic context in entity operates. To determine the functional currency, the Company makes judgments. The Company reconsiders the functional currency in the event of a change in conditions that may determine the primary economic context. 3.2 Key sources of uncertainty in estimates Below are the main estimates that entail significant impact in the Company’s assets and liabilities: 3.2.1 Impairment of goodwill Goodwill is reviewed annually for impairment or more frequently if there are events or changes in circumstances showing that the recoverable amount of the CGU related to goodwill should be analyzed. Whether goodwill is impaired is assessed by considering the recoverable amount of the CGUs to which it is allocated. Impairment is recognized when the recoverable amount of the CGU is lower than its carrying amount (including goodwill). The Company has goodwill for 22,576 and 28,888 in the consolidated statement of financial position as of December 31, 2023 and 2022 (Note 14) related to the initial business combination. The assessment of whether goodwill of a CGU or group of CGUs is impaired involves Management estimates on highly uncertain matters, including the assessment of the appropriate group of CGUs for goodwill impairment testing. The Company supervises goodwill for internal management purposes based on its only business segment. Upon testing goodwill for impairment, the Company uses the approach described in Note 3.2.2. No goodwill impairment losses were recognized as of December 31, 2023, 2022 and 2021. 3.2.2 Impairment of nonfinancial assets other than goodwill Nonfinancial assets, including identifiable intangible assets, are tested for impairment at the lowest level in which there are separately identifiable cash flows largely independent of the cash flows of other groups of assets or CGUs. In Argentina, oil and gas properties were grouped as detailed bellow: - As of December 31, 2023, (i) operated exploitation concessions of unconventional oil and gas exploration and production; and (ii) non-operating - As of December 31, 2022, (i) operated exploitation concessions of conventional oil and gas exploration and production; (ii) operated concessions of unconventional oil and gas exploration and production; and (iii) non-operating The Company also identified only 1 (one) CGUs in Mexico: (i) operated exploitation concessions of conventional oil and gas exploration and production, as of December 31, 2023 and 2022. To assess whether there is evidence that a CGU may be impaired, external and internal sources of information are analyzed, provided that the events or changes in circumstances show that the book value of an asset or CGU may not be recovered. Some examples of these events are changes in the Group’s business plans, physical damage testing, or, in the case of oil and gas assets, decrease of estimated reserves or increases in estimated future development expenses or dismantling costs, the behavior of Crude oil international prices and demand, the regulatory framework, expected capital investments and changes in demand. Should there be an indication of impairment, the Company estimates the recoverable amount of the asset or CGU. The recoverable amount of a CGU is the highest of (i) its fair value less selling price or costs of disposal, and (ii) its value in use. When the carrying amount of a CGU exceeds its recoverable amount, the CGU is deemed impaired, and it is reduced to its recoverable amount. Due to the nature of the Company’s activities, the information on the fair value less selling price of an asset or CGU is usually difficult to obtain unless negotiations are underway with potential buyers or similar transactions. Consequently, unless otherwise stated, the recoverable amount used in impairment testing is the value in use. The value in use of each CGU is estimated using the present value of future net cash flows. Each GGU’s business plans, which are approved annually by the Company, are the main sources of information to determine the value in use. As the initial step in drafting these plans, the Company establishes different assumptions on market conditions, such as Crude oil, Natural gas and LPG prices. These assumptions consider existing prices, the balance between global supply and demand of Crude oil and Natural gas. Upon assessing the value in use, estimated future cash flows are adjusted to consider the specific risks of the group of assets and are discounted at present value using a discount rate before taxes that reflects the current market assessments of the time value of money. The Company assesses whether there is an indication that previously recognized impairment losses have reversed or decreased as of each reporting date. A previously recognized impairment loss is reversed only if here has been a change in the estimates used in determining the recoverable amount of the asset. The assessment of whether an asset or CGU is impaired and to which extent involves Company estimates on highly uncertain issues such as discount rates, production profiles, reserves and resources and commodity future prices. It requires that assumptions be made when assessing the proper grouping of items of property, plant and equipment in a CGU. Actual cash flows and values may differ significantly from expected future cash flows and related amounts obtained using discount techniques, which could create major changes in the accounting values of the Group’s assets. As of December 31, 2023, the Company identified impairment indicators, mainly resulting from the decline in the international price of crude oil in Mexico and local price of natural gas in Argentina. Therefore, the Company performed an impairment testing; using estimated cash flows per CGU, to determine the recoverable amount of the long -lived assets and compare it against carrying amount of CGU. As result of the analysis performed, for the year ended December 31, 2023, the Company recorded an impairment of 22,906 related to the CGU operated exploitation concessions of conventional oil and gas exploration and production in Mexico and 1,679 related to the CGU for non-operating As of December 31, 2022, the Company did not identify indications of impairment related with goodwill and nonfinancial assets other than goodwill. For the year ended December 31, 2021, it recognized a reversal in impairment for 14,044 related to the CGU of operated concessions of conventional oil and gas exploration and production in Mexico, mainly related to the recovery of Crude oil prices and the increase in proved reserves. Main assumptions used The Company’s calculation of the value in use related to the aforementioned CGUs is more sensitive to the following assumptions: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Argentina Mexico Argentina Mexico Argentina Mexico Discount rates (after taxes) 12.9 % 6.0 % 11.9 % 7.9 % 10.4 % 6.1 % Discount rates (before taxes) 21.9 % 8.2 % 18.7 % 11.6 % 16.6 % 10.0 % Prices of crude oil, natural gas and LPG Crude oil (USD/bbl) (1) 2023 — — 80.3 72.2 70.1 63.0 2024 82.4 73.4 92.8 88.3 70.5 63.5 2025 79.0 70.9 84.0 79.9 65.9 58.9 2026 72.6 64.5 79.3 78.3 64.6 58.9 As from 2027 66.4 61.3 79.3 78.3 64.6 58.9 Natural gas-local As from 2.8 3.3 3.9 3.0 3.3 3.0 LPG-local As from 296.3 — 250.4 — 300 — (1) The prices correspond to Brent and Maya, for Argentina and Mexico, respectively. Discount rates: (i) The WACC considers the cost of debt and cost of capital and considered public market data of certain companies deemed comparable (“comparable companies”) based on the industry, region and main activity. (ii) Prices of crude oil, natural gas and LPG: The Company considered discounts for Crude oil prices based on the quality of the Crude oil produced in each CGU. The dynamics of the domestic Crude oil and liquid fuels markets in Argentina and Mexico are also considered. The changes in Brent and Maya prices were estimated using the average market analysis forecasts. To forecast the local price of Natural gas used the average price received from gas sales in each CGU. Natural gas prices are adjusted linearly by the calorific value of gas produced in each CGU. The Company’s long-term assumption for Crude oil prices reflects the judgment the market can produce enough oil to meet global demand sustainably. (iii) Production and reserve volumes Sensitivity to changes in assumptions Regarding the assessment of the value in use as of December 31, 2023, and 2022, the Company considers that there are no reasonably possible changes in any of the abovementioned main assumptions that may cause the carrying amount of any CGU to exceed its recoverable amount, except for the following: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Argentina (1) Mexico Argentina (2) Mexico Argentina (1) Mexico Discount rate + 10% + 10% + 10% Carrying amount (136 ) (2,559 ) — — (98 ) (98 ) Expected prices of crude oil, natural gas and LPG - 10% - 10% - 10% Carrying amount (349 ) (13,402 ) (41,816 ) — (31,773 ) — (1) Related to the non-operating (2) Related to the operated concessions of conventional oil and gas exploration and production CGU. The aforementioned sensitivity analysis may not be representative of the actual change in the carrying amount because it is unlikely that the change in the assumptions would occur in isolation as some assumptions may be correlated. As of December 31, 2023, and 2022, the net carrying amount of property, plant and equipment, intangible assets and right-of-use 3.2.3 Current and deferred income tax 3.2.3.1 Current income tax The Company recognizes a current income tax liability as of every year-end, When tax treatments are uncertain and it is probable that a tax authority will accept the tax treatment afforded by the Company, income tax is recognized according to their calculations and interpretations. If it is not considered likely, the uncertainty is shown using the most likely amount method or the expected value method depending on the method that best predicts the resolution to the uncertainty. 3.2.3.2 Deferred income tax Deferred tax assets are reviewed as of each reporting date and are amended according to the probability that the tax base allow the total or partial recovery of these assets. Upon assessing the recognition of deferred tax assets, the Company considers whether it is probable that some or all assets are not realized, which depends on the generation of future taxable profit in the periods in which these temporary differences become deductible. To this end, the Company considers the expected reversal of deferred tax liabilities, future taxable profit projections and tax planning strategies. The assumptions on the generation of future taxable profit depend on the Company estimates of future cash flows, which are affected by sales and production volumes; Crude oil and Natural gas prices; operating costs; well plugging and abandonment costs; capital expenses; and the judgment on the application of tax laws effective in each jurisdiction. Insofar as future cash flows and taxable profit substantially differ from the Group’s estimates, the Group’s capacity to realize net deferred tax assets booked at reporting date may be affected. Moreover, future changes in the tax laws in the jurisdictions in which the Group operates may hinder its capacity to obtain tax deductions in future periods. 3.2.4 Well plugging and abandonment Well plugging and abandonment at the end of the exploitation concession term requires that Company Management calculate the number of wells, the long-term costs of abandonment and the remaining time until abandonment. The technological, cost, policy, environment and safety issues change constantly and may give rise to differences between actual costs and future estimates. Well plugging and abandonment estimates should be adjusted by the Company at least annually or in the event of changes in the assessment criteria assumed. Well plugging and abandonment liabilities stand at 15,287 and 32,524, as of December 31, 2023, and 2022, respectively (Note 22.1). 3.2.5 Oil and gas reserves Oil and gas items of property, plant and equipment are depreciated using the UDP method over total proved reserves (developed and not developed as applicable). Proved oil and gas reserves are those quantities of natural gas, crude oil, and natural gas liquid which by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations. The useful life of each property, plant and equipment asset is assessed at least annually considering the physical limitations of the goods and the assessments of the economically recoverable reserves in the field in which the asset is located. There are several uncertainties in the estimate of proved reserves and future production plans, development costs and prices, including several factors that are beyond the Company’s control. In estimating reserves involves a certain degree of uncertainty and depend on the quality of the engineering and geological data available as of the estimate date and their interpretation and judgment. Reserve estimates are adjusted when it is justified by changes in the assessment criteria or at least annually. These reserves are based on the estimates certified annually by the independent reserve engineering consultant. The Company uses the information obtained from the reserve calculation in determining the depreciation of assets used in oil and gas areas, and in assessing their recoverability (Notes 3.2.1, 3.2.2, 13 and 32). 3.2.6 Share-based payments The fair value estimate of share-based payments requires the determination of the most appropriate valuation model, which depends on the terms and conditions of the award. This estimate also requires the assessment of the most appropriate input for the valuation model, including the remaining life of stock options, and the shares volatility. To measure the fair value of share-based payments at grant date, the Company employs the Black & Scholes model. The carrying amount, hypotheses and models used in estimating the fair value of transactions involving share-based payments are disclosed in Note 31. 3.2.7 Profit related to the assignment of conventional assets As mentioned in Note 1.2.1, the Company has recognized gain of 89,659 in “Other operating profit” under “Gain related to the transfer of conventional assets” (Note 10.1) resulting from the difference between the initial consideration and the residual value deletion of net assets included in the Transaction. This consideration is related to the committed funds and the initial credit recognized, which is equivalent to the discounted value of the agreed-upon volumes of crude oil, natural gas and LPG to be received during the Operating Period. For the valuation of receivables, the Company has estimated the terms and costs of supplying these volumes and the discount rate applicable. |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2023 | |
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Segment information | Note 4. Segment information The CODM is in charge of allocating resources and assessing the performance of the operating segment. It supervises operating profit (loss) and the performance of the indicators related to its oil and gas properties on an aggregate basis to make decisions regarding the location of resources, negotiate with international suppliers and determine the method for managing contracts with customers. The CODM considers as a single segment the exploration and production of crude oil, natural gas and LPG (including E&P commercial activities), through its own activities, subsidiaries and interests in joint operations and based on the nature of the business, customer portfolio and risks involved. The Company aggregated no segment as it has only one. For the years ended December 31, 2023, 2022, and 2021, the Company generated 99% and 1% of its revenues related to assets located in Argentina and Mexico, respectively. The accounting criteria used by the subsidiaries to measure profit or loss, assets and liabilities of the segments are consistent with those used in these consolidated financial statements. The following chart summarizes noncurrent assets per geographical area: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Argentina 2,122,735 1,638,973 1,260,851 Mexico 49,364 51,316 47,837 Total noncurrent assets 2,172,099 1,690,289 1,308,688 |
Revenue from contracts with cus
Revenue from contracts with customers | 12 Months Ended |
Dec. 31, 2023 | |
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Revenue from contracts with customers | Note 5. Revenue from contracts with customers Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Goods sold 1,168,774 1,187,660 665,310 Total revenue from contracts with customers 1,168,774 1,187,660 665,310 Recognized at a point in time 1,168,774 1,187,660 665,310 The Company’s transactions and main revenue are described in Note 2.4.7. Revenue is derived from contracts with customers. 5.1 Information broken down by revenue from contracts with customers Type of products Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Revenues from crude oil sales 1,097,316 1,113,411 606,183 Revenues from natural gas sales 67,290 68,663 54,301 Revenues from LPG sales 4,168 5,586 4,826 Total revenue from contracts with customers 1,168,774 1,187,660 665,310 Distribution channels Year ended Year ended Year ended Exports of crude oil 642,155 604,977 195,279 Local crude oil for refineries 455,161 508,434 410,904 Exports of natural gas 20,359 13,531 169 Local natural gas for industries 19,606 20,093 17,320 Local natural gas for retail distribution companies 17,639 18,829 18,351 Local natural gas for electric power generation 9,686 16,210 18,461 LPG sales 4,168 5,586 4,826 Total revenue from contracts with customers 1,168,774 1,187,660 665,310 The Company’s performance obligations are related to the transfer of goods to customers. The E&P business involves all the activities related to Crude oil and Natural gas exploration, development and production. Revenue is mainly derived from the sale of produced Crude oil, Natural gas and LPG to third parties at a point in time. |
Cost of sales
Cost of sales | 12 Months Ended |
Dec. 31, 2023 | |
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Cost of sales | Note 6. Cost of sales 6.1 Operating costs Year ended Year ended Year ended Fees and compensation for services 48,729 66,155 53,024 Salaries and payroll taxes 21,072 22,344 16,591 Employee benefits 5,926 6,481 4,877 Transport 5,214 5,963 3,274 Consumption of materials and spare parts 4,933 16,824 15,912 Easements and fees 4,547 11,427 9,572 Other 4,264 4,191 3,873 Total operating costs 94,685 133,385 107,123 6.2 Crude oil stock fluctuation Year ended Year ended Year ended Crude oil stock at beginning of the year (Note 19) 4,722 5,222 6,127 Less: Crude oil stock at end of the year (Note 19) (2,664 ) (4,722 ) (5,222 ) Total crude oil stock fluctuation 2,058 500 905 6.3 Royalties and others Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Royalties 128,723 144,837 86,241 Export duties 48,090 43,840 13,123 Total royalties and others 176,813 188,677 99,364 |
Selling expenses
Selling expenses | 12 Months Ended |
Dec. 31, 2023 | |
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Selling expenses | Note 7. Selling expenses Year ended Year ended Year ended Transport 33,006 28,686 19,554 Taxes, rates and contributions 14,908 16,522 13,921 Fees and compensation for services 10,490 5,137 2,806 Tax on bank account transactions 10,388 9,595 6,061 (Reversal of) allowance for expected credit losses — (36 ) 406 Total selling expenses 68,792 59,904 42,748 |
General and administrative expe
General and administrative expenses | 12 Months Ended |
Dec. 31, 2023 | |
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General and administrative expenses | Note 8. General and administrative expenses Year ended Year ended Year ended Salaries and payroll taxes 23,300 27,178 20,242 Share-based payments (Note 31) 23,133 16,576 10,592 Fees and compensation for services 11,764 9,848 7,412 Employee benefits 4,678 3,360 2,124 Institutional promotion and advertising 2,174 2,066 2,237 Taxes, rates and contributions 1,884 1,859 1,311 Other 3,550 2,939 1,940 Total general and administrative expenses 70,483 63,826 45,858 |
Exploration expenses
Exploration expenses | 12 Months Ended |
Dec. 31, 2023 | |
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Exploration expenses | Note 9. Exploration expenses Year ended Year ended Year ended Geological and geophysical expenses 16 736 561 Total exploration expenses 16 736 561 |
Other operating income and expe
Other operating income and expenses | 12 Months Ended |
Dec. 31, 2023 | |
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Other operating income and expenses | Note 10. Other operating income and expenses 10.1 Other operating income Year ended Year ended Year ended Gain related to the transfer of conventional assets (1) 89,659 — — Gain from Exports Increase Program (2) 81,232 — — Gain from farmout agreement (3) 24,429 18,218 9,050 Other services income (4) 8,492 8,480 4,236 Gain from assets disposal (5) — — 9,999 Total other operating income 203,812 26,698 23,285 (1) See Note 1.2.1. (2) Including 86,173 of gain, net of related costs (Note 2.5.1.1). (3) The years ended December 31, 2023, 2022 and 2021, including 26,650 20,000 and 10,000 of payments received by Trafigura Argentina S.A. (“Trafigura”), related to the farmout agreements, net of disposals of oil and gas properties and goodwill for 2,051 and 170; 1,654 and 128, and 882 and 68, respectively (Notes 13 and 14). (4) Services not directly related to the Company’s main activity. (5) The year ended December 31, 2021 including: (i) 9,788 related to the transfer of the working interest in CASO (Note 29.2.6); (ii) 198 related to Mexico exploratory assets transfer (Note 29.2.7) and; (iii) 13 related to the expiration of Sur Rio Deseado Este exploitation concession (29.2.8). 10.2 Other operating expenses Year ended Year ended Year ended (Provision for) environmental remediation (1) (485 ) (2,133 ) (1,029 ) Restructuring and reorganization expenses (2) (276 ) (531 ) (2,284 ) Reversal of (provision for) materials and spare parts obsolescence (1) 1,132 (278 ) (249 ) (Provision for) contingencies (1) (69 ) (379 ) (652 ) Total other operating expenses 302 (3,321 ) (4,214 ) (1) These transactions did not generate cash flows. (2) The Company booked restructuring expenses including payments, fees and transaction costs related to the changes in the Group’s structure. |
Financial income (expense), net
Financial income (expense), net | 12 Months Ended |
Dec. 31, 2023 | |
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Financial income (expense), net | Note 11. Financial income (expense), net 11.1 Interest income Year ended Year ended Year ended Financial interest 1,235 809 65 Total interest income 1,235 809 65 11.2 Interest expense Year ended Year ended Year ended Borrowings interest (Note 18.2) (21,879 ) (28,886 ) (50,660 ) Total interest expense (21,879 ) (28,886 ) (50,660 ) 11.3 Other financial income (expense) Year ended Year ended Year ended Amortized cost (Note 18.2) (1,810 ) (2,365 ) (4,164 ) Changes in the fair value of warrants (Note 18.5.1) — (30,350 ) (2,182 ) Net changes in foreign exchange rate 18,458 33,263 14,328 Discount of assets and liabilities at present value 2,137 (2,561 ) (2,300 ) Changes in the fair value of financial assets 19,437 (17,599 ) 5,061 Interest expense on lease liabilities (Note 15) (2,894 ) (1,925 ) (1,079 ) Discount for well plugging and abandonment (Note 22.1) (2,387 ) (2,444 ) (2,546 ) Remeasurement in borrowings (1) (72,044 ) (52,817 ) (19,163 ) Other (2) (26,381 ) 9,242 4,851 Total other financial income (expense) (65,484 ) (67,556 ) (7,194 ) (1) Related to corporate bonds (“ON” by its Spanish acronym) in UVA adjusted by CER (Note 18.2). (2) For the years ended December 31, 2023 and 2022, including 819 and 2,515 from loss for ON swapping, respectively (Notes 18.1 and 18.2). |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2023 | |
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Earnings per share | Note 12. Earnings per share a) Basic Basic earnings per share is calculated by dividing the Company’s profit or loss by the weighted average number of ordinary shares outstanding during the year. Year ended Year ended Year ended Profit for the year, net 396,955 269,535 50,650 Weighted average number of ordinary shares 93,679,904 87,862,531 88,242,621 Basic earnings per share 4.237 3.068 0.574 b) Diluted Diluted earnings per share is calculated by dividing the Company’s profit by the weighted average number of ordinary shares outstanding during the year, plus the weighted average of dilutive potential ordinary shares. Potential ordinary shares will be considered dilutive when their conversion to ordinary shares may reduce earnings per share or increase losses per share. They will be considered antidilutive when their conversion to ordinary shares may result in an increase in earnings per share or a reduction in loss per share. The calculation of diluted earnings per share does not involve a conversion; the exercise or other issue of shares that may have an antidilutive effect on loss per share, or when the exercise price is higher than the average price of ordinary shares during the year, no dilution effect is booked, as diluted earnings per share is equal to basic earnings per share. Year ended Year ended Year ended Profit for the year, net 396,955 269,535 50,650 Weighted average number of ordinary shares (1) 99,232,919 97,830,538 93,273,978 Diluted earnings per share 4.000 2.755 0.543 (1) As of December 31, 2023, the Company has 95,355,432 outstanding shares (Note 21.1) that cannot exceed 98,781,028 shares. Likewise, in accordance with IFRS the average number of ordinary shares with a potential dilutive effect amounts to 99,232,919. As of December 31, 2023 and 2022 the Company holds 3,705,757 and 4,854,408 respectively, Series A shares to be used in the LTIP, that, on the date of this consolidated financial statements, are currently unvested. Consequently, they are not included in the weighted average number of ordinary shares to calculate diluted earnings per share. As of December 31, 2021, the Company holds the following ordinary shares that, on the date of this consolidated financial statements, are currently out of the money. Consequently, they are not included in the weighted average number of ordinary shares to calculate diluted earnings / (loss) per share: i. 21,666,667 Series A shares related to 65,000,000 Series A warrants (Note 18.3); ii. 9,893,333 Series A shares related to 29,680,000 warrants (Note 18.3); iii. 1,666,667 Series A shares related to 5,000,000 securities (Forward Purchase Agreement or “FPA”) (Note 18.3); iv. 3,957,518 Series A shares to be used in the LTIP. There were no other transactions involving ordinary shares or dilutive potential ordinary shares between the reporting date and the date of authorization of these consolidated financial statements. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2023 | |
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Property, plant and equipment | Note 13. Property, plant and equipment The changes in property, plant and equipment for the year ended December 31, 2023, are as follows: Land and buildings Vehicles, machinery, facilities, computer hardware and furniture Oil and gas properties Production wells and Works in progress Materials and Total Cost Amounts as of 10,794 43,522 513,164 1,607,895 153,948 41,958 2,371,281 Additions — 1 — — 636,189 98,124 734,314 Transfers 3,474 7,551 — 738,092 (666,739 ) (82,378 ) — Disposals — (13 ) (2,475 ) (1) (930 ) (2) — — (3,418 ) Impairment of long -lived (3) — — (11,982 ) (16,393 ) — — (28,375 ) Disposals related to the (4) (1,694 ) (7,537 ) — (292,020 ) (383 ) (12,749 ) (314,383 ) Amounts as of December 12,574 43,524 498,707 2,036,644 123,015 44,955 2,759,419 Accumulated depreciation Amounts as of (300 ) (15,587 ) (67,947 ) (681,108 ) — — (764,942 ) Depreciation (3 ) (4,921 ) (13,634 ) (246,238 ) — — (264,796 ) Disposals — 10 424 (1) — — — 434 Impairment of long -lived (3) — — 502 3,288 — — 3,790 Disposals related to the (4) 71 5,259 — 188,524 — — 193,854 Amounts as of (232 ) (15,239 ) (80,655 ) (735,534 ) — — (831,660 ) Net value Amounts as of 12,342 28,285 418,052 1,301,110 123,015 44,955 1,927,759 (1) Related to the farmout agreement I and II mentioned in Note 29.2.1.1 and 29.2.1.2. (2) Related to the re-estimation (3) See Note 3.2.2. (4) See Note 1.2.1. The changes in property, plant and equipment for the year ended December 31, 2022, are as follows: Land and Vehicles, machinery, and fixtures Oil and gas Production wells and Works in Materials and Total Cost Amounts as of 2,709 23,070 446,291 1,174,699 91,245 27,796 1,765,810 Additions 8,550 285 — — 433,942 97,243 540,020 Transfers — 20,171 — 433,909 (371,239 ) (82,841 ) — Disposals (465 ) (4 ) (1,870 ) (1) (713 ) (2) — (240 ) (3,292 ) Incorporation for the acquisition of AFBN assets — — 68,743 (3) — — — 68,743 Amounts as of 10,794 43,522 513,164 1,607,895 153,948 41,958 2,371,281 Accumulated depreciation Amounts as of (294 ) (10,834 ) (53,623 ) (477,077 ) — — (541,828 ) Depreciation (17 ) (4,756 ) (14,540 ) (204,031 ) — — (223,344 ) Disposals 11 3 216 (1) — 230 Amounts as of (300 ) (15,587 ) (67,947 ) (681,108 ) — — (764,942 ) Net value Amounts as of 10,494 27,935 445,217 926,787 153,948 41,958 1,606,339 (1) Related to the farmout agreement I, mentioned in Note 29.2.1.1. (2) Related to the re-estimation (3) See Note 29.2.5 |
Goodwill and other intangible a
Goodwill and other intangible assets | 12 Months Ended |
Dec. 31, 2023 | |
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Goodwill and other intangible assets | Note 14. Goodwill and other intangible assets Below are the changes in goodwill and other intangible assets for the year ended December 31, 2023: Goodwill Other Cost Amounts as of December 31, 2022 28,288 18,246 Additions — 7,293 Disposals (170 ) (1) — Disposals related to the transfer of conventional assets (2) (5,542 ) (1,143 ) Amounts as of December 31, 2023 22,576 24,396 Accumulated amortization Amounts as of December 31, 2022 — (11,454 ) Amortization — (4,059 ) Disposals related to the transfer of conventional assets (2) — 1,143 Amounts as of December 31, 2023 — (14,370 ) Net value Amounts as of December 31, 2023 22,576 10,026 (1) Related to (2) See Note 1.2.1. Below are the changes in goodwill and other intangible assets for the year ended December 31, 2022: Goodwill Other Cost Amounts as of December 31, 2021 28,416 12,216 Additions — 6,030 Disposals (128 ) (1) — Amounts as of December 31, 2022 28,288 18,246 Accumulated amortization Amounts as of December 31, 2021 — (8,338 ) Amortization — (3,116 ) Amounts as of December 31, 2022 — (11,454 ) Net value Amounts as of December 31, 2022 28,288 6,792 (1) Related to the farmout agreement I mentioned in Note 29.2.1.1. Goodwill arises from the initial business combination, mainly due to the Company’s capacity to tap into unique synergies from managing a portfolio of acquired oil and existing plots of land. As of December 31, 2023, it was allocated to operated concessions of unconventional oil and gas exploration and production CGU. As of December 31, 2022, it was allocated to the following CGUs in Argentina: (i) 22,746 to operated concessions of unconventional oil and gas exploration and production; and (ii) 5,542 to operated concessions of conventional oil and gas exploration and production. |
Right of use assets and lease l
Right of use assets and lease liabilities | 12 Months Ended |
Dec. 31, 2023 | |
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Right of use assets and lease liabilities | Note 15. Right-of-use The carrying amount of the Company’s right-of-use Right-of-use Total lease Buildings Facilities and Total Amounts as of December 31, 2022 986 25,242 26,228 (29,194 ) Additions — 63,336 63,336 (68,499 ) Reestimation (14 ) 1,450 1,436 (1,675 ) Depreciation (1) (584 ) (29,391 ) (29,975 ) — Payments — — — 36,780 Interest expense (2) — — — (7,880 ) Amounts as of December 31, 2023 388 60,637 61,025 (70,468 ) (1) Including the depreciation of drilling services capitalized as “Works in progress” for 22,400. (2) Including drilling agreements capitalized as “Works in progress” for 4,986. Right-of-use Total lease Buildings Facilities and Total Amounts as of December 31, 2021 1,211 25,243 26,454 (27,074 ) Additions — 449 449 (449 ) Reestimation 348 9,206 9,554 (9,554 ) Depreciation (1) (573 ) (9,656 ) (10,229 ) — Payments — — — 11,494 Interest expense (2) — — — (3,611 ) Amounts as of December 31, 2022 986 25,242 26,228 (29,194 ) (1) Including the depreciation of drilling services capitalized as “Works in progress” for 1,827. (2) Including drilling agreements capitalized as “Works in progress” for 1,686. In line with Note 2.4.3, short-term and low-value |
Deferred income tax assets and
Deferred income tax assets and liabilities and income tax expense | 12 Months Ended |
Dec. 31, 2023 | |
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Deferred income tax assets and liabilities and income tax expense | Note 16. Deferred income tax assets and liabilities, and income tax expense Deferred income tax assets and liabilities break down as follows: As of Profit (loss) Other As of Tax losses and other unused tax credits (1) 4,717 3,215 — 7,932 Provisions 4,706 (436 ) — 4,270 Right-of-use 1,038 2,267 — 3,305 Employee benefit 3,909 (356 ) (2,298 ) 1,255 Other 1,447 (1,420 ) — 27 Assets for deferred income tax 15,817 3,270 (2,298 ) 16,789 Property, plant and equipment (146,154 ) (132,570 ) — (278,724 ) Tax inflation adjustment (108,363 ) 6,124 — (102,239 ) Trade and other receivables (1,347 ) (10,353 ) — (11,700 ) Borrowings (921 ) (47 ) — (968 ) Inventories (898 ) 519 — (379 ) Short-term investments (1,210 ) 1,046 — (164 ) Liabilities for deferred income tax (258,893 ) (135,281 ) — (394,174 ) Deferred income tax, net (243,076 ) (132,011 ) (2,298 ) (377,385 ) As of Profit (loss) Other As of Tax losses and other unused tax credits (1) 6,972 (2,255 ) — 4,717 Provisions 7,265 (2,559 ) — 4,706 Employee benefit 2,913 (467 ) 1,463 3,909 Right-of-use 161 877 — 1,038 Other (501 ) 1,948 — 1,447 Assets for deferred income tax 16,810 (2,456 ) 1,463 15,817 Property, plant and equipment (150,786 ) 4,632 — (146,154 ) Tax inflation adjustment (36,038 ) (72,325 ) — (108,363 ) Trade and other receivables 1,784 (3,131 ) — (1,347 ) Short-term investments (1,925 ) 715 — (1,210 ) Borrowings (1,225 ) 304 — (921 ) Inventories (1,269 ) 371 — (898 ) Liabilities for deferred income tax (189,459 ) (69,434 ) — (258,893 ) Deferred income tax, net (172,649 ) (71,890 ) 1,463 (243,076 ) (1) As of December 31, 2023 and 2022, Deferred income tax assets and liabilities are offset in the following cases: (i) when there is a legally enforceable right to offset tax assets and liabilities; and (ii) when deferred income tax charges are related to the same tax authority. The following amounts, are disclosed in the consolidated statement of financial position: As of December 31, As of December 31, Deferred income tax assets, net 5,743 335 Deferred income tax assets, net 5,743 335 As of December 31, As of December 31, 2022 Deferred income tax liabilities, net 383,128 243,411 Deferred income tax liabilities, net 383,128 243,411 Income tax breaks down as follows: Year ended Year ended Year ended Income tax Current income tax (16,393 ) (92,089 ) (62,419 ) Deferred income tax (132,011 ) (71,890 ) (39,695 ) Income tax (expense) charged in the statement of profit or loss (148,404 ) (163,979 ) (102,114 ) Deferred income tax charged to other comprehensive income (2,298 ) 1,463 2,048 Total income tax (expense) (150,702 ) (162,516 ) (100,066 ) For the years ended December 31, 2023, 2022 and 2021, the Company’s effective rate was 27%, 38% and 67%, respectively. The differences between the effective and statutory rate mainly include: (i) the application of the tax adjustment for inflation in Argentina; (ii) the depreciation of the Argentine peso (“ARS”) with respect to the USD affecting the Company’s tax deductions of nonmonetary assets; and (iii) the accumulative tax losses not recognized in the period. Below is the reconciliation between income tax expense and the amount resulting from the application of the tax rate to profit income tax: Year ended Year ended Year ended Profit before income tax 545,359 433,514 152,764 Effective income tax rate 30 % 30 % 30 % Income tax at the effective tax rate pursuant to effective tax regulations (163,608 ) (130,054 ) (45,829 ) Items that adjust income tax (expense) / benefit: Nondeductible expenses (13,328 ) (18,735 ) (6,600 ) Inflation adjustment (146,077 ) (153,517 ) (98,348 ) Effect on the measurement of monetary and nonmonetary items at functional currency 196,841 169,058 86,724 Unrecognized tax losses and other assets (7,156 ) (15,568 ) (4,047 ) Effect of tax losses (1) — — 31,232 Effect related to statutory income tax rate change (2) — — (67,312 ) Difference in income tax estimate prior year 1,695 6,358 — Application of tax credits 16,077 6,229 9,710 Effect related to the difference in tax rate other than Mexican statutory rate (34,317 ) (25,762 ) (7,637 ) Other 1,469 (1,988 ) (7 ) Total income tax (expense) (148,404 ) (163,979 ) (102,114 ) (1) For the year ended December 31, 2021, (2) For the year ended December 31, 2021, mainly include effects in Note 30.1. As of December 31, 2023 and 2022, the Company and some subsidiaries in Mexico carry accumulated tax losses not recognized for which no deferred tax asset has been recognized. According to Mexican legislation, these accumulated tax losses not recognized shall be adjusted annually by the applicable index. Below are the updated accumulated tax losses not recognized and their due dates: As of December 31, As of December 31, As of December 31, 2027 6,185 5,166 4,499 2028 72,643 60,727 51,618 2029 32,126 27,113 13,781 As from 2030 83,735 36,203 7,903 Total accumulated tax losses not recognized 194,689 129,209 77,801 Income tax liabilities break down as follows: As of December 31, As of December 31, Current Income tax, net of withholdings and prepayments 3 58,770 Total current 3 58,770 16.1 Current income tax The reform introduced by Law No. 27,541 in Argentina set forth that, for fiscal years beginning January 1, 2021, 100% of the adjustment for inflation be deducted or levied in the year in which it is determined (Note 30.1). For the fiscal year ended December 31, 2021, such adjustment for inflation generated a significant increase in the income tax base of Vista Argentina, a Company´s subsidiary, due to the disparity between the changes in the Consumer Price Index (“IPC”, by Spanish acronym) and the exchange rate during such period. The Company considers that the application of this adjustment for inflation violates constitutional rights, principles and guarantees, as it levies fictitious profit, thus increasing the tax burden in a way which is constitutionally inadmissible pursuant to case law issued by the Argentine Supreme Court of Justice. In addition, in this context, Vista Argentina recognized the effects of inflation upon applying accumulated tax losses to the income tax base for the year ended December 31, 2021. |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2023 | |
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Trade and other receivables | Note 17. Trade and other receivables As of December 31, As of December 31, Noncurrent Other receivables: Prepayments, tax receivables and other: Receivables related to the transfer of conventional assets (1) 70,526 — Midstream prepaid expenses (2) 34,660 — Prepaid expenses and other receivables (3) 27,414 13,630 Value added tax (“VAT”) 462 940 Turnover tax 5 493 133,067 15,063 As of December 31, As of December 31, Financial assets: Receivables from joint operations 2,936 — Loans to employees 348 801 3,284 801 Total noncurrent trade and other receivables 136,351 15,864 Current Trade: Oil and gas accounts receivable (net of allowance for expected credit losses) 59,787 38,978 59,787 38,978 Other receivables: Prepayments, tax credits and other: Receivables related to the transfer of conventional assets (1) 86,043 — VAT 19,713 22,939 Income tax 13,409 2,921 Prepaid expenses and other receivables 9,381 13,864 Turnover tax 385 634 128,931 40,358 Financial assets: Accounts receivable from third parties 7,804 2,172 Receivables from joint operations 6,581 3,854 Gas IV Plan (Note 2.5.3.1) 1,245 3,772 Advances to directors and loans to employees 557 444 Other 197 828 16,384 11,070 Other receivables 145,315 51,428 Total current trade and other receivables 205,102 90,406 (1) Related to the accounts receivable recognized as a result of the Transaction mentioned in Note 1.2.1. (2) Related to the Duplicar Plus Project implemented by Oleoductos del Valle S.A. (“Oldelval”) (Note 28.1 and 33) (3) As of December 31, 2023, includes 14,292 related to prepayment of leases. Due to the short-term nature of current trade and other receivables, t h e The fair values of noncurrent trade and other receivables do not differ significantly from its carrying amounts either. As of December 31, 2023, in general accounts receivable has a 19-day 50-day The Company sets up a provision for trade receivables when there is information showing that the debtor is facing severe financial difficulties and that there is no realistic probability of recovery, for example, when the debtor goes into liquidation or files for bankruptcy proceedings. Trade receivables that are derecognized are not subject to compliance activities. The Company recognized an allowance for expected credit losses of 100% against all trade receivables that are 90 (ninety) days past due because based on its history these receivables are generally not recovered. As of December 31, 2023 and 2022 the provision for expected credit losses was recorder for 52 and 231 respectively. The changes in the allowance for expected credit losses of trade and other receivables are as follows: As of December 31, As of December 31, Amounts at beginning of year (231 ) (406 ) Allowances for expected credit losses (Note 7) — 36 Foreign exchange differences 179 139 Amounts at end of year (52 ) (231 ) As of the date of these consolidated financial statements, maximum exposure to credit risk is related to the carrying amount of each class of accounts receivable. |
Financial assets and liabilitie
Financial assets and liabilities | 12 Months Ended |
Dec. 31, 2023 | |
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Financial assets and liabilities | Note 18. Financial assets and liabilities 18.1 Borrowings: As of December 31, As of December 31, Noncurrent Borrowings 554,832 477,601 Total noncurrent 554,832 477,601 Current Borrowings 61,223 71,731 Total current 61,223 71,731 Total Borrowings 616,055 549,332 Below are the maturity dates of Company borrowings (excluding lease liabilities) and their exposure to interest rates: As of December 31, As of December 31, Fixed interest Less than 1 year 60,373 48,588 From 1 to 2 years 81,900 154,895 From 2 to 5 years 392,550 232,279 Over 5 years 55,382 65,427 Total 590,205 501,189 Variable interest Less than 1 year 850 23,143 From 1 to 2 years — — From 2 to 5 years 25,000 25,000 Over 5 years — — Total 25,850 48,143 Total Borrowings 616,055 549,332 See Note 18.5.2 for information on the fair value of the borrowings. The carrying amount of borrowings as of December 31, 2023 and 2022 of the Company through its subsidiary Vista Argentina, is as follows: Company Execution date Currency Principal Interest Annual rate Maturity date As of December 31, As of December 31, Banco Galicia, Banco Itaú Unibanco, Banco Santander Rio and Citibank NA (1) July, 2018 USD 150,000 Variable LIBO + 4.50 % July, 2023 — 69,121 150,000 Fixed 8.00 % Santander International January, 2021 USD 11,700 Fixed 1.80 % January, 2026 68 (2) (4) 68 (2) Santander International July, 2021 USD 43,500 Fixed 2.05 % July, 2026 79 (2) (4) 79 (2) Santander International January, 2022 USD 13,500 Fixed 2.45 % January, 2027 28 (2) (4) 28 (2) ConocoPhillips Company January, 2022 USD 25,000 Variable SOF + 2.01 (3) % September, 2026 25,850 (4) 25,594 Total 26,025 94,890 (1) As of December 31, 2022, the Company should m e (i) The ratio of consolidated net debt to consolidated EBITDA (“Earnings Before Interest, Tax, Depreciation and Amortization.”). (ii) The consolidated interest coverage rate as of the last day of every tax quarter. The consolidated interest coverage rate is the proportion of (a) consolidated EBITDA to (b) consolidated interest expenses for the period. This credit facility includes covenants restricting, but not prohibiting, among other things, Vista Argentina, Vista Holding I, Vista Holding II, Aluvional and AFBN, and the Company’s ability to: (i) incur or guarantee additional debt; (ii) create liens on its assets to secure debt; (iii) dispose of assets (iv) merge or consolidate with another person or sell or otherwise dispose of all or substantially all of its assets; (v) change their existing line of business (vi) declare or pay any dividends or return any capital; (vii) make investments; (viii) enter into transactions with affiliates; and (ix) change their existing accounting practices. As of December 31, 2022, there was no non-compliance (2) The carrying amount is related to interest, and the principal is collateralized. (3) Secured Overnight Financing Rate (“SOFR”), which replaces LIBOR as of June 30, 2023. (4) See Note 33. Moreover, Vista Argentina issued ON, under the name “ Programa de Notas Instrument Execution date Currency Principal Interest Annual Maturity date As of December 31, As of December 31, ON III February, 2020 USD 50,000 Fixed 3.50 % February, 2024 — (1) 9,607 ON VI December, 2020 USD-linked (2) 10,000 Fixed 3.24 % December, 2024 9,997 (5) 9,968 ON VII March, 2021 USD 42,371 (3) Fixed 4.25 % March, 2024 — 42,200 ON VIII March, 2021 ARS 3,054,537 (4) Fixed 2.73 % September, 2024 — (1) 45,185 ON X June, 2021 ARS 3,104,063 (4) Fixed 4.00 % March, 2025 — (1) 40,765 ON XI August, 2021 USD-linked (2) 9,230 Fixed 3.48 % August, 2025 9,231 (5) 9,214 ON XII August, 2021 USD-linked (2) 100,769 Fixed 5.85 % August, 2031 102,556 (5) 102,504 ON XIII June, 2022 USD 43,500 Fixed 6.00 % August, 2024 43,458 43,211 ON XIV November, 2022 USD 40,511 Fixed 6.25 % November, 2025 36,484 36,408 ON XV December, 2022 USD 13,500 Fixed 4.00 % January, 2025 13,476 (5) 13,413 Instrument Execution date Currency Principal Interest Annual Maturity date As of December 31, As of December 31, ON XVI December, 2022 USD-linked (2) 63,450 Fixed 0.00 % June, 2026 63,231 63,079 May, 2023 USD-linked (2) 40,785 (3) Fixed 0.00 % June, 2026 40,525 — ON XVII December, 2022 USD-linked (2) 39,118 Fixed 0.00 % December, 2026 38,948 38,888 ON XVIII March, 2023 USD-linked (2) 118,542 Fixed 0.00 % March, 2027 117,979 — ON XIX March, 2023 USD-linked (2) 16,458 Fixed 1.00 % March, 2028 16,396 (5) — ON XX June, 2023 USD 13,500 Fixed 4.50 % July, 2025 13,357 (5) — ON XXI August, 2023 USD-linked (2) 70,000 Fixed 0.99 % August, 2028 69,749 (5) — ON XXII December, 2023 USD 14,669 Fixed 5.00 % June, 2026 14,643 — Total ON 590,030 454,442 Total Borrowings 616,055 549,332 (1) As of December 31, 2023 the Company pre- (2) Subscribed in USD, payable in ARS at the exchange rate applicable on maturity date. (3) On May 29, 2023, the Company settled ON VII by: (i) issuing additional ON XVI for 40,785 (which generated no cash flows); and (ii) paid reminder principal and interests. The Company recognized On December 6, 2022, the Company settled ON V and IX for a total amount of 68,787, out of which: i) 60,935 issued ON XVI and; ii) 7,852 are related to the payment of principal remaining. Therefore, the Company issued ON XVI for a total amount of 63,450, out which: i) 60,935 are related to the swap mentioned above and; ii) 2,515 related to the loss from the issuance (Note 11.3). (4) Amount in UVA, adjusted by CER (Note 11.3). (5) See Note 33. Under the aforementioned program, Vista Argentina may list ON in Argentina for a total principal up to 800,000 or its equivalent in other currencies at any time. 18.2 Changes in liabilities from financing activities Changes in the borrowings were as follows: As of December 31, As of December 31, Amounts at beginning of year 549,332 610,973 Proceeds from borrowings (1) 358,954 228,614 Borrowings interest (2) 21,879 28,886 Payment of borrowing cost (1,779 ) (1,670 ) Payment of interest (22,993 ) (34,430 ) Payment of principal (1) (252,284 ) (294,917 ) Amortized cost (2) 1,810 2,365 Remeasurement in borrowings (2) (3) 72,044 52,817 Changes in foreign exchange rate (2) (3) (111,727 ) (45,821 ) Other financial expense (2) 819 2,515 Amounts at end of year 616,055 549,332 (1) As of December 31, 2023, borrowings received, and principal payments include 40,785 related to the ON swapping mentioned in Note 18.1. These transactions did not generate cash flows. As of December 31. 2022, borrowings received, and principal payments include 99,826 related to the ON swapping mentioned in Note 18.1. These transactions did not generate cash flows. (2) These transactions did not generate cash flows. (3) Related to ON VIII and X, which amounts were in UVA and adjusted by CER. As of December 31, 2023, they were pre- 18.3 Warrants Along with the issuance of Series A ordinary shares in the Initial Public Offering (“IPO”), the Company placed 65,000,000 warrants to purchase a third of Series A ordinary shares at an exercise price of 11.50 USD/share (the “Series A warrants.”). Under those terms they expired on April 4, 2023, or earlier if after the exercise option the closing price of a Series A share is equal to or higher than the price equal to USD 18.00 during 20 trading days within a 30-day 10-day Almost at the same time, the Company’s promoters purchased 29,680,000 warrants to purchase a third of Series A ordinary shares at an exercise price of 11.50 USD/share (the “warrants”) for 14,840 in a private placement made at the same time as the IPO closing in Mexico. Warrants are identical and fungible with Series A warrants; however, the former could have differences regarding the early termination and may be exercised for cash or no cash for a variable number of Series A shares at the discretion of the Company’s promoters or authorized assignees. If warrants are held by other persons, then they will be exercised on the same basis as the other securities. The warrants exercise period began on August 15, 2018. On February 13, 2019, the Company completed the sale of 5,000,000 warrants for the purchase of a third of Series A ordinary shares in agreement with the forward purchase agreement and certain subscription commitment at an exercise price of 11.50 USD/share (the “warrants”). On October 4, 2022 the meeting of holders of the Warrants issued by the Company (identified with the ticker symbol “VTW408A-EC001” - the “Warrants”), approved the amendments to the warrant indenture and the global certificate that covers such Warrants, by means of which a cashless exercise mechanism was implemented that entitles the holders, to obtain 1 (one) Series A share representative of the capital stock of the Company for each 31 (thirty one) Warrants owned. As of October 4, 2022, the liability for warrants was settled for 32,894, an amount equal to the 3,215,483 series “A” shares and was recognized under “Other equity instruments” (Note 18.5.1 and 21.1). Thus, for the years ended December 31, 2023, and 2022, a total of 1,176,811 and 2,038,643 Series A shares were issued, respectively. They have no nominal value (Note 21.1). As of the date of these consolidated financial statements, there are no optional stocks pending to be exercised or outstanding. 18.4 Financial instruments by category The following chart includes the financial instruments broken down by category: As of December 31, 2023 Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Assets Plan assets (Note 23) — 5,438 5,438 Trade and other receivables (Note 17) 3,284 — 3,284 Total noncurrent financial assets 3,284 5,438 8,722 Cash, bank balances and other short-term investments (Note 20) 35,292 156,163 191,455 Trade and other receivables (Note 17) 76,171 — 76,171 Total current financial assets 111,463 156,163 267,626 Liabilities Borrowings (Note 18.1) 554,832 — 554,832 Lease liabilities (Note 15) 35,600 — 35,600 Total noncurrent financial liabilities 590,432 — 590,432 Borrowings (Note 18.1) 61,223 — 61,223 Trade and other payables (Note 26) 205,055 — 205,055 Lease liabilities (Note 15) 34,868 — 34,868 Total current financial liabilities 301,146 — 301,146 As of December 31, 2022 Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Assets Plan assets (Note 23) — 5,703 5,703 Trade and other receivables (Note 17) 801 — 801 Total noncurrent financial assets 801 5,703 6,504 Cash, bank balances and other short-term investments (Note 20) 17,606 202,869 220,475 Trade and other receivables (Note 17) 50,048 — 50,048 Total current financial assets 67,654 202,869 270,523 Liabilities Borrowings (Note 18.1) 477,601 — 477,601 Lease liabilities (Note 15) 20,644 — 20,644 Total noncurrent financial liabilities 498,245 — 498,245 Borrowings (Note 18.1) 71,731 — 71,731 Trade and other payables (Note 26) 221,013 — 221,013 Lease liabilities (Note 15) 8,550 — 8,550 Total current financial liabilities 301,294 — 301,294 Below are income, expenses, profit, or loss from each financial instrument: For the year ended December 31, 2023: Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Interest income (Note 11.1) 1,235 — 1,235 Interest expense (Note 11.2) (21,879 ) — (21,879 ) Amortized cost (Note 11.3) (1,810 ) — (1,810 ) Net changes in foreign exchange rate (Note 11.3) 18,458 — 18,458 Discount of assets and liabilities at present value (Note 11.3) 2,137 — 2,137 Changes in the fair value of financial assets (Note 11.3) — 19,437 19,437 Interest expense on lease liabilities (Note 11.3) (2,894 ) — (2,894 ) Discount for well plugging and abandonment (Note 11.3) (2,387 ) — (2,387 ) Remeasurement in borrowings (Note 11.3) (72,044 ) — (72,044 ) Other (Note 11.3) (26,381 ) — (26,381 ) Total (105,565 ) 19,437 (86,128 ) For the year ended December 31, 2022: Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Interest income (Note 11.1) 809 — 809 Interest expense (Note 11.2) (28,886 ) — (28,886 ) Amortized cost (Note 11.3) (2,365 ) — (2,365 ) Changes in the fair value of warrants (Note 11.3) — (30,350 ) (30,350 ) Net changes in foreign exchange rate (Note 11.3) 33,263 — 33,263 Discount of assets and liabilities at present value (Note 11.3) (2,561 ) — (2,561 ) Changes in the fair value of financial assets (Note 11.3) — (17,599 ) (17,599 ) Interest expense on lease liabilities (Note 11.3) (1,925 ) — (1,925 ) Discount for well plugging and abandonment (Note 11.3) (2,444 ) — (2,444 ) Remeasurement in borrowings (Note 11.3) (52,817 ) — (52,817 ) Other (Note 11.3) 9,242 — 9,242 Total (47,684 ) (47,949 ) (95,633 ) For the year ended December 31, 2021: Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Interest income (Note 11.1) 65 — 65 Interest expense (Note 11.2) (50,660 ) — (50,660 ) Amortized cost (Note 11.3) (4,164 ) — (4,164 ) Changes in the fair value of warrants (Note 11.3) — (2,182 ) (2,182 ) Net changes in foreign exchange rate (Note 11.3) 14,328 14,328 Discount of assets and liabilities at present value (Note 11.3) (2,300 ) (2,300 ) Changes in the fair value of financial assets (Note 11.3) — 5,061 5,061 Interest expense on lease liabilities (Note 11.3) (1,079 ) — (1,079 ) Discount for well plugging and abandonment (Note 11.3) (2,546 ) — (2,546 ) Remeasurement in borrowings (Note 11.3) (19,163 ) — (19,163 ) Other (Note 11.3) 4,851 — 4,851 Total (60,668 ) 2,879 (57,789 ) 18.5 Fair value This note includes information on the Company’s method for assessing the fair value of its financial assets and liabilities. 18.5.1 Fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis The Company classifies the measurements at fair value of financial instruments using a fair value hierarchy, which shows the relevance of the variables applied to carry out these measurements. The fair value hierarchy has the following levels: • Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities; • Level 2: data other than the quoted prices included in Level 1 that are observable for assets or liabilities, either directly (that is prices) or indirectly (that is derived from prices); • Level 3: data on the asset or liability that are based on information that cannot be observed in the market (that is, non-observable The following chart shows the Company’s financial assets measured at fair value as of December 31, 2023 and 2022: As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Financial assets at fair value through profit or loss Plan assets 5,438 — — 5,438 Short-term investments 156,163 — — 156,163 Total assets 161,601 — — 161,601 As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Financial assets at fair value through profit or loss Plan assets 5,703 — — 5,703 Short-term investments 202,869 — — 202,869 Total assets 208,572 — 208,572 The value of financial instruments traded in active markets is based on quoted market prices as of the date of these accompanying consolidated financial statements. A market is considered active when quoted prices are available regularly through a stock exchange, a broker, a specific sector entity or regulatory agency, and these prices reflect regular and current market transactions between parties at arm’s length. The quoted market price used for financial assets held by the Company is the current offer price. These instruments are included in Level 1. For financial instruments not traded in an active market, the fair value is determined using appropriate valuation techniques. These valuation techniques maximize the use of observable market data, when available, and minimize the use of Company’s specific estimates. Should all significant variables used to establish the fair value of a financial instrument be observable, the instrument is included in Level 2. Should one or more variables used in determining the fair value not be observable in the market, the financial instrument is included in Level 3. There were no transfers between Level 1 and Level 2 from December 31, 2022, through December 31, 2023. As of December 31, 2022, the fair value of warrants was determined using the Black & Scholes model considering the expected volatility of the Company’s ordinary shares upon estimating the future volatility of Company share price. The risk-free interest rate for the expected useful life of warrants was based on the available return of benchmark government bonds with an equivalent remainder term upon the grant. The expected life was based on the contractual terms. The Company settled the financial liabilities for warrants as of December 31, 2022. Reconciliation of level 3 measurements at fair value: As of December 31, As of December 31, Amounts at beginning of year 2,544 362 Changes in the fair value of warrants (Note 11.3) 30,350 2,182 Other equity instruments (Note 18.3) (32,894 ) — Amounts at end of year — 2,544 18.5.2 Fair value of financial assets and liabilities that are not measured at fair value (but require fair value disclosures) Except for the information included in the following chart, the Company considers that the carrying amounts of financial assets and liabilities recognized in the consolidated financial statements approximate to its fair values, as explained in the related notes. As of December 31, 2023 Carrying Fair value Level Liabilities Borrowings 616,055 516,699 2 Total liabilities 616,055 516,699 As of December 31, 2022 Carrying Fair value Level Liabilities Borrowings 549,332 459,122 2 Total liabilities 549,332 459,122 18.6 Risk management objectives and policies concerning financial instruments 18.6.1 Financial risk factors The Company’s activities are exposed to several financial risks: market risk (including exchange rate risk, price risk and interest risk), credit risk and liquidity risk. Financial risk management is included in the Company’s global policies, and it adopts a comprehensive risk management policy focused on tracking risks affecting the entire Company. This strategy aims at striking a balance between profitability targets and risk exposure levels. Financial risks are derived from the financial instruments to which the Company is exposed during period-end year-end. The Company’s financial department controls financial risk by identifying, assessing and covering financial risks. The risk management systems and policies are reviewed regularly to show the changes in market conditions and the Company’s activities. This section includes a description of the main risks and uncertainties, which may adversely affect the Company’s strategy, performance, operational results and financial position. 18.6.1.1 Market risk (i) Exchange rate risk The Company’s financial position and results of operations are sensitive to exchange rate changes between USD and ARS. As of December 31, 2023 and 2022, the Company performed foreign exchange currency and the impact in the results of the year is recognized in the consolidated statement of profit or loss in “Other financial income (expense)”. Most Company revenues are denominated in USD, or the changes in sales follow the changes in USD listed price. During the years ended December 31, 2023, and 2022, ARS depreciated by about 356% and 72%, respectively. The following chart shows the sensitivity to a modification in the exchange rate of ARS to USD while maintaining the remainder variables constant. Impact on profit before taxes is related to changes in the fair value of monetary assets and liabilities denominated in currencies other than the USD, the Company’s functional currency. The Company’s exposure to changes in foreign exchange rates for the remainder currencies is immaterial. As of December 31, 2023 As of December 31, 2022 Changes in exchange rate +/- 10% +/- 10% Effect on profit before income taxes 658 / (658) 22,938 / (22,938) Effect on equity before income taxes 658 / (658) 22,938 / (22,938) Inflation in Argentina As of December 31, 2023, and 2022, the 3 (three)-year cumulative inflation rate stood at about 814%, and 300%, respectively. (ii) Price risk The Company’s investments in financial assets classified “at fair value through profit or loss” are sensitive to the risk of changes in market prices derived from uncertainties on the future value of these financial assets. The Company estimates that provided that the remainder variables remain constant, a revaluation (devaluation) of each market price detailed below will give rise to the following increase (decrease) in profit (loss) for the year before taxes in relation to the financial assets at fair value through profit or loss detailed in Note 18.5 to the consolidated financial statements: As of December 31, 2023 As of December 31, 2022 Changes in government bonds +/- 10% +/- 10% Effect on profit before income tax 374 / (374) 243 / (243) Changes in mutual funds +/- 10% +/- 10% Effect on profit before income tax 15,243 / (15,243) 20,044 / (20,044) (iii) Interest rate risk The purpose of interest rate risk management is to minimize finance costs and limit the Company’s exposure to interest rate increases. For the years ended December 31, 2023, and 2022 the average interest rate was 100% and 57%, respectively. Variable-rate indebtedness exposes the Company’s cash flows to interest rate risk due to the potential volatility. Fixed-rate indebtedness exposes the Company to interest rate risk on the fair value of its liabilities as they could be considerably higher than variable rates. As of December 31, 2023, and 2022, about 4% and 9% of indebtedness was subject to variable interest rates. For the years ended December 31, 2023 and 2022, the variable interest rate of loans denominated in USD stood at 9.32% and 4.55%, respectively. For the year ended December 31, 2022, the variable rate of loans denominated in ARS stood at 36.31%. The Company expects to lessen its interest rate exposure by analyzing and assessing (i) the different sources of liquidity available in domestic and international financial and capital markets (if available); (ii) alternative (fixed or variable) interest rates, currencies and contractual terms available for companies in a sector, industry and risk similar to the Company’s; and (iii) the availability, access and cost of interest rate hedge contracts. Hence, the Company assesses the impact on profit or loss of each strategy on the obligations that represent the main positions to the main interest-bearing positions. The Company considers that the risk of an increase in interest rates is low; therefore, it does not expect substantial debt risk. For the years ended December 31, 2023 and 2022, the Company did not use derivative financial instruments to mitigate interest rate risks. 18.6.1.2 Credit risk The Company establishes credit limits according to Management definitions based on internal or external ratings. It performs ongoing credit assessments on the customers’ financial capacity, which minimizes the potential risk of doubtful accounts. The customer’s credit risk is managed according to the Company’s procedures and controls. Pending accounts receivable are monitored on a regular basis. Credit risk represents the exposure to potential losses from customer noncompliance with the obligations assumed. This risk is mainly derived from economic and financial factors. The Company established a reserve for expected credit losses that represents the best estimate of potential losses related to trade and other receivables. The Company has the following credit risk concentration with respect to its interest in all receivables as of December 31, 2023, and 2022, and revenue per year. As of December 31, 2023 As of December 31, 2022 Percentages to total trade receivables: Customers Raizen Argentina S.A. 41 % 32 % PEMEX 21 % 18 % ENAP Refinerías S.A. 18 % - % Trafigura 7 % 19 % Cinergia Chile S.p.a 1 % 10 % For the year ended December 31, 2023 For the year ended December 31, 2022 Percentages to revenue from contracts with customers per product: Crude oil Raizen Argentina S.A. 24 % 20 % Trafigura 16 % 26 % Trafigura Pte LTD 16 % 21 % Valero Marketing and Supply Company 10 % 8 % Repsol Trading USA Corp. 10 % - % Natural gas Cinergia Chile S.p.a 30 % 22 % CAMMESA 8 % 7 % Rafael G. Albanesi S.A. 6 % 8 % Generación Mediterránea S.A. - % 9 % No other individual customer has an interest in total trade receivables or revenue exceeding 10% for the years reported. The Company keeps no securities as insurance. It assesses risk concentration with respect to trade and other receivables as high because its customers are concentrated as detailed below. Below is the information on the credit risk exposure of the Company’s trade receivables (Note 17): As of December 31, 2023 To fall due Less than 90 days More than 90 days Total Gross amount at default of oil and gas accounts receivable 57,873 1,914 52 59,839 Expected credit losses — — (52 ) (52 ) Net amount at default of oil and gas accounts receivable 59,787 As of December 31, 2022 To fall due Less than 90 days More than 90 days Total Gross amount at default of oil and gas accounts receivable Expected credit losses 32,921 6,057 231 39,209 Net amount at default of oil and gas accounts receivable — — (231 ) (231 ) 38,978 The credit risk of mutual funds and other financial investments is limited since the counterparties are banks with high credit ratings. If there are no independent risk ratings, the risk control area assesses the customer’s solvency based on prior experiences and other factors. 18.6.1.3 Liquidity risk Liquidity risk is related to the Company’s capacity to finance its commitments and carry out its business plans with stable financial sources, indebtedness level and the maturity profile of the financial payable. The Company’s Finance department makes cash flow projections. The Company supervises the updated projections on liquidity requirements to ensure the sufficiency of cash and liquid financial instruments to meet operating needs. These projections consider the plans to finance if applicable, external regulatory or legal requirements, such as, for example, restrictions in the use of foreign currency. Excess cash flow and the amounts above the working capital requirement are managed by the Finance department that mainly invests the surplus in mutual funds and money market funds by choosing instruments with timely due dates and currencies and proper credit quality and liquidity to provide sufficient margin according to the aforementioned projections. The Company diversifies its sources of funding between banks and capital markets and is exposed to refinancing risk upon expiry. Below is the assessment of the Company’s liquidity risk as of December 31, 2023, and 2022: As of December 31, 2023 As of December 31, 2022 Current assets 425,904 347,690 Current liabilities 359,386 408,344 Liquidity index 1.185 0.852 The following table includes an analysis of the Company’s financial liabilities grouped according to their maturity dates and considering the remainder period until contractual expiry date as from the date of the consolidated financial statements. The amounts included in the table are no discounted contractual cash flows. As of December 31, 2023 Financial liabilities except borrowings Borrowings Total To fall due: Less than 1 year 239,923 61,223 301,146 From 1 to 2 years 11,898 81,900 93,798 From 2 to 5 years 16,120 417,550 433,670 Over 5 years 7,582 55,382 62,964 Total 275,523 616,055 891,578 As of December 31, 2022 Financial liabilities except borrowings Borrowings Total To fall due: Less than 1 year 229,563 71,731 301,294 From 1 to 2 years 5,147 154,895 160,042 From 2 to 5 years 9,998 257,279 267,277 Over 5 years 5,499 65,427 70,926 Total 250,207 549,332 799,539 18.6.1.4 Other risks Access to the foreign exchange market in Argentina Below is the regulatory framework established by the Central Bank of Argentina (“BCRA” by Spanish acronym) during the years ended December 31, 2023 and 2022, whereby it introduced certain restrictions and adjustments on hoarding and consumption of currencies other than the Argentine peso, and for the acquisition of currency that may be accessed by the Company: (i) Communiqué “A” 7532, as supplemented On June 27, 2022, through Communiqué “A” 7532, the BCRA introduced as an additional requirement for customer transactions subject to the comprehensive system for monitoring foreign payments of services (“SIMPES” by Spanish acronym) that the entity may provide access to the foreign exchange market insofar as any of the following conditions is met: (a) the Company has the customer’s sworn statement evidencing that the accumulated amount (including the payment to be made and those made by the client through the foreign exchange market for the items subject to the SIMPES in the current calendar year) does not exceed the amount that arises from considering: (i) the proportional portion, accrued through the current month, of all payments made by the importer in 2021 for all items included. Should the latter be smaller than 50,000 (fifty thousand), this amount or the annual cap will be used, whichever lower (ii) less the amount outstanding to date for letters of credit or endorsed bills in its name by local financial entities for service imports; (b) The payment meets the following conditions: (i) it may be classified under the methods provided for in points 3.18 and 3.19 of the revised foreign trade and foreign exchange regulations; (ii) it is related to items “S08. Prima de seguros” (insurance premiums) and “S09. Pago de siniestros” (claim payment), and (iii) it is made within 180 (one hundred and eighty) days as from the actual service provision. However, Communiqué “A” 7547, of July 14, 2022, reduces the term to 60 (sixty) calendar days in case of services hired from non-residents (c) The customer (i) gains access simultaneously by settling a new financial payable abroad with an average life no less than 180 (one hundred and eighty) days and at least 50% of principal falls due after the actual service provision plus 90 (ninety) days; (ii) gains access with funds from financing of service imports granted by a local financial institution from a trade credit line abroad with an average life no less than 180 90 As of the date of issuance of these consolidated financial statements, Communiqué “A” 7532, as amended, remains effective. (ii) Communiqué “A” 7552, as supplemented On July 21, 2022, through Communiqué “A” 7552, the BCRA included the holding of Argentine certificates of deposit (“CEDEARs” by Spanish acronym) in the availability cap of 100,000 (one thousand) for those who access the official foreign exchange market. The Company should also have a sworn statement detailing the natural or artificial persons who exert a direct control over the customer, and the evidence of the day when market access is requested, validating that in the previous 90 (ninety) calendar days in the case of securities issued under Argentine laws, and 180 (one hundred and eighty) calendar days in the case of securities issued under foreign laws: (a) it has not sold in Argentina securities settled in foreign currency; (b) it has not swapped securities issued by residents for external assets; (c) it did not transfer securities to entities abroad; (d) it has not acquired in Argentina securities issued by non-residents To prepare these tax returns, the following should not be considered: (i) the transfers of securities to foreign entities made by the client to swap debt securities issued by the Argentine government, or resident issuers in the private sector provided that the client undertakes to file the related certificate for the debt securities swapped; (ii) the delivery of local assets to settle a payable to a financial institution abroad, and/or (iii) the sales of securities acquired in foreign currency in Argentina or abroad when all the funds obtained from such settlements are used, or will be used, for the following transactions within 10 (ten) calendar days: a) Payments at maturity of principal or interest to foreign parties made as from October 2, 2023, which provides for at least one-year b) Capital and income repatriation related to direct investments by non-residents c) Payments at maturity of principal or interest on debt securities issued as from October 2, 2023, with public registration in Argentina, denominated and subscribed in foreign currency, payable in Argentina and th |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Inventories | Note 19. Inventories As of December 31, 2023 As of December 31, 2022 Materials and spare parts 4,651 8,177 Crude oil stock (Note 6.2) 2,664 4,722 Assigned crude oil stock 234 — Total inventories 7,549 12,899 |
Cash, bank balances and other s
Cash, bank balances and other short-term investments | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Cash, bank balances and other short-term investments | Note 20. Cash, bank balances and other short-term investments As of December 31, 2023 As of December 31, 2022 Mutual funds 152,426 202,165 Money market funds 35,292 15,881 Cash in banks 21,798 23,910 Government bonds 3,737 2,429 Total cash, bank balances and other short-term investments 213,253 244,385 Cash and cash equivalents include cash on hand and at bank and investments maturing within 3 (three) months. For the consolidated statement of cash flows purposes below is the reconciliation between cash, bank and short-term investments and cash and cash equivalents: As of December 31, 2023 As of December 31, 2022 Cash, bank balances and other short-term investments 213,253 244,385 Less Government bonds (3,737 ) (2,429 ) Cash and cash equivalents 209,516 241,956 |
Capital stock and capital risk
Capital stock and capital risk management | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Capital stock and capital risk management | Note 21. Capital stock and capital risk management 21.1 Capital stock The following chart shows a reconciliation of the movements in the Company’s capital stock for the years ended December 31, 2023, 2022 and 2021: Series A Series C Total Amounts as of December 31, 2020 659,400 — 659,400 Number of shares 87,851,286 2 87,851,288 Reduction of capital stock (72,695 ) — (72,695 ) Number of shares — — — Series A shares to be granted in LTIP 1 — 1 Number of shares 778,591 — 778,591 Amounts as of December 31, 2021 586,706 — 586,706 Number of shares 88,629,877 2 88,629,879 Reduction of capital stock (39,530 ) — (39,530 ) Number of shares — — — Cashless exercises of warrant — — — Number of shares 2,038,643 — 2,038,643 Share repurchase (29,304 ) — (29,304 ) Number of shares repurchased (3,234,163 ) — (3,234,163 ) Series A shares to be granted in LTIP 1 — 1 Number of shares 972,121 — 972,121 Amounts as of December 31, 2022 517,873 — 517,873 Number of shares 88,406,478 2 88,406,480 Cashless exercises of warrants — — — Number of shares 1,176,811 — 1,176,811 Series A shares to be granted in LTIP 1 — 1 Number of shares 5,772,141 — 5,772,141 Amounts as of December 31, 2023 517,874 — 517,874 Number of shares 95,355,430 2 95,355,432 1) Series A Shares On December 14, 2021, the Shareholders’ Meeting approved the reduction of the variable portion of the Company’s capital stock of 72,695, for the absorption of accumulated losses as of September 30, On September 27, 2022, the Board of Directors Meeting approved the reduction of the variable portion of the Company’s capital stock of 39,530, for the absorption of accumulated losses as of August 31, 2022, shown on the Company’s nonconsolidated financial statements. On December 7, 2022, through Ordinary General Shareholders’ Meeting this transaction was ratified. This transaction did not require the cancellation of Series A shares as they have no nominal value. Likewise, this operation did not generate any tax effect in Mexico. On October 4, 2022 the meeting of holders of the Warrants issued by the Company (identified with the ticker symbol “VTW408A-EC001” – the “Warrants”), approved the amendments to the warrant indenture and the global certificate that covers such Warrants, by means of which a cashless exercise mechanism was implemented that entitles the holders, to obtain 1 Series A share representative of the capital stock of the Company for each 31 Warrants owned (Note 18.3). As a result, a maximum of 3,215,483 shares will become outstanding once all Warrants are converted. Similarly, on March 2, 2023, the CNBV authorized the automatic exercise without cash payment, so on March 15, 2023, by virtue of this automatic exercise, all outstanding warrants were exercised. Therefore, as of the date of these consolidated financial statements, there are no outstanding warrants. Thus, as of December 31, 2023, and 2022, 1,176,811 and 2,038,643 Series A shares were issued, respectively. They have no nominal value and the resulting amount of this swap, which stands at 32,144, is disclosed in “Other equity instruments.” During the year ended as of December 31, 2022, the Company repurchased 3,234,163 Series “A” share for a total amount of 29,304, which are held in treasury. This operation did not generate any tax effect in Mexico. For the years ended December 31, 2023, and 2022, the Company granted 5,772,141 and 972,121 Serie A shares related to the LTIP. As of December 31, 2023, and 2022, the Company’s variable capital stock amounts to 95,355,430 and 88,406,478 fully subscribed and paid Series A shares with no face value, respectively, each entitled to one vote. As of December 31, 2023, and 2022, the Company’s authorized capital includes 33,436,809 and 40,385,761 Series A ordinary shares held in Treasury respectively. 2) Series C The variable portion of capital stock is an unlimited amount according to the Company’s bylaws and laws applicable, whereas the fixed amount is divided into 2 Class C shares. On March 17, 2023, Vista concluded a transaction that resulted in the acquisition of 2 (two) series C outstanding shares according to the share buy-back 21.2 Legal reserve and share repurchase reserve Under Mexican Business Associations Law, the Company is required to allocate 5% of net profit for the year to increase the legal reserve until it is equal to 20% of capital based on the Company’s nonconsolidated financial statements. On April 26, 2022, through the Ordinary and Extraordinary General Shareholders’ Meeting, the Company’s shareholders approved the creation of a fund to acquire own shares for 23,840, and the creation of the legal reserve for 1,255, both based on the Company’s nonconsolidated financial statements. On December 7, 2022, through the Ordinary General Shareholders’ Meeting, the Company’s shareholders approved an increase of a fund to acquire own shares for 25,625 and the increase of the legal reserve for 1,348, both based on the Company’s nonconsolidated financial statements. On April 24, 2023, through the Ordinary and Extraordinary General Shareholders’ Meeting, the Company’s shareholders approved an increase of a fund to acquire own shares for 29,859, and the increase of the legal reserve for 5,630, both based on the Company’s nonconsolidated financial statements. 21.3 Capital risk management Upon managing its capital, the Company aims at protecting its capacity to continue operating as a going concern and generate profit for its shareholders and benefits for other stakeholders, as well as maintain an optimal capital structure. The Company monitors its capital based on the leverage ratio. This ratio is calculated by dividing: (i) the net debt (borrowings and liabilities for leases less cash, banks and short-term investments) by (ii) total equity. The leverage ratio as of December 31, 2023, and 2022, is as follows: As of December 31, 2023 As of December 31, 2022 Total borrowings and lease liabilities 686,523 578,526 Less: Cash, bank balances and other short-term investments (213,253 ) (244,385 ) Net debt 473,270 334,141 Total equity 1,247,015 844,060 Leverage ratio 37.95 % 40.00 % No changes were made in capital management objectives, policies or processes for the years ended December 31, 2023, and 2022. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Provisions | Note 22. Provisions As of December 31, 2023 As of December 31, 2022 Noncurrent Well plugging and abandonment 12,191 31,389 Environmental remediation 148 279 Total noncurrent provisions 12,339 31,668 As of December 31, 2023 As of December 31, 2022 Current Well plugging and abandonment 3,096 1,135 Environmental remediation 936 1,542 Contingencies 101 171 Total current provisions 4,133 2,848 22.1 Provision for well plugging and abandonment According to applicable regulations in the countries where the Company (either directly or indirectly through its subsidiaries) conducts oil and gas exploration and production activities, it should carry costs related to well plugging and abandonment. As of December 31, 2023 and 2022, the Company has a trust to plug and abandon wells in Mexico; however, it did not grant any asset as security to settle these obligations in Argentina. The provision for well plugging and abandonment represents the present value of dismantling costs related to oil and gas properties expected to be incurred through the end of each concession, when oil and gas producing wells are expected to cease operations. These provisions were created based on the operator’s or the Company’s internal estimates, as appropriate. Assumptions based on the current economic context were made, so the Company considers that it is a reasonable basis to estimate future liabilities. These estimates are reviewed periodically to consider substantial changes in assumptions. However, the actual costs of well plugging and abandonment will ultimately depend on future market prices for the plugging and abandonment works needed. Moreover, wells will probably be plugged and abandoned when plots of land cease to produce at economically feasible rates. They will also depend on Crude oil and Natural gas future prices, which are uncertain by nature. The discount rate used in calculating the provision as of December 31, 2023, ranges between 4.40% and 11.09% whereas it ranges between 8.54% and 11.13% as of December 31, 2022. The Company conducted a sensibility analysis related to the discount rate. The increase or decrease of such rate by 1% would have no significant impact on well plugging and abandonment. Below are the changes in the provision for well plugging and abandonment for the year: As of December 31, 2023 As of December 31, 2022 Amounts at beginning of year 32,524 30,796 Discount for well plugging and abandonment (Note 11.3) 2,387 2,444 (Decrease) in the change in capitalized estimates (Note 13) (930 ) (713 ) (Decrease) in the change in estimates of conventional assets (1) (18,697 ) — Foreign exchange differences 3 (3 ) Amounts at end of year 15,287 32,524 (1) According to Note 1.2.1, the Company carries a receiv a b w h 22.2 Provision for environmental remediation The Company performs environmental impact assessments for new projects and investments, and the environmental requirements and restrictions imposed on these new projects had no major adverse effects on the Company’s businesses to date. The Company conducted a sensibility analysis related to the discount rate. The increase or decrease of such rate by 1% would have no significant impact on the environmental remediation obligation. Below are the changes in the provision for environmental remediation for the year: As of December 31, 2023 As of December 31, 2022 Amounts at beginning of year 1,821 1,599 Increases (Note 10.2) 485 2,133 Increase in the change in estimates of conventional assets (1) 624 — Foreign exchange differences (1,846 ) (1,911 ) Amounts at end of year 1,084 1,821 (1) According to Note 1.2.1, the Company carries a receiv abl e with 22.3 Provision for contingencies The Company (directly or indirectly through its subsidiaries) is part of commercial, tax and labor litigations and claims arising from the ordinary course of business. Upon estimating the amounts and likelihood of occurrence, the Company considered its best estimate with the assistance of advisors. The assessment of the estimates may change in the future due to new developments or unknown events upon assessing the provision. Consequently, the adverse resolution of the proceedings and claims assessed could exceed the provision set. The Company’s total claims, and legal actions amount to 101 and 171, from which it has estimated a probable loss of 101 and 171 as of December 31, 2023 and 2022, respectively. The Company, considering its legal counsel’s opinion, estimates that the provision amount is sufficient to cover potential contingencies. It has booked a provision or disclosed all claims or other issues in these consolidated financial statements, either individually or in the aggregate. Below are the changes in the provision for contingencies for the year: As of December 31, 2023 As of December 31, 2022 Amounts at beginning of year 171 142 Increases (Note 10.2) 69 379 Amounts incurred for payments (46 ) (307 ) Foreign exchange differences (93 ) (43 ) Amounts at end of year 101 171 |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Employee benefits | Note 23. Employee benefits The employee benefit plans originally applies to Company employees that meet certain conditions, such as, for example, having participated uninterruptedly in the defined benefit plan, and that, having joined the Company before May 31, 1995, they have the required number of years in service and are therefore eligible to a certain amount according to plan provisions. It is based on the last computable salary and the number of years worked after deducting the benefits from the Argentine pension system managed by the Federal Social Security Administration (“ANSES” by Spanish acronym). Upon retirement, these employees are entitled to a monthly payment at constant value that is updated every year-end The plan is backed by assets deposited exclusively by the Company and with no employee contributions to the trust fund. Fund assets may be invested by the Company in monetary market instruments denominated in USD or certificates of deposit to preserve accumulated capital and obtain returns in line with a moderate risk profile. Funds are mainly invested in United States of America bonds, Treasury bonds and trade notes with quality ratings. The Bank of New York Mellon is the trustee, and Willis Towers Watson is the business agent. Should there be an excess (duly certified by an independent actuary) of funds to be used to settle the benefits granted under the plan, the Company will be entitled to use it, in which case the trustee should be notified. The following charts summarize the components of net expenses and the obligation recognized in the consolidated financial statements: Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Cost of services (25 ) (44 ) (28 ) Cost of interest (639 ) (458 ) (219 ) Settlement 364 — — Total (300 ) (502 ) (247 ) As of December 31, 2023 Present value of the obligation Fair value of asset’s plan Net liabilities Amounts at beginning of year (19,009 ) 6,758 (12,251 ) Items classified as loss or profit Cost of services (25 ) — (25 ) Cost of interest (909 ) 270 (639 ) Settlement 364 — 364 Items classified in other comprehensive income Actuarial remeasurement gain 6,213 352 6,565 Benefit payments 777 (777 ) — Payment of contributions 1,294 (1,011 ) 283 Amounts at end of year (11,295 ) 5,592 (5,703 ) As of December 31, 2022 Present value of the obligation Fair value of asset’s plan Net liabilities Amounts at beginning of year (15,416 ) 7,594 (7,822 ) Items classified as loss or profit Cost of services (44 ) — (44 ) Cost of interest (806 ) 348 (458 ) Items classified in other comprehensive income Actuarial remeasurement (losses) (3,911 ) (270 ) (4,181 ) Benefit payments 1,168 (1,168 ) — Payment of contributions — 254 254 Amounts at end of year (19,009 ) 6,758 (12,251 ) The fair value of asset’s plan as of every year end per category, is as follows: As of December 31, 2023 As of December 31, 2022 US government bonds 5,438 5,703 Cash and cash equivalents 154 1,055 Total 5,592 6,758 Below are the estimated payments of benefits expected for the next 10 (ten) years. The amounts in the chart show non discounted cash flows; thus, they do not reconcile with the obligations booked as of year-end: As of December 31, 2023 As of December 31, 2022 Less than 1 year 974 1,562 1 to 2 years 974 1,538 2 to 3 years 963 1,542 As of December 31, 2023 As of December 31, 2022 3 to 4 years 946 1,526 4 to 5 years 925 1,506 6 to 10 years 4,242 7,113 Below are the significant actuarial estimates used: As of December 31, 2023 As of December 31, 2022 Discount rate 5% 5% Asset rate of return 5% 5% Salary rise 1% 1% The following sensitivity analysis shows the effect of a variation in the discount rate and salaries increase on the obligation amount. (i) Should the discount rate be 1% higher (lower), the defined benefit obligation would decrease by 888 (increase by 1,034) (ii) Should the expected salary rise increase (decrease) by 1%, the defined benefit obligation would go up by 9 (go down by 9 ) (iii) Should the discount rate be 1% higher (lower), the defined benefit obligation would decrease by 1,560 (increase by 1,828) as of December 31, 2022. (iv) Should the expected salary rise increase (decrease) by 1%, the defined benefit obligation would go up by 82 (go down by 79) as of December 31, 2022. This sensitivity analysis was determined based on reasonably possible changes in the related assumptions as of every reporting year-end Moreover, upon filing the previous sensitivity analysis, the present value of the defined benefit obligation was calculated using the projected unit credit method as of every reporting year-end, The methods and types of assumptions used in preparing the sensitivity analysis did not change with respect to the previous year. |
Salaries and payroll taxes
Salaries and payroll taxes | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Salaries and payroll taxes | Note 24. Salaries and payroll taxes As of December 31, 2023 As of December 31, 2022 Current Provision for bonuses and incentives 12,657 17,599 Salaries and social security contributions 4,898 7,521 Total current salaries and payroll taxes 17,555 25,120 |
Other taxes and royalties
Other taxes and royalties | 12 Months Ended |
Dec. 31, 2023 | |
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Other taxes and royalties | Note 25. Other taxes and royalties As of December 31, 2023 As of December 31, 2022 Current Royalties and others 33,862 12,642 Tax withholdings 1,603 7,205 Other 1,084 465 Total current other taxes and royalties 36,549 20,312 |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2023 | |
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Trade and other payables | Note 26. Trade and other payables As of December 31, 2023 As of December 31, 2022 Current Accounts payable: Suppliers 204,696 196,484 Total current accounts payables 204,696 196,484 Other accounts payables: Payables to partners of joint operations 197 23,880 Extraordinary fee for Gas IV Plan 162 488 Payables to third parties (1) — 161 Total other current accounts payables 359 24,529 Total current trade and other payables 205,055 221,013 (1) Related to acquisition of 50% operating working interest in the unconventional concessions of Aguada Federal and Bandurria Norte mentioned in Note 29.2.5. Other than mentioned above, due to the short-term nature of current trade and other payables, their carrying amount is deemed to be the same as its fair value. The carrying amount of noncurrent trade and other payables does not differ considerably from its fair value. |
Related parties' transactions a
Related parties' transactions and balances | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Related parties' transactions and balances | Note 27. Related parties’ transactions and balances Note 2.3 provides information on the Company’s structure. As of December 31, 2023 and 2022, the Company carries no balances with related parties. Key management personnel remuneration Below are the amounts recognized in the consolidated statements of profit or loss and other comprehensive income related to Company key personnel: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Share-based payment transactions 18,618 13,119 8,875 Short-term benefits 13,959 12,990 11,626 Total compensation paid to key personnel 32,577 26,109 20,501 |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Commitments and contingencies | Note 28. Commitments and contingencies For a description of the Company’s commitments and contingencies related to its oil and gas properties (Note 29.4). 28.1 Duplicar Plus Project - Oldelval On December 21, 2022, the Company, through its subsidiary Vista Argentina, was awarded a crude oil transportation capacity of 5,010 m3/day under the project to extend the current line from Allen to Puerto Rosales implemented by Oldelval (transportation concession holder) for 50,000 m3/day. Thus, the Company undertook to make an upfront investment of 118,000 between 2023 and 2025; to be recovered from the service monthly fee. As of December 31, 2023, the Company made disbursements related to this commitment for a total amount of 34,660 recognized in “Trade and other receivables” under “Midstream prepaid expenses” (Note 17 and 33). 28.2 Project to expand the Puerto Rosales maritime terminal and pumping station On January 27, 2023, the Company was awarded a storage and dispatch capacity of 35,666 m3 and 5,944 m3/day, respectively, under the project to expand the Puerto Rosales marine terminal and pumping station in which Oiltanking Ebytem S.A. (“Oiltanking”) launched tenders for 300,000 m3 and 50,000 m3/day of storage and dispatching capacity, respectively. The Company undertook to make an upfront investment of 28,400 between 2023 and 2025, which will be later recovered from the monthly service fee as from 2026. As of December 31, 2023, the Company has made no disbursements related to this commitment. (Note 33). 28.3 “Vaca Muerta Norte” Pipeline Agreement On May 16, 2023, through its subsidiary Vista Argentina, the Company entered into an agreement with YPF S.A. (“YPF”), Equinor Argentina B.V. Sucursal Argentina (“Equinor”) and Shell Argentina S.A. (“Shell”) (jointly the “Parties”) , whereby YPF, in its capacity as the hydrocarbon transportation concession owner of the pipeline (the “Pipeline”) located in the Province of Neuquén from “La Amarga Chica” area to “Puesto Hernández” area (the “Transportation Concession”), assigns to the remainder parties an undivided interest of the rights and obligations over the Transportation Concession amounting to: (i) 3.5% (three point five percent) in favour of Equinor; (ii) 13.3% (thirteen point three percent) to Shell, and (iii) 8% (eight percent) to Vista Argentina (the “Assignment”). The Transportation Concession will be used to transport the production of all oil and gas areas in which the Parties have, now or hereafter, a Pipeline interest. In addition, the Parties signed (i) an agency agreement whereby Equinor, Shell and Vista Argentina entrusted YPF with the acts and tasks required to build the Pipeline and set the costs and expenses to be contributed by each concession holder in proportion to their interests, and; (ii) an agreement for the joint construction of the Pipeline, which establishes the terms and conditions to operate, maintain and use the Pipeline transportation capacity and the Transportation Concession. Moreover, this Assignment is pending approval by the Executive Power of the Province of Neuquén. As of December 31, 2023, Vista Argentina paid 20,089 related to this agreement. 28.4 Asociación de Superficiarios de la Patagonia (“ASSUPA” by Spanish acronym) On July 1, 2004, Vista Argentina was notified of a claim filed against it. In August 2003, ASSUPA filed a lawsuit against 18 (eighteen) companies operating exploitation concessions and exploration permits in the Neuquén basin. ASSUPA claims remediation for the environmental damages supposedly caused by hydrocarbon exploitation activities, the creation of an environment restoration fund, and the implementation of measures to prevent future environmental damages. The plaintiff called the meeting of the Argentine government, the Argentine Federal Council for the Environment (“COFEMA” by Spanish acronym), the Provinces of Buenos Aires, La Pampa, Neuquén, Río Negro and Mendoza, and the National Ombudsman. The plaintiff requested, as a precautionary measure, that the accused parties refrain from conducting activities that harm the environment. Both the subpoena of the National Ombudsman and the preliminary request were rejected by the Argentine Supreme Court of Justice (“CSJN” by its Spanish acronym). Vista Argentina responded the claim by requesting its dismissal and opposing to the plaintiff’s request. On December 30, 2014, the CSNJ issued two interlocutory orders. The order related to the Company supported the claim of the Provinces of Neuquén and La Pampa and declared that all environmental damages related to local and provincial situations were outside the scope of its original jurisdiction and that only “interjurisdictional situations” (such as the Río Colorado basin) would fall under its jurisdiction. The CSNJ also rejected the precautionary measures and other related proceedings. Vista Argentina, considering the legal counsel’s opinion, concluded that it is unlikely that a cash outflow be required to settle this obligation. As of the date of issuance of these consolidated financial statements, before the case is opened for trial, the parties are answering the notices served regarding the prior exceptions and challenges against the evidence filed, which are pending resolution. |
Operations in hydrocarbon conso
Operations in hydrocarbon consortiums | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Operations in hydrocarbon consortiums | Note 29. Operations in hydrocarbon consortiums 29.1 General considerations Hydrocarbon areas are operated by granting exploration permits or exploitation concessions by the federal or provincial government based on the free availability of hydrocarbons produced. 29.2 Oil and gas areas and interests in joint operations As of December 31, 2023, 2022 and 2021, the Company, through its subsidiaries, is the owner and part of the joint operations and consortia for oil and gas exploration and production, as shown below: 29.2.1 Bajada del Palo Oeste and Bajada del Palo Este areas On December 21, 2018, through Decree No. 2,357/18, the Province of Neuquén approved the division and conversion of the operating concession in Bajada del Palo; in two unconventional hydrocarbon operating concessions (“CENCH” by Spanish acronym) so-called In turn, Vista Argentina paid the following items to the Province of Neuquén: (i) an exploitation bonus for 1,168; (ii) an infrastructure bonus for about 2,796; and (iii) 3,935 as corporate social responsibility. Vista Argentina also paid 1,102 as stamp tax and committed to a major reserve development and exploration plan in the area. The Company entered into certain agreements with Trafigura over the Bajada del Palo Oeste area, as described below. However, the Company maintains the operation in Bajada del Palo Oeste and owns 100% in CENCH. 29.2.1.1 Farmout agreement I On June 28, 2021, Vista Argentina entered into a farmout agreement with Trafigura (“farmout agreement I”), whereby it undertook to develop, initially, 5 (five) pads made up of 4 (four) wells each in Bajada del Palo Oeste area. Moreover, Trafigura may hold interests in up to 2 (two) additional pads under the same terms and conditions. By virtue of the farmout agreement, a joint venture was established and Trafigura was entitled to contractual rights for 20% of hydrocarbon output in the pads under the agreement and bear 20% of investment costs, as well as royalties, direct taxes, and remainder operating and midstream costs. As part of the farmout agreement, Trafigura agreed to pay to Vista Argentina 25,000 as follows: (i) a 5,000 down payment; and (ii) 4 (four) payments of 5,000 for each pad, which should be paid upon commencement of hydrocarbon production in each pad included in the farmout agreement I, which should be validated by Trafigura. As of December 31, 2023, all committed pads were put into production under such agreement. 29.2.1.2 Farmout agreement II On October 11, 2022, Vista Argentina entered into a farmout agreement II with Trafigura, whereby it undertook to develop 3 (three) pads in Bajada del Palo Oeste area. Trafigura was entitled to contractual rights for 25% of hydrocarbon output in the pads under the agreement and bear 25% of investment costs, as well as royalties, direct taxes, and remainder operating and midstream costs. As part of the farmout agreement II, Trafigura agreed to pay to Vista Argentina 20,400 as follows: (i) 3 (three) payments of 6,800 for each pad, which should be paid upon commencement of hydrocarbon production in each pad included in the farmout agreement II, which should be validated by Trafigura. As of December 31, 2023, all committed pads were put into production under such agreement. 29.2.2 Coirón Amargo Norte Originally, the Joint operating agreement (“JOA”) Coirón Amargo owned an area located in the Province of Neuquén made up of an operating concession (“Coirón Amargo Norte”) and an evaluation lot (“Coirón Amargo Sur”) due in 2036 and 2017, respectively. On July 11, 2016, the partners of UT Coirón Amargo signed agreements to assign their interests whereby the area was divided in 3 (three) independent lots: Coirón Amargo Norte (“CAN”), Coirón Amargo Suroeste (“CASO”) which was assigned to Shell on April 1, 2021, and Coirón Amargo Sur Este (“CASE”). CAN was made up of APCO Oil & Gas S.A.U. (“APCO SAU”, currently Vista Argentina), Madalena Energy Argentina S.R.L. (“Madalena”) and Gas y Petróleo del Neuquén S.A. (“G&P”) with 55%, 35% and 10%, respectively. Vista Argentina is the operator as from the date. The operating concession expires in 2036. According to the Operating Committee’ minutes of December 28, 2017, the carry agreement was signed; thus, the contributions made and to be made will be recognized as higher assets or expenses, as the case may be, in terms of the amounts actually disbursed by them, regardless of contractual equity interests. As from that date and until June 2020, Vista Argentina recognized its 61.11% interest in this joint operation, which is made up of its 55% contractual equity interest plus the 6.11% incremental portion acquired from G&P. On July 7, 2020, due to the default in payment by partner Madalena and in agreement with Coirón Amargo Norte JOA, Vista Argentina, together with its partner G&P decided to remove Madalena from the agreement by subscribing addendum VIII to the venture agreement for the exploration and exploitation of CAN. Ministry of Energy and Natural Resources Resolution No. 71/20 approved addendum VIII to the venture agreement and Decree No. 1,292/2020 of November 6, 2020, ratified such approval retroactively. Consequently, the Company, through its subsidiary Vista Argentina, increased its interest in the aforementioned JOA from 55% to 84.62% for no consideration. As from that date, and maintaining the abovementioned carry system, the Company recognizes all its interests in this joint operation in its consolidated financial statements. 29.2.3 Águila Mora On August 22, 2018, APCO SAU signed an assignment agreement (the “Águila Mora swap agreement”) whereby: (i) Vista Argentina assigned to O&G Development Ltd S.A (actually “Shell Argentina S.A. o “Shell”) a 35% nonoperated working interest in CASO’s oil & gas properties; (ii) O&G assigned to Vista Argentina a 90% operated working interest in Águila Mora’s oil and gas properties, plus a contribution up to 10,000 to refurbish its existing water infrastructure to benefit Shell and Vista Argentina operations. Águila Mora swap agreement obtained the approvals from the Province of Neuquén on November 22, 2018. Therefore, as from that date, the Company retained a 10% working interest in CASO’s oil and gas properties and acquired a 90% working interest in Águila Mora’s oil and gas properties, becoming the operator according to the swap agreement. This transaction was measured at the fair value of the interest held by the participant assigned to Shell, and no profit or loss was booked as the result of the transaction. Vista Argentina was notified of Decree No. 2,597/19 granted by the Province of Neuquén whereby G&P was granted the unconventional operating concession of Águila Mora area for 35 (thirty-five) years as from November 29, 2019 (renewable at due date provided that certain conditions are met for successive 10 (ten) year periods), replacing the unconventional exploration permit previously granted, expiring on November 29, 2054. Vista Argentina maintains for such area a carry agreement for the interest in G&P and includes all its interests in this joint operation in the consolidated financial statements. 29.2.4. Acambuco The Company has a 1.5% working interest in operating concession Acambuco, located in the Northwest basin, Province of Salta. The operating concession operator is Pan American Energy LLC (Sucursal Argentina) with a 52% working interest. The remainder partners are YPF S.A., Shell, and Northwest Argentina Corporation with an equity of 22.5%, 22.5% and 1.5%, respectively. The operating concession Acambuco includes two operating plots: (i) San Pedrito, which was declared to be marketable on February 14, 2001, and expires in 2036; and (i) Macueta, which was declared to be marketable on February 16, 2005, and expires in 2040. 29.2.5 Aguada Federal and Bandurria Norte On September 16, 2021, the Company, through its subsidiary Vista Holding I, acquired 100% of the shares directly and indirectly held in AFBN. AFBN owns 50% of the nonoperated interest in the nonoperated concession of Aguada Federal and Bandurria Norte granted by the Province of Neuquén that expires in 2050. As of the date of acquisition was operated by Wintershall, the owner of the remainder 50%. Under the transaction terms, Vista made no advance payments, but assumed the cost of carry for nominal value of 77,000 related to 50% of all investments to develop the acquired areas, which were related to Winterhsall’s interests and that expire on December 31, 2023. AFBN carried about 6,203 cash on hand and cash in banks as of the date of this transaction. Pursuant to Company accounting policies including in Note 3.1.3, this transaction was recognized as an asset acquisition, recording an oil and gas property for 69,693, mainly related to unconventional assets. These assets were booked at the cost of liabilities assumed under the carry agreement. Additionally, on January 17, 2022, the Company, through its subsidiary Vista Argentina, acquired the remainder 50% of the interest operated in Bandurria Norte and Aguada Federal concessions from Wintershall; the Company became the area operator with con the 100% interest. Under the transaction terms, the Company paid a total amount of 140,000, of which 90,000 was paid on the date of the transaction, and the remaining 50,000, in 8 (eight) equal quarterly instalments starting on April 2022. During the years ended December 31, 2023 and 2022, Vista paid 25,000 and 115,000, respectively. As result of this transaction, Vista recognized an addition of 68,743 in “Property, plant and equipment” (see Note 13), and the transaction effectively cancels the carry consideration of 77,000 the Company had assumed on September 16, 2021. On September 14, 2022, the Province of Neuquén issued Presidential Decrees No. 1,851/22 and No. 1,852/22 approving the assignment by Wintershall to Vista Argentina of the assets located in the Bandurria Norte and Aguada Federal areas, respectively. 29.2.6 Coirón Amargo Sur Oeste The partners of this joint operation were initially APCO SAU, O&G Development Ltd. S.A. (“O&G”, currently Shell Argentina S.A. or “Shell”) and G&P with 45%, 45% and 10%, respectively. On August 22, 2018, Vista Argentina assigned to O&G a 35% nonoperated interest in CASO. On September 25, 2018, through Decree No. 1,578/18, CASO evaluation plot became a CENCH for 35 (thirty-five) years, maturing in 2053. Through Decree No. 1,027/2021 of June 24, 2021, the Province of Neuquén approved the amendment of the venture agreement whereby Vista Argentina assigned its 10% working interest in the joint agreement over CASO area to Shell with retroactive effects as of April 1, 2021. As of December 31, 2021, the Company received 15,000; and recognized a gain of 9,788 in “Other operating income” under “Gain from assets disposal” (Note 10.1); and a disposal of 11,784 in “Property, plant and equipment” (Note 13). As December 31, 2023, 2022 and 2021, Vista Argentina has no interests whatsoever in CASO area. 29.2.7 Oil and gas properties in Mexico On August 23, 2021, the Company through its subsidiary Vista Holding II completed assets transfer to Jaguar and Pantera, as follow: (i) the acquisition of a 50% working interest in CS-01 TM-01 A-10 (non-operating) As of December 31, 2021, as a result of this transaction the Company agreed to offset its accounts receivable from and payable to Jaguar and Pantera by 5,501; and recognized a disposal of 5,126 in “Property, plant and equipment”; and a net addition of 673 in “Other intangible assets” (Notes 13 and 14). These transactions did not generate cash flows. The Company also paid consideration of 850 for the year ended December 31, 2021, and it recognized a gain of 198 in “Other operating income” under “Gain from assets disposal” mainly arising from reimbursements of operational expenses (Note 10.1). 29.2.8 Sur Rio Deseado Este On March 21, 2021, the 25 (twenty-five) year term of Sur Río Deseado Este concession in the Golfo San Jorge basin, Province of Santa Cruz, in which Vista Argentina had a 16.94% interest, expired. The operator was Alianza Petrolera Argentina S.A. (“Alianza”) with a 79.05% interest, and SECRA S.A. had the remaining 4% interest. Moreover, Vista Argentina had a 44% interest in an exploration agreement in a portion of Sur Río Deseado concession; the operator of such agreement is Quintana E&P Argentina S.R.L. As of the date of these consolidated financial statements, Alianza is going through the administrative formalities to complete the process to restore the area to the Province of Santa Cruz. The expenses required by such process should be assumed by the partners according to their interests in the area. Therefore, as of the date of issuance of these consolidated financial statements, Vista Argentina has no interest whatsoever in the operating concessions of Sur Río Deseado Este; and the results of assets and liabilities disposal it recognized in “Other operating income” under “Gain from assets disposal” for a total amount of 13 (Note 10.1). 29.3 Summarized financial information on the operated and nonoperated join operations Below is the summarized financial information on the operated and nonoperated joint operations involving the Company, which assets, liabilities, revenue and expenses are not fully consolidated in the Company’s consolidated financial statements. The summarized financial information disclosed below represents the amounts under IFRS of the related interests. As of December 31, 2023 As of December 31, 2022 Assets Noncurrent assets 344,411 252,073 Current assets 878 13,702 Liabilities Noncurrent liabilities 1,801 1,256 Current liabilities 11,860 55,106 Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Revenue from contracts with customers — — 3,200 Operating costs (1,687 ) (943 ) (4,406 ) Depreciation, depletion and amortization (78,860 ) (43,139 ) (3,626 ) General and administrative expenses (846 ) (568 ) (1,242 ) Exploration expenses — — (446 ) Other operating income and expenses — 2 (8,076 ) Impairment of long -lived assets (1,679 ) — — Financial results, net 1,561 2,484 (586 ) Total (81,511 ) (42,164 ) (15,182 ) 29.4 Investment commitment As of December 31, 2023, the Company has the following main commitments pending execution: A- (i) In the area of Bajada del Palo Este, drill and complete 1 (one) horizontal well, but the assumed investment amount was met; (ii) in the Entre Lomas area (Province of Río Negro), drill and complete 2 (two) development wells at an estimated cost of 4,400; (iii) in the Entre Lomas area (Province of Río Negro), intervene 5 (five) wells with workover and abandon 2 (two) wells at an estimated cost of 3,000; and (iv) in the 25 de Mayo-Medanito S.E. and Jagüel de los Machos areas (Province of Río Negro), intervene 6 (six) wells with workovers and abandon 19 (nineteen) wells at an estimated cost of 7,600. Points (ii) to (iv) are subject to the conventional asset assignment agreement mentioned in Note 1.2.1, which establishes that investment commitments will be fully assumed by Aconcagua, as the area operator. B- The Company has no commitments as of the date of the consolidated financial statements. 29.5 Well exploration costs There are no balances or activity for costs of exploration wells for the years ended December 31, 2023, 2022 and 2021. |
Tax regulations
Tax regulations | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Tax regulations | Note 30. Tax regulations A- Argentina 30.1 Income tax General On June 16, 2021, the Argentine government issued Law No. 27,630, which introduces changes in corporate income tax rate effective for fiscal years beginning January 1, 2021. It establishes the application of gradual rates according to the level of net accumulated taxable profit. For the years ended December 31, 2023, 2022 and 2021, the applicable income tax rate for the Company, through its subsidiaries, is 35%. On August 16, 2022, the AFIP issued General Resolution No. 5,248/2022 whereby it established one-time one-time On July 20, 2023, the AFIP issued General Resolution No. 5,391/2023, which establishes a one-time one-time As of December 31, 2023, the Company, through its subsidiary AFBN S.R.L., made payments towards income tax for 979. On December 4, 2023, the AFIP issued General Resolution No. 5,453/2023, which establishes a one-time one-time In reference to dividends, in December 2019, Law No. 27,541 on “Social Solidarity and Production Reactivation in the Context of a Public Emergency”, enacted through Presidential Decree No. 58/2019 suspended the increase in the established a rate by Law No. 27,430 set of 7% rates for the years beginning on or after January 1, 2021, currently in place. Tax Inflation Adjustment Law No. 27,468, issued in the year 2018, established that a third of the positive or negative adjustment for inflation applicable to the 3 (three) first fiscal years beginning January 1, 2019, be distributed to the year in which the adjustment was determined and the remaining 2 (two) thirds to the two subsequent tax periods. However, the Law No. 27,541, issued in the year 2019, amended this distribution and established that a sixth of the positive or negative adjustment for the first and second year beginning January 1, 2019, be charged to the year in which the adjustment is determined and the remainder 5 (five) sixths, in equal parts, to the 5 (five) subsequent tax periods, whereas for years beginning January 1, 2021, 100% of the adjustment may be imputed in the year in which it is determined. On December 1, 2022, was published in the Official Bulletin Law No. 27,701, set forth the option to defer the tax adjustment for inflation for the first 2 (two) fiscal years beginning as from January 1, 2022. Thus, a third of such adjustment may be distributed to the fiscal year in which the adjustment is assessed and the remaining 2 (two) thirds, in equal parts, to the two subsequent fiscal years. This alternative only applies to the companies’ promoting investments in property, plant and equipment for an amount equal to or higher than ARS 30,000,000 during each of the two fiscal periods subsequent to the computation of the first third. Failing to comply with this requirement will result in the forfeiture of the benefit. For the years ended December 31, 2023 and 2022, the Company, through its subsidiary Vista Argentina, applied the option mentioned above. 30.2 Tax for an inclusive and solidary Argentina (“PAIS Tax”) Law No. 27,541 issued in the year 2019, introduced a tax that is levied on the acquisition of foreign currency for 5 (five) tax years at a 30% rate. This tax may not be used as payment towards any other tax and is levied on the following cases: (i) purchase of bills and foreign currency for hoarding purposes; (ii) change in currency to pay the acquisitions of assets or services and contracts for works made abroad irrespective of the method of payment used; (iii) acquisition of services abroad purchased from travel and tourism agencies in Argentina; or (iv) acquisition of passenger transportation services to be used abroad. On July 24, 2023, through Decree No. 377/2023, the PEN set forth that PAIS tax shall also be applied to the acquisition of foreign currency for the payments of imports of goods and services, at a 7.5% rate for imports of goods and freight, and at a 25% for imports of services. This tax extension does not apply to imports of goods related to power generation. On December 13, 2023, through Decree No. 29/2023, the PEN increased the rates under PAIS tax applicable to the acquisition of foreign currency for the payment of imports of goods and freight to 17.50%. B- Mexico 30.3 Income tax On October 31, 2019, the Mexican government approved the tax reform. This reform includes the following: (i) It limited the deductibility of net interest for the year, equal to the amount resulting from multiplying the taxpayer’s adjusted taxable profit by 30%. There is an exception with a cap of 20 million Mexican pesos for deductible interest at the group level in Mexico. (ii) It amended the Mexican Tax Code (“CFF” by Spanish acronym) to add new circumstances by virtue of which partners, shareholders, directors, managers or any other person in charge of a company’s management are considered joint and severally liable. (iii) the requirement to disclose “reportable schemes” by tax advisors or taxpayers. These schemes are defined as those that generate, or may generate, a tax benefit and include restructurings, transmission of NOLs, transfer of depreciated assets that may also be depreciated by the acquirer, the use of NOLs about to become statute-barred and abuse in the application of tax treaties with foreign residents, among others. (iv) the considered an organized crime with the related criminal penalties. The aforementioned reform is effective for fiscal years beginning on or after January 1, 2020. The Company’s Management concluded that this reform had no major effects on the consolidated financial information as of December 31, 2023, and 2022. |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Share-based payments | Note 31. Share-based payments On March 22, 2018, the Company’s shareholders authorized the implementation of the LTIP to retain key employees empowered the Board of Directors to manage this plan; will be manages the plan, through an administrative trust. In concequence, decided to set aside 8,750,000 Series A shares to be used in the plan; and is effective as from April 4, 2018. The plan has the following benefits paid to certain executives and employees that are considered share-based payments: 31.1 Stock Options The stock option plan grants the participant the right to acquire a number of shares during a certain term. Stock options will be vested as follows: (i) 33% during the first year; (ii) 33% during the second year, and (iii) 34% during the third year in relation to the date in which stock options are granted to participants. Once acquired, stock options may be exercised up to 5 (five) or 10 (ten) years as from grant date. The plan establishes that the value of the shares to be granted will be determined using Black & Scholes model. The following table shows the number of stock options granted, cancelled and the weighted average exercise price (“WAEP”) for the year: Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Number of WAEP Number of WAEP Number of WAEP At beginning of year 10,540,228 5.15 9,124,109 4.85 5,668,825 6.07 Granted during the year 513,379 17.83 1,416,119 7.05 3,455,284 2.85 Cancelled during the year (1) (1,188,362 ) 3.68 — — — — At end of year 9,865,245 5.98 10,540,228 5.15 9,124,109 4.85 (1) Related to stock options annulled or cancelled for the year, which do not necessarily coincide with the options exercised. The plan stablished that the value of the options to be granted will be determined using the Black & Sholes Model. The following table shows the inputs used for the plan for the year: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Dividend yield (%) 0.0% 0.0% 0.0% Expected volatility (%) 31.4% 33.5% 34.0% Risk–free interest rate (%) 3.9% 1.9% 1.4% Expected life of share options (years) 10 10 10 Weighted average exercise price (USD) 17.83 7.05 2.85 Model used Black & Scholes Black & Scholes Black & Scholes The remainder life of stock options is based on historical data and current expectations and is not necessarily an indication of the potential exercise patterns. Expected volatility shows the assumption that historical volatility in a period similar to the life of options is an indication of future trends, that may not be necessarily the actual result. The weighted average fair value of options granted during the year ended December 31, 2023, 2022 and 2021 stood as 8.99, 3.26, and 1.2, respectively. According to IFRS 2, stock option plans are classified as settled transactions at grant date. For the years ended December 31, 2023, 2022 and 2021, compensation expense related with such plan are booked in the consolidated statements of profit or loss and other comprehensive income stood at 4,553, 3,673, and 4,377, respectively. 31.2 Restricted stock The restricted stock that are given to the participants of the plan for free or a minimum value once the conditions are achieved. Restricted Stock is vested as follows: (i) 33% the first year; (ii) 33% the second year; and (iii) 34% the third year with respect to the date in which the Restricted Stock are granted to the participants. The following table shows the number of restricted stock granted, cancelled and WAEP for the year: Year ended Year ended Year ended Number of WAEP Number of WAEP Number of WAEP At beginning of year 6,669,790 4.89 5,762,338 4.53 3,769,299 5.41 Granted during the year 519,025 17.83 940,215 7.05 1,993,039 2,85 Cancelled during the year (1) (555,451 ) 2.13 (32,763 ) 2.95 — — At end of year 6,633,364 6.18 6,669,790 4.89 5,762,338 4.53 (1) Related to restricted stock annulled or cancelled for the year, which do not necessarily coincide with the restricted stock vested. For the years ended December 31, 2023, 2022 and 2021, compensation expense related with such plan are booked in the consolidated statements of profit or loss and other comprehensive income stood at 8,839, 6,372, and 6,215, respectively. According to IFRS 2, restricted stock plan is classified as settled transactions at grant date. This assessment is the result of multiplying the total number of Series A shares to be deposited in the administrative trust and the price per share. 31.3 Performance restricted stock The performance restricted stock that are given to the participants of the plan for free or a minimum value once the conditions are achieved. Performance restricted stock is vested, based on the performance of different Company´s variables, in the third year with respect to the date in which the Restricted Stock are granted to the participants. The following table shows the number of performance restricted stock granted and WAEP for the year: Year ended December 31, 2023 Year ended December 31, 2022 Number of Series A shares WAEP Number of Series A shares WAEP At beginning of year 3,705,757 7.05 — — Granted during the year 1,417,589 17.83 3,705,757 7.05 At end of year 5,123,346 10.03 3,705,757 7.05 For the years ended December 31, 2023 and 2022, compensation expense related with such plan are booked in the consolidated statements of profit or loss and other comprehensive income stood at 9,741 and 6,531, respectively. According to IFRS 2, performance restricted stock is classified as settled transactions at grant date. This assessment is the result of multiplying the total number of Series A shares to be deposited in the administrative trust and the price per share. |
Supplementary information on oi
Supplementary information on oil and gas activities (unaudited) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Supplementary information on oil and gas activities (unaudited) | Note 32. Supplementary information on oil and gas activities (unaudited) The following information on crude oil and natural gas activities was prepared according to the method established in ASC 932 “Extractive Activities – Oil & gas”, amended by ASU 2010 - 03 “Oil and Gas Reserve Estimation and Disclosure,” published by the Financial Accounting Standard Board (“FASB”) in January 2010 to align current estimation and disclosure requirements with the requirements in the final rules and interpretations issued by the Security and Exchange Commission (“SEC”), published on December 31, 2008. This information includes the Company’s crude oil and natural gas production activities in Argentina and Mexico. Costs incurred The following table shows capitalized costs and expenses incurred in the years ended December 31, 2023, 2022 and 2021. The acquisition of properties includes the costs incurred to acquire proved or unproved oil and gas properties. Exploration costs include the costs required to retain undeveloped properties, seismic acquisition costs, seismic data interpretation, geologic modelling, costs of drilling exploration wells and drilled well testing. Development costs include drilling costs and equipment for development wells, the construction of facilities for hydrocarbon extraction, transport, treatment and storage, and all the costs needed to maintain facilities for existing developed reserves. Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Argentina Mexico Argentina Mexico Argentina Mexico Acquisition of properties Proved — — (68,743 ) — — — Unproved — — — — (69,693 ) — Total acquisition of properties — — (68,743 ) — (69,693 ) — Exploration — (624 ) — (561 ) Development (1) (615,481 ) (17,283 ) (426,991 ) (4,368 ) (280,686 ) (13,475 ) Total costs incurred (615,481 ) (17,283 ) (495,734 ) (4,992 ) (350,379 ) (14,036 ) (1) Including the re-estimation VISTA incurred no costs in entities recognized under the equity method during the aforementioned periods. Capitalized cost The following table shows capitalized costs during the years ended December 31, 2023, 2022, and 2021, for proved and unproved crude oil and natural gas reserves, and accumulated depreciation: Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Argentina Mexico Argentina Mexico Argentina Mexico Proved properties (1) Machinery, facilities, software licenses and other 79,566 928 71,839 723 37,519 476 Oil & gas properties and wells (2) 2,521,781 36,146 2,108,966 40,381 1,614,708 34,698 Works in progress 121,808 1,207 148,964 4,984 84,978 6,267 Gross capitalized costs 2,723,155 38,281 2,329,769 46,088 1,737,205 41,441 Cumulative depreciation (842,024 ) (4,006 ) (773,424 ) (2,972 ) (549,885 ) (281 ) Total net capitalized costs 1,881,131 34,275 1,556,345 43,116 1,187,320 41,160 (1) It includes the re-estimation (2) As of December 31, 202 3 VISTA incurred no costs in entities recognized under the equity method during the aforementioned periods. Results of operations The following breakdown of results of operations summarizes income and expenses directly related to Crude oil and Natural gas production for the years ended December 31, 2023, 2022 and 2021. Income tax for these periods was calculated using statutory tax rates. Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Revenue from contracts with customers 1,168,774 1,187,660 665,310 Total revenue 1,168,774 1,187,660 665,310 Production costs excluding depreciation Operating and other costs (96,743 ) (133,885 ) (108,028 ) Royalties and others (176,813 ) (188,677 ) (99,364 ) Other non-cash (27,539 ) — — Total production costs (301,095 ) (322,562 ) (207,392 ) Depreciation, depletion and amortization (276,430 ) (234,862 ) (191,313 ) Exploration expenses — (624 ) (561 ) Discount for well plugging and abandonment liabilities (2,387 ) (2,444 ) (2,546 ) Impairment of long-lived assets (24,585 ) — 14,044 Operating profit (loss) before income tax 564,277 627,168 277,542 Income tax (169,283 ) (188,150 ) (83,263 ) Crude oil & natural gas operating profit (loss) 394,994 439,018 194,279 VISTA incurred no costs in entities recognized under the equity method during the aforementioned periods. Estimated crude oil and natural gas reserves Proved reserves as of December 31, 2023 and 2022, are net reserves attributable to Vista certified by DeGolyer and MacNaughton for the assets located in Argentina, and Mexico. Proved crude oil and natural gas reserves are the quantities of crude oil and natural gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible, from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. The project to extract the hydrocarbons must have commenced or the operator must be reasonably certain that it will commence the project within a reasonable time. In some cases, substantial investments may be required in related wells and facilities to recover proved reserves. The Company considers that its remaining estimated volumes of Crude oil and Natural gas proved recoverable reserves are fair and that these estimates were prepared according to SEC regulations and ASC 932, as amended. Consequently, Crude oil prices used in determining proved reserves were the average price during the 12 (twelve) months prior to the end date of December 31, 2023, and 2022, respectively, determined as an unweighted average of the first day of the month for each month within these periods. Moreover, since there are no Natural gas prices available in the benchmark market in Argentina, VISTA used the average Natural gas prices for the year to determine Natural gas reserves. In addition, for certain Natural gas volumes, Vista will obtain an incentive price subsidized by the Argentine government through “Gas IV Plan”. A weighted average price is estimated for certain areas per subsidized and unsubsidized volume. The independent evaluation carried out by DeGolyer and MacNaughton as of December 31, 2023 and 2022 in Argentina and Mexico, covered all the estimated reserves located in the areas operated and not operated by the Company. In all cases, estimates of reserves have been prepared according to Rule 4-10 S-X The volumes of liquid hydrocarbons represent Crude oil, condensate, gasoline and LPG to be recovered in field separation and plant processing and are reported in million barrels (“MMBbl”) The volumes of Natural gas represent expected gas sales and the use of fuel in the field and are reported in billion cubic feet (“Bcf”) (10 9 The following tables show proved oil reserves, net (including crude oil, condensate oil and LPG) and natural gas reserves, net, as of December 31, 2023, 2022, 2021 and 2020 according to VISTA’s interest percentage in the related concessions: Proved reserves as of December 31, 2023 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 71.0 85.5 15.2 Proved undeveloped 191.3 173.3 30.9 Total proved reserves 262.3 258.8 46.1 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 1.8 4.5 0.8 Proved undeveloped 5.5 11.4 2.0 Total proved reserves 7.3 15.9 2.8 Proved reserves as of December 31, 2022 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 68.3 99.2 17.7 Proved undeveloped 136.8 139.7 24.8 Total proved reserves 205.1 238.9 42.5 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 0.2 0.1 0.0 Proved undeveloped 2.7 5.9 1.1 Total proved reserves 2.9 6.0 1.1 Proved reserves as of December 31, 2021 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 48.2 90.8 16.2 Proved undeveloped 95.1 99.4 17.7 Total proved reserves 143.3 190.2 33.9 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 0.3 0.2 0.0 Proved undeveloped 3.0 6.0 1.1 Total proved reserves 3.3 6.2 1.1 Proved reserves as of December 31, 2020 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 37.6 86.1 15.3 Proved undeveloped 61.8 73.9 13.1 Total proved reserves 99.4 160.0 28.4 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 0.2 0.7 0.1 Proved undeveloped 0.0 0.0 0.0 Total proved reserves 0.2 0.7 0.1 (1) It refers to crude oil, condensate, and LNG. The following table shows the reconciliation of the Company’s reserve data between December 31, 2022, and December 31, 2023: Argentina Crude oil (1) Natural gas (6) Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2022 205.1 238.9 42.5 Increase (decrease) attributable to: Review of prior estimates (2) (8.2 ) (27.8 ) (4.9 ) Extensions and discoveries (3) 86.5 65.5 11.7 Purchases/sales of onsite proved reserves (4) (5.4 ) (2.6 ) (0.5 ) Production for the year (5) (15.7 ) (15.1 ) (2.7 ) Reserves as of December 31, 2023 (7) 262.3 258.8 46.1 (1) It refers to Crude oil, condensate, and LPG. (2) The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (- 8.2 (a) in connection with the developed reserve: (i) results of well tests for Aguada Federal (-0.54 (-0.71 (-0.43 (-1.26 (-0.31 (-0.88 (-0.06 (-0.4 (b) in connection with the undeveloped reserve: (i) They are related to an (-5.82 The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (-27.8 (a) in connection with the developed reserve: (i) they are associated with the lower performance and adjustment of the gas/oil ratio (“GOR”) in the wells of Aguada Federal (-4.3 (-2.62 (-4.51 (-3.61 (-3.28 (-1.44 (-0.41 (-1.75 (b) in connection with the undeveloped reserve: (i) they are related to an adjustment in Aguada Federal due to the latest well results (-6.58 Bcf); (ii) the potential combined effect of other fields and rounding (+0.70 Bcf), which includes the revision of reserves associated with the extension of the economic life of proved developed reserves in conventional Bajada del Palo Oeste, Bajada del Oeste, Bajada del Oeste (Farmout Agreement I), and Bajada del Oeste (Farmout Agreement II). (3) c n (a) in connection with the developed reserve: (i) the drilling success in Vaca Muerta formation of Bajada del Oeste with a pad (3 wells) adding (+3.18 MMbbl and +3.19 Bcf); (ii) a pad (4 wells) in Bajada del Palo Oeste (Farmout Agreement II), incorporating (+2.7 MMbbl and +2.45 Bcf); (iii) a pad (4 wells) in Aguada Federal adding (+1.16 MMbbl and +1.44 Bcf), another pad (2 wells) in Águila Mora, adding (+1.51 MMbbl and +1.15 Bcf); and (iv) two wells in Bajada del Palo Este totaling (+3.10 MMbbl and +0.8 Bcf). Also, there is a neutral effect from the conversion of proved undeveloped reserves to proved developed reserves generated by: (i) the drilling success in Vaca Muerta formation of 2 pads (8 wells) in Bajada del Palo Oeste adding (+7.84 MMbbl and +7.90 Bcf); (ii) the addition of 2 pads (8 wells) in Bajada del Palo Oeste (Farmout Agreement II), incorporating (+6.94 MMbbl and +6.99 Bcf); as well as (iii) the drilling in a well in Entre Lomas Río Negro adding (+0.22 MMbbl and +2.06 Bcf). (b) in connection with the undeveloped reserve enable by the activity of drilling in Vaca Muerta formation of: (i) 4 pads (15 wells) in Aguada Federal adding (+9.09 MMbbl and +9.09 Bcf), 11 pads (24 wells) in Bajada del Palo Este totaling (+28.91 MMbbl and +12.05 Bcf), 9 pads (33 wells) in Bajada del Palo Oeste, totaling (+36.85 MMbbl and +35.33 Bcf). (4) The changes in the purchase of crude oil (-5.4 (-2.6 (5) Considering Vista Argentina’s output. (6) Natural gas internal consumption stood at 15.6% as of December 31, 2023. (7) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. Mexico Crude oil (1) Natural gas Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2022 2.9 6.0 1.1 Increase (decrease) attributable to: Review of prior estimates (2) 4.6 10.0 1.7 Production for the year (3) (0.2 ) (0.1 ) (0.0 ) Reserves as of December 31, 2023 (4) 7.3 15.9 2.8 (1) It refers to Crude oil, condensate, and LPG. (2) The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (+4.6 MMbbl) are mainly related to: (a) in connection with the developed reserve: (i) due to the extension of (+ 0.2 (- 0.1 (b) in connection with the undeveloped reserve: (i) (+0.5 MMbbl) due to the latest drilling and discovery campaigns in Amate and Encajonado formations; (ii) an increase of (+3.1 MMbbl) because cash-paid royalties for reserves and production volumes are not discounted; and (iii) an increase due to the extension of acreage from the drilling campaign in the same blocks with Vernet-1053 and 1054 wells, resulting in an increase of (+0.9 MMbbl). The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (10.0 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) The lower performance and price decrease (-0.4 (b) in connection with the undeveloped reserve: (i) an increase of (+6.4 Bcf) because cash-paid royalties for reserves and production volumes are not discounted; and (ii) an increase due to the extension of acreage from the drilling campaign in the same blocks with Vernet-1053 and 1054 wells, resulting in an increase of (+0.7 Bcf). In addition, there is a neutral effect from the conversion of proved undeveloped reserves to proved developed reserves generated by: (i) the successful drilling campaign of Vernet-1001, 1002, 1004, 1005, and 1006 (+1.65 MMbbl and +1.67 Bcf). (3) Considering Vista Holding II’s output. (4) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. The following table shows the reconciliation of the Company’s reserve data between December 31, 2021, and December 31, 2022: Crude oil (1) Natural gas (6) Natural gas Argentina (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2021 143.3 190.2 33.9 Increase (decrease) attributable to: Review of prior estimates (2) 9.1 0.9 0.2 Extensions and discoveries (3) 65.4 62.0 11.0 Purchases of onsite proved reserves (4) 2.0 2.0 0.4 Production for the year (5) (14.6 ) (16.3 ) (2.9 ) Reserves as of December 31, 2022 (7) 205.1 238.9 42.5 (1) It refers to Crude oil, condensate, and LPG. (2) The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (+9.1MMbbl) are mainly related to: (a) in connection with the developed reserve: (i) the enhanced performance of the 32 (thirty two) production wells targeting Vaca Muerta unconventional in Bajada del Palo Oeste concession (+4.78 MMbbl); (ii) the 28 (twenty eight) wells drilled in 2022 targeting Vaca Muerta unconventional reservoir in Bajada del Palo Oeste concession, which comprises the farmout I agreement mentioned in Note 29.2.1. (+2.54 MMbbl); (iii) a combined negative effect from other plots of land (-0.62 (b) in connection with the undeveloped reserve: (i) the unconventional Bajada del Palo Oeste concession were revised up, due to a lateral length adjustment, which had no effect on the type well (+0.87 MMbbl); (ii) the Entre Lomas Rio Negro concession were also revised up due to the addition of a well in Charco Bayo oilfield targeting Tordillo and Punta Rosada formations (+0.31 MMbbl); (iii) an upward revision was also made in the development plan of Jagüel de los Machos block due to the addition of 2 (two) wells and 2 (two) workovers (+0.12 MMbbl); (iv) minor changes in the activity of 25 de Mayo-Medanito block (+0.05 MMbbl); (v) in Bajada del Palo Oeste concession, a downward revision was made related to the removal of two wells targeting Lotena conventional formation (-0.28 The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (+0.9 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) the enhanced performance GOR adjustment based on the latest trial results of the 32 (thirty two) unconventional production wells in Bajada del Palo Oeste concession (+4.83 Bcf); (ii) reduced performance of conventional wells in Bajada del Palo Oeste concession (-2.52 (-4.81 (-0.38 (b) in connection with the undeveloped reserve: (i) the unconventional Bajada del Palo Oeste concession were revised up, due to a lateral length adjustment, which had no effect on the type well (+1.00 Bcf); (ii) the Elo Río Negro concession were also revised up due to the addition of a well in Charco Bayo oilfield targeting Tordillo and Punta Rosada formations (+1.34 Bcf); (iii) an upward revision was also made in the development plan of Jagüel de los Machos block due to the addition of 2 (two) wells and 2 (two) workovers (+0.13 Bcf); (iv) minor changes in the activity of 25 de Mayo-Medanito block (+0.02 Bcf); (v) in Bajada del Palo Oeste concession, a downward revision was made related to the removal of two wells targeting Lotena conventional formation (-2.21 (3) The changes in the proved developed and undeveloped reserves due to the extension and discovery of Crude oil (+65.4 MMbbl) and Natural gas (+62.0 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) the drilling of 16 (sixteen) wells (4 pads) targeting Vaca Muerta formation in Bajada del Palo Oeste concession (+13.44 MMbbl, and +12.30 Bcf): (ii) the drilling of 12 (twelve) wells targeting Vaca Muerta formation in Aguada Federal concession (+7.73 MMbbl, and +8.36 Bcf); (iii) the drilling of 2 (two) wells (1 pad) in Bajada del Palo Este targeting Vaca Muerta (+2.75 MMbbl, and +0.89 Bcf). (b) in connection with the undeveloped reserve: (i) the drilling of 13 (thirteen) wells (4 pads) targeting Vaca Muerta formation in Bajada del Palo Oeste concession (+14.08 MMbbl, +13.91 Bcf); (ii) the drilling of 2 (two) wells (1 pad) in Bajada del Palo Este (+2.71 MMbbl, and +1.39 Bcf); and (iii) the drilling of 28 (twenty-eight) wells (13 pads) in Aguada Federal (+24.69 MMbbl, and +25.15 Bcf). (4) The changes in the purchase of Crude oil (+2.00 MMbbl) and Natural gas (+2.00 Bcf) reserves are mainly related to the farmout II agreement signed with Trafigura mentioned in Note 29.2.1.2. As of December 31, 2021, 4 (four) wells were proved undeveloped and the 4 (four) wells were unproved. As of December 31, 2022, the 8 (eight) wells are undeveloped proved. (5) Considering Vista Argentina’s output. (6) Natural gas internal consumption stood at 11.1% as of December 31, 2022. (7) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. Mexico Crude oil (1) Natural gas Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2021 3.3 6.2 1.1 Increase (decrease) attributable to: Review of prior estimates (2) (0.3 ) (0.1 ) (0.0 ) Production for the year (3) (0.2 ) (0.1 ) (0.0 ) Reserves as of December 31, 2022 (4) 2.9 6.0 1.1 (1) It refers to Crude oil, condensate, and LNG. (2) The revisions of proved developed Crude oil and condensate and Natural gas reserves are related to an enhanced performance of wells (0.05 MMbbl) and the latest GOR trends (-0.04 (-0.34 -0.02 (3) Considering Vista Holding II’s output. (4) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. The following table shows the reconciliation of the Company’s reserves data between December 31, 2020 and December 31,2021: Crude oil (1) Natural gas (6) Natural gas Argentina (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2020 99.4 160.0 28.4 Increase (decrease) attributable to: Review of prior estimates (2) 3.8 (5.4 ) (0.9 ) Extensions and discoveries (3) 53.5 53.7 9.6 Purchases of onsite proved reserves (4) (2.2 ) (1.9 ) (0.3 ) Production for the year (5) (11.2 ) (16.2 ) (2.9 ) Reserves as of December 31, 2021 (7) 143.3 190.2 33.9 (1) It refers to Crude oil, condensate, and LNG. (2) The changes due to revisions of prior estimates of total proved Crude oil reserves (+3.8 MMbbl) are mainly related to: (i) an extension of the economic cap applicable to the different concessions (+3.3 MMbbl) due to increased prices of liquid hydrocarbon (from USD 41.97 per barrel to USD 54.99 per barrel of condensate and C5+, and from USD 19.16 per barrel to USD 26.87 per barrel of LPG); (ii) an enhanced performance of Bajada del Palo Oeste unconventional wells (+2.6 MMbbl); partly offset by: (iii) a lower performance of the base production of Bajada del Palo Oeste (-0.6 (-0.6 (-0.5 (-0.4 The changes due to revisions of prior estimates of proved Natural gas reserves (-5.4 (-4.9 (-4.0 (-2.3 (-1.8 (-1.1 (3) The changes in total proved reserves due to the extension and discovery of Crude oil (+53.5 MMbbl) and Natural gas (+53.7 Bcf) are mainly related to: (i) the extension of proved undeveloped acreage thanks to the addition of 11 (eleven) pads (44 wells) classified as proved undeveloped due to the successful drilling in Vaca Muerta unconventional formation in Bajada del Palo Oeste concession (+46.2 MMbbl, +46.5 Bcf); and (ii) the extension of proved developed acreage related to the drilling of 2 (two) unproved pads (8 (eight) wells (related to PAD 35 and PAD 44) in Vaca Muerta unconventional formation in Bajada del Palo Oeste concession under the farmout agreement I with Trafigura (+7.3 MMbbl, +7.2 Bcf). (4) The changes due to purchases/sales of Crude oil (-2.2 (-1.9 (-1.4 -1.0 (-0.9 -0.9 (5) Considering Vista Argentina’s output. (6) Natural gas consumption stood at 12.9% as of December 31, 2021. (7) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. Mexico Crude oil (1) Natural gas Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2020 0.2 0.7 0.1 Increase (decrease) attributable to: Review of prior estimates (2) 1.5 3.0 0.5 Purchases of onsite proved reserves (3) 1.7 2.4 0.4 Production for the year (4) (0.1 ) — — Reserves as of December 31, 2021 (5) 3.3 6.2 1.1 (1) It refers to Crude oil, condensate, and LNG. (2) The revisions of proved developed Crude oil, condensate and Natural gas reserves are related to the development plan approved by the CNH, as well as the drilling and completion of Vernet-1001 wells. (3) The changes due to purchases/sales of Crude oil (+1.7 MMbbl) and Natural gas (+2.4 bcf) are mainly related to the transfer of assets in Mexico, whereby Company increased its equity to 100 CS-01 (4) Considering Vista Holding II’s output. (5) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. Standardized measure of future discounted cash flow (net) The following table describes estimated future cash flows from the future production of proved developed and undeveloped reserves of Crude oil, condensate, LPG and Natural gas. As established by SEC Modernization of Oil and Gas Reporting rules and ASC 932 of the FASB Accounting Standards Codification (“ASC”) relating to Extractive Activities—Oil and Gas (formerly SFAS 69 Disclosures about Oil and Gas Producing Activities), these cash flows were estimated using the twelve-month average of the first day-of-the-month This standardized measure is not intended to be, and should not be, interpreted as an estimate of the market value of the Company’s reserves. The purpose of this information is to provide standardized data to help the users of the financial statements to compare different companies and make certain projections. This information does not include, among others, the effect of future changes in price costs and tax rates, which past experience shows that they are likely to occur, and the effect of the future cash flows of reserves that have not been classified as proved reserves yet, of a discount factor that best represents the value of money over time and of the risks inherent in Crude oil and Natural gas production. These future changes may have a major impact on future net cash flows disclosed below. Therefore, this information does not necessarily show the Company’s perception on future discounted cash flow, net, of the hydrocarbon reserve. As of December 31, 2023 (1) As of December 31, 2022 (1) As of December 31, 2021 (1) (2) Future cash flows 18,771 16,118 8,506 Future production costs (5,573 ) (4,634 ) (2,638 ) Future development and abandonment costs (3,198 ) (2,142 ) (1,294 ) Future income tax (3,477 ) (3,009 ) (1,432 ) Discounted future net cash flows 6,523 6,333 3,142 10% annual discount (3,133 ) (3,092 ) (1,630 ) Standardized measure of discounted future net cash flows 3,390 3,241 1,512 (1) Amounts expressed in millions of US Dollars (“MM USD”). (2) As of December 31, 2021, the standardized measure of future discounted cash flow (net) is related to the estimated value of reserves in Argentina. The table does not include the estimated value of the reserves in Mexico’s areas (24MM USD as of December 31, 2021). Changes in the standardized measure of future discounted cash flow (net) The following table shows the changes in the standardized measure of future discounted cash flow, net, for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, 2023 (1) Year ended December 31, 2022 (1) Year ended December 31, 2021 (1) Standardized measure of future 3,241 1,512 738 Net changes in selling prices and (2) (314 ) 1,170 783 Net changes in estimated future (3) (3,642 ) (2,632 ) 28 Net changes from revisions of (4) (220 ) 229 44 Net changes from extensions, (5) 2,240 1,790 1,006 Cumulative discount 3,333 1,585 116 Net changes from on-site (6) (131 ) 55 (40 ) Sales of Crude oil, LNG and Natural 841 820 (429 ) Estimated development costs (669 ) (460 ) (263 ) Net changes in income tax (7) (1,289 ) (852 ) (471 ) Other (8) — 24 — Changes in the standardized measure 149 1,729 774 Standardized measure of future 3,390 3,241 1,512 (1) Amounts expressed in MM USD. (2) For the year ended December 31, 2023, primarily affected by a decrease in the prices of crude oil, petroleum condensate, natural gas, and LPG in Argentina, which decreased from USD 72.32 per barrel to USD 66.50 per barrel of crude oil, condensate, and C5+, from USD 31.19 per barrel to USD 25.40 per barrel of LPG, and from USD 4.86 per cubic foot to USD 3.55 per cubic foot of sales gas. Also, for the year ended December 31, 2022, primarily affected by a rise in the prices of crude oil, petroleum condensate, natural gas, and LPG in Argentina, which increased from USD 54.99 per barrel to USD 72.32 per barrel of crude oil, condensate, and C5+, from USD 26.87 per barrel to USD 31.19 per barrel of LPG, and from USD 3.92 per cubic foot to USD 4.86 per cubic foot of sales gas. (3) For the years ended December 31, 2023, and 2022, related to cost development revisions of the unconventional area of Bajada del Palo Oeste, Bajada del Palo Este Aguada Federal and Águila Mora. (4) For the years ended December 31, 2023, and 2022, mainly affected by the extension in the economic limits of assets due to a decrease in the prices of crude oil, petroleum condensate, natural gas and LPG, detailed in point (2). (5) For the year ended December 31, 2023, mainly related to the extension of the proved area due to the addition of 40 wells in proved reserves in Bajada del Palo Oeste area in Vaca Muerta formation with positive results. Also related to the addition of proved reserves from the unconventional Bajada del Palo Este area with 26 additional wells. A total of 19 wells were added in the unconventional Aguada Federal area, 2-well (6) For the year ended December 31, 2023, the agreement with Aconcagua is terminated, granting the operation as from March 1, 2023, with 60 25 (7) For the year ended December 31, 2023, and 2022, the change is due to the increase in income tax caused by higher expected revenue mainly from the extensions and increases in hydrocarbon prices. (8) For the year ended December 31, 2022, it includes the estimated value of Mexican reserves. |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent events | Note 33. Subsequent events The Company assessed events subsequent to December 31, 2023, to determine the need of a potential recognition or disclosure in these consolidated financial statements. The Company assessed such events through April 23, 2024, date in which these consolidated financial statements were made available for issue. - On January 4, 2024, Vista Argentina paid interest for an amount of 112 corresponding to loan agreements signed with Banco Santander International in July 2021 and January 2022. - On January 19, 2024, Vista Argentina paid interest for a total amount of 958 corresponding to loan agreement signed with ConocoPhillips Company. - On January 19, 2024, Vista Argentina paid interest for an amount of 72 corresponding to loan agreement signed with Banco Santander International in January 2021. - On January 25, 2024, Vista Argentina signed a loan Agreement with Banco Macro for a total amount of 35,000; at an annual interest rate of 7%, and expiration date between February 8, 2024, and March 19, 2024. As of the date of these consolidated financial statements, Vista Argentina pre- settled the mentioned agreements for a total amount of - On February 11, 2024, Vista Argentina paid interest for a total amount of - On February 27, 2024, Vista Argentina paid interest for a total amount of corresponding to ON XI and ON XII. - During February, March and April, Vista Argentina made pay m - During February, Ma related to project mentioned in Note 28.2. - On March 1, 2024, Vista Argentina received payments by Aconcagua for an amount of related to agreement mentioned in Note 1.2.1. - On March 4, 2024, Vista Argentina paid interest for a total amount of 122 corresponding to ON VI y ON XIX. - On March 5, 2024, Vista Argentina paid interest for a total amount of 151 corresponding to ON XX. - On March 6, 2024, Vista Argentina paid interest for a total amount of 135 corresponding to ON XV. - On March 6, 2024, Vista Argentina issued ON XXIII for an amount of 60,000 at a fixed rate 6.5% and expiration date in - On March 18, 2024, Vista Argentina paid interest for a to - On March 18, 2024, Vista Argentina signed a loan ag r - On March 21, 2024, Vista Argentina signed a loan ag r - On April 4, 2024, Vista Argentina paid interest for an a - On April 5, 2024, Vista Argentina paid interest for an a m There are no other events or transactions between the closing date and the date of issuance of these consolidated financial statements, April 23, 2024, that could significantly affect the Company’s financial position or profit or loss. |
Basis of preparation and mate_2
Basis of preparation and material accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
New accounting standards, amendments and interpretations issued by the IASB | 2.2 New accounting standards, amendments and interpretations issued by the IASB 2.2.1 New effective accounting standards, amendments and interpretations issued by the IASB adopted by the Company Amendments to IAS 1: Presentation of financial statements - Disclosure of Accounting Policies In February 2021, the IASB issued amendments to IAS 1, in which it provides guidance and examples to help entities apply materiality judgements to accounting policy disclosures, replacing “significant” with a requirement to disclose their “material” accounting policies. According to IAS 1, an accounting policy is material if, together with other information contained in the financial statements, it can be expected to influence the decisions made by users of the financial statements. The amendments to IAS 1 are applicable for annual periods beginning after 1 January 2023. The amendments were considered in the preparation of these consolidated financial statements. Amendments to IAS 8: Accounting policies, changes in accounting estimates and errors – Definition of accounting estimates In February 2021, the IASB issued amendments to IAS 8, in which it clarifies the distinction between changes in accounting estimates and changes in accounting policies and the correction of errors. Also, they clarify how entities use measurement techniques and inputs to develop accounting estimates. The amended standard clarifies that the effects on an accounting estimate of a change in an input or a change in a measurement technique are changes in accounting estimates if they do not result from the correction of prior period errors. The amendments are effective for annual reporting periods beginning after 1 January 2023. The amendments had no impact on the Company’s consolidated financial statements as the current accounting policies are aligned to the amendments. Amendments to IAS 12: Income taxes - Deferred tax related to assets and liabilities arising from a single transaction On May 7, 2021, the Board issued amendments to IAS 12, related to assets and liabilities arising from a single transaction, that result in the recognition of a simultaneous asset and liability, such as right-of-use The purpose of such amendments is to limit the application of the exemption from the initial recognition of deferred tax assets and liabilities in certain single transactions. The amendments are effective for annual reporting periods beginning after 1 January 2023. The amendments had no impact on the consolidated financial statements. Amendments to IAS 12: Income tax. International Tax Reform Pillar Two Model Rules On May 23, 2023, the IASB issued amendments to IAS 12 to apply the pillar two model rules published by the Organization for Economic Co-operation The IASB amendments are: (i) A mandatory temporary exception to the deferred taxes accounting from the jurisdictional implementation of pillar two income taxes and; (ii) Disclosure requirements for affected entities to help users of the financial information better understand an entity’s exposure to Pillar Two income taxes arising from that legislation, particularly before its effective date. The amendments are effective for annual periods beginning on or after January 1, 2023, immediately and retrospectively, according to the principles established in IAS 8. As the date of these financial statements, the adoption of the aforementioned amendments has not had effects since the required regulations have not been issued in the main jurisdictions in which the Company operates. 2.2.2 New accounting standards, amendments and interpretations issued by the IASB not yet effective Amendments to IAS 1: Presentation of Financial Statements. Classification of Liabilities as Current or Non-current In October 2022, the IASB published changes to certain paragraphs of IAS 1 to specify the requirements for classifying liabilities as current or non-current. (i) What is meant by a right to defer settlement; (ii) That a right to defer must exist at the end of the reporting period; (iii) That classification is unaffected by the likelihood that an entity will exercise its deferral right and; (iv) That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification. These amendments will be effective for annual periods beginning on or after January 1, 2024, and should be applied retrospectively. These amendments are not expected to have a major impact on the Company’s consolidated financial statements. Amendments to IAS 7: Statements of Cash Flows, and IFRS 7: Financial Instruments: Disclosures – Disclosure of Supplier Finance Arrangements On May 25, 2023, the IASB published amendments to IAS 7 and IFRS 7 whereby it introduces new disclosure requirements in IFRS Standards to enhance the transparency and, thus, the usefulness of the information provided by entities about supplier finance arrangement. The new requirements aim to facilitate a better understanding of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk. They will be effective for annual periods beginning on or after January 1, 2024. These amendments are not expected to have a major impact on the Company’s consolidated financial statements. Amendments to IFRS 16: Leases. Recognition of lease liabilities in a sale and leaseback In September 2022, the IASB published amendments to IFRS 16 related to the recognition of lease liabilities in a sale and leaseback. The amendment specifies the requirements that a seller-lessee should use to measure the lease liability arising in a sale to ensure the seller-lessee does not recognize any amount of the gain or loss that relates to the right of use it retains. They will be effective for annual periods beginning on or after January 1, 2024. They are applied retrospectively, and early adoption is allowed. They are not expected to have a major impact on the Company’s consolidated financial statements since it has no sale and leaseback transactions. |
Basis of consolidation | 2.3 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries. 2.3.1 Subsidiaries Subsidiaries are all entities over which the Company has control, which occurs if and only if the Company has all the following: (i) Power over the entity; (ii) Exposure or rights to variable returns from its involvement with the entity; and (iii) The ability use its power over the entity to affect the amount of the investor’s returns. The Company reassesses whether it controls a subsidiary if facts and circumstances indicate that there are changes to 1 (one) or more of the 3 (three) elements of control mentioned above. When the Company has less than a majority of the voting rights of an investee, it has power over the latter when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Company assesses all facts and circumstances to determine whether voting rights are sufficient to give it power over an entity, including: (i) The size of the Company’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders; (ii) potential voting rights held by the Company, other vote holders or other parties; (iii) rights arising from other contractual arrangements; and (iv) any additional facts and circumstances that indicate the Company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meeting. Relevant activities are those that most significantly affect the subsidiary’s performance, such as the ability to approve an operating and capital budget and the power to appoint Management personnel. These decisions show that the Company has rights to direct a subsidiary’s relevant activities. Subsidiaries are consolidated from the date the Company obtains control over them and ceases when such control ends. Specifically, profit and expenses of a subsidiary acquired or disposed of during the year are included in the statements of profit or loss and other comprehensive income as from the date in which the Company obtains control until it assigns or loses such control. Intercompany transactions, balances and income or losses are deleted. The subsidiaries’ financial statements are adjusted when needed to align their accounting policies to the Company’s accounting policies. Below are the Company’s main subsidiaries: Subsidiary name Equity interest Place of business Main activity December 31, 2023 December 31, 2022 December 31, 2021 Vista Energy Holding I, S.A. de C.V. (“Vista Holding I”) 100 % 100 % 100 % Mexico Holding company Vista Energy Holding II, S.A. de C.V. (“Vista Holding II”) 100 % 100 % 100 % Mexico Exploration and production (1) Vista Energy Holding III, S.A. de C.V. 100 % 100 % 100 % Mexico Services Vista Energy Holding IV, S.A. de C.V. 100 % 100 % 100 % Mexico Services Vista Oil & Gas Holding V B.V. 100 % 100 % 100 % Netherland Holding company Vista Complemento S.A. de C.V. (3) — % — % 100 % Mexico Services Vista Holding VII S.á.r.l. 100 % 100 % 100 % Luxembourg Holding company Vista Argentina 100 % 100 % 100 % Argentina Exploration and production (1) Subsidiary name Equity interest Place of business Main activity December 31, 2023 December 31, 2022 December 31, 2021 Aleph Midstream S.A. (“Aleph”) 100 % 100 % 100 % Argentina Services (2) Aluvional S.A. (“Aluvional”) 100 % 100 % 100 % Argentina Mining and industry AFBN S.R.L. (“AFBN”) 100 % 100 % 100 % Argentina Exploration and production (1) VX Ventures Asociación en Participación 100 % 100 % 100 % Mexico Holding company (1) It refers to the exploration and production of natural gas and crude oil. (2) Including operations related to the capture, treatment, transport and distribution of hydrocarbons and derivatives. (3) Subsidiary merged with Vista Holding II on January 1, 2022. 2.3.2 Changes in interests Changes in the Company’s working interests in its subsidiaries that do not result in a change in control of the subsidiary are accounted for as equity transactions. The carrying amount of the Company’s interests is adjusted to reflect the changes in interests in the subsidiaries. When the Company ceases to consolidate or book a subsidiary for loss of control, joint control or significant influence, any retained working interest in the entity is remeasured at fair value with the change in the carrying amount recognized in the statements of profit or loss and other comprehensive income. This fair value becomes the initial carrying amount for the purposes of subsequently booking retained interest as the associate, joint venture or financial asset. In addition, any amount previously recognized in other comprehensive income in relation to such entity is booked as if the Company had directly disposed of the related assets or liabilities. This may mean that the amounts previously recognized in other comprehensive income are reclassified to profit or loss. If the working interest in a joint venture or associate is reduced, but the entity retains the joint control or significant influence, only a proportion of the previously recognized amounts in other comprehensive income is reclassified to profit or loss. 2.3.3 Joint arrangements According to IFRS 11 Joint Arrangements, investments are classified as joint operations or joint venture, depending on contractual rights and obligations. The Company has joint operations but has no joint venture. Joint operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. Joint control exists only when decisions about the relevant business activities require the unanimous consent of the parties that collectively control the arrangement. When the Company carries out activities under joint operations, the Company as a joint operator, to recognize in proportion to its interest in the joint arrangement: (i) Its assets and liabilities held jointly; (ii) Its revenue from the sale of its share of the output of the joint operation; (iii) Its revenue from the sale of its share of the output of the joint operation; and (iv) Its expenses, including its share of any expenses incurred jointly. The Company books its assets, liabilities, revenues and expenses related to its interest in a joint operation according to the IFRS applicable to specific assets, liabilities, revenues and expenses. They were included in the consolidated financial statements in the related accounts. Interest in joint operations were based on the latest financial statements or financial information available as of every year-end See Notes 1.1 and 29 for further information on the Company’s joint operations. 2.3.4 Business combination The acquisition method is used to book business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for these acquisitions comprises: (i) The fair value of transferred assets; (ii) The liabilities incurred to former owners of the acquired business; (iii) The equity interests issued by the Company; (iv) The fair value of any asset or liability from a contingent consideration arrangement; and (v) The fair value of any previously held equity interest in the subsidiary. Identifiable assets acquired and contingent liabilities assumed in a business combination are initially measured at fair values at the date of purchase. The costs related to the acquisition are booked as incurred expenses. Goodwill is an excess of: (i) The consideration transferred; and (ii) The fair value of net identifiable assets acquired. If the fair value of the acquiree’s net identifiable assets exceeds these amounts, before recognizing profit, the Company reassesses whether it has correctly identified all assets acquired and liabilities assumed, reviewing the procedures employed to measure the amounts to be recognized at the acquisition date. If the assessment still results in excess of the fair value of net assets acquired in relation to the total consideration transferred, gain from a bargain purchase is recognized directly in the consolidated statements of profit or loss and other comprehensive income. When the settlement of any cash consideration is deferred, the future amounts payable is discounted at their present value at the exchange date. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained under comparable terms and conditions. Contingent consideration will be recognized at its fair value at the acquisition date. Contingent consideration is classified as equity or as a financial liability. The amounts classified as a financial liability are remeasured at fair value with changes in fair value through the consolidated statements of profit or loss and other comprehensive income. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. When the Company acquires a business, it assesses the financial assets acquired and liabilities incurred in relation to its adequate classification and designation according to contractual terms, economic circumstances and relevant conditions as of the acquisition date. Oil reserves and resources acquired that may be measured reliably are recognized separately at fair value upon the acquisition. Other potential reserves, resources and rights, which fair values cannot be measured reliability, are not recognized separately but are considered part of goodwill. If the business combination is performed in stages, the previously held equity interest in the acquiree is measured at acquisition-date fair value. Profit or loss from such remeasurement is recognized in the consolidated statements of profit or loss and other comprehensive income. The Company has a maximum period of 12 (twelve) months from the date of acquisition to finalize the acquisition accounting. When it is incomplete as of the end of the year in which the business combination takes place, the Company reports provisional amounts. For the years ended December 31, 2023, 2022, and 2021, transactions carried out by the Company are not business combinations. |
Segment information | 2.4 Summary of material accounting policies 2.4.1 Segment information The operating segments are reported in a consistent manner with the internal reports provided by the Executive Management Committee (the “Committee” that is considerate the “Chief Operating Decision Maker” or “CODM”). The CODM is the highest decision-making authority, in charge of allocating resources and establishing the performance of the entity’s operating segments and was identified as the body executing the Company’s strategic decisions. See Note 4. |
Property, plant and equipment and intangible assets | 2.4.2 Property, plant and equipment and intangible assets Property, plant and equipment Property, plant and equipment is measured using the cost model, the asset is valued at cost less depreciation and any subsequent accumulated impairment loss. Subsequent costs are included in the carrying amount of the asset or are recognized as a separate asset, as the case may be, only when it is probable that future economic benefits may flow to the Company and the cost of the asset may be measured reliably, otherwise such costs are charged to profit or loss during the reporting period in which they are incurred. Works in progress are booked at cost less any impairment loss, of applicable. Profit or loss from the sale of property, plant and equipment is calculated by comparing the consideration received with the carrying amount of the date in which the transaction was carried out. 2.4.2.1 Depreciation methods and useful lives Estimated useful lives, residual values and the depreciation method are reviewed at every period-end, The Company amortizes drilling costs applicable to productive and in development, productive wells, and production facilities, according to the unit of production method (“UDP” by Spanish acronym), applying the proportion of crude oil and natural gas produced to proved and developed crude oil and Natural gas reserves, as the case may be. The mineral properties are amortized applying the proportion of produced crude oil and natural gas to total estimated crude oil and natural gas proved reserves. The costs of acquiring properties with unproved reserves are valued at cost, and their recoverability is assessed regularly based on geological and engineering estimates of the reserves and resources expected to be proved during the life of each concession and are not depreciated. Capitalized costs related to the acquisition of properties and the extension of concessions with proved reserves were depreciated per field based on a UDP by applying the proportion of produced crude oil and natural gas to estimated total proved oil and gas reserves. (Note 2.4.2.3). The Company’s remainder items of property, plant and equipment (including significant identifiable components) are depreciated using the straight-line method based on their estimated useful lives, as detailed below: Buildings 50 years Machinery and installations 10 years Equipment and furniture 10 years Vehicles 5 years Computer equipment 3 years Land does not depreciate. 2.4.2.2 Assets for oil and gas exploration and production The Company adopts the successful effort method to account for its oil and gas exploration and production activities. This method implies the capitalization of: (i) the cost of acquiring properties in oil and gas exploration and production areas; (ii) the cost of drilling and equipping exploration wells arising from the discovery of commercially recoverable reserves; (iii) the cost of drilling and equipping development wells; and (iv) estimated well plugging and abandonment obligations. Exploration and evaluation involve the search for hydrocarbon resources, the assessment of its technical viability and the assessment of the commercial feasibility of an identified resource. According to the successful effort method, exploration costs such as geological and geophysical (“G&G”) costs, excluding the costs of exploration wells and 3D seismic testing in operating concessions, are expensed in the period in which they are incurred. These capitalized costs are subject to technical, commercial and administrative review, and a review of impairment indicators at every period-end. When there is sufficient management information indicating impairment, the Company conducts an impairment test according to the policies described in Note 3.2.2. Estimated well plugging and abandonment obligations in hydrocarbon areas, discounted at a risk-adjusted rate, are capitalized in the cost of assets and are amortized using the UDP method. A liability for the estimated value of discounted amounts payable is also recognized. Changes in the measurement of these obligations as a consequence of changes in the estimated term, the cost or discount rate are added to or deducted from the cost of the related asset. |
Rights and Concessions | 2.4.2.3 Rights and Concessions Rights and concessions are booked as part of property, plant and equipment and are depleted on the UDP over the total proved developed and undeveloped reserves of the relevant area. The calculation of the UDP rate for the depreciation / amortization of development costs considers expenses incurred to date and authorized future development expenses. |
Intangible assets | 2.4.2.4 Intangible assets a. Goowill Goodwill arises during a business combination and represents the excess of the consideration transferred over the fair value of net assets acquired. After initial recognition, goodwill is measured at cost less cumulative impairment losses. To conduct impairment tests, goodwill is allocated as from acquisition date to each cash-generating unit (“CGU”), which represents the lowest level within the Company at which the goodwill is monitored for internal management purposes. Goodwill is tested once a year. When goodwill is allocated to a CGU and part of the transaction within such unit is eliminated, goodwill related to such eliminated transaction is included in the carrying amount of the transaction to determine gain or loss on sale. b. Other intangible assets Other intangible assets acquired separately are measured using the cost model; after initial recognition, the asset is valued at cost less amortization and any subsequent accumulated impairment loss. Intangible assets are amortized using the straight-line method; software licenses are amortized over their estimated 3 (three) year useful life. The amortization of these assets is recognized in the statements of profit or loss and other comprehensive income. The estimated useful life, residual value and amortization method are reviewed at every period-end, |
Leases | 2.4.3 Leases The Company has lease contracts for various items of buildings, facilities and machinery, which are recognizes under IFRS 16. The Company recognizes right-of-use Right-of-use Right-of-use The Company recognizes lease liabilities measured at the present value of the payments to be made during the lease term. These payments include fixed payments, variable payments dependent on an index or rate, and the purchase option and the penalty payments from lease termination. The Company determines the lease term as the noncancellable lease term, together with any period covered by an option to extend the agreement if it is reasonably certain that it will exercise that option. To calculate the present value of lease payments, the Company uses the incremental borrowing rate at the lease contract. After the commencement date, liabilities will be increased to reflect the accretion of interest and will be reduced by the payments made. In addition, the carrying amount of lease liabilities are remeasured if there is an amendment, a change in the lease term, a change in the fixed or in-substance The Company applies the exemption to recognize short-term leases (i.e., those leases for a term under 12 (twelve) months as from the commencement date with no call option). Also, the low-value low-value low-value |
Impairment of nonfinancial assets other than goodwill | 2.4.4 Impairment of nonfinancial assets other than goodwill Other nonfinancial assets with a definite useful life undergo impairment tests whenever events or changes in circumstances have indicated that their carrying value may not be recoverable. When the carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognized for the value of the asset. An asset’s recoverable amount is the higher of (i) the fair value of an asset less costs of disposal and (ii) its value in use. Assets are tested for impairment at the lowest level in which there are separately identifiable cash flows largely independent of the cash flows of other groups of assets or CGUs. Amortized nonfinancial assets are reviewed for potential reversal of impairment at the end of each reporting period. See Note 3.2.2 for further information on impairment of nonfinancial assets other than Goodwill. |
Foreign currency translation | 2.4.5 Foreign currency translation 2.4.5.1 Functional and presentation currency The functional currency of the Company and its subsidiaries is the USD, the currency of the primary economic context in entity operates. To determine the functional currency, the Company makes judgments. The Company reconsiders the functional currency in the event of a change in conditions that may determine the primary economic context. The presentation currency of the Company is USD. 2.4.5.2 Transactions and balances Transactions in a currency other than the functional currency (“foreign currency”) are accounted for at the exchange rate as of each transaction date. Foreign exchange gains and losses from the settlement of transactions and the translation at the closing exchange rate of monetary assets and liabilities denominated in foreign currency are recognized in the consolidated statements of profit or loss and other comprehensive income in “Other financial income (expense)” under “Net changes in foreign exchange rate”. Monetary balances in foreign currency are converted at each country’s official exchange rate as of every year-end. |
Financial instruments | 2.4.6 Financial instruments 2.4.6.1 Financial assets 2.4.6.1.1 Classification (i) Financial assets at amortized cost Financial assets are classified and measured at amortized cost provided that they meet the following criteria: (i) the purpose of the Company’s business model is to maintain the asset to collect the contractual cash flows; and (ii) contractual conditions, on specific dates, give rise to cash flows only consisting in payments of principal and interest on the outstanding principal. (ii) Financial assets at fair value Financial assets are classified and measured at fair value through the consolidated statements of other comprehensive income if the financial assets are held in a business model whose objective is achieved by obtaining contractual cash flows and selling financial assets. However, financial assets are classified and measured at fair value through the consolidated statements of profit or loss if any of the aforementioned criteria is not met. 2.4.6.1.2 Recognition and measurement Upon initial recognition, the Company measures a financial asset at its fair value plus, the transaction costs that are directly attributable to the acquisition of the financial asset. The Company reclassifies financial assets when and only when it changes its model for managing these assets. 2.4.6.1.3 Impairment of financial assets The Company recognizes an allowance for Expected Credit Losses (“ECL”) for all financial assets not held at fair value through profit or loss. ECLs are based on the difference between contractual cash flows owed and all the cash flows that the Company expects to receive. For trade and other receivables, the Company calculates an allowance for ECL at each reporting date. Expected credit losses in trade and other receivables are estimated on a case-by-case The Company recognizes the impairment of a financial asset when contractual payments are more than 90 (ninety) days past due or when the internal or external information shows that it is unlikely that the pending contractual amounts be received. A financial asset is derecognized when there is no fair expectation to recover contractual cash flows. 2.4.6.1.4 Offsetting of financial instruments Financial assets and liabilities are disclosed separately in the consolidated statement of financial position unless the following criteria are met: (i) the Company has a legally enforceable right to set off the recognized amounts, and (ii) the Company intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. A right to set off is that available to the Company to settle a payable to a creditor by applying against it a receivable from the same counterparty. Jurisdiction and laws applicable to relations between parties are considered upon assessing whether there is such a legally enforceable right. 2.4.6.2 Financial liabilities and equity instruments Liabilities and equity instruments issued by the Company are classified as financial liabilities or equity according to the substance of the agreement and its definition. (i) Financial liabilities A contractual agreement is classified as a financial liability and is measured at fair value with changes in the consolidated statements of profit or loss and other comprehensive income. The financial liabilities are initially recognized at fair value and after that, at their amortized cost (using the effective interest method) or at fair value through the consolidated statements of profit or loss and other comprehensive income. The effective interest method is used in the calculation of the amortized cost of a financial liability and in the allocation of interest expense during the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments throughout the expected life of the financial liability. The Company derecognizes financial liabilities when obligations are discharged, cancelled or expired. The difference between the carrying amount of such financial liability and the consideration paid is recognized in the statements of profit or loss and other comprehensive income. When an existing financial liability is replaced by another one in terms that are substantially different from the original term or the terms of an existing liability change substantially, it results in the derecognition of the original liability and recognition of a new liability. The difference in the related accounting values is recognized in the statements of profit or loss and other comprehensive income. Borrowings are recognized initially at fair value, net of transaction costs incurred. Financial liabilities related to purchasing value units (“UVA” by Spanish acronym) are adjusted by the benchmark stabilization coefficient (“CER” by Spanish acronym) at each closing date, recognizing the effects on “Other financial income (expense)” under “Remeasurement in borrowings”. (ii) Equity instruments An equity instrument is any agreement that evidences an interest in the Company’s net assets and is recognized for the amount of profit earned for the issuance of the equity instrument, net of direct issuance costs. (iii) Compound financial instruments The component parts of a compound instrument issued by the Company are classified separately as financial liabilities and equity instruments according to the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. An equity instrument is a conversion option that will be settled by the exchange of a fixed amount of cash or another financial asset for a fixed number of Company own equity instruments. The fair value of the liability component, if any, is estimated using the prevailing market interest rate for similar nonconvertible instruments. This amount is recorded as a liability at amortized cost using the effective interest method until extinguished upon conversion or at the instrument redemption date. A conversion option classified as equity is determined by deducting the liability component amount from the fair value of the compound instrument as a whole. It is recognized and included in equity, net of income tax effects, and it not subsequently remeasured. Moreover, the conversion option classified as an equity instrument remains in equity until the conversion option is exercised, in which case, the balance recognized in equity is transferred to another equity account. When the conversion option is not exercised at the redemption date of negotiable obligations, the balance recognized in equity is transferred to retained earnings. No profit or loss is recognized in the statement of profit or loss after the conversion or redemption of the conversion option. Transaction costs related to the issuance of compound financial instruments are allocated to liability and equity components in proportion to the allocation of gross proceeds. Transaction costs related to the equity component are recognized directly in equity. Transaction costs related to the liability component are included in the carrying amount of liability component and are amortized throughout the life of negotiable obligations using the effective interest method. |
Recognition of revenue from contracts with customers and other income | 2.4.7 Recognition of revenue from contracts with customers and other income 2.4.7.1 Revenue from contracts with customers Revenue from contracts with customers related to the sale of Crude oil, Natural gas and LPG is recognized when control of the assets is transferred to the customer upon delivery of inventory. It is recognized for an amount of consideration to which the Company expects to be entitled in exchange for these assets. As of December 31, 2023, the normal credit term is 19 days for Crude oil sales and 50 days for Natural gas and LPG sales. The Company has reached the conclusion that it acts as principal in its revenue agreements because it regularly controls assets before transferring them to the customer. In Note 5.1 revenues was broken down by (i) product type and (ii) distribution channels. All Company revenue is recognized at a point in time. 2.4.7.2 Contract balances Contract assets A contract asset is defined as the right to obtain a consideration in exchange for the goods or services transferred to the customer. Should goods or services be transferred before receiving the agreed-upon payment or consideration, a contract asset is recognized for the consideration received. The Company has no contract assets as of December 31, 2023 and 2022. Contract liabilities A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration. If the customer pays consideration before the Company transfers the goods or services, it recognizes a contract liability. When the Company fulfills its obligations according to the agreement, liabilities are recognized as revenue. The Company has no contract liabilities as of December 31, 2023 and 2022. 2.4.7.3 Other operating income Other operating income is mainly included: (i) gain related to the transfer of conventional assets (Note 1.2.1); (ii) gain from Exports Increase Program (Note 2.5.1.1); (iii) gain from farmout agreement (Note 29.2.1.1 and 29.2.1.2) and; (iv) the provision of services to third parties that are not directly related to the main activity. The Company recognizes revenue over time using an input method to measure progress toward service completion because the customer simultaneously receives and consumes the benefits provided by the Company. |
Inventories | 2.4.8 Inventories Inventories are made up of crude oil and materials and spare parts, and they are measured at the lower of cost and net realizable value. The cost of Crude oil inventories includes production expenses and other costs incurred in bringing the inventories to their present location and condition to make the sale. The cost of materials and spare parts is determined using the weighted average cost method. The net realizable value is the estimated selling price in the ordinary course of business less the estimated direct costs necessary to make the sale. The recoverable amount of these assets is assessed at each reporting date, and the resulting loss is recognized in the consolidated statements of profit or loss and other comprehensive income. Significant materials and spare parts, that the Company expects to use in the next 12 (twelve) months, are included in “Property, plant and equipment”. |
Cash and cash equivalents | 2.4.9 Cash and cash equivalents For the presentation of the consolidated statement of cash flows, cash and cash equivalents include: (i) cash on hand in banks; (ii) demand deposits in financial institutions; and (iii) other short-term highly liquid investments originally maturing in 3 (three) or less months, readily convertible into known cash amounts and subject to insignificant risk of changes in value. Overdrafts in checking accounts, if any, are disclosed within current liabilities in the consolidated statement of financial position. They are not disclosed in the consolidated statement of cash flows as they do not comprise the Company’s cash and cash equivalents. |
Equity | 2.4.10 Equity Changes in equity were accounted for according to legal or regulatory standards; and Company decisions and the Company’s accounting policies and decisions. a. Capital stock Capital stock is made up of shareholder contributions. It is represented by outstanding shares at nominal value and is made up of series “A” and “C” shares. b. Other equity instruments The other equity instruments are related to a capital stock generated by a cashless exercise of warrants, which allows to the holders, obtains 1 (one) Series A share for each 31 (thirty-one) c. Legal reserve The legal reserve according to the Mexican Business Associations Law, required to allocate at least 5% of net profit for the year based on the Company’s nonconsolidated financial statements, and must be increase until it is equal to 20% of capital. d. Share repurchase reserve The share repurchase reserve is related to the creation of a reserve for the acquisition of the Company’s own shares, which is subject to Mexico’s Securities Market Law provisions and should be approved by the Company’s Board in compliance with the following requirements: (i) it should be made in an authorized stock exchange in Mexico; (ii) it should be carried out at market price unless it involves public offerings authorized by the Mexican Banking and Securities Commission (“CNBV” by Spanish acronym). The Regular Shareholders’ Meeting will agree the maximum amount that the Company may earmark for the share repurchase. e. Other accumulated comprehensive income (losses) Other comprehensive income comprises actuarial gains and losses for defined benefit plan remeasurement and the related tax effect. f. Accumulated profits (losses) Accumulated profits or losses comprise retained earnings or accumulated losses that was not distributed, the amounts transferred from other comprehensive income and prior-year adjustments. They may be distributed as dividends by Company decision, provided that they are not subject to legal or contractual restrictions. Similarly, for capital reduction purposes, these distributions will be subject to income tax assessment according to the applicable rate, except for remeasured contributed capital stock or distributions from the net taxable profit account (“CUFIN, by Spanish acronym). |
Employee benefits | 2.4.11 Employee benefits 2.4.11.1 Short-term obligations Salaries and payroll taxes expected to be settled within 12 (twelve) months after period-end Costs related to compensated absences, such as vacation, are recognized as they are accrued. In Mexico, the employees’ share in profit (“PTU, by Spanish acronym”) is paid to qualifying employees; is calculated using the income tax base, except for the following: (i) The employees’ share in Company profit paid during the year or prior-year tax losses pending application; and (ii) Payments that are also exempt for employees. The PTU is recognized in the consolidated statements of profit or loss and other comprehensive income. Mexico Labor Law Reform introduces a limit to the amount payable for employees’ share in profit; the PTU amount allocated to each worker should not exceed the higher of the equivalent to 3 (three) months of their current salary or the average PTU collected by the employee over the previous 3 (three) years. Should the PTU assessed be lower than or equal to such cap, the PTU incurred will be determined by applying 10% of the Company’s taxable profit. Should the incurred PTU exceed such limit, the cap should be applied, and it will be considered the PTU incurred for the period. 2.4.11.2 Employee benefits The Company maintains a defined benefit plan described in Note 23. Which are related to a series of pension benefits that an employee will receive at retirement, depending on 1 (one) or more factors, such as age, years of service and compensation. According to the conditions established in each plan, the benefit may consist of a single payment or payments supplementary to pension system payments. The cost of employee defined benefit plans is recognized periodically according to the contributions made by the Company. Labor cost liabilities are accumulated in the periods in which employees render the services that give rise to the consideration. The defined benefit obligation liability recognized in the consolidated statement of financial position is the present value of the defined benefit obligation, net of the fair value of plan assets. The defined benefit obligation is calculated at least as of every year-end Actuarial profit and losses derived from changes in actuarial assumptions are recognized in other comprehensive income in the period in which they arise, and that shall not be reclassified to profit (loss) in subsequent years, likewise, the costs of past services are recognized immediately in the consolidated statements of profit or loss and other comprehensive income. |
Borrowings costs | 2.4.12 Borrowing costs General or specific borrowings costs directly attributable to the acquisition, construction or production of assets that necessarily require a substantial period of time to be ready for their intended use or sale are added to the cost of these assets until they are ready for their intended use or sale. Income earned on the temporary investment of specific borrowings is deducted from borrowings costs eligible for capitalization. Other borrowings costs are accounted for in the period in which they are incurred. For the years ended December 31, 2023, 2022 and 2021, the Company has not capitalized borrowings costs because it had no qualifying assets, except for interest on the discount at present value on lease liabilities disclosed in Note 15. |
Provisions and contingent liabilities | 2.4.13 Provisions and contingent liabilities The Company recognizes provisions when the following conditions are met: (i) it has a present or future obligation as a result of a past event; (ii) it is probable that an outflow of resources will be required to settle the obligation; and (iii) a reliable estimate can be made. No provisions for operating future losses are recognized. In the case of provisions in which the time value of money is significant, as is the case of well plugging and abandonment and environmental remediation, these provisions are determined as the present value of the expected cash outflow for settling the obligation. Provisions are discounted at a post-tax 2.4.13.1 Provision for contingencies Provisions for contingencies are measured at the present value of the amounts expected to be made to settle the present obligation, considering the best information available upon preparing the financial statements, based on the premises and methods considered appropriate, and based on the opinion of the Company’s legal counsel. Estimates are regularly reviewed and adjusted as additional information is made available to the Company. Contingent liabilities are: (i) potential obligations from past events and whose existence will be confirmed only by the occurrence or nonoccurrence of uncertain future events not wholly within the entity’s control; or (ii) present obligations from past events that will not likely require an outflow of resources for its settlement, or which amount cannot be estimated reliably. Contingent liabilities which probability is remote are not disclosed. 2.4.13.2 Well plugging and abandonment provision The Company recognizes a provision for well pugging and abandonment when there is a legal or constructive obligation as a result of past events, it is probable that a cash flow will be required to settle the obligation, and the amount to be disbursed can be reliably estimated. In general, the obligation arises when the asset is installed, or the wells of land or environment at the site is altered. When the liability is initially recognized, the present value of estimated costs is capitalized, increasing the carrying amount of the assets related to the crude oil and natural gas extraction insofar as they were incurred for the development or construction of the well. The other provisions from an enhanced development or construction of the crude oil and natural gas production wells and facilities increase the cost of the related asset when the liability arises. The changes in the estimated time or cost of well plugging and abandonment are afforded a prospective treatment by booking an adjustment to the related provision and asset. 2.4.13.3 Provision for environmental remediation The provision for environmental remediation is recognized when it is likely that a soil remediation be conducted, and costs may be estimated reliably. Generally, the timing of recognition of these provisions coincides with the commitment to a formal plan of action or, if earlier, on divestment or on closure of inactive sites. The amount recognized is the best estimate of the expenditure required to settle the obligation. If the time value of money is material, the recognized value is the present value of the estimated future expense. The effect of such estimate is recognized in the consolidated statements of profit or loss and other comprehensive income. |
Income tax | 2.4.14 Income tax Income tax for the period includes current and deferred income tax. Income tax is recognized in the consolidated statements of profit or loss and other comprehensive income except if it is related to items recognized in other comprehensive income or directly in equity. Current and deferred tax assets and liabilities were not discounted and are stated at nominal values. Income tax rates effective in Argentina and Mexico stand at 35% and 30% as of December 31, 2023, 2022 and 2021, respectively. For further information, see Note s 2.4.14.1 Current income tax The Company recognizes a current income tax liability as of every year-end, The Company regularly assesses the positions adopted in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation. When tax treatments are uncertain and it is probable that a tax authority will accept the tax treatment afforded by the Company, income tax is recognized according to their calculations and interpretations. If it is not considered likely, the uncertainty is shown using the most likely amount method or the expected value method depending on the method that best predicts the resolution to the uncertainty. The Company does business in several jurisdictions and is governed by effective laws enacted by each tax authority. The final assessment of current income tax for certain transactions and calculations is uncertain as there are cases in which tax regulations are subject to Company interpretation. 2.4.14.2 Deferred income tax Deferred income tax is calculated using the liability method by comparing the tax bases of assets and liabilities and their carrying amounts in the financial statements to assess temporary differences. Deferred tax assets and liabilities are booked at nominal values and measured at the tax rates that are expected to apply to the period in which the liability is settled or the asset realized based on tax rates (and tax laws) enacted as of period-end. Deferred income tax assets and liabilities are only offset when there is a legally enforceable right and they are related to income tax levied by the same tax authority. Deferred income tax assets are recognized only insofar as it is probable that future taxable profit will be available and may be used to offset temporary differences. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient profit will be available to allow all or part of the asset to be recovered. |
Share-based payments | 2.4.15 Share-based payments The Company grants to some employees shared-based compensation; whereby employees render services as consideration for equity instruments (equity-settled transactions). Equity-settled transactions The cost of equity-settled transactions is determined by the fair value at vesting date using a proper valuation method (Note 31). Such cost is recognized in the consolidated statements of profit or loss and other comprehensive income in “General and administrative expenses” under “Share-based payments” along with the related capital increase during the period in which the service is rendered and, as the case may be, performance conditions are met. On March 22, 2018, the Company approved a Long-Term Incentive Plan (“LTIP”) whose goal is attract and retain talented persons such as officers, directors, employees and consultants. The LTIP includes the following mechanisms for rewarding and retaining key personal: (i) Stock option plan (“SOP”) (equity-settled) The stock option plan grants the participant the right to buy a number of shares over certain term. The cost of the equity-settled plan is measured at grant date considering the specific terms and conditions. The equity-settled compensation cost is recognized in the consolidated statements of profit or loss and other comprehensive income in “General and administrative expenses” under “Share-based payments”. (ii) Restricted stock (“RS”) (equity-settled) The restricted stock plan grants the participant additional benefits are met through a stock option plan which has been classified as an equity-settled share-based payment. The cost of the equity-settled plan is measured at grant date considering the specific terms and conditions. The equity-settled compensation cost is recognized in the consolidated statements of profit or loss and other comprehensive income in “General and administrative expenses” under “Share-based payments”. (iii) Performance restricted stock (“PRS”) (equity-settled) The performance restricted stock grants the participant, which entitle them to receive PRS after having reached certain performance targets over a service period. PRS are classified as equity-settled share-based payments. The cost of the equity-settled plan is measured at grant date considering the specific terms and conditions. The equity-settled compensation cost is recognized in the consolidated statements of profit or loss and other comprehensive income in “General and administrative expenses” under “Share-based payments”. |
Investments in associates | 2.4.16 Investments in associates An associate is an entity over which the Company has significant influence, being the power to participate in the financial and operating policy decisions of the associate but not control over it. The considerations regarding control and significant influence are similar to those made by the Company in relation to its subsidiaries (Note 2.3.1). Associates are the investments in which an investor has significant influence but not control. Investments are initially recognized at acquisition cost and then using the equity method whereby interests are recognized in profit or loss and in equity. The equity method is used as from the date when the significant influence over the associates is exercised. The associates’ financial statements used to apply the equity method were prepared using the same accounting period as of December 31, 2023 and 2022, and the same accounting policies employed in preparing these consolidated financial statements. The Company’s interests in the associates’ net profits or losses, after acquisition, are recognized in the statements of profit or loss and other comprehensive income. As of December 31, 2023 and 2022, the Company valued these investments at acquisition cost without recognition of the equity method for 8,619 and 6,443, respectively. |
Going concern | 2.4.17 Going concern The Board oversees the Group’s cash position regularly and liquidity risk throughout the year to ensure that there are sufficient funds to meet expected financing, operating and investing requirements. Sensitivity tests are conducted to disclose the latest expense expectations, Crude oil and Natural gas prices and other factors so that the Group may manage risk. Considering the macroeconomic context, the result of operations and the Group’s cash position as of December 31, 2023 and 2022, the Directors asserted, upon approving the consolidated financial statements, that the Group may reasonably be expected to fulfill its obligations in the foreseeable future. Therefore, these consolidated financial statements were prepared on a going concern basis. |
Basis of preparation and mate_3
Basis of preparation and material accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of equity interest in subsidiaries | Below are the Company’s main subsidiaries: Subsidiary name Equity interest Place of business Main activity December 31, 2023 December 31, 2022 December 31, 2021 Vista Energy Holding I, S.A. de C.V. (“Vista Holding I”) 100 % 100 % 100 % Mexico Holding company Vista Energy Holding II, S.A. de C.V. (“Vista Holding II”) 100 % 100 % 100 % Mexico Exploration and production (1) Vista Energy Holding III, S.A. de C.V. 100 % 100 % 100 % Mexico Services Vista Energy Holding IV, S.A. de C.V. 100 % 100 % 100 % Mexico Services Vista Oil & Gas Holding V B.V. 100 % 100 % 100 % Netherland Holding company Vista Complemento S.A. de C.V. (3) — % — % 100 % Mexico Services Vista Holding VII S.á.r.l. 100 % 100 % 100 % Luxembourg Holding company Vista Argentina 100 % 100 % 100 % Argentina Exploration and production (1) Subsidiary name Equity interest Place of business Main activity December 31, 2023 December 31, 2022 December 31, 2021 Aleph Midstream S.A. (“Aleph”) 100 % 100 % 100 % Argentina Services (2) Aluvional S.A. (“Aluvional”) 100 % 100 % 100 % Argentina Mining and industry AFBN S.R.L. (“AFBN”) 100 % 100 % 100 % Argentina Exploration and production (1) VX Ventures Asociación en Participación 100 % 100 % 100 % Mexico Holding company (1) It refers to the exploration and production of natural gas and crude oil. (2) Including operations related to the capture, treatment, transport and distribution of hydrocarbons and derivatives. (3) Subsidiary merged with Vista Holding II on January 1, 2022. |
Summary of useful lives of property plant and equipment | The Company’s remainder items of property, plant and equipment (including significant identifiable components) are depreciated using the straight-line method based on their estimated useful lives, as detailed below: Buildings 50 years Machinery and installations 10 years Equipment and furniture 10 years Vehicles 5 years Computer equipment 3 years |
Significant accounting judgem_2
Significant accounting judgements estimates and assumptions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of assumptions used In sensitivity analysis for CGU's | The Company’s calculation of the value in use related to the aforementioned CGUs is more sensitive to the following assumptions: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Argentina Mexico Argentina Mexico Argentina Mexico Discount rates (after taxes) 12.9 % 6.0 % 11.9 % 7.9 % 10.4 % 6.1 % Discount rates (before taxes) 21.9 % 8.2 % 18.7 % 11.6 % 16.6 % 10.0 % Prices of crude oil, natural gas and LPG Crude oil (USD/bbl) (1) 2023 — — 80.3 72.2 70.1 63.0 2024 82.4 73.4 92.8 88.3 70.5 63.5 2025 79.0 70.9 84.0 79.9 65.9 58.9 2026 72.6 64.5 79.3 78.3 64.6 58.9 As from 2027 66.4 61.3 79.3 78.3 64.6 58.9 Natural gas-local As from 2.8 3.3 3.9 3.0 3.3 3.0 LPG-local As from 296.3 — 250.4 — 300 — (1) The prices correspond to Brent and Maya, for Argentina and Mexico, respectively. |
Schedule of sensitivity analysis for CGU's with respect to change in assumptions | As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Argentina (1) Mexico Argentina (2) Mexico Argentina (1) Mexico Discount rate + 10% + 10% + 10% Carrying amount (136 ) (2,559 ) — — (98 ) (98 ) Expected prices of crude oil, natural gas and LPG - 10% - 10% - 10% Carrying amount (349 ) (13,402 ) (41,816 ) — (31,773 ) — (1) Related to the non-operating (2) Related to the operated concessions of conventional oil and gas exploration and production CGU. |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of assets and liabilities by geographical area | The following chart summarizes noncurrent assets per geographical area: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Argentina 2,122,735 1,638,973 1,260,851 Mexico 49,364 51,316 47,837 Total noncurrent assets 2,172,099 1,690,289 1,308,688 |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of revenue from contract with customers | Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Goods sold 1,168,774 1,187,660 665,310 Total revenue from contracts with customers 1,168,774 1,187,660 665,310 Recognized at a point in time 1,168,774 1,187,660 665,310 |
Schedule of revenue through different channels | Type of products Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Revenues from crude oil sales 1,097,316 1,113,411 606,183 Revenues from natural gas sales 67,290 68,663 54,301 Revenues from LPG sales 4,168 5,586 4,826 Total revenue from contracts with customers 1,168,774 1,187,660 665,310 Distribution channels Year ended Year ended Year ended Exports of crude oil 642,155 604,977 195,279 Local crude oil for refineries 455,161 508,434 410,904 Exports of natural gas 20,359 13,531 169 Local natural gas for industries 19,606 20,093 17,320 Local natural gas for retail distribution companies 17,639 18,829 18,351 Local natural gas for electric power generation 9,686 16,210 18,461 LPG sales 4,168 5,586 4,826 Total revenue from contracts with customers 1,168,774 1,187,660 665,310 |
Cost of sales (Tables)
Cost of sales (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of operating expenses | Year ended Year ended Year ended Fees and compensation for services 48,729 66,155 53,024 Salaries and payroll taxes 21,072 22,344 16,591 Employee benefits 5,926 6,481 4,877 Transport 5,214 5,963 3,274 Consumption of materials and spare parts 4,933 16,824 15,912 Easements and fees 4,547 11,427 9,572 Other 4,264 4,191 3,873 Total operating costs 94,685 133,385 107,123 |
Schedule of crude oil fluctuation | Year ended Year ended Year ended Crude oil stock at beginning of the year (Note 19) 4,722 5,222 6,127 Less: Crude oil stock at end of the year (Note 19) (2,664 ) (4,722 ) (5,222 ) Total crude oil stock fluctuation 2,058 500 905 |
Schedule of royalties and others | Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Royalties 128,723 144,837 86,241 Export duties 48,090 43,840 13,123 Total royalties and others 176,813 188,677 99,364 |
Selling expenses (Tables)
Selling expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of selling expenses | Year ended Year ended Year ended Transport 33,006 28,686 19,554 Taxes, rates and contributions 14,908 16,522 13,921 Fees and compensation for services 10,490 5,137 2,806 Tax on bank account transactions 10,388 9,595 6,061 (Reversal of) allowance for expected credit losses — (36 ) 406 Total selling expenses 68,792 59,904 42,748 |
General and administrative ex_2
General and administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of general and administrative expenses | Year ended Year ended Year ended Salaries and payroll taxes 23,300 27,178 20,242 Share-based payments (Note 31) 23,133 16,576 10,592 Fees and compensation for services 11,764 9,848 7,412 Employee benefits 4,678 3,360 2,124 Institutional promotion and advertising 2,174 2,066 2,237 Taxes, rates and contributions 1,884 1,859 1,311 Other 3,550 2,939 1,940 Total general and administrative expenses 70,483 63,826 45,858 |
Exploration expenses (Tables)
Exploration expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of exploration and evaluation expenses | Year ended Year ended Year ended Geological and geophysical expenses 16 736 561 Total exploration expenses 16 736 561 |
Other operating income and ex_2
Other operating income and expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of other operating income | Year ended Year ended Year ended Gain related to the transfer of conventional assets (1) 89,659 — — Gain from Exports Increase Program (2) 81,232 — — Gain from farmout agreement (3) 24,429 18,218 9,050 Other services income (4) 8,492 8,480 4,236 Gain from assets disposal (5) — — 9,999 Total other operating income 203,812 26,698 23,285 (1) See Note 1.2.1. (2) Including 86,173 of gain, net of related costs (Note 2.5.1.1). (3) The years ended December 31, 2023, 2022 and 2021, including 26,650 20,000 and 10,000 of payments received by Trafigura Argentina S.A. (“Trafigura”), related to the farmout agreements, net of disposals of oil and gas properties and goodwill for 2,051 and 170; 1,654 and 128, and 882 and 68, respectively (Notes 13 and 14). (4) Services not directly related to the Company’s main activity. (5) The year ended December 31, 2021 including: (i) 9,788 related to the transfer of the working interest in CASO (Note 29.2.6); (ii) 198 related to Mexico exploratory assets transfer (Note 29.2.7) and; (iii) 13 related to the expiration of Sur Rio Deseado Este exploitation concession (29.2.8). |
Schedule of other operating expenses | Year ended Year ended Year ended (Provision for) environmental remediation (1) (485 ) (2,133 ) (1,029 ) Restructuring and reorganization expenses (2) (276 ) (531 ) (2,284 ) Reversal of (provision for) materials and spare parts obsolescence (1) 1,132 (278 ) (249 ) (Provision for) contingencies (1) (69 ) (379 ) (652 ) Total other operating expenses 302 (3,321 ) (4,214 ) (1) These transactions did not generate cash flows. (2) The Company booked restructuring expenses including payments, fees and transaction costs related to the changes in the Group’s structure. |
Financial income (expense), n_2
Financial income (expense), net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of interest income | 11.1 Interest income Year ended Year ended Year ended Financial interest 1,235 809 65 Total interest income 1,235 809 65 |
Schedule of interest expense | 11.2 Interest expense Year ended Year ended Year ended Borrowings interest (Note 18.2) (21,879 ) (28,886 ) (50,660 ) Total interest expense (21,879 ) (28,886 ) (50,660 ) |
Schedule of other financial results | 11.3 Other financial income (expense) Year ended Year ended Year ended Amortized cost (Note 18.2) (1,810 ) (2,365 ) (4,164 ) Changes in the fair value of warrants (Note 18.5.1) — (30,350 ) (2,182 ) Net changes in foreign exchange rate 18,458 33,263 14,328 Discount of assets and liabilities at present value 2,137 (2,561 ) (2,300 ) Changes in the fair value of financial assets 19,437 (17,599 ) 5,061 Interest expense on lease liabilities (Note 15) (2,894 ) (1,925 ) (1,079 ) Discount for well plugging and abandonment (Note 22.1) (2,387 ) (2,444 ) (2,546 ) Remeasurement in borrowings (1) (72,044 ) (52,817 ) (19,163 ) Other (2) (26,381 ) 9,242 4,851 Total other financial income (expense) (65,484 ) (67,556 ) (7,194 ) (1) Related to corporate bonds (“ON” by its Spanish acronym) in UVA adjusted by CER (Note 18.2). (2) For the years ended December 31, 2023 and 2022, including 819 and 2,515 from loss for ON swapping, respectively (Notes 18.1 and 18.2). |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of basic and diluted earnings per share | Year ended Year ended Year ended Profit for the year, net 396,955 269,535 50,650 Weighted average number of ordinary shares 93,679,904 87,862,531 88,242,621 Basic earnings per share 4.237 3.068 0.574 Year ended Year ended Year ended Profit for the year, net 396,955 269,535 50,650 Weighted average number of ordinary shares (1) 99,232,919 97,830,538 93,273,978 Diluted earnings per share 4.000 2.755 0.543 (1) As of December 31, 2023, the Company has 95,355,432 outstanding shares (Note 21.1) that cannot exceed 98,781,028 shares. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule of plant property equipment | The changes in property, plant and equipment for the year ended December 31, 2023, are as follows: Land and buildings Vehicles, machinery, facilities, computer hardware and furniture Oil and gas properties Production wells and Works in progress Materials and Total Cost Amounts as of 10,794 43,522 513,164 1,607,895 153,948 41,958 2,371,281 Additions — 1 — — 636,189 98,124 734,314 Transfers 3,474 7,551 — 738,092 (666,739 ) (82,378 ) — Disposals — (13 ) (2,475 ) (1) (930 ) (2) — — (3,418 ) Impairment of long -lived (3) — — (11,982 ) (16,393 ) — — (28,375 ) Disposals related to the (4) (1,694 ) (7,537 ) — (292,020 ) (383 ) (12,749 ) (314,383 ) Amounts as of December 12,574 43,524 498,707 2,036,644 123,015 44,955 2,759,419 Accumulated depreciation Amounts as of (300 ) (15,587 ) (67,947 ) (681,108 ) — — (764,942 ) Depreciation (3 ) (4,921 ) (13,634 ) (246,238 ) — — (264,796 ) Disposals — 10 424 (1) — — — 434 Impairment of long -lived (3) — — 502 3,288 — — 3,790 Disposals related to the (4) 71 5,259 — 188,524 — — 193,854 Amounts as of (232 ) (15,239 ) (80,655 ) (735,534 ) — — (831,660 ) Net value Amounts as of 12,342 28,285 418,052 1,301,110 123,015 44,955 1,927,759 (1) Related to the farmout agreement I and II mentioned in Note 29.2.1.1 and 29.2.1.2. (2) Related to the re-estimation (3) See Note 3.2.2. (4) See Note 1.2.1. The changes in property, plant and equipment for the year ended December 31, 2022, are as follows: Land and Vehicles, machinery, and fixtures Oil and gas Production wells and Works in Materials and Total Cost Amounts as of 2,709 23,070 446,291 1,174,699 91,245 27,796 1,765,810 Additions 8,550 285 — — 433,942 97,243 540,020 Transfers — 20,171 — 433,909 (371,239 ) (82,841 ) — Disposals (465 ) (4 ) (1,870 ) (1) (713 ) (2) — (240 ) (3,292 ) Incorporation for the acquisition of AFBN assets — — 68,743 (3) — — — 68,743 Amounts as of 10,794 43,522 513,164 1,607,895 153,948 41,958 2,371,281 Accumulated depreciation Amounts as of (294 ) (10,834 ) (53,623 ) (477,077 ) — — (541,828 ) Depreciation (17 ) (4,756 ) (14,540 ) (204,031 ) — — (223,344 ) Disposals 11 3 216 (1) — 230 Amounts as of (300 ) (15,587 ) (67,947 ) (681,108 ) — — (764,942 ) Net value Amounts as of 10,494 27,935 445,217 926,787 153,948 41,958 1,606,339 (1) Related to the farmout agreement I, mentioned in Note 29.2.1.1. (2) Related to the re-estimation (3) See Note 29.2.5 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |
Schedule of reconciliation of changes in intangible assets and goodwill | Below are the changes in goodwill and other intangible assets for the year ended December 31, 2023: Goodwill Other Cost Amounts as of December 31, 2022 28,288 18,246 Additions — 7,293 Disposals (170 ) (1) — Disposals related to the transfer of conventional assets (2) (5,542 ) (1,143 ) Amounts as of December 31, 2023 22,576 24,396 Accumulated amortization Amounts as of December 31, 2022 — (11,454 ) Amortization — (4,059 ) Disposals related to the transfer of conventional assets (2) — 1,143 Amounts as of December 31, 2023 — (14,370 ) Net value Amounts as of December 31, 2023 22,576 10,026 (1) Related to (2) See Note 1.2.1. Below are the changes in goodwill and other intangible assets for the year ended December 31, 2022: Goodwill Other Cost Amounts as of December 31, 2021 28,416 12,216 Additions — 6,030 Disposals (128 ) (1) — Amounts as of December 31, 2022 28,288 18,246 Accumulated amortization Amounts as of December 31, 2021 — (8,338 ) Amortization — (3,116 ) Amounts as of December 31, 2022 — (11,454 ) Net value Amounts as of December 31, 2022 28,288 6,792 (1) Related to the farmout agreement I mentioned in Note 29.2.1.1. |
Right of use assets and lease_2
Right of use assets and lease liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of carrying amounts of the Company´s right of use assets and lease and the movements during the years | The carrying amount of the Company’s right-of-use Right-of-use Total lease Buildings Facilities and Total Amounts as of December 31, 2022 986 25,242 26,228 (29,194 ) Additions — 63,336 63,336 (68,499 ) Reestimation (14 ) 1,450 1,436 (1,675 ) Depreciation (1) (584 ) (29,391 ) (29,975 ) — Payments — — — 36,780 Interest expense (2) — — — (7,880 ) Amounts as of December 31, 2023 388 60,637 61,025 (70,468 ) (1) Including the depreciation of drilling services capitalized as “Works in progress” for 22,400. (2) Including drilling agreements capitalized as “Works in progress” for 4,986. Right-of-use Total lease Buildings Facilities and Total Amounts as of December 31, 2021 1,211 25,243 26,454 (27,074 ) Additions — 449 449 (449 ) Reestimation 348 9,206 9,554 (9,554 ) Depreciation (1) (573 ) (9,656 ) (10,229 ) — Payments — — — 11,494 Interest expense (2) — — — (3,611 ) Amounts as of December 31, 2022 986 25,242 26,228 (29,194 ) (1) Including the depreciation of drilling services capitalized as “Works in progress” for 1,827. (2) Including drilling agreements capitalized as “Works in progress” for 1,686. |
Deferred income tax assets an_2
Deferred income tax assets and liabilities and income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Schedule of temporary difference, unused tax losses and unused tax credits | Deferred income tax assets and liabilities break down as follows: As of Profit (loss) Other As of Tax losses and other unused tax credits (1) 4,717 3,215 — 7,932 Provisions 4,706 (436 ) — 4,270 Right-of-use 1,038 2,267 — 3,305 Employee benefit 3,909 (356 ) (2,298 ) 1,255 Other 1,447 (1,420 ) — 27 Assets for deferred income tax 15,817 3,270 (2,298 ) 16,789 Property, plant and equipment (146,154 ) (132,570 ) — (278,724 ) Tax inflation adjustment (108,363 ) 6,124 — (102,239 ) Trade and other receivables (1,347 ) (10,353 ) — (11,700 ) Borrowings (921 ) (47 ) — (968 ) Inventories (898 ) 519 — (379 ) Short-term investments (1,210 ) 1,046 — (164 ) Liabilities for deferred income tax (258,893 ) (135,281 ) — (394,174 ) Deferred income tax, net (243,076 ) (132,011 ) (2,298 ) (377,385 ) As of Profit (loss) Other As of Tax losses and other unused tax credits (1) 6,972 (2,255 ) — 4,717 Provisions 7,265 (2,559 ) — 4,706 Employee benefit 2,913 (467 ) 1,463 3,909 Right-of-use 161 877 — 1,038 Other (501 ) 1,948 — 1,447 Assets for deferred income tax 16,810 (2,456 ) 1,463 15,817 Property, plant and equipment (150,786 ) 4,632 — (146,154 ) Tax inflation adjustment (36,038 ) (72,325 ) — (108,363 ) Trade and other receivables 1,784 (3,131 ) — (1,347 ) Short-term investments (1,925 ) 715 — (1,210 ) Borrowings (1,225 ) 304 — (921 ) Inventories (1,269 ) 371 — (898 ) Liabilities for deferred income tax (189,459 ) (69,434 ) — (258,893 ) Deferred income tax, net (172,649 ) (71,890 ) 1,463 (243,076 ) (1) As of December 31, 2023 and 2022, |
Schedule of deferred income tax assets and liabilities | The following amounts, are disclosed in the consolidated statement of financial position: As of December 31, As of December 31, Deferred income tax assets, net 5,743 335 Deferred income tax assets, net 5,743 335 As of December 31, As of December 31, 2022 Deferred income tax liabilities, net 383,128 243,411 Deferred income tax liabilities, net 383,128 243,411 |
Schedule of major components of tax expense income | Income tax breaks down as follows: Year ended Year ended Year ended Income tax Current income tax (16,393 ) (92,089 ) (62,419 ) Deferred income tax (132,011 ) (71,890 ) (39,695 ) Income tax (expense) charged in the statement of profit or loss (148,404 ) (163,979 ) (102,114 ) Deferred income tax charged to other comprehensive income (2,298 ) 1,463 2,048 Total income tax (expense) (150,702 ) (162,516 ) (100,066 ) |
Schedule of reconciliation of income taxes | Below is the reconciliation between income tax expense and the amount resulting from the application of the tax rate to profit income tax: Year ended Year ended Year ended Profit before income tax 545,359 433,514 152,764 Effective income tax rate 30 % 30 % 30 % Income tax at the effective tax rate pursuant to effective tax regulations (163,608 ) (130,054 ) (45,829 ) Items that adjust income tax (expense) / benefit: Nondeductible expenses (13,328 ) (18,735 ) (6,600 ) Inflation adjustment (146,077 ) (153,517 ) (98,348 ) Effect on the measurement of monetary and nonmonetary items at functional currency 196,841 169,058 86,724 Unrecognized tax losses and other assets (7,156 ) (15,568 ) (4,047 ) Effect of tax losses (1) — — 31,232 Effect related to statutory income tax rate change (2) — — (67,312 ) Difference in income tax estimate prior year 1,695 6,358 — Application of tax credits 16,077 6,229 9,710 Effect related to the difference in tax rate other than Mexican statutory rate (34,317 ) (25,762 ) (7,637 ) Other 1,469 (1,988 ) (7 ) Total income tax (expense) (148,404 ) (163,979 ) (102,114 ) (1) For the year ended December 31, 2021, (2) For the year ended December 31, 2021, mainly include effects in Note 30.1. |
Summary of tax losses carryforwards | Below are the updated accumulated tax losses not recognized and their due dates: As of December 31, As of December 31, As of December 31, 2027 6,185 5,166 4,499 2028 72,643 60,727 51,618 2029 32,126 27,113 13,781 As from 2030 83,735 36,203 7,903 Total accumulated tax losses not recognized 194,689 129,209 77,801 |
Schedule of breakdown of income tax liability | Income tax liabilities break down as follows: As of December 31, As of December 31, Current Income tax, net of withholdings and prepayments 3 58,770 Total current 3 58,770 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Tabular disclosure of trade and other receivables | As of December 31, As of December 31, Noncurrent Other receivables: Prepayments, tax receivables and other: Receivables related to the transfer of conventional assets (1) 70,526 — Midstream prepaid expenses (2) 34,660 — Prepaid expenses and other receivables (3) 27,414 13,630 Value added tax (“VAT”) 462 940 Turnover tax 5 493 133,067 15,063 As of December 31, As of December 31, Financial assets: Receivables from joint operations 2,936 — Loans to employees 348 801 3,284 801 Total noncurrent trade and other receivables 136,351 15,864 Current Trade: Oil and gas accounts receivable (net of allowance for expected credit losses) 59,787 38,978 59,787 38,978 Other receivables: Prepayments, tax credits and other: Receivables related to the transfer of conventional assets (1) 86,043 — VAT 19,713 22,939 Income tax 13,409 2,921 Prepaid expenses and other receivables 9,381 13,864 Turnover tax 385 634 128,931 40,358 Financial assets: Accounts receivable from third parties 7,804 2,172 Receivables from joint operations 6,581 3,854 Gas IV Plan (Note 2.5.3.1) 1,245 3,772 Advances to directors and loans to employees 557 444 Other 197 828 16,384 11,070 Other receivables 145,315 51,428 Total current trade and other receivables 205,102 90,406 (1) Related to the accounts receivable recognized as a result of the Transaction mentioned in Note 1.2.1. (2) Related to the Duplicar Plus Project implemented by Oleoductos del Valle S.A. (“Oldelval”) (Note 28.1 and 33) (3) As of December 31, 2023, includes 14,292 related to prepayment of leases. |
Reconciliation of changes in allowance account for credit losses | The changes in the allowance for expected credit losses of trade and other receivables are as follows: As of December 31, As of December 31, Amounts at beginning of year (231 ) (406 ) Allowances for expected credit losses (Note 7) — 36 Foreign exchange differences 179 139 Amounts at end of year (52 ) (231 ) |
Financial assets and liabilit_2
Financial assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Statement of financial position [abstract] | |
Summary of classification of borrowings | As of December 31, As of December 31, Noncurrent Borrowings 554,832 477,601 Total noncurrent 554,832 477,601 Current Borrowings 61,223 71,731 Total current 61,223 71,731 Total Borrowings 616,055 549,332 |
Summary of maturities of borrowings (excluding lease liabilities) and exposure to interest rates | Below are the maturity dates of Company borrowings (excluding lease liabilities) and their exposure to interest rates: As of December 31, As of December 31, Fixed interest Less than 1 year 60,373 48,588 From 1 to 2 years 81,900 154,895 From 2 to 5 years 392,550 232,279 Over 5 years 55,382 65,427 Total 590,205 501,189 Variable interest Less than 1 year 850 23,143 From 1 to 2 years — — From 2 to 5 years 25,000 25,000 Over 5 years — — Total 25,850 48,143 Total Borrowings 616,055 549,332 |
Summary of detailed information about borrowings | The carrying amount of borrowings as of December 31, 2023 and 2022 of the Company through its subsidiary Vista Argentina, is as follows: Company Execution date Currency Principal Interest Annual rate Maturity date As of December 31, As of December 31, Banco Galicia, Banco Itaú Unibanco, Banco Santander Rio and Citibank NA (1) July, 2018 USD 150,000 Variable LIBO + 4.50 % July, 2023 — 69,121 150,000 Fixed 8.00 % Santander International January, 2021 USD 11,700 Fixed 1.80 % January, 2026 68 (2) (4) 68 (2) Santander International July, 2021 USD 43,500 Fixed 2.05 % July, 2026 79 (2) (4) 79 (2) Santander International January, 2022 USD 13,500 Fixed 2.45 % January, 2027 28 (2) (4) 28 (2) ConocoPhillips Company January, 2022 USD 25,000 Variable SOF + 2.01 (3) % September, 2026 25,850 (4) 25,594 Total 26,025 94,890 Instrument Execution date Currency Principal Interest Annual Maturity date As of December 31, As of December 31, ON III February, 2020 USD 50,000 Fixed 3.50 % February, 2024 — (1) 9,607 ON VI December, 2020 USD-linked (2) 10,000 Fixed 3.24 % December, 2024 9,997 (5) 9,968 ON VII March, 2021 USD 42,371 (3) Fixed 4.25 % March, 2024 — 42,200 ON VIII March, 2021 ARS 3,054,537 (4) Fixed 2.73 % September, 2024 — (1) 45,185 ON X June, 2021 ARS 3,104,063 (4) Fixed 4.00 % March, 2025 — (1) 40,765 ON XI August, 2021 USD-linked (2) 9,230 Fixed 3.48 % August, 2025 9,231 (5) 9,214 ON XII August, 2021 USD-linked (2) 100,769 Fixed 5.85 % August, 2031 102,556 (5) 102,504 ON XIII June, 2022 USD 43,500 Fixed 6.00 % August, 2024 43,458 43,211 ON XIV November, 2022 USD 40,511 Fixed 6.25 % November, 2025 36,484 36,408 ON XV December, 2022 USD 13,500 Fixed 4.00 % January, 2025 13,476 (5) 13,413 Instrument Execution date Currency Principal Interest Annual Maturity date As of December 31, As of December 31, ON XVI December, 2022 USD-linked (2) 63,450 Fixed 0.00 % June, 2026 63,231 63,079 May, 2023 USD-linked (2) 40,785 (3) Fixed 0.00 % June, 2026 40,525 — ON XVII December, 2022 USD-linked (2) 39,118 Fixed 0.00 % December, 2026 38,948 38,888 ON XVIII March, 2023 USD-linked (2) 118,542 Fixed 0.00 % March, 2027 117,979 — ON XIX March, 2023 USD-linked (2) 16,458 Fixed 1.00 % March, 2028 16,396 (5) — ON XX June, 2023 USD 13,500 Fixed 4.50 % July, 2025 13,357 (5) — ON XXI August, 2023 USD-linked (2) 70,000 Fixed 0.99 % August, 2028 69,749 (5) — ON XXII December, 2023 USD 14,669 Fixed 5.00 % June, 2026 14,643 — Total ON 590,030 454,442 Total Borrowings 616,055 549,332 |
Summary of reconciliation of liabilities arising from financing activities | Changes in the borrowings were as follows: As of December 31, As of December 31, Amounts at beginning of year 549,332 610,973 Proceeds from borrowings (1) 358,954 228,614 Borrowings interest (2) 21,879 28,886 Payment of borrowing cost (1,779 ) (1,670 ) Payment of interest (22,993 ) (34,430 ) Payment of principal (1) (252,284 ) (294,917 ) Amortized cost (2) 1,810 2,365 Remeasurement in borrowings (2) (3) 72,044 52,817 Changes in foreign exchange rate (2) (3) (111,727 ) (45,821 ) Other financial expense (2) 819 2,515 Amounts at end of year 616,055 549,332 (1) As of December 31, 2023, borrowings received, and principal payments include 40,785 related to the ON swapping mentioned in Note 18.1. These transactions did not generate cash flows. As of December 31. 2022, borrowings received, and principal payments include 99,826 related to the ON swapping mentioned in Note 18.1. These transactions did not generate cash flows. (2) These transactions did not generate cash flows. (3) Related to ON VIII and X, which amounts were in UVA and adjusted by CER. As of December 31, 2023, they were pre- |
Summary of financial instruments by category | The following chart includes the financial instruments broken down by category: As of December 31, 2023 Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Assets Plan assets (Note 23) — 5,438 5,438 Trade and other receivables (Note 17) 3,284 — 3,284 Total noncurrent financial assets 3,284 5,438 8,722 Cash, bank balances and other short-term investments (Note 20) 35,292 156,163 191,455 Trade and other receivables (Note 17) 76,171 — 76,171 Total current financial assets 111,463 156,163 267,626 Liabilities Borrowings (Note 18.1) 554,832 — 554,832 Lease liabilities (Note 15) 35,600 — 35,600 Total noncurrent financial liabilities 590,432 — 590,432 Borrowings (Note 18.1) 61,223 — 61,223 Trade and other payables (Note 26) 205,055 — 205,055 Lease liabilities (Note 15) 34,868 — 34,868 Total current financial liabilities 301,146 — 301,146 As of December 31, 2022 Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Assets Plan assets (Note 23) — 5,703 5,703 Trade and other receivables (Note 17) 801 — 801 Total noncurrent financial assets 801 5,703 6,504 Cash, bank balances and other short-term investments (Note 20) 17,606 202,869 220,475 Trade and other receivables (Note 17) 50,048 — 50,048 Total current financial assets 67,654 202,869 270,523 Liabilities Borrowings (Note 18.1) 477,601 — 477,601 Lease liabilities (Note 15) 20,644 — 20,644 Total noncurrent financial liabilities 498,245 — 498,245 Borrowings (Note 18.1) 71,731 — 71,731 Trade and other payables (Note 26) 221,013 — 221,013 Lease liabilities (Note 15) 8,550 — 8,550 Total current financial liabilities 301,294 — 301,294 |
Summary of financial income and expense | Below are income, expenses, profit, or loss from each financial instrument: For the year ended December 31, 2023: Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Interest income (Note 11.1) 1,235 — 1,235 Interest expense (Note 11.2) (21,879 ) — (21,879 ) Amortized cost (Note 11.3) (1,810 ) — (1,810 ) Net changes in foreign exchange rate (Note 11.3) 18,458 — 18,458 Discount of assets and liabilities at present value (Note 11.3) 2,137 — 2,137 Changes in the fair value of financial assets (Note 11.3) — 19,437 19,437 Interest expense on lease liabilities (Note 11.3) (2,894 ) — (2,894 ) Discount for well plugging and abandonment (Note 11.3) (2,387 ) — (2,387 ) Remeasurement in borrowings (Note 11.3) (72,044 ) — (72,044 ) Other (Note 11.3) (26,381 ) — (26,381 ) Total (105,565 ) 19,437 (86,128 ) For the year ended December 31, 2022: Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Interest income (Note 11.1) 809 — 809 Interest expense (Note 11.2) (28,886 ) — (28,886 ) Amortized cost (Note 11.3) (2,365 ) — (2,365 ) Changes in the fair value of warrants (Note 11.3) — (30,350 ) (30,350 ) Net changes in foreign exchange rate (Note 11.3) 33,263 — 33,263 Discount of assets and liabilities at present value (Note 11.3) (2,561 ) — (2,561 ) Changes in the fair value of financial assets (Note 11.3) — (17,599 ) (17,599 ) Interest expense on lease liabilities (Note 11.3) (1,925 ) — (1,925 ) Discount for well plugging and abandonment (Note 11.3) (2,444 ) — (2,444 ) Remeasurement in borrowings (Note 11.3) (52,817 ) — (52,817 ) Other (Note 11.3) 9,242 — 9,242 Total (47,684 ) (47,949 ) (95,633 ) For the year ended December 31, 2021: Financial assets/liabilities at amortized cost Financial assets/liabilities at fair value Total financial assets/liabilities Interest income (Note 11.1) 65 — 65 Interest expense (Note 11.2) (50,660 ) — (50,660 ) Amortized cost (Note 11.3) (4,164 ) — (4,164 ) Changes in the fair value of warrants (Note 11.3) — (2,182 ) (2,182 ) Net changes in foreign exchange rate (Note 11.3) 14,328 14,328 Discount of assets and liabilities at present value (Note 11.3) (2,300 ) (2,300 ) Changes in the fair value of financial assets (Note 11.3) — 5,061 5,061 Interest expense on lease liabilities (Note 11.3) (1,079 ) — (1,079 ) Discount for well plugging and abandonment (Note 11.3) (2,546 ) — (2,546 ) Remeasurement in borrowings (Note 11.3) (19,163 ) — (19,163 ) Other (Note 11.3) 4,851 — 4,851 Total (60,668 ) 2,879 (57,789 ) |
Summary of financial assets measured at fair value | The following chart shows the Company’s financial assets measured at fair value as of December 31, 2023 and 2022: As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Financial assets at fair value through profit or loss Plan assets 5,438 — — 5,438 Short-term investments 156,163 — — 156,163 Total assets 161,601 — — 161,601 As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Financial assets at fair value through profit or loss Plan assets 5,703 — — 5,703 Short-term investments 202,869 — — 202,869 Total assets 208,572 — 208,572 |
Reconciliation of level 3 fair value measurements | Reconciliation of level 3 measurements at fair value: As of December 31, As of December 31, Amounts at beginning of year 2,544 362 Changes in the fair value of warrants (Note 11.3) 30,350 2,182 Other equity instruments (Note 18.3) (32,894 ) — Amounts at end of year — 2,544 |
Summary of fair value of liabilities | As of December 31, 2023 Carrying Fair value Level Liabilities Borrowings 616,055 516,699 2 Total liabilities 616,055 516,699 As of December 31, 2022 Carrying Fair value Level Liabilities Borrowings 549,332 459,122 2 Total liabilities 549,332 459,122 |
Summary of effect of change in foreign exchange rates | As of December 31, 2023 As of December 31, 2022 Changes in government bonds +/- 10% +/- 10% Effect on profit before income tax 374 / (374) 243 / (243) Changes in mutual funds +/- 10% +/- 10% Effect on profit before income tax 15,243 / (15,243) 20,044 / (20,044) |
Summary of sensitivity analysis for types of market risk | The following chart shows the sensitivity to a modification in the exchange rate of ARS to USD while maintaining the remainder variables constant. Impact on profit before taxes is related to changes in the fair value of monetary assets and liabilities denominated in currencies other than the USD, the Company’s functional currency. The Company’s exposure to changes in foreign exchange rates for the remainder currencies is immaterial. As of December 31, 2023 As of December 31, 2022 Changes in exchange rate +/- 10% +/- 10% Effect on profit before income taxes 658 / (658) 22,938 / (22,938) Effect on equity before income taxes 658 / (658) 22,938 / (22,938) |
Summary of detailed information about concentration of risk that arises from contracts within scope of IFRS 17 | As of December 31, 2023 As of December 31, 2022 Percentages to total trade receivables: Customers Raizen Argentina S.A. 41 % 32 % PEMEX 21 % 18 % ENAP Refinerías S.A. 18 % - % Trafigura 7 % 19 % Cinergia Chile S.p.a 1 % 10 % For the year ended December 31, 2023 For the year ended December 31, 2022 Percentages to revenue from contracts with customers per product: Crude oil Raizen Argentina S.A. 24 % 20 % Trafigura 16 % 26 % Trafigura Pte LTD 16 % 21 % Valero Marketing and Supply Company 10 % 8 % Repsol Trading USA Corp. 10 % - % Natural gas Cinergia Chile S.p.a 30 % 22 % CAMMESA 8 % 7 % Rafael G. Albanesi S.A. 6 % 8 % Generación Mediterránea S.A. - % 9 % |
Summary of credit risk exposure | As of December 31, 2023 To fall due Less than 90 days More than 90 days Total Gross amount at default of oil and gas accounts receivable 57,873 1,914 52 59,839 Expected credit losses — — (52 ) (52 ) Net amount at default of oil and gas accounts receivable 59,787 As of December 31, 2022 To fall due Less than 90 days More than 90 days Total Gross amount at default of oil and gas accounts receivable Expected credit losses 32,921 6,057 231 39,209 Net amount at default of oil and gas accounts receivable — — (231 ) (231 ) 38,978 |
Summary of managing liquidity risk | Below is the assessment of the Company’s liquidity risk as of December 31, 2023, and 2022: As of December 31, 2023 As of December 31, 2022 Current assets 425,904 347,690 Current liabilities 359,386 408,344 Liquidity index 1.185 0.852 |
Summary of contractual undiscounted cash flows of financial liabilities | The amounts included in the table are no discounted contractual cash flows. As of December 31, 2023 Financial liabilities except borrowings Borrowings Total To fall due: Less than 1 year 239,923 61,223 301,146 From 1 to 2 years 11,898 81,900 93,798 From 2 to 5 years 16,120 417,550 433,670 Over 5 years 7,582 55,382 62,964 Total 275,523 616,055 891,578 As of December 31, 2022 Financial liabilities except borrowings Borrowings Total To fall due: Less than 1 year 229,563 71,731 301,294 From 1 to 2 years 5,147 154,895 160,042 From 2 to 5 years 9,998 257,279 267,277 Over 5 years 5,499 65,427 70,926 Total 250,207 549,332 799,539 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Disclosure Of Detailed Information About Inventory | As of December 31, 2023 As of December 31, 2022 Materials and spare parts 4,651 8,177 Crude oil stock (Note 6.2) 2,664 4,722 Assigned crude oil stock 234 — Total inventories 7,549 12,899 |
Cash, bank balances and other_2
Cash, bank balances and other short-term investments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Disclosure of Cash and Cash Equivalents | As of December 31, 2023 As of December 31, 2022 Mutual funds 152,426 202,165 Money market funds 35,292 15,881 Cash in banks 21,798 23,910 Government bonds 3,737 2,429 Total cash, bank balances and other short-term investments 213,253 244,385 Cash and cash equivalents include cash on hand and at bank and investments maturing within 3 (three) months. For the consolidated statement of cash flows purposes below is the reconciliation between cash, bank and short-term investments and cash and cash equivalents: As of December 31, 2023 As of December 31, 2022 Cash, bank balances and other short-term investments 213,253 244,385 Less Government bonds (3,737 ) (2,429 ) Cash and cash equivalents 209,516 241,956 |
Capital stock and capital ris_2
Capital stock and capital risk management (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of detailed information about changes in equity | The following chart shows a reconciliation of the movements in the Company’s capital stock for the years ended December 31, 2023, 2022 and 2021: Series A Series C Total Amounts as of December 31, 2020 659,400 — 659,400 Number of shares 87,851,286 2 87,851,288 Reduction of capital stock (72,695 ) — (72,695 ) Number of shares — — — Series A shares to be granted in LTIP 1 — 1 Number of shares 778,591 — 778,591 Amounts as of December 31, 2021 586,706 — 586,706 Number of shares 88,629,877 2 88,629,879 Reduction of capital stock (39,530 ) — (39,530 ) Number of shares — — — Cashless exercises of warrant — — — Number of shares 2,038,643 — 2,038,643 Share repurchase (29,304 ) — (29,304 ) Number of shares repurchased (3,234,163 ) — (3,234,163 ) Series A shares to be granted in LTIP 1 — 1 Number of shares 972,121 — 972,121 Amounts as of December 31, 2022 517,873 — 517,873 Number of shares 88,406,478 2 88,406,480 Cashless exercises of warrants — — — Number of shares 1,176,811 — 1,176,811 Series A shares to be granted in LTIP 1 — 1 Number of shares 5,772,141 — 5,772,141 Amounts as of December 31, 2023 517,874 — 517,874 Number of shares 95,355,430 2 95,355,432 |
Summary of leverage ratios | The leverage ratio as of December 31, 2023, and 2022, is as follows: As of December 31, 2023 As of December 31, 2022 Total borrowings and lease liabilities 686,523 578,526 Less: Cash, bank balances and other short-term investments (213,253 ) (244,385 ) Net debt 473,270 334,141 Total equity 1,247,015 844,060 Leverage ratio 37.95 % 40.00 % |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of classification of provisions | As of December 31, 2023 As of December 31, 2022 Noncurrent Well plugging and abandonment 12,191 31,389 Environmental remediation 148 279 Total noncurrent provisions 12,339 31,668 As of December 31, 2023 As of December 31, 2022 Current Well plugging and abandonment 3,096 1,135 Environmental remediation 936 1,542 Contingencies 101 171 Total current provisions 4,133 2,848 |
Summary of movements in provision | Below are the changes in the provision for well plugging and abandonment for the year: As of December 31, 2023 As of December 31, 2022 Amounts at beginning of year 32,524 30,796 Discount for well plugging and abandonment (Note 11.3) 2,387 2,444 (Decrease) in the change in capitalized estimates (Note 13) (930 ) (713 ) (Decrease) in the change in estimates of conventional assets (1) (18,697 ) — Foreign exchange differences 3 (3 ) Amounts at end of year 15,287 32,524 (1) According to Note 1.2.1, the Company carries a receiv a b w h Below are the changes in the provision for environmental remediation for the year: As of December 31, 2023 As of December 31, 2022 Amounts at beginning of year 1,821 1,599 Increases (Note 10.2) 485 2,133 Increase in the change in estimates of conventional assets (1) 624 — Foreign exchange differences (1,846 ) (1,911 ) Amounts at end of year 1,084 1,821 (1) According to Note 1.2.1, the Company carries a receiv abl e with Below are the changes in the provision for contingencies for the year: As of December 31, 2023 As of December 31, 2022 Amounts at beginning of year 171 142 Increases (Note 10.2) 69 379 Amounts incurred for payments (46 ) (307 ) Foreign exchange differences (93 ) (43 ) Amounts at end of year 101 171 |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of employee benefit costs | The following charts summarize the components of net expenses and the obligation recognized in the consolidated financial statements: Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Cost of services (25 ) (44 ) (28 ) Cost of interest (639 ) (458 ) (219 ) Settlement 364 — — Total (300 ) (502 ) (247 ) |
Summary of obligations for defined benefit plans | As of December 31, 2023 Present value of the obligation Fair value of asset’s plan Net liabilities Amounts at beginning of year (19,009 ) 6,758 (12,251 ) Items classified as loss or profit Cost of services (25 ) — (25 ) Cost of interest (909 ) 270 (639 ) Settlement 364 — 364 Items classified in other comprehensive income Actuarial remeasurement gain 6,213 352 6,565 Benefit payments 777 (777 ) — Payment of contributions 1,294 (1,011 ) 283 Amounts at end of year (11,295 ) 5,592 (5,703 ) As of December 31, 2022 Present value of the obligation Fair value of asset’s plan Net liabilities Amounts at beginning of year (15,416 ) 7,594 (7,822 ) Items classified as loss or profit Cost of services (44 ) — (44 ) Cost of interest (806 ) 348 (458 ) Items classified in other comprehensive income Actuarial remeasurement (losses) (3,911 ) (270 ) (4,181 ) Benefit payments 1,168 (1,168 ) — Payment of contributions — 254 254 Amounts at end of year (19,009 ) 6,758 (12,251 ) |
Summary of fair value of plan assets | The fair value of asset’s plan as of every year end per category, is as follows: As of December 31, 2023 As of December 31, 2022 US government bonds 5,438 5,703 Cash and cash equivalents 154 1,055 Total 5,592 6,758 |
Summary of estimated expected benefits payments | Below are the estimated payments of benefits expected for the next 10 (ten) years. The amounts in the chart show non discounted cash flows; thus, they do not reconcile with the obligations booked as of year-end: As of December 31, 2023 As of December 31, 2022 Less than 1 year 974 1,562 1 to 2 years 974 1,538 2 to 3 years 963 1,542 As of December 31, 2023 As of December 31, 2022 3 to 4 years 946 1,526 4 to 5 years 925 1,506 6 to 10 years 4,242 7,113 |
Summary of significant actuarial assumptions used | Below are the significant actuarial estimates used: As of December 31, 2023 As of December 31, 2022 Discount rate 5% 5% Asset rate of return 5% 5% Salary rise 1% 1% |
Salaries and payroll taxes (Tab
Salaries and payroll taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of salaries and social security payable | As of December 31, 2023 As of December 31, 2022 Current Provision for bonuses and incentives 12,657 17,599 Salaries and social security contributions 4,898 7,521 Total current salaries and payroll taxes 17,555 25,120 |
Other taxes and royalties (Tabl
Other taxes and royalties (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of other taxes and royalties payable | As of December 31, 2023 As of December 31, 2022 Current Royalties and others 33,862 12,642 Tax withholdings 1,603 7,205 Other 1,084 465 Total current other taxes and royalties 36,549 20,312 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of trade and other payables | As of December 31, 2023 As of December 31, 2022 Current Accounts payable: Suppliers 204,696 196,484 Total current accounts payables 204,696 196,484 Other accounts payables: Payables to partners of joint operations 197 23,880 Extraordinary fee for Gas IV Plan 162 488 Payables to third parties (1) — 161 Total other current accounts payables 359 24,529 Total current trade and other payables 205,055 221,013 (1) Related to acquisition of 50% operating working interest in the unconventional concessions of Aguada Federal and Bandurria Norte mentioned in Note 29.2.5. |
Related parties' transactions_2
Related parties' transactions and balances (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Disclosure of key management personnel remuneration | Below are the amounts recognized in the consolidated statements of profit or loss and other comprehensive income related to Company key personnel: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Share-based payment transactions 18,618 13,119 8,875 Short-term benefits 13,959 12,990 11,626 Total compensation paid to key personnel 32,577 26,109 20,501 |
Operations in hydrocarbon con_2
Operations in hydrocarbon consortiums (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Summary Of Joint Operations And Consortia For The Exploration And Production Of Oil And Gas [Line Items] | |
Summary of financial information of joint operation | As of December 31, 2023 As of December 31, 2022 Assets Noncurrent assets 344,411 252,073 Current assets 878 13,702 Liabilities Noncurrent liabilities 1,801 1,256 Current liabilities 11,860 55,106 Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Revenue from contracts with customers — — 3,200 Operating costs (1,687 ) (943 ) (4,406 ) Depreciation, depletion and amortization (78,860 ) (43,139 ) (3,626 ) General and administrative expenses (846 ) (568 ) (1,242 ) Exploration expenses — — (446 ) Other operating income and expenses — 2 (8,076 ) Impairment of long -lived assets (1,679 ) — — Financial results, net 1,561 2,484 (586 ) Total (81,511 ) (42,164 ) (15,182 ) |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Statement [Line Items] | |
Summary of number and weighted average exercise prices (WAEP) of, and movements in, share options | The following table shows the number of stock options granted, cancelled and the weighted average exercise price (“WAEP”) for the year: Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Number of WAEP Number of WAEP Number of WAEP At beginning of year 10,540,228 5.15 9,124,109 4.85 5,668,825 6.07 Granted during the year 513,379 17.83 1,416,119 7.05 3,455,284 2.85 Cancelled during the year (1) (1,188,362 ) 3.68 — — — — At end of year 9,865,245 5.98 10,540,228 5.15 9,124,109 4.85 (1) Related to stock options annulled or cancelled for the year, which do not necessarily coincide with the options exercised. |
Summary of valuation assumptions of stock option plan | The following table shows the inputs used for the plan for the year: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Dividend yield (%) 0.0% 0.0% 0.0% Expected volatility (%) 31.4% 33.5% 34.0% Risk–free interest rate (%) 3.9% 1.9% 1.4% Expected life of share options (years) 10 10 10 Weighted average exercise price (USD) 17.83 7.05 2.85 Model used Black & Scholes Black & Scholes Black & Scholes |
Summary of number and weighted average exercise prices (WAEP) of, and movements in, restricted stock | The following table shows the number of restricted stock granted, cancelled and WAEP for the year: Year ended Year ended Year ended Number of WAEP Number of WAEP Number of WAEP At beginning of year 6,669,790 4.89 5,762,338 4.53 3,769,299 5.41 Granted during the year 519,025 17.83 940,215 7.05 1,993,039 2,85 Cancelled during the year (1) (555,451 ) 2.13 (32,763 ) 2.95 — — At end of year 6,633,364 6.18 6,669,790 4.89 5,762,338 4.53 (1) Related to restricted stock annulled or cancelled for the year, which do not necessarily coincide with the restricted stock vested. |
Performance Restricted Stock [Member] | |
Statement [Line Items] | |
Summary of number and weighted average exercise prices (WAEP) of, and movements in, restricted stock | The following table shows the number of performance restricted stock granted and WAEP for the year: Year ended December 31, 2023 Year ended December 31, 2022 Number of Series A shares WAEP Number of Series A shares WAEP At beginning of year 3,705,757 7.05 — — Granted during the year 1,417,589 17.83 3,705,757 7.05 At end of year 5,123,346 10.03 3,705,757 7.05 |
Supplementary information on _2
Supplementary information on oil and gas activities (unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of costs capitalized as well as expensed that were incurred | The following table shows capitalized costs and expenses incurred in the years ended December 31, 2023, 2022 and 2021. The acquisition of properties includes the costs incurred to acquire proved or unproved oil and gas properties. Exploration costs include the costs required to retain undeveloped properties, seismic acquisition costs, seismic data interpretation, geologic modelling, costs of drilling exploration wells and drilled well testing. Development costs include drilling costs and equipment for development wells, the construction of facilities for hydrocarbon extraction, transport, treatment and storage, and all the costs needed to maintain facilities for existing developed reserves. Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Argentina Mexico Argentina Mexico Argentina Mexico Acquisition of properties Proved — — (68,743 ) — — — Unproved — — — — (69,693 ) — Total acquisition of properties — — (68,743 ) — (69,693 ) — Exploration — (624 ) — (561 ) Development (1) (615,481 ) (17,283 ) (426,991 ) (4,368 ) (280,686 ) (13,475 ) Total costs incurred (615,481 ) (17,283 ) (495,734 ) (4,992 ) (350,379 ) (14,036 ) (1) Including the re-estimation |
Summary of capitalized costs | The following table shows capitalized costs during the years ended December 31, 2023, 2022, and 2021, for proved and unproved crude oil and natural gas reserves, and accumulated depreciation: Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Argentina Mexico Argentina Mexico Argentina Mexico Proved properties (1) Machinery, facilities, software licenses and other 79,566 928 71,839 723 37,519 476 Oil & gas properties and wells (2) 2,521,781 36,146 2,108,966 40,381 1,614,708 34,698 Works in progress 121,808 1,207 148,964 4,984 84,978 6,267 Gross capitalized costs 2,723,155 38,281 2,329,769 46,088 1,737,205 41,441 Cumulative depreciation (842,024 ) (4,006 ) (773,424 ) (2,972 ) (549,885 ) (281 ) Total net capitalized costs 1,881,131 34,275 1,556,345 43,116 1,187,320 41,160 (1) It includes the re-estimation (2) As of December 31, 202 3 |
Summary of results of operations | The following breakdown of results of operations summarizes income and expenses directly related to Crude oil and Natural gas production for the years ended December 31, 2023, 2022 and 2021. Income tax for these periods was calculated using statutory tax rates. Year ended December 31, 2023 Year ended December 31, 2022 Year ended December 31, 2021 Revenue from contracts with customers 1,168,774 1,187,660 665,310 Total revenue 1,168,774 1,187,660 665,310 Production costs excluding depreciation Operating and other costs (96,743 ) (133,885 ) (108,028 ) Royalties and others (176,813 ) (188,677 ) (99,364 ) Other non-cash (27,539 ) — — Total production costs (301,095 ) (322,562 ) (207,392 ) Depreciation, depletion and amortization (276,430 ) (234,862 ) (191,313 ) Exploration expenses — (624 ) (561 ) Discount for well plugging and abandonment liabilities (2,387 ) (2,444 ) (2,546 ) Impairment of long-lived assets (24,585 ) — 14,044 Operating profit (loss) before income tax 564,277 627,168 277,542 Income tax (169,283 ) (188,150 ) (83,263 ) Crude oil & natural gas operating profit (loss) 394,994 439,018 194,279 |
Summary of estimated oil and natural gas proved reserves and technical volumes | The following tables show proved oil reserves, net (including crude oil, condensate oil and LPG) and natural gas reserves, net, as of December 31, 2023, 2022, 2021 and 2020 according to VISTA’s interest percentage in the related concessions: Proved reserves as of December 31, 2023 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 71.0 85.5 15.2 Proved undeveloped 191.3 173.3 30.9 Total proved reserves 262.3 258.8 46.1 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 1.8 4.5 0.8 Proved undeveloped 5.5 11.4 2.0 Total proved reserves 7.3 15.9 2.8 Proved reserves as of December 31, 2022 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 68.3 99.2 17.7 Proved undeveloped 136.8 139.7 24.8 Total proved reserves 205.1 238.9 42.5 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 0.2 0.1 0.0 Proved undeveloped 2.7 5.9 1.1 Total proved reserves 2.9 6.0 1.1 Proved reserves as of December 31, 2021 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 48.2 90.8 16.2 Proved undeveloped 95.1 99.4 17.7 Total proved reserves 143.3 190.2 33.9 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 0.3 0.2 0.0 Proved undeveloped 3.0 6.0 1.1 Total proved reserves 3.3 6.2 1.1 Proved reserves as of December 31, 2020 Argentina Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 37.6 86.1 15.3 Proved undeveloped 61.8 73.9 13.1 Total proved reserves 99.4 160.0 28.4 Mexico Crude oil (1) Natural gas Natural gas Categories of reserves (MMBbl) (Bcf) (MMBbl Proved developed 0.2 0.7 0.1 Proved undeveloped 0.0 0.0 0.0 Total proved reserves 0.2 0.7 0.1 (1) It refers to crude oil, condensate, and LNG. |
Summary of reconciliation of the company's reserves | The following table shows the reconciliation of the Company’s reserve data between December 31, 2022, and December 31, 2023: Argentina Crude oil (1) Natural gas (6) Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2022 205.1 238.9 42.5 Increase (decrease) attributable to: Review of prior estimates (2) (8.2 ) (27.8 ) (4.9 ) Extensions and discoveries (3) 86.5 65.5 11.7 Purchases/sales of onsite proved reserves (4) (5.4 ) (2.6 ) (0.5 ) Production for the year (5) (15.7 ) (15.1 ) (2.7 ) Reserves as of December 31, 2023 (7) 262.3 258.8 46.1 (1) It refers to Crude oil, condensate, and LPG. (2) The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (- 8.2 (a) in connection with the developed reserve: (i) results of well tests for Aguada Federal (-0.54 (-0.71 (-0.43 (-1.26 (-0.31 (-0.88 (-0.06 (-0.4 (b) in connection with the undeveloped reserve: (i) They are related to an (-5.82 The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (-27.8 (a) in connection with the developed reserve: (i) they are associated with the lower performance and adjustment of the gas/oil ratio (“GOR”) in the wells of Aguada Federal (-4.3 (-2.62 (-4.51 (-3.61 (-3.28 (-1.44 (-0.41 (-1.75 (b) in connection with the undeveloped reserve: (i) they are related to an adjustment in Aguada Federal due to the latest well results (-6.58 Bcf); (ii) the potential combined effect of other fields and rounding (+0.70 Bcf), which includes the revision of reserves associated with the extension of the economic life of proved developed reserves in conventional Bajada del Palo Oeste, Bajada del Oeste, Bajada del Oeste (Farmout Agreement I), and Bajada del Oeste (Farmout Agreement II). (3) c n (a) in connection with the developed reserve: (i) the drilling success in Vaca Muerta formation of Bajada del Oeste with a pad (3 wells) adding (+3.18 MMbbl and +3.19 Bcf); (ii) a pad (4 wells) in Bajada del Palo Oeste (Farmout Agreement II), incorporating (+2.7 MMbbl and +2.45 Bcf); (iii) a pad (4 wells) in Aguada Federal adding (+1.16 MMbbl and +1.44 Bcf), another pad (2 wells) in Águila Mora, adding (+1.51 MMbbl and +1.15 Bcf); and (iv) two wells in Bajada del Palo Este totaling (+3.10 MMbbl and +0.8 Bcf). Also, there is a neutral effect from the conversion of proved undeveloped reserves to proved developed reserves generated by: (i) the drilling success in Vaca Muerta formation of 2 pads (8 wells) in Bajada del Palo Oeste adding (+7.84 MMbbl and +7.90 Bcf); (ii) the addition of 2 pads (8 wells) in Bajada del Palo Oeste (Farmout Agreement II), incorporating (+6.94 MMbbl and +6.99 Bcf); as well as (iii) the drilling in a well in Entre Lomas Río Negro adding (+0.22 MMbbl and +2.06 Bcf). (b) in connection with the undeveloped reserve enable by the activity of drilling in Vaca Muerta formation of: (i) 4 pads (15 wells) in Aguada Federal adding (+9.09 MMbbl and +9.09 Bcf), 11 pads (24 wells) in Bajada del Palo Este totaling (+28.91 MMbbl and +12.05 Bcf), 9 pads (33 wells) in Bajada del Palo Oeste, totaling (+36.85 MMbbl and +35.33 Bcf). (4) The changes in the purchase of crude oil (-5.4 (-2.6 (5) Considering Vista Argentina’s output. (6) Natural gas internal consumption stood at 15.6% as of December 31, 2023. (7) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. Mexico Crude oil (1) Natural gas Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2022 2.9 6.0 1.1 Increase (decrease) attributable to: Review of prior estimates (2) 4.6 10.0 1.7 Production for the year (3) (0.2 ) (0.1 ) (0.0 ) Reserves as of December 31, 2023 (4) 7.3 15.9 2.8 (1) It refers to Crude oil, condensate, and LPG. (2) The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (+4.6 MMbbl) are mainly related to: (a) in connection with the developed reserve: (i) due to the extension of (+ 0.2 (- 0.1 (b) in connection with the undeveloped reserve: (i) (+0.5 MMbbl) due to the latest drilling and discovery campaigns in Amate and Encajonado formations; (ii) an increase of (+3.1 MMbbl) because cash-paid royalties for reserves and production volumes are not discounted; and (iii) an increase due to the extension of acreage from the drilling campaign in the same blocks with Vernet-1053 and 1054 wells, resulting in an increase of (+0.9 MMbbl). The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (10.0 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) The lower performance and price decrease (-0.4 (b) in connection with the undeveloped reserve: (i) an increase of (+6.4 Bcf) because cash-paid royalties for reserves and production volumes are not discounted; and (ii) an increase due to the extension of acreage from the drilling campaign in the same blocks with Vernet-1053 and 1054 wells, resulting in an increase of (+0.7 Bcf). In addition, there is a neutral effect from the conversion of proved undeveloped reserves to proved developed reserves generated by: (i) the successful drilling campaign of Vernet-1001, 1002, 1004, 1005, and 1006 (+1.65 MMbbl and +1.67 Bcf). (3) Considering Vista Holding II’s output. (4) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. The following table shows the reconciliation of the Company’s reserve data between December 31, 2021, and December 31, 2022: Crude oil (1) Natural gas (6) Natural gas Argentina (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2021 143.3 190.2 33.9 Increase (decrease) attributable to: Review of prior estimates (2) 9.1 0.9 0.2 Extensions and discoveries (3) 65.4 62.0 11.0 Purchases of onsite proved reserves (4) 2.0 2.0 0.4 Production for the year (5) (14.6 ) (16.3 ) (2.9 ) Reserves as of December 31, 2022 (7) 205.1 238.9 42.5 (1) It refers to Crude oil, condensate, and LPG. (2) The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (+9.1MMbbl) are mainly related to: (a) in connection with the developed reserve: (i) the enhanced performance of the 32 (thirty two) production wells targeting Vaca Muerta unconventional in Bajada del Palo Oeste concession (+4.78 MMbbl); (ii) the 28 (twenty eight) wells drilled in 2022 targeting Vaca Muerta unconventional reservoir in Bajada del Palo Oeste concession, which comprises the farmout I agreement mentioned in Note 29.2.1. (+2.54 MMbbl); (iii) a combined negative effect from other plots of land (-0.62 (b) in connection with the undeveloped reserve: (i) the unconventional Bajada del Palo Oeste concession were revised up, due to a lateral length adjustment, which had no effect on the type well (+0.87 MMbbl); (ii) the Entre Lomas Rio Negro concession were also revised up due to the addition of a well in Charco Bayo oilfield targeting Tordillo and Punta Rosada formations (+0.31 MMbbl); (iii) an upward revision was also made in the development plan of Jagüel de los Machos block due to the addition of 2 (two) wells and 2 (two) workovers (+0.12 MMbbl); (iv) minor changes in the activity of 25 de Mayo-Medanito block (+0.05 MMbbl); (v) in Bajada del Palo Oeste concession, a downward revision was made related to the removal of two wells targeting Lotena conventional formation (-0.28 The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (+0.9 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) the enhanced performance GOR adjustment based on the latest trial results of the 32 (thirty two) unconventional production wells in Bajada del Palo Oeste concession (+4.83 Bcf); (ii) reduced performance of conventional wells in Bajada del Palo Oeste concession (-2.52 (-4.81 (-0.38 (b) in connection with the undeveloped reserve: (i) the unconventional Bajada del Palo Oeste concession were revised up, due to a lateral length adjustment, which had no effect on the type well (+1.00 Bcf); (ii) the Elo Río Negro concession were also revised up due to the addition of a well in Charco Bayo oilfield targeting Tordillo and Punta Rosada formations (+1.34 Bcf); (iii) an upward revision was also made in the development plan of Jagüel de los Machos block due to the addition of 2 (two) wells and 2 (two) workovers (+0.13 Bcf); (iv) minor changes in the activity of 25 de Mayo-Medanito block (+0.02 Bcf); (v) in Bajada del Palo Oeste concession, a downward revision was made related to the removal of two wells targeting Lotena conventional formation (-2.21 (3) The changes in the proved developed and undeveloped reserves due to the extension and discovery of Crude oil (+65.4 MMbbl) and Natural gas (+62.0 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) the drilling of 16 (sixteen) wells (4 pads) targeting Vaca Muerta formation in Bajada del Palo Oeste concession (+13.44 MMbbl, and +12.30 Bcf): (ii) the drilling of 12 (twelve) wells targeting Vaca Muerta formation in Aguada Federal concession (+7.73 MMbbl, and +8.36 Bcf); (iii) the drilling of 2 (two) wells (1 pad) in Bajada del Palo Este targeting Vaca Muerta (+2.75 MMbbl, and +0.89 Bcf). (b) in connection with the undeveloped reserve: (i) the drilling of 13 (thirteen) wells (4 pads) targeting Vaca Muerta formation in Bajada del Palo Oeste concession (+14.08 MMbbl, +13.91 Bcf); (ii) the drilling of 2 (two) wells (1 pad) in Bajada del Palo Este (+2.71 MMbbl, and +1.39 Bcf); and (iii) the drilling of 28 (twenty-eight) wells (13 pads) in Aguada Federal (+24.69 MMbbl, and +25.15 Bcf). (4) The changes in the purchase of Crude oil (+2.00 MMbbl) and Natural gas (+2.00 Bcf) reserves are mainly related to the farmout II agreement signed with Trafigura mentioned in Note 29.2.1.2. As of December 31, 2021, 4 (four) wells were proved undeveloped and the 4 (four) wells were unproved. As of December 31, 2022, the 8 (eight) wells are undeveloped proved. (5) Considering Vista Argentina’s output. (6) Natural gas internal consumption stood at 11.1% as of December 31, 2022. (7) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. Mexico Crude oil (1) Natural gas Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2021 3.3 6.2 1.1 Increase (decrease) attributable to: Review of prior estimates (2) (0.3 ) (0.1 ) (0.0 ) Production for the year (3) (0.2 ) (0.1 ) (0.0 ) Reserves as of December 31, 2022 (4) 2.9 6.0 1.1 (1) It refers to Crude oil, condensate, and LNG. (2) The revisions of proved developed Crude oil and condensate and Natural gas reserves are related to an enhanced performance of wells (0.05 MMbbl) and the latest GOR trends (-0.04 (-0.34 -0.02 (3) Considering Vista Holding II’s output. (4) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. The following table shows the reconciliation of the Company’s reserves data between December 31, 2020 and December 31,2021: Crude oil (1) Natural gas (6) Natural gas Argentina (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2020 99.4 160.0 28.4 Increase (decrease) attributable to: Review of prior estimates (2) 3.8 (5.4 ) (0.9 ) Extensions and discoveries (3) 53.5 53.7 9.6 Purchases of onsite proved reserves (4) (2.2 ) (1.9 ) (0.3 ) Production for the year (5) (11.2 ) (16.2 ) (2.9 ) Reserves as of December 31, 2021 (7) 143.3 190.2 33.9 (1) It refers to Crude oil, condensate, and LNG. (2) The changes due to revisions of prior estimates of total proved Crude oil reserves (+3.8 MMbbl) are mainly related to: (i) an extension of the economic cap applicable to the different concessions (+3.3 MMbbl) due to increased prices of liquid hydrocarbon (from USD 41.97 per barrel to USD 54.99 per barrel of condensate and C5+, and from USD 19.16 per barrel to USD 26.87 per barrel of LPG); (ii) an enhanced performance of Bajada del Palo Oeste unconventional wells (+2.6 MMbbl); partly offset by: (iii) a lower performance of the base production of Bajada del Palo Oeste (-0.6 (-0.6 (-0.5 (-0.4 The changes due to revisions of prior estimates of proved Natural gas reserves (-5.4 (-4.9 (-4.0 (-2.3 (-1.8 (-1.1 (3) The changes in total proved reserves due to the extension and discovery of Crude oil (+53.5 MMbbl) and Natural gas (+53.7 Bcf) are mainly related to: (i) the extension of proved undeveloped acreage thanks to the addition of 11 (eleven) pads (44 wells) classified as proved undeveloped due to the successful drilling in Vaca Muerta unconventional formation in Bajada del Palo Oeste concession (+46.2 MMbbl, +46.5 Bcf); and (ii) the extension of proved developed acreage related to the drilling of 2 (two) unproved pads (8 (eight) wells (related to PAD 35 and PAD 44) in Vaca Muerta unconventional formation in Bajada del Palo Oeste concession under the farmout agreement I with Trafigura (+7.3 MMbbl, +7.2 Bcf). (4) The changes due to purchases/sales of Crude oil (-2.2 (-1.9 (-1.4 -1.0 (-0.9 -0.9 (5) Considering Vista Argentina’s output. (6) Natural gas consumption stood at 12.9% as of December 31, 2021. (7) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. Mexico Crude oil (1) Natural gas Natural gas (MMBbl) (Bcf) (MMBbl Proved reserves (developed and undeveloped) Reserves as of December 31, 2020 0.2 0.7 0.1 Increase (decrease) attributable to: Review of prior estimates (2) 1.5 3.0 0.5 Purchases of onsite proved reserves (3) 1.7 2.4 0.4 Production for the year (4) (0.1 ) — — Reserves as of December 31, 2021 (5) 3.3 6.2 1.1 (1) It refers to Crude oil, condensate, and LNG. (2) The revisions of proved developed Crude oil, condensate and Natural gas reserves are related to the development plan approved by the CNH, as well as the drilling and completion of Vernet-1001 wells. (3) The changes due to purchases/sales of Crude oil (+1.7 MMbbl) and Natural gas (+2.4 bcf) are mainly related to the transfer of assets in Mexico, whereby Company increased its equity to 100 CS-01 (4) Considering Vista Holding II’s output. (5) Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding. |
Summary of standardized measure of discounted future cash flows | As of December 31, 2023 (1) As of December 31, 2022 (1) As of December 31, 2021 (1) (2) Future cash flows 18,771 16,118 8,506 Future production costs (5,573 ) (4,634 ) (2,638 ) Future development and abandonment costs (3,198 ) (2,142 ) (1,294 ) Future income tax (3,477 ) (3,009 ) (1,432 ) Discounted future net cash flows 6,523 6,333 3,142 10% annual discount (3,133 ) (3,092 ) (1,630 ) Standardized measure of discounted future net cash flows 3,390 3,241 1,512 (1) Amounts expressed in millions of US Dollars (“MM USD”). (2) As of December 31, 2021, the standardized measure of future discounted cash flow (net) is related to the estimated value of reserves in Argentina. The table does not include the estimated value of the reserves in Mexico’s areas (24MM USD as of December 31, 2021). |
Summary of changes in the standardized measure of discounted future net cash flows | The following table shows the changes in the standardized measure of future discounted cash flow, net, for the years ended December 31, 2023, 2022 and 2021: Year ended December 31, 2023 (1) Year ended December 31, 2022 (1) Year ended December 31, 2021 (1) Standardized measure of future 3,241 1,512 738 Net changes in selling prices and (2) (314 ) 1,170 783 Net changes in estimated future (3) (3,642 ) (2,632 ) 28 Net changes from revisions of (4) (220 ) 229 44 Net changes from extensions, (5) 2,240 1,790 1,006 Cumulative discount 3,333 1,585 116 Net changes from on-site (6) (131 ) 55 (40 ) Sales of Crude oil, LNG and Natural 841 820 (429 ) Estimated development costs (669 ) (460 ) (263 ) Net changes in income tax (7) (1,289 ) (852 ) (471 ) Other (8) — 24 — Changes in the standardized measure 149 1,729 774 Standardized measure of future 3,390 3,241 1,512 (1) Amounts expressed in MM USD. (2) For the year ended December 31, 2023, primarily affected by a decrease in the prices of crude oil, petroleum condensate, natural gas, and LPG in Argentina, which decreased from USD 72.32 per barrel to USD 66.50 per barrel of crude oil, condensate, and C5+, from USD 31.19 per barrel to USD 25.40 per barrel of LPG, and from USD 4.86 per cubic foot to USD 3.55 per cubic foot of sales gas. Also, for the year ended December 31, 2022, primarily affected by a rise in the prices of crude oil, petroleum condensate, natural gas, and LPG in Argentina, which increased from USD 54.99 per barrel to USD 72.32 per barrel of crude oil, condensate, and C5+, from USD 26.87 per barrel to USD 31.19 per barrel of LPG, and from USD 3.92 per cubic foot to USD 4.86 per cubic foot of sales gas. (3) For the years ended December 31, 2023, and 2022, related to cost development revisions of the unconventional area of Bajada del Palo Oeste, Bajada del Palo Este Aguada Federal and Águila Mora. (4) For the years ended December 31, 2023, and 2022, mainly affected by the extension in the economic limits of assets due to a decrease in the prices of crude oil, petroleum condensate, natural gas and LPG, detailed in point (2). (5) For the year ended December 31, 2023, mainly related to the extension of the proved area due to the addition of 40 wells in proved reserves in Bajada del Palo Oeste area in Vaca Muerta formation with positive results. Also related to the addition of proved reserves from the unconventional Bajada del Palo Este area with 26 additional wells. A total of 19 wells were added in the unconventional Aguada Federal area, 2-well (6) For the year ended December 31, 2023, the agreement with Aconcagua is terminated, granting the operation as from March 1, 2023, with 60 25 (7) For the year ended December 31, 2023, and 2022, the change is due to the increase in income tax caused by higher expected revenue mainly from the extensions and increases in hydrocarbon prices. (8) For the year ended December 31, 2022, it includes the estimated value of Mexican reserves. |
Group information - Additional
Group information - Additional Information (Detail) $ in Thousands, m³ in Millions, MMBbls in Millions | 12 Months Ended | 48 Months Ended | ||||||
Dec. 31, 2023 USD ($) | Feb. 28, 2027 MMBbls | Feb. 28, 2027 m³ | Feb. 28, 2027 Kilocalories | Mar. 31, 2025 USD ($) | Mar. 31, 2024 USD ($) | Feb. 23, 2023 USD ($) | Feb. 15, 2023 USD ($) | |
Corporate and Company information [Line Items] | ||||||||
Cash | $ 10,000 | $ 5,734 | $ 10,734 | $ 26,468 | $ 10,000 | |||
Volume of oil reserve receivable | 4 | 300 | ||||||
Volume of natural gas receivable | Kilocalories | 9,300 | |||||||
Receivable related to the transfer of conventional assets | 205,730 | |||||||
Gains (losses) on disposals of property, plant and equipment | 120,529 | |||||||
Gain related to the transfer of conventional assets | 89,659 | |||||||
Other non-cash costs related to the transfer of conventional assets | 27,539 | |||||||
Goodwill [member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Gains (losses) on disposals of other non-current assets | $ 5,542 | |||||||
Vista Argentina [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Ownership percentage | 100% | |||||||
Neuquen Basin Argentina [Member] | Medanito25 de Mayo and Jagel de los Machos [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 100% | |||||||
Neuquen Basin Argentina [Member] | Coirn Amargo Norte CAN [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 84.62% | |||||||
Neuquen Basin Argentina [Member] | Bajada del Palo Oeste and Bajada del Palo Este Aguada Federal and Bandurria Norte [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 100% | |||||||
Neuquen Basin Argentina [Member] | Aguila Mora [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 90% | |||||||
Northwest Basin Argentina [Member] | Acambuco [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 1.50% | |||||||
Mexico 50% of blocks CS-01 [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 100% | |||||||
In Argentina [Member] | Federal [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 100% | |||||||
In Argentina [Member] | Entre Lomas [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 100% | |||||||
In Argentina [Member] | Twenty Five de MayoMedanito SE [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 100% | |||||||
In Argentina [Member] | Jarilla Quemada [Member] | ||||||||
Corporate and Company information [Line Items] | ||||||||
Percentage of Concessions for Exploitation | 100% |
Basis of preparation and mate_4
Basis of preparation and material accounting policies - Summary of equity interest in subsidiaries (Detail) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Vista Energy Holding I, S.A. de C.V. ("Vista Holding I") [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Mexico | ||
Main activity | Holding company | ||
Vista Energy Holding II, S.A. de C.V. ("Vista Holding II") [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Mexico | ||
Main activity | Exploration and production | ||
Vista Energy Holding III, S.A. de C.V. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Mexico | ||
Main activity | Services | ||
Vista Energy Holding IV, S.A. de C.V. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Mexico | ||
Main activity | Services | ||
Vista Oil & Gas Holding V B.V. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Netherland | ||
Main activity | Holding company | ||
Vista Complemento S.A. de C.V. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 0% | 100% | |
Place of incorporation and operation | Mexico | ||
Main activity | Services | ||
Vista Holding VII S.á.r.l. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Luxembourg | ||
Main activity | Holding company | ||
Vista Argentina [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Argentina | ||
Main activity | Exploration and production | ||
Aleph Midstream S.A. ("Aleph") [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Argentina | ||
Main activity | Services | ||
Aluvional S.A. ("Aluvional") [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Argentina | ||
Main activity | Mining and industry | ||
AFBN S.R.L. ("AFBN") [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Argentina | ||
Main activity | Exploration and production | ||
VX Ventures Asociación en Participación [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interest by the Group | 100% | 100% | 100% |
Place of incorporation and operation | Mexico | ||
Main activity | Holding company |
Basis of preparation and mate_5
Basis of preparation and material accounting policies - Summary of useful lives of property plant and equipment (Detail) | 12 Months Ended |
Dec. 31, 2023 | |
Buildings [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful lives of the assets | 50 years |
Machinery and installations [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful lives of the assets | 10 years |
Equipment and furniture [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful lives of the assets | 10 years |
Vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful lives of the assets | 5 years |
Computer equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful lives of the assets | 3 years |
Basis of preparation and mate_6
Basis of preparation and material accounting policies - Additional information (Detail) € in Millions | 3 Months Ended | 4 Months Ended | 5 Months Ended | 7 Months Ended | 12 Months Ended | |||||||||||
May 23, 2023 EUR (€) | Apr. 19, 2023 USD ($) m³ | Dec. 31, 2024 m³ | Sep. 30, 2023 m³ | Apr. 30, 2022 m³ | Sep. 30, 2024 m³ | Apr. 30, 2024 m³ | Apr. 30, 2023 m³ | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Nov. 20, 2023 | Oct. 23, 2023 | Oct. 03, 2023 | |
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Percentage of legal reserve to share capital | 20% | 20% | 20% | |||||||||||||
Prevailing Income tax rates in Argentina and Mexico | 30% | 30% | 30% | |||||||||||||
Royalties percentage | 12% | |||||||||||||||
Contractual percentage | 45% | |||||||||||||||
Other receivables From Gas IV plan | $ 1,245,000 | $ 3,772,000 | ||||||||||||||
Revenue | € 750 | $ 1,168,774,000 | 1,187,660,000 | $ 665,310,000 | ||||||||||||
Export duty rate | 8% | |||||||||||||||
Gain losses from exportS increase program | $ 81,232,000 | |||||||||||||||
Average price | $ 3,290 | |||||||||||||||
Increase decrease proved developed and undeveloped reserves, sales of minerals in place | m³ | 1.14 | |||||||||||||||
Investments accounted for using equity method | 8,619,000 | 6,443,000 | ||||||||||||||
Revenues from contract with customers and Royalties and others [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Export Duties | 43,840,000 | $ 13,123,000 | ||||||||||||||
Gas IV Plan [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Paid consideration | 5,189,000 | 3,149,000 | ||||||||||||||
Other receivables From Gas IV plan | $ 1,245,000 | $ 3,772,000 | ||||||||||||||
Supply of gas | m³ | 0.43 | 0.02 | 0.15 | 0.17 | 0.43 | 0.45 | ||||||||||
Argentina [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Prevailing Income tax rates in Argentina and Mexico | 35% | 3.29% | 0.86% | |||||||||||||
Mexico [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Prevailing Income tax rates in Argentina and Mexico | 30% | |||||||||||||||
Resolution No. 808/23 [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Percentage of funds may be received as securities on exports | 25% | |||||||||||||||
Decree No. 549/23 [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Percentage of funds may be received as securities on exports | 30% | |||||||||||||||
Decree No. 597/23 [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Percentage of funds may be received as securities on exports | 50% | |||||||||||||||
Decree No. 28/23 [Member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Percentage of funds may be received as securities on exports | 20% | |||||||||||||||
Bottom of range [member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Percentage of profit allocated to legal reserve | 5% | |||||||||||||||
Additional royalties percentage | 3% | |||||||||||||||
Top of range [member] | ||||||||||||||||
Basis of Preparation and Presentation [Line Items] | ||||||||||||||||
Additional royalties percentage | 18% |
Significant accounting judgem_3
Significant accounting judgements estimates and assumptions - Additional information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of information for cash-generating units [line items] | |||
Goodwill | $ 22,576 | $ 28,288 | |
Tax rate | 30% | 30% | 30% |
Asset retirement obligations | $ 15,287 | $ 32,524 | |
Gain related to the transfer of conventional assets | 89,659 | ||
Initial Business Combination [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | $ 22,576 | 28,888 | |
Argentina [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Tax rate | 35% | ||
Impairment loss | 1,679 | ||
Argentina [Member] | Non Operating Conventional Oil Concessions and Gas [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Impairment loss | $ 1,679 | ||
Mexico [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Tax rate | 30% | ||
Impairment loss | $ 22,906 | ||
Mexico [member] | Conventional Oil and Gas Operating Concessions [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Impairment loss | $ 22,906 | $ 14,044 |
Significant accounting judgem_4
Significant accounting judgements estimates and assumptions - Schedule of assumptions used In sensitivity analysis for CGU's (Detail) | Dec. 31, 2023 MMBTU bbl | Dec. 31, 2022 MMBTU bbl | Dec. 31, 2021 MMBTU bbl | |
Mexico [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Discount rates (post-tax) | 6% | 7.90% | 6.10% | |
Discount rates (before taxes) | 8.2 | 11.6 | 10 | |
Natural gas-local prices (USD/MMBTU) | MMBTU | 3.3 | 3 | 3 | |
LPG-local prices (USD/tn.) | 0 | 0 | 0 | |
Argentina [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Discount rates (post-tax) | 12.90% | 11.90% | 10.40% | |
Discount rates (before taxes) | 21.9 | 18.7 | 16.6 | |
Natural gas-local prices (USD/MMBTU) | MMBTU | 2.8 | 3.9 | 3.3 | |
LPG-local prices (USD/tn.) | 296.3 | 250.4 | 300 | |
Year 2023 [Member] | Mexico [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 0 | 72.2 | 63 |
Year 2023 [Member] | Argentina [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 0 | 80.3 | 70.1 |
Year 2024 [Member] | Mexico [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 73.4 | 88.3 | 63.5 |
Year 2024 [Member] | Argentina [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 82.4 | 92.8 | 70.5 |
Year 2025 [Member] | Mexico [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 70.9 | 79.9 | 58.9 |
Year 2025 [Member] | Argentina [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 79 | 84 | 65.9 |
Year 2026 [Member] | Mexico [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 64.5 | 78.3 | 58.9 |
Year 2026 [Member] | Argentina [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 72.6 | 79.3 | 64.6 |
Year 2027 [Member] | Mexico [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 61.3 | 78.3 | 58.9 |
Year 2027 [Member] | Argentina [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Crude oil-Brent (USD/bbl.) | [1] | 66.4 | 79.3 | 64.6 |
[1]The prices correspond to Brent and Maya, for Argentina and Mexico, respectively. |
Significant accounting judgem_5
Significant accounting judgements estimates and assumptions - Schedule of sensitivity analysis for CGU's with respect to change in assumptions (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Discount rate [Member] | Argentina [Member] | |||||||
Disclosure of information for cash-generating units [line items] | |||||||
Increase In Value Of CGU | [1] | $ 136 | $ 98 | ||||
Discount rate [Member] | Mexico [Member] | |||||||
Disclosure of information for cash-generating units [line items] | |||||||
Percentage Increase Decrease In Assumptions Used In Value In Use | 10% | 10% | 10% | ||||
Increase In Value Of CGU | $ 2,559 | $ 98 | |||||
Expected prices of crude oil, natural gas and LPG [Member] | Argentina [Member] | |||||||
Disclosure of information for cash-generating units [line items] | |||||||
Decrease In Value Of CGU | $ 349 | [1] | $ 41,816 | [2] | $ 31,773 | [1] | |
Expected prices of crude oil, natural gas and LPG [Member] | Mexico [Member] | |||||||
Disclosure of information for cash-generating units [line items] | |||||||
Percentage Increase Decrease In Assumptions Used In Value In Use | 10% | 10% | 10% | ||||
Decrease In Value Of CGU | $ 13,402 | ||||||
[1]Related to the non-operating concessions of conventional oil and gas exploration and production CGU.[2]Related to the operated concessions of conventional oil and gas exploration and production CGU. |
Segment information - Schedule
Segment information - Schedule of assets and liabilities by geographical area (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of geographical areas [line items] | |||
Total non-current assets | $ 2,172,099 | $ 1,690,289 | $ 1,308,688 |
Argentina [member] | |||
Disclosure of geographical areas [line items] | |||
Total non-current assets | 2,122,735 | 1,638,973 | 1,260,851 |
Mexico [member] | |||
Disclosure of geographical areas [line items] | |||
Total non-current assets | $ 49,364 | $ 51,316 | $ 47,837 |
Segment information - Additiona
Segment information - Additional information (Detail) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Argentina [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue percentage | 99% | 99% | 99% |
Mexico [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue percentage | 1% | 1% | 1% |
Revenue from contracts with c_3
Revenue from contracts with customers - Schedule of revenue from contract with customers (Detail) $ in Thousands, € in Millions | 12 Months Ended | |||
May 23, 2023 EUR (€) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Disclosure Of Revenue From Contracts With Customers [Line Items] | ||||
Revenue from contract with customers | € 750 | $ 1,168,774 | $ 1,187,660 | $ 665,310 |
Recognized at a point in time [member] | ||||
Disclosure Of Revenue From Contracts With Customers [Line Items] | ||||
Revenue from contract with customers | 1,168,774 | 1,187,660 | 665,310 | |
Sales of goods [Member] | ||||
Disclosure Of Revenue From Contracts With Customers [Line Items] | ||||
Revenue from contract with customers | $ 1,168,774 | $ 1,187,660 | $ 665,310 |
Revenue from contracts with c_4
Revenue from contracts with customers - Schedule of revenue through different channels (Detail) $ in Thousands, € in Millions | 12 Months Ended | |||
May 23, 2023 EUR (€) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenues from Crude oil sales | $ 1,097,316 | $ 1,113,411 | $ 606,183 | |
Revenues from Natural gas sales | 67,290 | 68,663 | 54,301 | |
Revenues from LPG sales | 4,168 | 5,586 | 4,826 | |
Total revenue from contracts with customers | € 750 | 1,168,774 | 1,187,660 | 665,310 |
Other Sales Channels [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | 1,168,774 | 1,187,660 | 665,310 | |
Exports of crude oil [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | 642,155 | 604,977 | 195,279 | |
Local crude oil for refineries [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | 455,161 | 508,434 | 410,904 | |
Exports of natural gas [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | 20,359 | 13,531 | 169 | |
Local natural gas for industries [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | 19,606 | 20,093 | 17,320 | |
Local natural gas for retail distribution companies [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | 17,639 | 18,829 | 18,351 | |
Local natural gas for electric power generation [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | 9,686 | 16,210 | 18,461 | |
LPG sales [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Total revenue from contracts with customers | $ 4,168 | $ 5,586 | $ 4,826 |
Cost of sales - Schedule of ope
Cost of sales - Schedule of operating expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Expenses by nature [abstract] | |||
Fees and compensation for services | $ 48,729 | $ 66,155 | $ 53,024 |
Salaries and payroll taxes | 21,072 | 22,344 | 16,591 |
Employee benefits | 5,926 | 6,481 | 4,877 |
Transport | 5,214 | 5,963 | 3,274 |
Consumption of materials and spare parts | 4,933 | 16,824 | 15,912 |
Easements and fees | 4,547 | 11,427 | 9,572 |
Other | 4,264 | 4,191 | 3,873 |
Total operating costs | $ 94,685 | $ 133,385 | $ 107,123 |
Cost of sales - Schedule of cru
Cost of sales - Schedule of crude oil fluctuation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Crude oil stock at beginning of the year (Note 19) | $ 4,722 | ||
Less: Crude oil stock at end of the year (Note 19) | (2,664) | $ (4,722) | |
Crude oil stock fluctuation [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Crude oil stock at beginning of the year (Note 19) | 4,722 | 5,222 | $ 6,127 |
Less: Crude oil stock at end of the year (Note 19) | (2,664) | (4,722) | (5,222) |
Total crude oil stock fluctuation | $ 2,058 | $ 500 | $ 905 |
Cost of sales - Schedule of roy
Cost of sales - Schedule of royalties and others (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Detailed Information About Royalties And Other Expenses [Abstract] | |||
Royalties | $ 128,723 | $ 144,837 | $ 86,241 |
Export duties | 48,090 | 43,840 | 13,123 |
Total royalties and others | $ 176,813 | $ 188,677 | $ 99,364 |
Selling expenses - Schedule of
Selling expenses - Schedule of selling expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of selling expenses [Abstract] | |||
Transport | $ 33,006 | $ 28,686 | $ 19,554 |
Taxes, rates and contributions | 14,908 | 16,522 | 13,921 |
Fees and compensation for services | 10,490 | 5,137 | 2,806 |
Tax on bank account transactions | 10,388 | 9,595 | 6,061 |
(Reversal of) allowance for expected credit losses (Note 17) | 0 | (36) | 406 |
Total selling expenses | $ 68,792 | $ 59,904 | $ 42,748 |
General and administrative ex_3
General and administrative expenses - Schedule of general and administrative expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of General and Administrative Expenses [Abstract] | |||
Salaries and payroll taxes | $ 23,300 | $ 27,178 | $ 20,242 |
Share-based payments (Note 31) | 23,133 | 16,576 | 10,592 |
Fees and compensation for services | 11,764 | 9,848 | 7,412 |
Employee benefits | 4,678 | 3,360 | 2,124 |
Institutional promotion and advertising | 2,174 | 2,066 | 2,237 |
Taxes, rates and contributions | 1,884 | 1,859 | 1,311 |
Others | 3,550 | 2,939 | 1,940 |
Total general and administrative expenses | $ 70,483 | $ 63,826 | $ 45,858 |
Exploration Expenses - Schedule
Exploration Expenses - Schedule of exploration and evaluation expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Text Block [Abstract] | |||
Geological and geophysical expenses | $ 16 | $ 736 | $ 561 |
Total exploration expenses | $ 16 | $ 736 | $ 561 |
Other operating income and ex_3
Other operating income and expenses - Schedule of other operating income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Operating Income [Abstract] | |||
Gain related to the transfer of conventional assets | $ 89,659 | ||
Gain from exports increase program | 81,232 | ||
Gain from farmout agreement | 24,429 | $ 18,218 | $ 9,050 |
Other services income | 8,492 | 8,480 | 4,236 |
Gain from assets disposal | 9,999 | ||
Total other operating income | $ 203,812 | $ 26,698 | $ 23,285 |
Other operating income and ex_4
Other operating income and expenses - Schedule of other operating income (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement [Line Items] | |||
Gain loss related to export increase program | $ 86,173 | ||
Gain from assets disposal | $ 9,999 | ||
Payments received from farmout agreement | 26,650 | $ 20,000 | 10,000 |
Oil and gas assets [member] | |||
Statement [Line Items] | |||
Disposals, property, plant and equipment | 2,051 | 1,654 | 882 |
Farmout agreement [Member] | |||
Statement [Line Items] | |||
Disposals, intangible assets and goodwill | $ 170 | $ 128 | 68 |
Transfer Of Working Interest In CASO [Member] | |||
Statement [Line Items] | |||
Gain from assets disposal | 9,788 | ||
Transfer of Mexicos Exploration Assets [Member] | |||
Statement [Line Items] | |||
Gain from assets disposal | 198 | ||
Sur Ro Deseado Este Area [Member] | |||
Statement [Line Items] | |||
Gain from assets disposal | $ 13 |
Other operating income and ex_5
Other operating income and expenses - Schedule of other operating expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Operating Expenses [Abstract] | |||
(Provision for) environmental remediation | $ (485) | $ (2,133) | $ (1,029) |
Restructuring and reorganization expenses | (276) | (531) | (2,284) |
Reversal of (provision for) materials and spare parts obsolescence | 1,132 | (278) | (249) |
(Provision for) contingencies | (69) | (379) | (652) |
Total other operating expenses | $ 302 | $ (3,321) | $ (4,214) |
Financial income (expense), n_3
Financial income (expense), net - Schedule of interest income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Interest Income [Abstract] | |||
Financial interest | $ 1,235 | $ 809 | $ 65 |
Total interest income | $ 1,235 | $ 809 | $ 65 |
Financial income (expense), n_4
Financial income (expense), net - Schedule of interest expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest costs [abstract] | |||
Borrowings interest (Note 18.2) | $ (21,879) | $ (28,886) | $ (50,660) |
Total interest expense | $ (21,879) | $ (28,886) | $ (50,660) |
Financial income (expense), n_5
Financial income (expense), net - Schedule of other financial results (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Financial Results [Abstract] | |||
Amortized cost | $ (1,810) | $ (2,365) | $ (4,164) |
Changes in the fair value of Warrants | 0 | (30,350) | (2,182) |
Net changes in foreign exchange rate | 18,458 | 33,263 | 14,328 |
Discount of assets and liabilities at present value | 2,137 | (2,561) | (2,300) |
Changes in the fair value of financial assets | 19,437 | (17,599) | 5,061 |
Interest expense on lease liabilities | (2,894) | (1,925) | (1,079) |
Discount for well plugging and abandonment | (2,387) | (2,444) | (2,546) |
Remeasurement in borrowings | (72,044) | (52,817) | (19,163) |
Others | (26,381) | 9,242 | 4,851 |
Total other financial results | $ (65,484) | $ (67,556) | $ (7,194) |
Financial income (expense), n_6
Financial income (expense), net - Schedule of other financial results (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
May 29, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Other Financial Results [Abstract] | |||
Loss for negotiable obligations | $ 819 | $ 819 | $ 2,515 |
Earnings per share -Schedule of
Earnings per share -Schedule of basic and diluted earnings per share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings per share [abstract] | |||
Profit for the year, net | $ 396,955 | $ 269,535 | $ 50,650 |
Weighted average number of ordinary shares | 93,679,904 | 87,862,531 | 88,242,621 |
Basic earnings per share | $ 4.237 | $ 3.068 | $ 0.574 |
Profit for the year, net | $ 396,955 | $ 269,535 | $ 50,650 |
Weighted average number of ordinary shares | 99,232,919 | 97,830,538 | 93,273,978 |
Diluted earnings per share | $ 4 | $ 2.755 | $ 0.543 |
Earnings per share -Schedule _2
Earnings per share -Schedule of basic and diluted earnings per share (Parenthetical) (Detail) - shares | Dec. 31, 2023 | Dec. 31, 2022 | Oct. 04, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Earnings per share [abstract] | |||||
Number of shares outstanding | 95,355,432 | 88,406,480 | 3,215,483 | 88,629,879 | 87,851,288 |
Number of shares outstanding maximum | 98,781,028 |
Earnings per share - Additional
Earnings per share - Additional information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings per share [line items] | |||
Dilutive effect of share options on weighted average number of ordinary shares | 99,232,919 | ||
Ordinary shares [member] | |||
Earnings per share [line items] | |||
Anti-dilutive shares | 9,893,333 | ||
Warrants outstanding | 29,680,000 | ||
Series A Common Shares Under LTIP [member] | |||
Earnings per share [line items] | |||
Anti-dilutive shares | 3,705,757 | 4,854,408 | 3,957,518 |
Class A Warrant [member] | |||
Earnings per share [line items] | |||
Warrants outstanding | 65,000,000 | ||
Class A Warrant [member] | Series A common shares [member] | |||
Earnings per share [line items] | |||
Anti-dilutive shares | 21,666,667 | ||
Forward Purchase Agreement Warrants [member] | |||
Earnings per share [line items] | |||
Anti-dilutive shares | 1,666,667 | ||
Warrants outstanding | 5,000,000 |
Property, plant and equipment -
Property, plant and equipment - Schedule Of Plant Property Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | $ 1,606,339 | |||||
Ending Balance | 1,927,759 | $ 1,606,339 | ||||
Land and buildings [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 10,494 | |||||
Ending Balance | 12,342 | 10,494 | ||||
Vehicles, machinery,installations computer equipment and furniture [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 27,935 | |||||
Ending Balance | 28,285 | 27,935 | ||||
Oil and gas properties [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 445,217 | |||||
Disposals | (2,051) | (1,654) | $ (882) | |||
Ending Balance | 418,052 | 445,217 | ||||
Wells and production facilities [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 926,787 | |||||
Ending Balance | 1,301,110 | 926,787 | ||||
Work in progress [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 153,948 | |||||
Ending Balance | 123,015 | 153,948 | ||||
Materials [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 41,958 | |||||
Ending Balance | 44,955 | 41,958 | ||||
Cost [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 2,371,281 | 1,765,810 | ||||
Additions | 734,314 | 540,020 | ||||
Disposals | (3,418) | (3,292) | ||||
Impairment of long -lived assets | [1] | (28,375) | ||||
Disposals related to the transfer of conventional assets | [2] | (314,383) | ||||
Incorporation for the acquisition of AFBN assets | 68,743 | |||||
Ending Balance | 2,759,419 | 2,371,281 | 1,765,810 | |||
Cost [member] | Land and buildings [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 10,794 | 2,709 | ||||
Additions | 8,550 | |||||
Transfers | 3,474 | |||||
Disposals | (465) | |||||
Disposals related to the transfer of conventional assets | [2] | (1,694) | ||||
Ending Balance | 12,574 | 10,794 | 2,709 | |||
Cost [member] | Vehicles, machinery,installations computer equipment and furniture [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 43,522 | 23,070 | ||||
Additions | 1 | 285 | ||||
Transfers | 7,551 | 20,171 | ||||
Disposals | (13) | (4) | ||||
Disposals related to the transfer of conventional assets | [2] | (7,537) | ||||
Ending Balance | 43,524 | 43,522 | 23,070 | |||
Cost [member] | Oil and gas properties [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 513,164 | 446,291 | ||||
Disposals | (2,475) | [3] | (1,870) | [4] | ||
Impairment of long -lived assets | [1] | (11,982) | ||||
Incorporation for the acquisition of AFBN assets | [5] | 68,743 | ||||
Ending Balance | 498,707 | 513,164 | 446,291 | |||
Cost [member] | Wells and production facilities [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 1,607,895 | 1,174,699 | ||||
Transfers | 738,092 | 433,909 | ||||
Disposals | [6] | (930) | (713) | |||
Impairment of long -lived assets | [1] | (16,393) | ||||
Disposals related to the transfer of conventional assets | [2] | (292,020) | ||||
Ending Balance | 2,036,644 | 1,607,895 | 1,174,699 | |||
Cost [member] | Work in progress [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 153,948 | 91,245 | ||||
Additions | 636,189 | 433,942 | ||||
Transfers | (666,739) | (371,239) | ||||
Disposals related to the transfer of conventional assets | [2] | (383) | ||||
Ending Balance | 123,015 | 153,948 | 91,245 | |||
Cost [member] | Materials [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | 41,958 | 27,796 | ||||
Additions | 98,124 | 97,243 | ||||
Transfers | (82,378) | (82,841) | ||||
Disposals | (240) | |||||
Disposals related to the transfer of conventional assets | [2] | (12,749) | ||||
Ending Balance | 44,955 | 41,958 | 27,796 | |||
Accumulated depreciation and impairment [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | (764,942) | (541,828) | ||||
Depreciation | (264,796) | (223,344) | ||||
Disposals | 434 | 230 | ||||
Impairment of long -lived assets | [1] | 3,790 | ||||
Disposals related to the transfer of conventional assets | [2] | 193,854 | ||||
Ending Balance | (831,660) | (764,942) | (541,828) | |||
Accumulated depreciation and impairment [member] | Land and buildings [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | (300) | (294) | ||||
Depreciation | (3) | (17) | ||||
Disposals | 11 | |||||
Disposals related to the transfer of conventional assets | [2] | 71 | ||||
Ending Balance | (232) | (300) | (294) | |||
Accumulated depreciation and impairment [member] | Vehicles, machinery,installations computer equipment and furniture [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | (15,587) | (10,834) | ||||
Depreciation | (4,921) | (4,756) | ||||
Disposals | 10 | 3 | ||||
Disposals related to the transfer of conventional assets | [2] | 5,259 | ||||
Ending Balance | (15,239) | (15,587) | (10,834) | |||
Accumulated depreciation and impairment [member] | Oil and gas properties [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | (67,947) | (53,623) | ||||
Depreciation | (13,634) | (14,540) | ||||
Disposals | 424 | [3] | 216 | [4] | ||
Impairment of long -lived assets | [1] | 502 | ||||
Ending Balance | (80,655) | (67,947) | (53,623) | |||
Accumulated depreciation and impairment [member] | Wells and production facilities [member] | ||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||
Beginning Balance | (681,108) | (477,077) | ||||
Depreciation | (246,238) | (204,031) | ||||
Impairment of long -lived assets | [1] | 3,288 | ||||
Disposals related to the transfer of conventional assets | [2] | 188,524 | ||||
Ending Balance | $ (735,534) | $ (681,108) | $ (477,077) | |||
[1]See Note 3.2.2.[2]See Note 1.2.1.[3]Related to the farmout agreement I and II mentioned in Note 29.2.1.1 and 29.2.1.2.[4]Related to the farmout agreement I, mentioned in Note 29.2.1.1.[5]See Note 29.2.5[6]Related to the re-estimation of well plugging and abandonment (Note 22.1). This transaction did not generate cash flows. |
Goodwill and other intangible_3
Goodwill and other intangible assets - Schedule of reconciliation of changes in intangible assets and goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | $ 28,288 | ||
Ending balance | 22,576 | $ 28,288 | |
Other intangible assets [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 6,792 | ||
Ending balance | 10,026 | 6,792 | |
Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Disposals related to the transfer of conventional assets | [1] | (314,383) | |
Cost [member] | Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 28,288 | 28,416 | |
Disposals | [2] | (170) | (128) |
Disposals related to the transfer of conventional assets | [1] | (5,542) | |
Ending balance | 22,576 | 28,288 | |
Cost [member] | Other intangible assets [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 18,246 | 12,216 | |
Additions | 7,293 | 6,030 | |
Disposals related to the transfer of conventional assets | [1] | (1,143) | |
Ending balance | 24,396 | 18,246 | |
Accumulated amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Disposals related to the transfer of conventional assets | [1] | 193,854 | |
Accumulated amortization [member] | Other intangible assets [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (11,454) | (8,338) | |
Disposals related to the transfer of conventional assets | [1] | 1,143 | |
Amortization charge | (4,059) | (3,116) | |
Ending balance | $ (14,370) | $ (11,454) | |
[1]See Note 1.2.1.[2]Related to the farmout agreement I and II mentioned in Note 29.2.1.1 and 29.2.1.2. |
Goodwill and other intangible_4
Goodwill and other intangible assets - Additional Information (Detail) $ in Thousands | Dec. 31, 2022 USD ($) |
Disclosure of detailed information about intangible assets [line items] | |
Amount of operated concessions of unconventional oil and gas exploration and production | $ 22,746 |
Amount of operated concessions of conventional oil and gas exploration and production | $ 5,542 |
Right of use assets and lease_3
Right of use assets and lease liabilities - Summary of carrying amounts of the Company's right of use assets and lease and the movements during the years (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | $ 26,228 | $ 26,454 | |||
Additions | 63,336 | 449 | |||
Reestimation | 1,436 | 9,554 | |||
Depreciation | (29,975) | [1] | (10,229) | [2] | |
Interest expense | (2,894) | (1,925) | $ (1,079) | ||
Ending balance | 61,025 | 26,228 | 26,454 | ||
Lease liabilities [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 29,194 | 27,074 | |||
Additions | 68,499 | 449 | |||
Reestimation | (1,675) | (9,554) | |||
Payments | 36,780 | 11,494 | |||
Interest expense | (7,880) | [3] | (3,611) | [4] | |
Ending balance | 70,468 | 29,194 | 27,074 | ||
Buildings [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 986 | 1,211 | |||
Reestimation | (14) | 348 | |||
Depreciation | (584) | [1] | (573) | [2] | |
Ending balance | 388 | 986 | 1,211 | ||
Facilities and machinery [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 25,242 | 25,243 | |||
Additions | 63,336 | 449 | |||
Reestimation | 1,450 | 9,206 | |||
Depreciation | (29,391) | [1] | (9,656) | [2] | |
Ending balance | $ 60,637 | $ 25,242 | $ 25,243 | ||
[1]Including the depreciation of drilling services capitalized as “Works in progress” for 22,400.[2]Including the depreciation of drilling services capitalized as “Works in progress” for 1,827.[3]Including drilling agreements capitalized as “Works in progress” for 4,986.[4]Including drilling agreements capitalized as “Works in progress” for 1,686. |
Right of use assets and lease_4
Right of use assets and lease liabilities - Summary of carrying amounts of the Company's right of use assets and lease and the movements during the years (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | |||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Depreciation, right-of-use assets | $ 29,975 | [1] | $ 10,229 | [2] |
Drilling Services [Member] | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Depreciation, right-of-use assets | 22,400 | 1,827 | ||
Borrowing costs capitalised | $ 4,986 | $ 1,686 | ||
[1]Including the depreciation of drilling services capitalized as “Works in progress” for 22,400.[2]Including the depreciation of drilling services capitalized as “Works in progress” for 1,827. |
Right of use assets and lease_5
Right of use assets and lease liabilities - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |||
Expenses relating to short-term leases | $ 69 | ||
Expenses relating to low-value assets leases | $ 118 | $ 152 |
Deferred income tax assets an_3
Deferred income tax assets and liabilities and income tax expense - Schedule of temporary difference unused tax losses and unused tax credits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Profit (loss) | $ (132,011) | $ (71,890) | $ (39,695) |
Other comprehensive income (loss) | (2,298) | 1,463 | 2,048 |
Net deferred income tax liabilities [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (243,076) | (172,649) | |
Profit (loss) | (132,011) | (71,890) | |
Other comprehensive income (loss) | (2,298) | 1,463 | |
Ending balance | (377,385) | (243,076) | (172,649) |
Assets for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 15,817 | 16,810 | |
Profit (loss) | 3,270 | (2,456) | |
Other comprehensive income (loss) | (2,298) | 1,463 | |
Ending balance | 16,789 | 15,817 | 16,810 |
Assets for deferred income tax [member] | Previously stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 15,817 | ||
Ending balance | 15,817 | ||
Liabilities for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (258,893) | (189,459) | |
Profit (loss) | (135,281) | (69,434) | |
Ending balance | (394,174) | (258,893) | (189,459) |
Liabilities for deferred income tax [member] | Previously stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (258,893) | ||
Ending balance | (258,893) | ||
Short-term investments [member] | Liabilities for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (1,210) | (1,925) | |
Profit (loss) | 1,046 | 715 | |
Ending balance | (164) | (1,210) | (1,925) |
Trade and other receivables [member] | Liabilities for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (1,347) | 1,784 | |
Profit (loss) | (10,353) | (3,131) | |
Ending balance | (11,700) | (1,347) | 1,784 |
Right-of-use assets, net [member] | Assets for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 1,038 | 161 | |
Profit (loss) | 2,267 | 877 | |
Ending balance | 3,305 | 1,038 | 161 |
Tax losses and other unused tax credits [member] | Assets for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 4,717 | 6,972 | |
Profit (loss) | 3,215 | (2,255) | |
Ending balance | 7,932 | 4,717 | 6,972 |
Provisions [member] | Assets for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 4,706 | 7,265 | |
Profit (loss) | (436) | (2,559) | |
Ending balance | 4,270 | 4,706 | 7,265 |
Property, plant and equipment [member] | Liabilities for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (146,154) | (150,786) | |
Profit (loss) | (132,570) | 4,632 | |
Ending balance | (278,724) | (146,154) | (150,786) |
Tax inflation adjustments [member] | Liabilities for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (108,363) | (36,038) | |
Profit (loss) | 6,124 | (72,325) | |
Ending balance | (102,239) | (108,363) | (36,038) |
Inventories [member] | Liabilities for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (898) | (1,269) | |
Profit (loss) | 519 | 371 | |
Ending balance | (379) | (898) | (1,269) |
Borrowings [member] | Liabilities for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (921) | (1,225) | |
Profit (loss) | (47) | 304 | |
Ending balance | (968) | (921) | (1,225) |
Other [member] | Assets for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 1,447 | (501) | |
Profit (loss) | (1,420) | 1,948 | |
Ending balance | 27 | 1,447 | (501) |
Employee benefit [member] | Assets for deferred income tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 3,909 | 2,913 | |
Profit (loss) | (356) | (467) | |
Other comprehensive income (loss) | (2,298) | 1,463 | |
Ending balance | $ 1,255 | $ 3,909 | $ 2,913 |
Deferred income tax assets an_4
Deferred income tax assets and liabilities and income tax expense - Schedule of deferred tax assets and liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred income tax asset, net | $ 5,743 | $ 335 |
Deferred income tax liabilities, net | 383,128 | 243,411 |
Deferred income tax asset, net [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred income tax asset, net | 5,743 | 335 |
Deferred income tax liabilities, net [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred income tax asset, net | 5,743 | 335 |
Deferred income tax liabilities, net | $ 383,128 | $ 243,411 |
Deferred income tax assets an_5
Deferred income tax assets and liabilities and income tax expanse - Schedule of major componets of tax expense income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Major components of tax expense (income) [abstract] | |||
Current income tax | $ (16,393) | $ (92,089) | $ (62,419) |
Deferred income tax | (132,011) | (71,890) | (39,695) |
Income tax (expense) | (148,404) | (163,979) | (102,114) |
Deferred income tax charged to other comprehensive income | (2,298) | 1,463 | 2,048 |
Total income tax (expense) | $ (150,702) | $ (162,516) | $ (100,066) |
Deferred income tax assets an_6
Deferred income tax assets and liabilities and income tax expense - Schedule of Reconciliation of Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | ||||
Profit before income tax | $ 545,359 | $ 433,514 | $ 152,764 | |
Effective income tax rate | 30% | 30% | 30% | |
Income tax at the effective tax rate pursuant to effective tax regulations | $ (163,608) | $ (130,054) | $ (45,829) | |
Items that adjust the income tax (expense) / benefit: | ||||
Non-deductible expenses | (13,328) | (18,735) | (6,600) | |
Inflation adjustment | (146,077) | (153,517) | (98,348) | |
Effect of the measurement of monetary and non-monetary in their functional currency | 196,841 | 169,058 | 86,724 | |
Unrecognized tax losses and other assets | (7,156) | (15,568) | (4,047) | |
Effect of tax losses | [1] | 31,232 | ||
Effect related to statutory income tax rate change | [2] | (67,312) | ||
Difference in income tax estimate prior year | 1,695 | 6,358 | ||
Application of tax credits | 16,077 | 6,229 | 9,710 | |
Effect related to the difference in tax rate other than Mexican statutory rate | (34,317) | (25,762) | (7,637) | |
Other | 1,469 | (1,988) | (7) | |
Income tax (expense) | $ (148,404) | $ (163,979) | $ (102,114) | |
[1]For the year ended December 31, 2021, see Note 16.1.[2]For the year ended December 31, 2021, mainly include effects in Note 30.1. |
Deferred income tax assets an_7
Deferred income tax assets and liabilities and income tax expense - Summary of tax losses carryforwards (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Tax Losses Carryforwards [Line Items] | |||
Total tax loss | $ 194,689 | $ 129,209 | $ 77,801 |
2027 [member] | |||
Disclosure Of Tax Losses Carryforwards [Line Items] | |||
Total tax loss | 6,185 | 5,166 | 4,499 |
2028 [member] | |||
Disclosure Of Tax Losses Carryforwards [Line Items] | |||
Total tax loss | 72,643 | 60,727 | 51,618 |
2029 [Member] | |||
Disclosure Of Tax Losses Carryforwards [Line Items] | |||
Total tax loss | 32,126 | 27,113 | 13,781 |
2030 Onward [Member] | |||
Disclosure Of Tax Losses Carryforwards [Line Items] | |||
Total tax loss | $ 83,735 | $ 36,203 | $ 7,903 |
Deferred income tax assets an_8
Deferred income tax assets and liabilities and income tax expense - Schedule of breakdown of income tax liability (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Current | ||
Income tax, net of withholdings and prepayments | $ 3 | $ 58,770 |
Total current | $ 3 | $ 58,770 |
Deferred income tax assets an_9
Deferred income tax assets and liabilities and income tax expense - Additional Information (Detail) | 12 Months Ended | |||
Jan. 01, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statments [Line Items] | ||||
Percentage of adjustment for inflation be deducted or levied on current income tax | 100% | |||
Effective rate | 27% | 38% | 67% |
Trade and Other Receivables - A
Trade and Other Receivables - Additional information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Trade receivables [member] | ||
Trade And Other Receivables [Line Items] | ||
Set Off of trade receivables | $ 52 | $ 231 |
Trade and Other Receivables - T
Trade and Other Receivables - Tabular Disclosure of Trade and Other Receivables (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |
Prepayments, tax receivables and others: | |||
Receivables related to the transfer of conventional assets | [1] | $ 70,526 | $ 0 |
Midstream prepaid expenses | [2] | 34,660 | 0 |
Prepayments and other receivables | [3] | 27,414 | 13,630 |
Value Added Tax ("VAT") | 462 | 940 | |
Turnover tax | 5 | 493 | |
Prepayments And Other Taxes Receivable NonCurrent | 133,067 | 15,063 | |
Financial assets: | |||
Receivables from joint operations | 2,936 | 0 | |
Accounts receivable from third parties | 7,804 | 2,172 | |
Receivables from joint operations | 6,581 | 3,854 | |
Gas IV Plan (Note 2.5.3.1) | 1,245 | 3,772 | |
Advances to directors and loans to employees | 557 | 444 | |
Others | 197 | 828 | |
Current financial assets | 16,384 | 11,070 | |
Loans to employees | 348 | 801 | |
Non-current financial assets | 3,284 | 801 | |
Total non-current other receivables | 136,351 | 15,864 | |
Oil and gas accounts receivable (net of allowance of expected credit loss) | 59,787 | 38,978 | |
Trade receivables | 59,787 | 38,978 | |
Receivables related to the transfer of conventional assets | [1] | 86,043 | 0 |
Value Added Tax ("VAT") | 19,713 | 22,939 | |
Prepaid expenses and other receivables | 9,381 | 13,864 | |
Income tax | 13,409 | 2,921 | |
Turnover tax | 385 | 634 | |
Prepayments And Other Taxes Receivable Current | 128,931 | 40,358 | |
Other receivables | 145,315 | 51,428 | |
Total current trade and other receivables | $ 205,102 | $ 90,406 | |
[1]Related to the accounts receivable recognized as a result of the Transaction mentioned in Note 1.2.1.[2]Related to the Duplicar Plus Project implemented by Oleoductos del Valle S.A. (“Oldelval”) (Note 28.1 and 33)[3]As of December 31, 2023, includes 14,292 related to prepayment of leases. |
Trade and Other Receivables -_2
Trade and Other Receivables - Tabular Disclosure of Trade and Other Receivables (Parenthetical) (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Trade and other receivables [abstract] | |
Prepayment of leases | $ 14,292 |
Trade and Other Receivables - R
Trade and Other Receivables - Reconciliation of Changes in Allowance Account for Credit Losses (Detail) - Trade receivables [member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
Amounts at beginning of year | $ (231) | $ (406) |
Allowances for expected credit losses (Note 7) | 0 | 36 |
Foreign exchange differences | 179 | 139 |
Amounts at end of year | $ (52) | $ (231) |
Financial assets and liabilit_3
Financial assets and liabilities - Summary of classification of borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Noncurrent | ||
Borrowings | $ 554,832 | $ 477,601 |
Total noncurrent | 554,832 | 477,601 |
Current | ||
Borrowings | 61,223 | 71,731 |
Total Current | 61,223 | 71,731 |
Total Borrowings | 616,055 | 549,332 |
Borrowings [Member] | ||
Noncurrent | ||
Borrowings | 554,832 | 477,601 |
Total noncurrent | 554,832 | 477,601 |
Current | ||
Borrowings | 61,223 | 71,731 |
Total Current | $ 61,223 | $ 71,731 |
Financial assets and liabilit_4
Financial assets and liabilities - Summary of maturities of borrowings (excluding lease liabilities) and exposure to interest rates (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 616,055 | $ 549,332 |
Fixed interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 590,205 | 501,189 |
Variable interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 25,850 | 48,143 |
Less than 1 year [member] | Fixed interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 60,373 | 48,588 |
Less than 1 year [member] | Variable interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 850 | 23,143 |
From 1 to 2 years [member] | Fixed interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 81,900 | 154,895 |
From 1 to 2 years [member] | Variable interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 0 | 0 |
From 2 to 5 years [member] | Fixed interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 392,550 | 232,279 |
From 2 to 5 years [member] | Variable interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 25,000 | 25,000 |
Over 5 years [member] | Fixed interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 55,382 | 65,427 |
Over 5 years [member] | Variable interest [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 0 | $ 0 |
Financial assets and liabilit_5
Financial assets and liabilities - Summary of detailed information about borrowings (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | May 29, 2023 | |
Disclosure of detailed information about borrowings [line items] | |||
Carrying amount | $ 616,055 | $ 549,332 | |
US Dollar Variable Rate Borrowings Due July, 2018 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | July, 2018 | July, 2018 | |
Currency | USD | USD | |
Principal | $ 150,000 | $ 150,000 | |
Interest | Variable | Variable | |
Annual rate | LIBOR + 4.50% | LIBOR + 4.50% | |
Maturity date | July, 2023 | July, 2023 | |
Carrying amount | $ 0 | $ 69,121 | |
US Dollar Fixed Rate Borrowings Due July, 2018 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Principal | $ 150,000 | $ 150,000 | |
Interest | Fixed | Fixed | |
Annual rate | 8.00 | 8.00 | |
US Dollar Fixed Rate Borrowings Due January, 2021 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | January, 2021 | January, 2021 | |
Currency | USD | USD | |
Principal | $ 11,700 | $ 11,700 | |
Interest | Fixed | Fixed | |
Annual rate | 1.80 | 1.80 | |
Maturity date | January, 2026 | January, 2026 | |
Carrying amount | $ 68 | $ 68 | |
US Dollar Fixed Rate Borrowings Due July, 2021 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | July, 2021 | July, 2021 | |
Currency | USD | USD | |
Principal | $ 43,500 | $ 43,500 | |
Interest | Fixed | Fixed | |
Annual rate | 2.05 | 2.05 | |
Maturity date | July, 2026 | July, 2026 | |
Carrying amount | $ 79 | $ 79 | |
US Dollar Fixed Rate Borrowings Due January, 2022 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | January, 2022 | January, 2022 | |
Currency | USD | USD | |
Principal | $ 13,500 | $ 13,500 | |
Interest | Fixed | Fixed | |
Annual rate | 2.45 | 2.45 | |
Maturity date | January, 2027 | January, 2027 | |
Carrying amount | $ 28 | $ 28 | |
US Dollar Variable Rate Borrowings Due January, 2022 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | January, 2022 | January, 2022 | |
Currency | USD | USD | |
Principal | $ 25,000 | $ 25,000 | |
Interest | Variable | Variable | |
Annual rate | SOFR + 2.01% | SOFR + 2.01% | |
Maturity date | September, 2026 | September, 2026 | |
Carrying amount | $ 25,850 | $ 25,594 | |
US Dollar Negotiable obligation Fixed Rate Due February, 2020 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | February, 2020 | February, 2020 | |
Currency | USD | USD | |
Principal | $ 50,000 | $ 50,000 | |
Interest | Fixed | Fixed | |
Annual rate | 3.50 | ||
Maturity date | February, 2024 | February, 2024 | |
Carrying amount | $ 0 | $ 9,607 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due December, 2020 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | December, 2020 | December, 2020 | |
Currency | USD-linked | USD-linked | |
Principal | $ 10,000 | $ 10,000 | |
Interest | Fixed | Fixed | |
Annual rate | 3.24 | ||
Maturity date | December, 2024 | December, 2024 | |
Carrying amount | $ 9,997 | $ 9,968 | |
US Dollar Negotiable obligation Fixed Rate Due March, 2021 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | March, 2021 | March, 2021 | |
Currency | USD | USD | |
Principal | $ 42,371 | $ 42,371 | |
Interest | Fixed | Fixed | |
Annual rate | 4.25 | ||
Maturity date | March, 2024 | March, 2024 | |
Carrying amount | $ 0 | $ 42,200 | |
ARS Negotiable Obligation Fixed Rate Due March, 2021 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | March, 2021 | March, 2021 | |
Currency | ARS | ARS | |
Principal | $ 3,054,537 | $ 3,054,537 | |
Interest | Fixed | Fixed | |
Annual rate | 2.73 | ||
Maturity date | September, 2024 | September, 2024 | |
Carrying amount | $ 0 | $ 45,185 | |
ARS Negotiable obligation Fixed Rate Due June, 2021 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | June, 2021 | June, 2021 | |
Currency | ARS | ARS | |
Principal | $ 3,104,063 | $ 3,104,063 | |
Interest | Fixed | Fixed | |
Annual rate | 4.00 | ||
Maturity date | March, 2025 | March, 2025 | |
Carrying amount | $ 0 | $ 40,765 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due August, 2021 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | August, 2021 | August, 2021 | |
Currency | USD-linked | USD-linked | |
Principal | $ 9,230 | $ 9,230 | |
Interest | Fixed | Fixed | |
Annual rate | 3.48 | ||
Maturity date | August, 2025 | August, 2025 | |
Carrying amount | $ 9,231 | $ 9,214 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due August, 2021 One [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | August, 2021 | August, 2021 | |
Currency | USD-linked | USD-linked | |
Principal | $ 100,769 | $ 100,769 | |
Interest | Fixed | Fixed | |
Annual rate | 5.85 | ||
Maturity date | August, 2031 | August, 2031 | |
Carrying amount | $ 102,556 | $ 102,504 | |
US Dollar Negotiable Obligation Fixed Rate Due June, 2022 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | June, 2022 | June, 2022 | |
Currency | USD | USD | |
Principal | $ 43,500 | $ 43,500 | |
Interest | Fixed | Fixed | |
Annual rate | 6.00 | ||
Maturity date | August, 2024 | August, 2024 | |
Carrying amount | $ 43,458 | $ 43,211 | |
US Dollar Negotiable Obligation Fixed Rate Due November, 2022 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | November, 2022 | November, 2022 | |
Currency | USD | USD | |
Principal | $ 40,511 | $ 40,511 | |
Interest | Fixed | Fixed | |
Annual rate | 6.25 | ||
Maturity date | November, 2025 | November, 2025 | |
Carrying amount | $ 36,484 | $ 36,408 | |
US Dollar Negotiable Obligation Fixed Rate Due December, 2022 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | December, 2022 | December, 2022 | |
Currency | USD | USD | |
Principal | $ 13,500 | $ 13,500 | |
Interest | Fixed | Fixed | |
Annual rate | 4.00 | ||
Maturity date | January, 2025 | January, 2025 | |
Carrying amount | $ 13,476 | $ 13,413 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due December, 2022 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | December, 2022 | December, 2022 | |
Currency | USD-linked | USD-linked | |
Principal | $ 63,450 | $ 63,450 | |
Interest | Fixed | Fixed | |
Annual rate | 0.00 | 0.00 | |
Maturity date | June, 2026 | June, 2026 | |
Carrying amount | $ 63,231 | $ 63,079 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due May, 2023 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | May, 2023 | May, 2023 | |
Currency | USD-linked | USD-linked | |
Principal | $ 40,785 | $ 40,785 | $ 40,785 |
Interest | Fixed | Fixed | |
Annual rate | 0.00 | 0.00 | |
Maturity date | June, 2026 | June, 2026 | |
Carrying amount | $ 40,525 | $ 0 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due December, 2022 One [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | December, 2022 | December, 2022 | |
Currency | USD-linked | USD-linked | |
Principal | $ 39,118 | $ 39,118 | |
Interest | Fixed | Fixed | |
Annual rate | 0.00 | 0.00 | |
Maturity date | December, 2026 | December, 2026 | |
Carrying amount | $ 38,948 | $ 38,888 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due March, 2023 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | March, 2023 | March, 2023 | |
Currency | USD-linked | USD-linked | |
Principal | $ 118,542 | $ 118,542 | |
Interest | Fixed | Fixed | |
Annual rate | 0.00 | 0.00 | |
Maturity date | March, 2027 | March, 2027 | |
Carrying amount | $ 117,979 | $ 0 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due March, 2023 One [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | March, 2023 | March, 2023 | |
Currency | USD-linked | USD-linked | |
Principal | $ 16,458 | $ 16,458 | |
Interest | Fixed | Fixed | |
Annual rate | 1.00 | 1.00 | |
Maturity date | March, 2028 | March, 2028 | |
Carrying amount | $ 16,396 | $ 0 | |
US Dollar Negotiable Obligation Fixed Rate Due June, 2023 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | June, 2023 | June, 2023 | |
Currency | USD | USD | |
Principal | $ 13,500 | $ 13,500 | |
Interest | Fixed | Fixed | |
Annual rate | 4.50 | 4.50 | |
Maturity date | July, 2025 | July, 2025 | |
Carrying amount | $ 13,357 | $ 0 | |
US Dollar Linked Negotiable Obligation Fixed Rate Due August, 2023 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | August, 2023 | August, 2023 | |
Currency | USD-linked | USD-linked | |
Principal | $ 70,000 | $ 70,000 | |
Interest | Fixed | Fixed | |
Annual rate | 0.99 | 0.99 | |
Maturity date | August, 2028 | August, 2028 | |
Carrying amount | $ 69,749 | $ 0 | |
US Dollar Negotiable Obligation Fixed Rate Due December, 2023 [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Execution date | December, 2023 | December, 2023 | |
Currency | USD | USD | |
Principal | $ 14,669 | $ 14,669 | |
Interest | Fixed | Fixed | |
Annual rate | 5.00 | 5.00 | |
Maturity date | June, 2026 | June, 2026 | |
Carrying amount | $ 14,643 | $ 0 | |
Aggregate Borrowing [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Carrying amount | 590,030 | 454,442 | |
Aggregate Borrowing [Member] | Vista Argentina [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Carrying amount | $ 26,025 | $ 94,890 |
Financial assets and liabilit_6
Financial assets and liabilities - Summary of detailed information about borrowings (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||||
May 29, 2023 | Dec. 06, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [line items] | |||||
Loss for negotiable obligations | $ 819 | $ 819 | $ 2,515 | ||
Proceeds from borrowings | 318,169 | 128,788 | $ 358,093 | ||
Negotiable obligation Fixed Rate Due December2020 And Usdollar Negotiable Obligation Fixed Rate Due June2021 [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instrument repurchase amount | $ 68,787 | ||||
Debt instrument Repurchase of remaining principal amount | 7,852 | ||||
US Dollar Linked Negotiable Obligation Fixed Rate Due May, 2023 [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, face value | $ 40,785 | $ 40,785 | $ 40,785 | ||
Usdollar Negotiable Obligation Fixed Rate Due December 2022 Two [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, face value | 63,450 | ||||
Proceeds from borrowings | 60,935 | ||||
Loss on issuance of debt instruments. | $ 2,515 |
Financial assets and liabilit_7
Financial assets and liabilities - Summary of reconciliation of liabilities arising from financing activities (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Amounts at beginning of year | $ 549,332 | $ 610,973 | ||
Borrowings interest | 21,879 | 28,886 | $ 50,660 | |
Payment of borrowing cost | (1,779) | (1,670) | (3,326) | |
Payment of interest | (22,993) | (34,430) | (54,636) | |
Amortized cost | 1,810 | 2,365 | ||
Remeasurement in borrowings | 72,044 | 52,817 | 19,163 | |
Changes in foreign exchange rate | (111,727) | (45,821) | ||
Other financial expense | 819 | 2,515 | ||
Amounts at end of year | 616,055 | 549,332 | $ 610,973 | |
Term loan [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Proceeds from borrowings | [1] | 358,954 | 228,614 | |
Borrowings principal [member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Payment of interest | (22,993) | (34,430) | ||
Payment of principal | [1] | $ (252,284) | $ (294,917) | |
[1]As of December 31, 2023, borrowings received, and principal payments include 40,785 related to the ON swapping mentioned in Note 18.1. These transactions did not generate cash flows. As of December 31. 2022, borrowings received, and principal payments include 99,826 related to the ON swapping mentioned in Note 18.1. These transactions did not generate cash flows. |
Financial assets and liabilit_8
Financial assets and liabilities - Summary of reconciliation of liabilities arising from financing activities (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Noncash Financing Activity Notes Issued | $ 40,785 | $ 99,826 |
Financial Assets and liabilit_9
Financial Assets and liabilities - Summary of Financial Instruments by Category (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | $ 8,722 | $ 6,504 |
Current financial assets | 267,626 | 270,523 |
Lease liabilities | 35,600 | 20,644 |
Non-current financial liabilities | 590,432 | 498,245 |
Lease liabilities | 34,868 | 8,550 |
Current financial liabilities | 301,146 | 301,294 |
Financial assets/liabilities at amortized cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | 3,284 | 801 |
Current financial assets | 111,463 | 67,654 |
Lease liabilities | 35,600 | 20,644 |
Non-current financial liabilities | 590,432 | 498,245 |
Lease liabilities | 34,868 | 8,550 |
Current financial liabilities | 301,146 | 301,294 |
Financial assets/liabilities at fair value [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | 5,438 | 5,703 |
Current financial assets | 156,163 | 202,869 |
Non-current financial liabilities | 0 | 0 |
Current financial liabilities | 0 | 0 |
Borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial liabilities | 554,832 | 477,601 |
Current financial liabilities | 61,223 | 71,731 |
Borrowings [member] | Financial assets/liabilities at amortized cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial liabilities | 554,832 | 477,601 |
Current financial liabilities | 61,223 | 71,731 |
Trade and other payables [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Current financial liabilities | 205,055 | 221,013 |
Trade and other payables [member] | Financial assets/liabilities at amortized cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Current financial liabilities | 205,055 | 221,013 |
Trade and other receivables [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | 3,284 | 801 |
Current financial assets | 76,171 | 50,048 |
Trade and other receivables [member] | Financial assets/liabilities at amortized cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | 3,284 | 801 |
Current financial assets | 76,171 | 50,048 |
Cash banks and short term investments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Current financial assets | 191,455 | 220,475 |
Cash banks and short term investments [member] | Financial assets/liabilities at amortized cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Current financial assets | 35,292 | 17,606 |
Cash banks and short term investments [member] | Financial assets/liabilities at fair value [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Current financial assets | 156,163 | 202,869 |
Defined benefit asset's plan [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | 5,438 | 5,703 |
Defined benefit asset's plan [member] | Financial assets/liabilities at amortized cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | 0 | 0 |
Defined benefit asset's plan [member] | Financial assets/liabilities at fair value [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Non-current financial assets | $ 5,438 | $ 5,703 |
Financial Assets And Liabili_10
Financial Assets And Liabilities - Summary Of Sensitivity Analysis For Types Of Market Risk (Detail) - Market Risk [member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Government Bonds [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of reasonably possible increase in risk exposure that arises from contracts within scope of IFRS 17 | 10% | 10% |
Percentage of reasonably possible decrease in risk exposure that arises from contracts within scope of IFRS 17 | 10% | 10% |
Increase (decrease) in profit (loss) due to reasonably possible increase in risk exposure that arises from contracts within scope of IFRS 17 | $ 374 | $ 243 |
Increase (decrease) in profit (loss) due to reasonably possible decrease in risk exposure that arises from contracts within scope of IFRS 17 | $ (374) | $ (243) |
Mutual Funds [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Percentage of reasonably possible increase in risk exposure that arises from contracts within scope of IFRS 17 | 10% | 10% |
Percentage of reasonably possible decrease in risk exposure that arises from contracts within scope of IFRS 17 | 10% | 10% |
Increase (decrease) in profit (loss) due to reasonably possible increase in risk exposure that arises from contracts within scope of IFRS 17 | $ 15,243 | $ 20,044 |
Increase (decrease) in profit (loss) due to reasonably possible decrease in risk exposure that arises from contracts within scope of IFRS 17 | $ (15,243) | $ (20,044) |
Financial Assets And Liabili_11
Financial Assets And Liabilities - Summary of financial assets at fair value through profit or loss (Detail) - Argentina, Pesos - Currency risk [member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclousre of Detailed Information About Currency Risk [Line Items] | ||
Changes in exchange rate | 10% | 10% |
Effect on profit or loss | $ 658 | $ 22,938 |
Effect on profit or loss | (658) | (22,938) |
Effect on equity | 658 | 22,938 |
Effect on equity | $ (658) | $ (22,938) |
Financial Assets And Liabili_12
Financial Assets And Liabilities - Summary Of Detailed Information About Concentration Of Risk That Arises From Contracts Within Scope Of IFRS 17 (Detail) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Trafigura [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of Entitys Trade Receivables | 7% | 19% |
Raizen Argentina S.A. [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of Entitys Trade Receivables | 41% | 32% |
PEMEX [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of Entitys Trade Receivables | 21% | 18% |
Cinergia Chile S.p.a [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of Entitys Trade Receivables | 1% | 10% |
ENAP Refineras S.A. [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of Entitys Trade Receivables | 18% | |
Oil Market [Member] | Trafigura [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 16% | 26% |
Oil Market [Member] | Raizen Argentina S.A. [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 24% | 20% |
Oil Market [Member] | Trafigura Pte LTD [member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 16% | 21% |
Oil Market [Member] | Valero Marketing and Supply Company [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 10% | 8% |
Oil Market [Member] | Repsol Trading USA Corp. [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 10% | |
Natural Gas [Member] | Cinergia Chile S.p.a [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 30% | 22% |
Natural Gas [Member] | Rafael G Albanesi SA [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 6% | 8% |
Natural Gas [Member] | CAMMESA [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 8% | 7% |
Natural Gas [Member] | Generacin Mediterrnea S.A. [Member] | ||
Disclosure of detailed information about concentrations of risk that arises from contracts within scope of IFRS 17 [line items] | ||
Percentage of entity's revenue | 0% | 9% |
Financial Assets And Liabili_13
Financial Assets And Liabilities - Summary of Credit Risk Exposure (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 59,787 | $ 38,978 |
Trade receivables [member] | Gross carrying amount [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 59,839 | 39,209 |
Trade receivables [member] | Gross carrying amount [member] | Current [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 57,873 | 32,921 |
Trade receivables [member] | Gross carrying amount [member] | Later than three months [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,914 | 6,057 |
Trade receivables [member] | Gross carrying amount [member] | Later than three months and not later than one year [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 52 | 231 |
Trade receivables [member] | Expected Credit Loss [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (52) | (231) |
Trade receivables [member] | Expected Credit Loss [Member] | Later than three months and not later than one year [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (52) | $ (231) |
Financial Assets And Liabili_14
Financial Assets And Liabilities - Summary of managing liquidity risk (Detail) $ in Thousands | Dec. 31, 2023 USD ($) $ / USD | Dec. 31, 2022 USD ($) $ / USD |
Liquidity Index [Abstract] | ||
Current assets | $ 425,904 | $ 347,690 |
Current liabilities | $ 359,386 | $ 408,344 |
Liquidity index | $ / USD | 1.185 | 0.852 |
Financial Assets And Liabili_15
Financial Assets And Liabilities -Summary of contractual undiscounted cash flows of financial liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | $ 275,523 | $ 250,207 |
Borrowings | 616,055 | 549,332 |
Total | 891,578 | 799,539 |
Less than 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 239,923 | 229,563 |
Borrowings | 61,223 | 71,731 |
Total | 301,146 | 301,294 |
From 1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 11,898 | 5,147 |
Borrowings | 81,900 | 154,895 |
Total | 93,798 | 160,042 |
From 2 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 16,120 | 9,998 |
Borrowings | 417,550 | 257,279 |
Total | 433,670 | 267,277 |
Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 7,582 | 5,499 |
Borrowings | 55,382 | 65,427 |
Total | $ 62,964 | $ 70,926 |
Financial Assets and liabili_16
Financial Assets and liabilities - Summary of income, expenses, gains and losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about financial instruments [line items] | |||
Interest income | $ 1,235 | $ 809 | $ 65 |
Interest expense | (21,879) | (28,886) | (50,660) |
Amortized cost | (1,810) | (2,365) | (4,164) |
Changes in the fair value of Warrants | 19,437 | (30,350) | (2,182) |
Net changes in foreign exchange rate | 18,458 | 33,263 | 14,328 |
Discount of assets and liabilities at present value | 2,137 | (2,561) | (2,300) |
Changes in the fair value of financial assets | (17,599) | 5,061 | |
Interest expense on lease liabilities | (2,894) | (1,925) | (1,079) |
Discount for well plugging and abandonment | (2,387) | (2,444) | (2,546) |
Remeasurement in borrowings | (72,044) | (52,817) | (19,163) |
Other | (26,381) | 9,242 | 4,851 |
Financial results, net | (86,128) | (95,633) | (57,789) |
Financial assets/liabilities at amortized cost [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Interest income | 1,235 | 809 | 65 |
Interest expense | (21,879) | (28,886) | (50,660) |
Amortized cost | (1,810) | (2,365) | (4,164) |
Net changes in foreign exchange rate | 18,458 | 33,263 | 14,328 |
Discount of assets and liabilities at present value | 2,137 | (2,561) | (2,300) |
Interest expense on lease liabilities | (2,894) | (1,925) | (1,079) |
Discount for well plugging and abandonment | (2,387) | (2,444) | (2,546) |
Remeasurement in borrowings | (72,044) | (52,817) | (19,163) |
Other | (26,381) | 9,242 | 4,851 |
Financial results, net | (105,565) | (47,684) | (60,668) |
Financial assets/liabilities at fair value [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Changes in the fair value of Warrants | 19,437 | (30,350) | (2,182) |
Changes in the fair value of financial assets | (17,599) | 5,061 | |
Financial results, net | $ 19,437 | $ (47,949) | $ 2,879 |
Financial Assets and liabili_17
Financial Assets and liabilities - Summary of Fair value of the group's financial assets and financial liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at FVTPL | $ 161,601 | $ 208,572 |
Plan assets [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at FVTPL | 5,438 | 5,703 |
Short Term Investments [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at FVTPL | 156,163 | 202,869 |
Level 1 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at FVTPL | 161,601 | 208,572 |
Level 1 [member] | Plan assets [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at FVTPL | 5,438 | 5,703 |
Level 1 [member] | Short Term Investments [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at FVTPL | $ 156,163 | $ 202,869 |
Financial Assets and liabili_18
Financial Assets and liabilities - Summary of Reconciliation of Level 3 fair value measurements (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Total change in fair value of warrants: | ||
Balance | $ 1,193,919 | |
Warrants [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items] | ||
Balance | 2,544 | $ 362 |
Total change in fair value of warrants: | ||
Loss from changes in the fair value of warrants | 30,350 | 2,182 |
Other equity instruments | (32,894) | 0 |
Balance | $ 0 | $ 2,544 |
Financial Assets and liabili_19
Financial Assets and liabilities - Summary of Fair value of financial assets and financial liabilities that are not measured at fair value (but fair value disclosures are required) (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Borrowings [member] | Level 2 [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | $ 2 | $ 2 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | 616,055 | 549,332 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Borrowings [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | 616,055 | 549,332 |
Fair Value [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | 516,699 | 459,122 |
Fair Value [member] | Borrowings [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | $ 516,699 | $ 459,122 |
Financial Assets And Liabili_20
Financial Assets And Liabilities - Additional Information (Detail) - USD ($) | 12 Months Ended | |||||||||||
Oct. 04, 2022 | May 05, 2022 | Feb. 13, 2019 | Aug. 15, 2017 | Aug. 01, 2017 | Dec. 31, 2023 | Dec. 31, 2022 | Jul. 21, 2022 | Jun. 27, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Inflation wholesale price index | 814% | 300% | ||||||||||
Average interest rate | 100% | 57% | ||||||||||
Cashless exercises of warrant | [1] | $ 32,144,000 | ||||||||||
Number of shares outstanding | 3,215,483 | 95,355,432 | 88,406,480 | 88,629,879 | 87,851,288 | |||||||
Refinance debt period | 2 years | |||||||||||
Central Bank of Argentina [Member] | Communiqu A 7507, as supplemented [Member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Percentage of available foreign exchange market on principal due | 40% | |||||||||||
Percentage of remaining debt principal portion | 60% | |||||||||||
Central Bank of Argentina [Member] | Communiqu A 7532, as supplemented [Member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Minimum annual cap for payments to creditors | $ 100,000,000 | $ 50,000,000 | ||||||||||
USD | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
variable interest rate | 9.32% | 4.55% | ||||||||||
ARS | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
variable interest rate | 4% | 36.31% | ||||||||||
Fixed interest rate [member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Indebtedness subject to variable interest rates | 9% | |||||||||||
Market comparable prices [member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Percentage of argentine peso depreciated | 356% | 72% | ||||||||||
Series A warrants [member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Warrants issued | 5,000,000 | 65,000,000 | ||||||||||
Warrants issued, exercise price per share | $ 11.5 | $ 11.5 | ||||||||||
Proceeds From Issuance Of Warrants | $ 18,000 | |||||||||||
Series A warrants [member] | Sponsor [member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Warrants issued | 29,680,000 | |||||||||||
Warrants issued, exercise price per share | $ 11.5 | |||||||||||
Proceeds From Issuance Of Warrants | $ 14,840,000 | |||||||||||
Series A Shares [Member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Cashless exercises of warrant | $ 32,894,000 | |||||||||||
Shares issued on exercise of warrants | 3,215,483 | |||||||||||
Number of shares outstanding | 1,176,811 | 2,038,643 | ||||||||||
Notes Program [member] | ||||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||||
Total capital amount of debt securities | $ 800,000,000 | |||||||||||
[1]See Note 21.1. |
Inventories - Disclosure of Det
Inventories - Disclosure of Detailed Information About Inventory (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Inventory [Abstract] | ||
Materials and spare parts | $ 4,651 | $ 8,177 |
Crude oil stock (Note 6.2) | 2,664 | 4,722 |
Assigned crude oil stock | 234 | 0 |
Total inventories | $ 7,549 | $ 12,899 |
Cash, bank balances and other_3
Cash, bank balances and other short-term investments - Disclosure of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and cash equivalents [abstract] | ||||
Mutual funds | $ 152,426 | $ 202,165 | ||
Money market funds | 35,292 | 15,881 | ||
Cash in banks | 21,798 | 23,910 | ||
Government bonds | 3,737 | 2,429 | ||
Total cash, bank balances and other short-term investments | 213,253 | 244,385 | ||
Cash, bank balances and other short-term investments | 213,253 | 244,385 | ||
Government bonds | (3,737) | (2,429) | ||
Cash and cash equivalents | $ 209,516 | $ 241,956 | $ 311,217 | $ 201,314 |
Capital stock and capital ris_3
Capital stock and capital risk management - Summary of detailed information about changes in equity (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 14, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning Balance | $ 517,873 | $ 586,706 | $ 659,400 | |
Number of shares | 88,406,480 | 88,629,879 | 87,851,288 | |
Series A shares to be granted in LTIP | $ 1 | |||
Number of shares | 778,591 | |||
Number of shares | 2,038,643 | |||
Reduction of capital stock | $ (72,695) | $ (39,530) | $ (72,695) | |
Number of shares | 1,176,811 | |||
Number of shares | 972,121 | |||
Series A shares granted for the LTIP | $ 1 | $ 1 | ||
Number of shares | 5,772,141 | |||
Share repurchase | $ (29,304) | |||
Number of shares repurchased | (3,234,163) | |||
Ending Balance | $ 517,874 | $ 517,873 | $ 586,706 | |
Number of shares | 95,355,432 | 88,406,480 | 88,629,879 | |
Series C common shares [member] | ||||
Number of shares | 2 | 2 | 2 | |
Number of shares | 2 | 2 | 2 | |
Series A common shares [member] | ||||
Beginning Balance | $ 517,873 | $ 586,706 | $ 659,400 | |
Number of shares | 88,406,478 | 88,629,877 | 87,851,286 | |
Series A shares to be granted in LTIP | $ 1 | |||
Number of shares | 778,591 | |||
Number of shares | 2,038,643 | |||
Reduction of capital stock | $ (39,530) | $ (72,695) | ||
Number of shares | 1,176,811 | |||
Number of shares | 972,121 | |||
Series A shares granted for the LTIP | $ 1 | $ 1 | ||
Number of shares | 5,772,141 | |||
Share repurchase | $ (29,304) | |||
Number of shares repurchased | (3,234,163) | |||
Ending Balance | $ 517,874 | $ 517,873 | $ 586,706 | |
Number of shares | 95,355,430 | 88,406,478 | 88,629,877 |
Capital stock and capital ris_4
Capital stock and capital risk management - Summary of financial leverage ratios (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Leverage Ratio [Abstract] | ||||
Total borrowings and lease liabilities | $ 686,523 | $ 578,526 | ||
Less: Cash, bank balances and other short-term investments | (213,253) | (244,385) | ||
Net debt | 473,270 | 334,141 | ||
Total equity | $ 1,247,015 | $ 844,060 | $ 565,259 | $ 508,518 |
Leverage ratio | 37.95% | 40% |
Capital stock and capital ris_5
Capital stock and capital risk management - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||||||||
Oct. 04, 2022 | Dec. 14, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Apr. 24, 2023 | Dec. 07, 2022 | Sep. 27, 2022 | Apr. 26, 2022 | Dec. 31, 2020 | |
Number of shares outstanding | 3,215,483 | 95,355,432 | 88,406,480 | 88,629,879 | 87,851,288 | |||||
Reduction of issued capital | $ 72,695 | $ 39,530 | $ 72,695 | |||||||
Common Stock, Conversion Basis | to obtain 1 Series A share representative of the capital stock of the Company for each 31 Warrants owned | |||||||||
Creation of a fund to acquire own shares | $ 29,859 | $ 25,625 | $ 23,840 | |||||||
Increase (Decrease) Through Number Of Shares Repurchased Equity | 3,234,163 | |||||||||
Increase (Decrease) Through Share Repurchase, Equity | $ (29,304) | |||||||||
Legal reserve | $ 101 | $ 171 | $ 5,630 | $ 1,348 | $ 1,255 | |||||
Percentage of legal reserve to share capital | 20% | 20% | 20% | |||||||
Bottom of range [member] | ||||||||||
Percentage of profit allocated to legal reserve | 5% | |||||||||
Treasury shares [member] | ||||||||||
Number of shares outstanding | 33,436,809 | 40,385,761 | ||||||||
Series A common shares [member] | ||||||||||
Shares issued | 1,176,811 | 2,038,643 | ||||||||
Number of shares approved for incentive plans | 5,772,141 | 972,121 | 39,530 | |||||||
Number of shares outstanding | 95,355,430 | 88,406,478 | 88,629,877 | 87,851,286 | ||||||
Reduction of issued capital | $ 39,530 | $ 72,695 | ||||||||
Increase (Decrease) Through Number Of Shares Repurchased Equity | 3,234,163 | |||||||||
Increase (Decrease) Through Share Repurchase, Equity | $ (29,304) |
Provisions - Summary of classif
Provisions - Summary of classification of provisions (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other provisions [line items] | ||
Non-Current | $ 12,339 | $ 31,668 |
Current | 4,133 | 2,848 |
Well plugging and abandonment [Member] | ||
Disclosure of other provisions [line items] | ||
Non-Current | 12,191 | 31,389 |
Current | 3,096 | 1,135 |
Environmental remediation [member] | ||
Disclosure of other provisions [line items] | ||
Non-Current | 148 | 279 |
Current | 936 | 1,542 |
Contingencies [Member] | ||
Disclosure of other provisions [line items] | ||
Current | $ 101 | $ 171 |
Provisions - Summary of movemen
Provisions - Summary of movements in provision (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other provisions [line items] | |||
Discount for well plugging and abandonment | $ 2,387 | $ 2,444 | $ 2,546 |
Asset retirement obligation [member] | |||
Disclosure of other provisions [line items] | |||
Amounts at beginning of year | 32,524 | 30,796 | |
Discount for well plugging and abandonment | 2,387 | 2,444 | |
(Decrease) in the change in capitalized estimates (Note 13) | (930) | (713) | |
(Decrease) in the change in estimates of conventional assets | (18,697) | 0 | |
Foreign exchange differences | 3 | (3) | |
Amounts at end of year | 15,287 | 32,524 | 30,796 |
Environmental remediation [member] | |||
Disclosure of other provisions [line items] | |||
Amounts at beginning of year | 1,821 | 1,599 | |
Foreign exchange differences | (1,846) | (1,911) | |
Increases (Note 10.2) | 485 | 2,133 | |
Increase in the change in estimates of conventional assets | 624 | 0 | |
Amounts at end of year | 1,084 | 1,821 | 1,599 |
Provisions for contingencies [member] | |||
Disclosure of other provisions [line items] | |||
Amounts at beginning of year | 171 | 142 | |
Foreign exchange differences | (93) | (43) | |
Increases (Note 10.2) | 69 | 379 | |
Amounts incurred due to utilization | (46) | (307) | |
Amounts at end of year | $ 101 | $ 171 | $ 142 |
Provisions - Summary of movem_2
Provisions - Summary of movements in provision (Parenthetical) (Detail) | Dec. 31, 2023 |
Asset Retirement Obligation [Member] | |
Disclosure of other provisions [line items] | |
Percentage of the concessions owned | 100% |
Environmental Remediation [Member] | |
Disclosure of other provisions [line items] | |
Percentage of the concessions owned | 100% |
Provisions - Additional informa
Provisions - Additional information (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Apr. 24, 2023 | Dec. 31, 2022 | Dec. 07, 2022 | Apr. 26, 2022 |
Disclosure of other provisions [line items] | |||||
Total claims and legal actions in aggregate claimed amount | $ 101 | $ 171 | |||
Estimate of probable loss | $ 101 | $ 5,630 | $ 171 | $ 1,348 | $ 1,255 |
Bottom of range [member] | |||||
Disclosure of other provisions [line items] | |||||
Discount rate used in calculation of provision | 4.40% | 8.54% | |||
Top of range [member] | |||||
Disclosure of other provisions [line items] | |||||
Discount rate used in calculation of provision | 11.09% | 11.13% |
Employee benefits - Summary of
Employee benefits - Summary of employee benefit costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of information about defined benefit plans [abstract] | |||
Cost of services | $ (25) | $ (44) | $ (28) |
Cost of interest | (639) | (458) | (219) |
Settlement | 364 | 0 | 0 |
Total | $ (300) | $ (502) | $ (247) |
Employee benefits - Summary o_2
Employee benefits - Summary of obligations for defined benefit plans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Amounts at beginning of year | $ (12,251) | $ (7,822) | |
Items classified as loss or profit | |||
Cost of services | (25) | (44) | $ (28) |
Cost of interest | (639) | (458) | (219) |
Settlement | 364 | 0 | 0 |
Items classified in other comprehensive income | |||
Actuarial remeasurement gain (losses) | 6,565 | (4,181) | |
Benefit payments | 0 | 0 | |
Payment of contributions | 283 | 254 | |
Amounts at end of year | (5,703) | (12,251) | (7,822) |
Present value of the obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Amounts at beginning of year | (19,009) | (15,416) | |
Items classified as loss or profit | |||
Cost of services | (25) | (44) | |
Cost of interest | (909) | (806) | |
Settlement | 364 | ||
Items classified in other comprehensive income | |||
Actuarial remeasurement gain (losses) | 6,213 | (3,911) | |
Benefit payments | 777 | 1,168 | |
Payment of contributions | 1,294 | 0 | |
Amounts at end of year | (11,295) | (19,009) | (15,416) |
Fair value of plan assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Amounts at beginning of year | 6,758 | 7,594 | |
Items classified as loss or profit | |||
Cost of services | 0 | 0 | |
Cost of interest | 270 | 348 | |
Settlement | 0 | ||
Items classified in other comprehensive income | |||
Actuarial remeasurement gain (losses) | 352 | (270) | |
Benefit payments | (777) | (1,168) | |
Payment of contributions | (1,011) | 254 | |
Amounts at end of year | $ 5,592 | $ 6,758 | $ 7,594 |
Employee benefits - Summary o_3
Employee benefits - Summary of fair value of plan assets (Detail) - Plan assets [member] - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Debt instruments categorized by issuers' credit rating: | ||
US government bonds | $ 5,438 | $ 5,703 |
Cash and cash equivalents | 154 | 1,055 |
Total | $ 5,592 | $ 6,758 |
Employee benefits - Summary o_4
Employee benefits - Summary of estimated expected benefits payments (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Less than 1 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 974 | $ 1,562 |
1 to 2 years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 974 | 1,538 |
2 to 3 years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 963 | 1,542 |
3 to 4 years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 946 | 1,526 |
4 to 5 years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | 925 | 1,506 |
6 to 10 years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 4,242 | $ 7,113 |
Employee benefits - Summary o_5
Employee benefits - Summary of significant actuarial assumptions used (Detail) | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of defined benefit plans [line items] | ||
Discount rate | 5% | 5% |
Asset rate of return | 5% | 5% |
Salary rise | 1% | 1% |
Employee benefits - Additional
Employee benefits - Additional information (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Actuarial assumption of discount rates [member] | ||
Disclosure of defined benefit plans [line items] | ||
Percentage of increase in actuarial assumption | 1% | 1% |
Percentage of decrease in actuarial assumption | 1% | 1% |
Amount of decrease in defined benefit obligation due to increase in actuarial assumption | $ 888 | $ 1,560 |
Amount of increase in defined benefit obligation due to decrease in actuarial assumption | $ 1,034 | $ 1,828 |
Actuarial assumption of expected rates of salary increases [member] | ||
Disclosure of defined benefit plans [line items] | ||
Percentage of increase in actuarial assumption | 1% | 1% |
Percentage of decrease in actuarial assumption | 1% | 1% |
Amount of decrease in defined benefit obligation due to increase in actuarial assumption | $ 9 | $ 79 |
Amount of increase in defined benefit obligation due to decrease in actuarial assumption | $ 9 | $ 82 |
Salaries and payroll taxes - Su
Salaries and payroll taxes - Summary of salaries and payroll taxes (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of information about defined benefit plans [abstract] | ||
Provision for bonuses and incentives | $ 12,657 | $ 17,599 |
Salaries and social security contributions | 4,898 | 7,521 |
Total current salaries and payroll taxes | $ 17,555 | $ 25,120 |
Other taxes and royalties - S
Other taxes and royalties - Summary of other taxes and royalties (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Other Liabilities [Abstract] | ||
Royalties and others | $ 33,862 | $ 12,642 |
Tax withholdings | 1,603 | 7,205 |
Other | 1,084 | 465 |
Total current other taxes and royalties | $ 36,549 | $ 20,312 |
Trade and other payables- Summa
Trade and other payables- Summary of trade and other payables (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Accounts payable: | ||
Suppliers | $ 204,696 | $ 196,484 |
Total current accounts payables | 204,696 | 196,484 |
Other accounts payables: | ||
Payables to partners of joint operations | 197 | 23,880 |
Extraordinary fee for Gas IV Plan | 162 | 488 |
Payables to third parties | 0 | 161 |
Total other current accounts payables | 359 | 24,529 |
Total current trade and other payables | $ 205,055 | $ 221,013 |
Trade and other payables- Sum_2
Trade and other payables- Summary of trade and other payables (Parenthetical) (Detail) | Dec. 31, 2023 |
Statement [Line Items] | |
Percentage of operating working interest | 50 |
Related parties' transactions_3
Related parties' transactions and balances - Summary of key management personnel remuneration (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of transactions between related parties [line items] | |||
Share-based payment transactions | $ 18,618 | $ 13,119 | $ 8,875 |
Short-term benefits | 13,959 | 12,990 | 11,626 |
Total compensation paid to key personnel | $ 32,577 | $ 26,109 | $ 20,501 |
Related parties' transactions_4
Related parties' transactions and balances - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of transactions between related parties [line items] | ||
Amounts receivable, related party transactions | $ 0 | $ 0 |
Commitments and contingencies -
Commitments and contingencies - Additional information (Detail) $ in Thousands | 12 Months Ended | ||
May 16, 2023 | Jan. 27, 2023 USD ($) m³ | Dec. 31, 2023 USD ($) m³ | |
Disclosure of other provisions [line items] | |||
Upfront Investment | $ | $ 118,000 | ||
Settlement of liabilities on behalf of entity by related party, related party transactions | $ | 34,660 | ||
Purchase of investments | $ | $ 28,400 | ||
Vista Argentina [Member] | |||
Disclosure of other provisions [line items] | |||
Storage Capacity | 35,666 | ||
Dispatch Capacity | 5,944 | ||
Cumulative Payment Made | $ | $ 20,089 | ||
Oiltanking Ebytem S.A [Member] | |||
Disclosure of other provisions [line items] | |||
Storage Capacity | 300,000 | ||
Dispatch Capacity | 50,000 | ||
Oleoductos del Valle S.A [Member] | |||
Disclosure of other provisions [line items] | |||
Number of cubic meter per day | 50,000 | ||
Equinor [Member] | |||
Disclosure of other provisions [line items] | |||
Proportion of transport concession | 3.50% | ||
Shell And Vista [Member] | |||
Disclosure of other provisions [line items] | |||
Proportion of transport concession | 13.30% | ||
Vista Argentina [Member] | |||
Disclosure of other provisions [line items] | |||
Proportion of transport concession | 8% | ||
Vista Argentina [Member] | |||
Disclosure of other provisions [line items] | |||
Number of cubic meter per day | 5,010 |
Operations in hydrocarbon con_3
Operations in hydrocarbon consortiums - Additional information (Detail) $ in Thousands | 12 Months Ended | ||||||||||||||||||
Oct. 11, 2022 | Apr. 30, 2022 USD ($) | Jan. 17, 2022 USD ($) | Sep. 16, 2021 | Jun. 28, 2021 | Jun. 24, 2021 | Mar. 21, 2021 | Nov. 29, 2019 | Dec. 21, 2018 USD ($) | Aug. 22, 2018 USD ($) | Jul. 11, 2016 | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 | Mar. 31, 2025 USD ($) | Mar. 31, 2024 USD ($) | Feb. 23, 2023 USD ($) | Feb. 15, 2023 USD ($) | |
Statement [Line Items] | |||||||||||||||||||
Concession term | 2023 years | ||||||||||||||||||
Royalties percentage | 12% | ||||||||||||||||||
Cash | $ 10,000 | $ 5,734 | $ 10,734 | $ 26,468 | $ 10,000 | ||||||||||||||
Addition proportion of ownership interest in subsidiary | 50 | ||||||||||||||||||
Aguada Federal and Bandurria Norte [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Notional amount | $ 77,000 | ||||||||||||||||||
Acquisitions through business combinations, property, plant and equipment | $ 68,743 | ||||||||||||||||||
Wintershall [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Percenatge Of Investments Costs | 50% | ||||||||||||||||||
Notional amount | $ 77,000 | ||||||||||||||||||
AFBN [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Consideration paid (received) | $ 140,000 | ||||||||||||||||||
Down Payment | $ 90,000 | ||||||||||||||||||
Installment | $ 50,000 | 25,000 | $ 115,000 | ||||||||||||||||
Cash | 6,203 | ||||||||||||||||||
Oil and gas assets | $ 69,693 | ||||||||||||||||||
Trafigura [Member] | Farmout agreement [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Disposals, property, plant and equipment | 11,784 | ||||||||||||||||||
Trafigura [Member] | Farmout agreement [Member] | Tranche One [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Proceeds From Joint Venture Agreement | 15,000 | ||||||||||||||||||
Trafigura [Member] | Farmout agreement [Member] | Tranche Two [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Proceeds From Joint Venture Agreement | 9,788 | ||||||||||||||||||
Trafigura [Member] | Farmout agreement I [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Consideration paid (received) | 25,000 | ||||||||||||||||||
Down Payment | 5,000 | ||||||||||||||||||
Installment | 5,000 | ||||||||||||||||||
Trafigura [Member] | Farmout agreement II [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Percentage Of Contractual Rights | 25 | ||||||||||||||||||
Consideration paid (received) | 20,400 | ||||||||||||||||||
Installment | $ 6,800 | ||||||||||||||||||
Percentage Of Investment Costs | 25 | ||||||||||||||||||
Bottom of range [member] | Carry Petrolero [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 55% | ||||||||||||||||||
Top of range [member] | Carry Petrolero [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 84.62% | ||||||||||||||||||
Vista Argentina [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Percenatge Of Investments Costs | 20% | ||||||||||||||||||
Percentage Of Contractual Rights | 20 | ||||||||||||||||||
Shell And Vista [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Capital contribution | $ 10,000 | ||||||||||||||||||
Petrolera El Trbol SA [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 79.05% | ||||||||||||||||||
Bajada del Palo [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Concession term | 35 years | ||||||||||||||||||
Royalties percentage | 12% | ||||||||||||||||||
Operating bonus payable | $ 1,168 | ||||||||||||||||||
Infrastructure bonus payable | 2,796 | ||||||||||||||||||
Corporate Social Responsibility | 3,935 | ||||||||||||||||||
Payment of stamp tax | $ 1,102 | ||||||||||||||||||
Percentage Of Ownership | 100% | ||||||||||||||||||
Coirn Amargo Norte [Member] | Vista Argentina [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 61.11% | ||||||||||||||||||
Incremental participation percentage | 6.11% | ||||||||||||||||||
Coirn Amargo Norte [Member] | Gas y Petrleo de Neuqun SA [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 45% | ||||||||||||||||||
Coirn Amargo Norte [Member] | OG Developments Ltd [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 10% | ||||||||||||||||||
Coirn Amargo Norte [Member] | APCO Oil and Gas International Inc SucArg [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 45% | ||||||||||||||||||
Acambuco [Member] | Vista Argentina [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 1.50% | ||||||||||||||||||
Acambuco [Member] | Pan American Energy LLC [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 52% | ||||||||||||||||||
Acambuco [Member] | YPF SA [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 22.50% | ||||||||||||||||||
Acambuco [Member] | WPX Energy [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 1.50% | ||||||||||||||||||
Acambuco [Member] | Shell Argentina S A [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 22.50% | ||||||||||||||||||
Coirn Amargo Sur Oeste [Member] | Vista Argentina [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 10% | 10% | |||||||||||||||||
Coirn Amargo Sur Oeste [Member] | OG Developments Ltd [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage exchanged | 35% | ||||||||||||||||||
Aguila Mora [Member] | Vista Argentina [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 90% | ||||||||||||||||||
Ownership percentage exchanged | 90% | ||||||||||||||||||
Aguila Mora [Member] | Gas y Petrleo de Neuqun SA [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Concession term | 35 years | ||||||||||||||||||
Successive periods | 10 years | ||||||||||||||||||
Sur Rio Deseado Este [Member] | Vista Argentina [member] | Alianza Petrolera SA [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 16.94% | ||||||||||||||||||
Sur Rio Deseado Este [Member] | SECRA SA [Member] | Alianza Petrolera SA [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 4% | ||||||||||||||||||
Coiron Amargo [Member] | Vista Argentina [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 55% | ||||||||||||||||||
Coiron Amargo [Member] | Madalena Energy Argentina SRL [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 35% | ||||||||||||||||||
Coiron Amargo [Member] | Gas y Petrleo de Neuqun SA [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 10% | ||||||||||||||||||
Aguada Federal [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Ownership percentage | 100% | ||||||||||||||||||
Percentage Of Non operated Interest | 50% | ||||||||||||||||||
Aguada Federal [Member] | Non operating interest [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Percentage Of Non operated Interest | 50% | ||||||||||||||||||
ELO [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Estimate cost to fulfil the commitment | $ 4,400 | ||||||||||||||||||
25 de Mayo-Medanito SE and Jagüel de los Machos [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Estimate cost to fulfil the commitment | $ 7,600 | ||||||||||||||||||
Bandurria Norte and Aguada Federal [Member] | Operating Interest [member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Percentage Of Non operated Interest | 50% | ||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | ||||||||||||||||||
CS ZeroOne [Member] | Jaguar and Pantera [Member] | Transfer Of Working Interest In CASO [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Percentage Of Non operated Interest | 50% | ||||||||||||||||||
TMZeroOneMember And AZeroOne [Member] | Jaguar and Pantera [Member] | Transfer Of Working Interest In CASO [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Percentage Of Non operated Interest | 50% | ||||||||||||||||||
Mexico Blocks CS Zero One [Member] | Transfer Of Working Interest In CASO [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Consideration paid (received) | 850 | ||||||||||||||||||
Other operating income (expense) | 198 | ||||||||||||||||||
Mexico Blocks CS Zero One [Member] | Jaguar and Pantera [Member] | Transfer Of Working Interest In CASO [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Consideration paid (received) | 5,501 | ||||||||||||||||||
Disposals, property, plant and equipment | 5,126 | ||||||||||||||||||
Other intangible assets | $ 673 | ||||||||||||||||||
ELO [Member] | |||||||||||||||||||
Statement [Line Items] | |||||||||||||||||||
Estimate cost to fulfil the commitment | $ 3,000 |
Operations in hydrocarbon con_4
Operations in hydrocarbon consortiums - Summary of financial information of joint operation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Assets | |||
Non-current assets | $ 2,172,099 | $ 1,690,289 | $ 1,308,688 |
Current assets | 425,904 | 347,690 | |
Liabilities | |||
Non-current liabilities | 991,602 | 785,575 | |
Current liabilities | 359,386 | 408,344 | |
Operating costs | (94,685) | (133,385) | (107,123) |
Depreciation, depletion and amortization | (276,430) | (234,862) | (191,313) |
General and administrative expenses | (70,483) | (63,826) | (45,858) |
Exploration expenses | (16) | (736) | (561) |
Financial results, net | (86,128) | (95,633) | (57,789) |
Group And Vista Argentina [Member] | |||
Assets | |||
Non-current assets | 344,411 | 252,073 | |
Current assets | 878 | 13,702 | |
Liabilities | |||
Non-current liabilities | 1,801 | 1,256 | |
Current liabilities | 11,860 | 55,106 | |
Revenue from contracts with customers | 0 | 0 | 3,200 |
Operating costs | (1,687) | (943) | (4,406) |
Depreciation, depletion and amortization | (78,860) | (43,139) | (3,626) |
General and administrative expenses | (846) | (568) | (1,242) |
Exploration expenses | 0 | 0 | (446) |
Other operating income and expenses | 0 | 2 | (8,076) |
Impairment of long -lived assets | (1,679) | 0 | 0 |
Financial results, net | 1,561 | 2,484 | (586) |
Total costs and expenses for the period/year | $ (81,511) | $ (42,164) | $ (15,182) |
Tax regulations - Additional In
Tax regulations - Additional Information (Detail) $ in Thousands, $ in Thousands | 12 Months Ended | ||||||||
Dec. 13, 2023 | Jul. 24, 2023 | Dec. 31, 2023 USD ($) | Dec. 31, 2023 ARS ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 ARS ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 ARS ($) | Dec. 31, 2019 | |
Statement [Line Items] | |||||||||
Income tax rate | 30% | 30% | 30% | 30% | 30% | 30% | |||
Deductible interest | $ 20,000 | ||||||||
Tax expense (income) at applicable tax rate | $ 163,608 | $ 130,054 | $ 45,829 | ||||||
Capital commitments | $ 30,000,000 | ||||||||
Subsidiaries [member] | |||||||||
Statement [Line Items] | |||||||||
Income tax rate | 35% | 35% | 35% | 35% | 35% | 35% | |||
AFBN S.R.L [Member] | |||||||||
Statement [Line Items] | |||||||||
Income taxes paid (refund), classified as operating activities | $ 979 | ||||||||
General Resolution No. 5,248/2022 [Member] | |||||||||
Statement [Line Items] | |||||||||
Income tax rate | 25% | 25% | |||||||
Tax expense (income) at applicable tax rate | $ 100,000,000 | ||||||||
Income tax paid under consecutive installments | $ 8,300 | ||||||||
General Resolution No. 5,391/2023 [Member] | |||||||||
Statement [Line Items] | |||||||||
Income tax rate | 15% | 15% | |||||||
Tax expense (income) at applicable tax rate | $ 600,000,000 | ||||||||
General Resolution No. 5,453/2023 [Member] | |||||||||
Statement [Line Items] | |||||||||
Income tax rate | 15% | 15% | |||||||
Tax expense (income) at applicable tax rate | $ 600,000,000 | ||||||||
Income tax paid under consecutive installments | $ 3,031 | ||||||||
PAIS [Member] | |||||||||
Statement [Line Items] | |||||||||
Emergency tax rate | 30% | ||||||||
Tax term | 5 years | ||||||||
Mexico [member] | |||||||||
Statement [Line Items] | |||||||||
Income tax rate | 30% | 30% | |||||||
Import of Goods and Freight [Member] | |||||||||
Statement [Line Items] | |||||||||
Tax rate effect of foreign tax rates | 17.50% | 7.50% | |||||||
Import of Service [Member] | |||||||||
Statement [Line Items] | |||||||||
Tax rate effect of import tax rates | 25% | ||||||||
Forecast [Member] | |||||||||
Statement [Line Items] | |||||||||
Income tax rate | 7% |
Share-based payments - Summary
Share-based payments - Summary of number and weighted average exercise prices (WAEP) of, and movements in, share options (Detail) | 12 Months Ended | |||
Dec. 31, 2023 shares $ / shares | Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / USD $ / shares | ||
Disclosure Of Number And Weighted Average Exercise Price Of Share Options [Abstract] | ||||
Outstanding as of beginning of period/year | 10,540,228 | 9,124,109 | 5,668,825 | |
Granted during the period/year | shares | 513,379 | 1,416,119 | 3,455,284 | |
Cancelled during the year | [1] | (1,188,362) | 0 | 0 |
At the end of the period/year | shares | 9,865,245 | 10,540,228 | 9,124,109 | |
Outstanding as of beginning of period/year | $ 5.15 | $ 4.85 | $ 6.07 | |
Granted during the period/year | 17.83 | 7.05 | 2.85 | |
Cancelled during the year | [1] | 3.68 | 0 | 0 |
At the end of the period/year | $ 5.98 | $ 5.15 | $ 4.85 | |
[1]Related to stock options annulled or cancelled for the year, which do not necessarily coincide with the options exercised. |
Share-based payments - Summar_2
Share-based payments - Summary of valuation assumptions of stock option plan (Detail) | 12 Months Ended | ||
Dec. 31, 2023 shares $ / shares | Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / shares | |
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [Abstract] | |||
Dividend yield (%) | 0% | 0% | 0% |
Expected volatility (%) | 31.40% | 33.50% | 34% |
Risk–free interest rate (%) | 3.90% | 1.90% | 1.40% |
Expected life of share options (years) | shares | 10 | 10 | 10 |
Weighted average excercise price | $ / shares | $ 17.83 | $ 7.05 | $ 2.85 |
Model used | Black & Scholes | Black & Scholes | Black & Scholes |
Share-based payments - Summar_3
Share-based payments - Summary of number and weighted average exercise prices (WAEP) of, and movements in, restricted stock (Detail) | 12 Months Ended | |||
Dec. 31, 2023 shares $ / shares | Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / USD $ / shares | ||
Restricted Stock [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Outstanding as of beginning of period/year | 6,669,790 | 5,762,338 | 3,769,299 | |
Granted during the period/year | shares | 519,025 | 940,215 | 1,993,039 | |
Cancelled during the year | [1] | (555,451) | (32,763) | 0 |
At the end of the period/year | shares | 6,633,364 | 6,669,790 | 5,762,338 | |
Outstanding as of beginning of period/year | $ 4.89 | $ 4.53 | $ 5.41 | |
Granted during the period/year | 17.83 | 7.05 | 2.85 | |
Cancelled during the year | [1] | 2.13 | 2.95 | 0 |
At the end of the period/year | $ 6.18 | $ 4.89 | $ 4.53 | |
Performance Restricted Stock [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Outstanding as of beginning of period/year | shares | 3,705,757 | 0 | ||
Granted during the period/year | shares | 1,417,589 | 3,705,757 | ||
At the end of the period/year | shares | 5,123,346 | 3,705,757 | 0 | |
Outstanding as of beginning of period/year | $ 7.05 | $ 0 | ||
Granted during the period/year | 17.83 | 7.05 | ||
At the end of the period/year | $ 10.03 | $ 7.05 | $ 0 | |
[1]Related to restricted stock annulled or cancelled for the year, which do not necessarily coincide with the restricted stock vested. |
Share-based payments - Addition
Share-based payments - Additional Informtaion (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 22, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighted average fair value of options granted | $ 8,990 | $ 3,260 | $ 1,200 | |
Share based payments, compensation expense | $ 23,133,000 | 16,576,000 | 10,592,000 | |
Stock options [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Description of vesting requirements of options granted | Stock options will be vested as follows: (i) 33% during the first year; (ii) 33% during the second year, and (iii) 34% during the third year in relation to the date in which stock options are granted to participants. | |||
Description of maximum term of options granted | Once acquired, stock options may be exercised up to 5 (five) or 10 (ten) years as from grant date. | |||
Share based payments, compensation expense | $ 4,553,000 | 3,673,000 | 4,377,000 | |
Restricted Stock [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Description of vesting requirements of options granted | Restricted Stock is vested as follows: (i) 33% the first year; (ii) 33% the second year; and (iii) 34% the third year with respect to the date in which the Restricted Stock are granted to the participants. | |||
Share based payments, compensation expense | $ 8,839,000 | 6,372,000 | $ 6,215,000 | |
Performance Restricted Stock [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share based payments, compensation expense | $ 9,741,000 | $ 6,531,000 | ||
Long term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares reserved fo issuance | 8,750,000 | |||
Share based payments, date of grant | April 4, 2018 |
Supplementary information on _3
Supplementary information on oil and gas activities (unaudited) - Summary of costs capitalized as well as expensed that were incurred (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Acquisition of properties | ||||
Exploration | $ (16) | $ (736) | $ (561) | |
Argentina [Member] | ||||
Acquisition of properties | ||||
Proved | 0 | (68,743) | ||
Unproved | 0 | 0 | (69,693) | |
Total acquisition of properties | 0 | (68,743) | (69,693) | |
Exploration | 0 | |||
Development | [1] | (615,481) | (426,991) | (280,686) |
Total costs incurred | (615,481) | (495,734) | (350,379) | |
Mexico [Member] | ||||
Acquisition of properties | ||||
Unproved | 0 | |||
Total acquisition of properties | 0 | 0 | ||
Exploration | (624) | (561) | ||
Development | [1] | (17,283) | (4,368) | (13,475) |
Total costs incurred | $ (17,283) | $ (4,992) | $ (14,036) | |
[1]Including the re-estimation of well plugging and abandonment. |
Supplementary information on _4
Supplementary information on oil and gas activities (unaudited) - Summary of capitalized costs (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Argentina [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Gross capitalized costs | $ 2,723,155 | $ 2,329,769 | $ 1,737,205 | |
Cumulative depreciation | (842,024) | (773,424) | (549,885) | |
Total net capitalized costs | 1,881,131 | 1,556,345 | 1,187,320 | |
Mexico [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Gross capitalized costs | 38,281 | 46,088 | 41,441 | |
Cumulative depreciation | (4,006) | (2,972) | (281) | |
Total net capitalized costs | 34,275 | 43,116 | 41,160 | |
Machinery, facilities, software licenses and other [Member] | Argentina [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Proved Properties | [1] | 79,566 | 71,839 | 37,519 |
Machinery, facilities, software licenses and other [Member] | Mexico [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Proved Properties | [1] | 928 | 723 | 476 |
Oil & gas properties and wells [Member] | Argentina [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Proved Properties | [1],[2] | 2,521,781 | 2,108,966 | 1,614,708 |
Oil & gas properties and wells [Member] | Mexico [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Proved Properties | [1],[2] | 36,146 | 40,381 | 34,698 |
Works in progress [Member] | Argentina [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Proved Properties | [1] | 121,808 | 148,964 | 84,978 |
Works in progress [Member] | Mexico [Member] | ||||
Disclosure Of Capitalized Costs [Line Items] | ||||
Proved Properties | [1] | $ 1,207 | $ 4,984 | $ 6,267 |
[1]It includes the re-estimation of well plugging and abandonment.[2]As of December 31, 2023, including impairment of long lived-assets of 1,679 in Argentina and 22,906 in Mexico (Note 3.2.2). |
Supplementary information on _5
Supplementary information on oil and gas activities (unaudited) - Summary of capitalized costs (Parenthetical) (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Argentina [Member] | |
Disclosure Of Capitalized Costs [Line Items] | |
Impairment loss | $ 1,679 |
Mexico [Member] | |
Disclosure Of Capitalized Costs [Line Items] | |
Impairment loss | $ 22,906 |
Supplementary information on _6
Supplementary information on oil and gas activities (unaudited) - Summary of results of operations (Detail) $ in Thousands, € in Millions | 12 Months Ended | |||
May 23, 2023 EUR (€) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Disclosure Of Results Of Operations [Line Items] | ||||
Revenue from contract with customers | € 750 | $ 1,168,774 | $ 1,187,660 | $ 665,310 |
Production costs, excluding depreciation | ||||
Operating and other costs | 94,685 | 133,385 | 107,123 | |
Royalties and others | 128,723 | 144,837 | 86,241 | |
Other non-cash costs related to the transfer of conventional assets | 27,539 | |||
Depreciation, depletion and amortization | (276,430) | (234,862) | (191,313) | |
Exploration expenses | 16 | 736 | 561 | |
Operating profit (loss) before income tax | 545,359 | 433,514 | 152,764 | |
Income tax | (148,404) | (163,979) | (102,114) | |
Crude oil & natural gas operating profit (loss) | 396,955 | 269,535 | 50,650 | |
Argentina [Member] | ||||
Production costs, excluding depreciation | ||||
Exploration expenses | 0 | |||
Oil And Gas Producing Activities [Member] | Argentina [Member] | ||||
Disclosure Of Results Of Operations [Line Items] | ||||
Revenue from contract with customers | 1,168,774 | 1,187,660 | 665,310 | |
Total revenue | 1,168,774 | 1,187,660 | 665,310 | |
Production costs, excluding depreciation | ||||
Operating and other costs | (96,743) | (133,885) | (108,028) | |
Royalties and others | (176,813) | (188,677) | (99,364) | |
Other non-cash costs related to the transfer of conventional assets | (27,539) | |||
Total production costs | (301,095) | (322,562) | (207,392) | |
Depreciation, depletion and amortization | (276,430) | (234,862) | (191,313) | |
Exploration expenses | 0 | (624) | (561) | |
Discount for well plugging and abandonment liabilities | (2,387) | (2,444) | (2,546) | |
Impairment of long-lived assets | (24,585) | 14,044 | ||
Operating profit (loss) before income tax | 564,277 | 627,168 | 277,542 | |
Income tax | (169,283) | (188,150) | (83,263) | |
Crude oil & natural gas operating profit (loss) | $ 394,994 | $ 439,018 | $ 194,279 |
Supplementary information on _7
Supplementary information on oil and gas activities (unaudited) - Summary of estimated oil and natural gas proved reserves and technical volumes (Detail) - Proved Reserves [Member] | Dec. 31, 2023 Bcf MMBbls bbl | Dec. 31, 2022 MMBbls | Dec. 31, 2022 Bcf | Dec. 31, 2022 bbl | [3] | Dec. 31, 2021 MMBbls | Dec. 31, 2021 Bcf | Dec. 31, 2021 bbl | [3] | Dec. 31, 2020 MMBbls | Dec. 31, 2020 Bcf | Dec. 31, 2020 bbl | [6] | ||||
Mexico [member] | Crude oil, condensate and natural gas liquids [Member] | |||||||||||||||||
Disclosure Of Estimated Oil And Natural Gas Proved Reserves And Technical Volumes [Line Items] | |||||||||||||||||
Proved Developed | [1] | 1.8 | 0.2 | 0.3 | 0.2 | ||||||||||||
Proved Undeveloped | [1] | 5.5 | 2.7 | 3 | 0 | ||||||||||||
Total proved reserves (developed and undeveloped) | [1] | 7.3 | 2.9 | 3.3 | 0.2 | ||||||||||||
Mexico [member] | Consumption plus Natural gas sales in BCF [Member] | |||||||||||||||||
Disclosure Of Estimated Oil And Natural Gas Proved Reserves And Technical Volumes [Line Items] | |||||||||||||||||
Proved Developed | Bcf | 4.5 | 0.1 | 0.2 | 0.7 | |||||||||||||
Proved Undeveloped | Bcf | 11.4 | 5.9 | 6 | 0 | |||||||||||||
Total proved reserves (developed and undeveloped) | Bcf | 15.9 | 6 | 6.2 | 0.7 | |||||||||||||
Mexico [member] | Consumption plus Natural gas sales in MMBBL [Member] | |||||||||||||||||
Disclosure Of Estimated Oil And Natural Gas Proved Reserves And Technical Volumes [Line Items] | |||||||||||||||||
Proved Developed | 0.8 | 0 | 0 | 0.1 | |||||||||||||
Proved Undeveloped | 2 | 1.1 | 1.1 | 0 | |||||||||||||
Total proved reserves (developed and undeveloped) | 2.8 | 1.1 | 1.1 | 0.1 | |||||||||||||
Argentina [Member] | Crude oil, condensate and natural gas liquids [Member] | |||||||||||||||||
Disclosure Of Estimated Oil And Natural Gas Proved Reserves And Technical Volumes [Line Items] | |||||||||||||||||
Proved Developed | [1] | 71 | 68.3 | 48.2 | 37.6 | ||||||||||||
Proved Undeveloped | [1] | 191.3 | 136.8 | 95.1 | 61.8 | ||||||||||||
Total proved reserves (developed and undeveloped) | 262.3 | [1],[2],[3] | 205.1 | 205.1 | 143.3 | [1] | 143.3 | [2] | 99.4 | [1] | |||||||
Argentina [Member] | Consumption plus Natural gas sales in BCF [Member] | |||||||||||||||||
Disclosure Of Estimated Oil And Natural Gas Proved Reserves And Technical Volumes [Line Items] | |||||||||||||||||
Proved Developed | Bcf | 85.5 | 99.2 | 90.8 | 86.1 | |||||||||||||
Proved Undeveloped | Bcf | 173.3 | 139.7 | 99.4 | 73.9 | |||||||||||||
Total proved reserves (developed and undeveloped) | 258.8 | [3],[4] | 238.9 | [4],[5] | 190.2 | 190.2 | [5],[6] | 160 | 160 | ||||||||
Argentina [Member] | Consumption plus Natural gas sales in MMBBL [Member] | |||||||||||||||||
Disclosure Of Estimated Oil And Natural Gas Proved Reserves And Technical Volumes [Line Items] | |||||||||||||||||
Proved Developed | 15.2 | 17.7 | 16.2 | 15.3 | |||||||||||||
Proved Undeveloped | 30.9 | 24.8 | 17.7 | 13.1 | |||||||||||||
Total proved reserves (developed and undeveloped) | 46.1 | [3] | 42.5 | 42.5 | 33.9 | 33.9 | 28.4 | ||||||||||
[1]It refers to crude oil, condensate, and LNG.[2]It refers to Crude oil, condensate, and LPG.[3]Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding.[4]Natural gas internal consumption stood at 15.6% as of December 31, 2023.[5]Natural gas internal consumption stood at 11.1% as of December 31, 2022.[6]Natural gas consumption stood at 12.9% as of December 31, 2021. |
Supplementary information on _8
Supplementary information on oil and gas activities (unaudited) - Summary of reconciliation of the Company's reserves (Detail) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2023 MMBbls | Dec. 31, 2023 Bcf | Dec. 31, 2023 bbl | Dec. 31, 2022 MMBbls | Dec. 31, 2022 Bcf | Dec. 31, 2022 bbl | Dec. 31, 2021 MMBbls | Dec. 31, 2021 Bcf | Dec. 31, 2021 bbl | |||||||||||
Crude Oil Condensate And Natural Gas Liquids [Member] | Proved Reserves [Member] | Argentina [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | 205.1 | 205.1 | [1] | 143.3 | [2] | 143.3 | [1],[3] | 99.4 | [2] | ||||||||||
Beginning Balance | [2] | 68.3 | 48.2 | 37.6 | |||||||||||||||
Revisions of previous estimates | (8.2) | [3],[4] | 9.1 | [5] | 3.8 | [2],[6] | |||||||||||||
Extension and discoveries | 86.5 | [3],[7] | 65.4 | [8] | 53.5 | [3],[9] | |||||||||||||
Purchases of onsite proved reserves | (5.4) | [2],[10] | 2 | [11] | (2.2) | [3],[12] | |||||||||||||
Production for the year | (15.7) | [3],[13] | (14.6) | (11.2) | [3],[13] | ||||||||||||||
Ending Balance | [2] | 71 | 68.3 | 48.2 | |||||||||||||||
Ending Balance | 262.3 | [1],[2],[3] | 205.1 | 205.1 | [1] | 143.3 | [2] | 143.3 | [1],[3] | ||||||||||
Crude Oil Condensate And Natural Gas Liquids [Member] | Proved Reserves [Member] | Mexico [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | [2] | 0.2 | |||||||||||||||||
Beginning Balance | bbl | 2.9 | [3] | 3.3 | [1],[2] | |||||||||||||||
Revisions of previous estimates | 4.6 | [3],[14] | 1.5 | [2],[15] | |||||||||||||||
Purchases of onsite proved reserves | [2],[16] | 1.7 | |||||||||||||||||
Production for the year | [17] | (0.2) | [3] | (0.1) | [2] | ||||||||||||||
Ending Balance | bbl | 7.3 | [1],[3] | 2.9 | [3] | 3.3 | [1],[2] | |||||||||||||
Crude Oil Condensate And Natural Gas Liquids [Member] | Proved Reserves [Member] | Parent Company [Member] | Mexico [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | bbl | 2.9 | 3.3 | |||||||||||||||||
Revisions of previous estimates | (0.3) | ||||||||||||||||||
Production for the year | (0.2) | ||||||||||||||||||
Ending Balance | bbl | 2.9 | 3.3 | |||||||||||||||||
Consumption Plus Natural Gas Sales In BCF [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Purchases of onsite proved reserves | Bcf | 1.9 | ||||||||||||||||||
Consumption Plus Natural Gas Sales In BCF [Member] | Proved Reserves [Member] | Argentina [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | 238.9 | [1],[18],[19] | 190.2 | 190.2 | [1],[18],[20] | 160 | 160 | [20] | |||||||||||
Beginning Balance | Bcf | 99.2 | 90.8 | 86.1 | ||||||||||||||||
Revisions of previous estimates | Bcf | (27.8) | [4],[19] | 0.9 | [5],[18] | (5.4) | [6],[20] | |||||||||||||
Extension and discoveries | Bcf | 65.5 | [7],[19] | 62 | [8],[18] | 53.7 | [9],[20] | |||||||||||||
Purchases of onsite proved reserves | Bcf | (2.6) | [10],[19] | 2 | [11],[18] | (1.9) | [12],[20] | |||||||||||||
Production for the year | Bcf | (15.1) | [13],[19] | (16.3) | [18] | (16.2) | [13],[20] | |||||||||||||
Ending Balance | Bcf | 85.5 | 99.2 | 90.8 | ||||||||||||||||
Ending Balance | 258.8 | [1],[19] | 238.9 | [1],[18],[19] | 190.2 | 190.2 | [1],[18],[20] | ||||||||||||
Consumption Plus Natural Gas Sales In BCF [Member] | Proved Reserves [Member] | Mexico [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | Bcf | 0.7 | ||||||||||||||||||
Beginning Balance | bbl | 6 | 6.2 | [1] | ||||||||||||||||
Revisions of previous estimates | Bcf | 10 | [14] | 3 | [15] | |||||||||||||||
Purchases of onsite proved reserves | Bcf | [16] | 2.4 | |||||||||||||||||
Production for the year | Bcf | [17] | (0.1) | |||||||||||||||||
Ending Balance | bbl | 15.9 | [1] | 6 | 6.2 | [1] | ||||||||||||||
Consumption Plus Natural Gas Sales In BCF [Member] | Proved Reserves [Member] | Parent Company [Member] | Mexico [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | bbl | 6 | 6.2 | |||||||||||||||||
Revisions of previous estimates | Bcf | (0.1) | ||||||||||||||||||
Production for the year | Bcf | (0.1) | ||||||||||||||||||
Ending Balance | bbl | 6 | 6.2 | |||||||||||||||||
Consumption Plus Natural Gas Sales In MMBBL [Member] | Proved Reserves [Member] | Argentina [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | 42.5 | 42.5 | [1] | 33.9 | 33.9 | [1] | 28.4 | ||||||||||||
Beginning Balance | 17.7 | 16.2 | 15.3 | ||||||||||||||||
Revisions of previous estimates | (4.9) | [4] | 0.2 | [5] | (0.9) | [6] | |||||||||||||
Extension and discoveries | 11.7 | [7] | 11 | [8] | 9.6 | [9] | |||||||||||||
Purchases of onsite proved reserves | (0.5) | [2] | 0.4 | [11] | (0.3) | [12] | |||||||||||||
Production for the year | (2.7) | [13] | (2.9) | [17] | (2.9) | [13] | |||||||||||||
Ending Balance | 15.2 | 17.7 | 16.2 | ||||||||||||||||
Ending Balance | 46.1 | [1] | 42.5 | 42.5 | [1] | 33.9 | 33.9 | [1] | |||||||||||
Consumption Plus Natural Gas Sales In MMBBL [Member] | Proved Reserves [Member] | Mexico [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | 0.1 | ||||||||||||||||||
Beginning Balance | bbl | 1.1 | 1.1 | [1] | ||||||||||||||||
Revisions of previous estimates | 1.7 | [14] | 0.5 | [15] | |||||||||||||||
Purchases of onsite proved reserves | [16] | 0.4 | |||||||||||||||||
Production for the year | [17] | 0 | |||||||||||||||||
Ending Balance | bbl | 2.8 | [1] | 1.1 | 1.1 | [1] | ||||||||||||||
Consumption Plus Natural Gas Sales In MMBBL [Member] | Proved Reserves [Member] | Parent Company [Member] | Mexico [Member] | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities [Line Items] | |||||||||||||||||||
Beginning Balance | bbl | 1.1 | 1.1 | |||||||||||||||||
Revisions of previous estimates | 0 | ||||||||||||||||||
Production for the year | 0 | ||||||||||||||||||
Ending Balance | bbl | 1.1 | 1.1 | |||||||||||||||||
[1]Reserves included in this note have been rounded for ease of presentation. For this reason, certain calculations that appear in this note may not sum due to rounding.[2]It refers to crude oil, condensate, and LNG.[3]It refers to Crude oil, condensate, and LPG.[4]The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (-8.2 MMbbl) are mainly related to: (a) in connection with the developed reserve: (i) results of well tests for Aguada Federal (-0.54 MMbbl); (ii) Bajada del Palo Este (-0.71 MMbbl); (iii) Bajada del Palo Oeste (-0.43 MMbbl); (iv) Bajada del Palo Oeste (Farmout Agreement II) (-1.26 MMbbl) especially in wells targeting the organic horizon; (v) CAN(-0.31 MMbbl) and the negative revision due to the retroactive adjustment of LPG plant in Entre Lomas Río Negro (-0.88 MMbbl); (vi) positive results in Bajada del Palo Este (+0.38 MMbbl); Bajada del Palo Oeste (+0.33 MMbbl); Bajada del Palo Oeste (Farmout Agreement II) (+0.77 MMbbl); (vii) combined effect of other fields (-0.06 MMbbl); and (viii) due to price changes (-0.4 MMbbl) effect. (b) in connection with the undeveloped reserve: (i) They are related to the adjustment of the typical well in Aguada Federal due to the latest well results reducing (-5.82 MMbbl); (ii) the potential combined effect of other fields and rounding (+0.73 MMbbl), which includes the revision of reserves associated with the extension of the economic life of proved developed reserves in conventional Bajada del Palo Oeste, Bajada del Oeste, Bajada del Oeste (Farmout Agreement I), and Bajada del Oeste UTE II (Farmout Agreement II). The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (-27.8 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) they are associated with the lower performance and adjustment of the gas/oil ratio (“GOR”) in the wells of Aguada Federal (-4.3 Bcf), Bajada del Palo Este (-2.62 Bcf), Bajada del Palo Oeste (-4.51 Bcf), Bajada del Palo Oeste NOC (-3.61 Bcf), Bajada del Palo Oeste (Farmout Agreement I) (-3.28 Bcf), and Bajada del Palo Oeste (Farmout Agreement II) (-1.44 Bcf); (ii) for price changes, the variation was (-0.41 Bcf); and (iii) the rest due to the effect of other fields (-1.75 Bcf). (b) in connection with the undeveloped reserve: (i) they are related to the update of the typical well in Aguada Federal due to the latest well results reducing (-6.58 Bcf); (ii) the potential combined effect of other fields and rounding (+0.70 Bcf), which includes the revision of reserves associated with the extension of the economic life of proved developed reserves in conventional Bajada del Palo Oeste, Bajada del Oeste, Bajada del Oeste (Farmout Agreement I), and Bajada del Oeste (Farmout Agreement II).[5]The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (+9.1MMbbl) are mainly related to: (a) in connection with the developed reserve: (i) the enhanced performance of the 32 (thirty two) production wells targeting Vaca Muerta unconventional in Bajada del Palo Oeste concession (+4.78 MMbbl); (ii) the 28 (twenty eight) wells drilled in 2022 targeting Vaca Muerta unconventional reservoir in Bajada del Palo Oeste concession, which comprises the farmout I agreement mentioned in Note 29.2.1. (+2.54 MMbbl); (iii) a combined negative effect from other plots of land (-0.62 MMbbl); (iv) a price revision for (+0.75 MMbbl). (b) in connection with the undeveloped reserve: (i) the unconventional Bajada del Palo Oeste concession were revised up, due to a lateral length adjustment, which had no effect on the type well (+0.87 MMbbl); (ii) the Entre Lomas Rio Negro concession were also revised up due to the addition of a well in Charco Bayo oilfield targeting Tordillo and Punta Rosada formations (+0.31 MMbbl); (iii) an upward revision was also made in the development plan of Jagüel de los Machos block due to the addition of 2 (two) wells and 2 (two) workovers (+0.12 MMbbl); (iv) minor changes in the activity of 25 de Mayo-Medanito block (+0.05 MMbbl); (v) in Bajada del Palo Oeste concession, a downward revision was made related to the removal of two wells targeting Lotena conventional formation (-0.28 MMbbl); and (vi) a price revision for (+0.58 MMbbl). The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (+0.9 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) the enhanced performance GOR adjustment based on the latest trial results of the 32 (thirty two) unconventional production wells in Bajada del Palo Oeste concession (+4.83 Bcf); (ii) reduced performance of conventional wells in Bajada del Palo Oeste concession (-2.52 Bcf); (iii) a minor performance in Natural gas wells in Charco Bayo and Piedras Blancas in ELo Río Negro concession (-4.81 Bcf); (iv) a practically null combined effect in the remainder plots of land (-0.38 Bcf); and (v) a price revisions for (+2.54 Bcf). (b) in connection with the undeveloped reserve: (i) the unconventional Bajada del Palo Oeste concession were revised up, due to a lateral length adjustment, which had no effect on the type well (+1.00 Bcf); (ii) the Elo Río Negro concession were also revised up due to the addition of a well in Charco Bayo oilfield targeting Tordillo and Punta Rosada formations (+1.34 Bcf); (iii) an upward revision was also made in the development plan of Jagüel de los Machos block due to the addition of 2 (two) wells and 2 (two) workovers (+0.13 Bcf); (iv) minor changes in the activity of 25 de Mayo-Medanito block (+0.02 Bcf); (v) in Bajada del Palo Oeste concession, a downward revision was made related to the removal of two wells targeting Lotena conventional formation (-2.21 Bcf); and (vi) a price revisions for (+0.96 Bcf).[6]The changes due to revisions of prior estimates of total proved Crude oil reserves (+3.8 MMbbl) are mainly related to: (i) an extension of the economic cap applicable to the different concessions (+3.3 MMbbl) due to increased prices of liquid hydrocarbon (from USD 41.97 per barrel to USD 54.99 per barrel of condensate and C5+, and from USD 19.16 per barrel to USD 26.87 per barrel of LPG); (ii) an enhanced performance of Bajada del Palo Oeste unconventional wells (+2.6 MMbbl); partly offset by: (iii) a lower performance of the base production of Bajada del Palo Oeste (-0.6 MMbbl), 25 de Mayo-Medanito (-0.6 MMbbl), ELo Río Negro (-0.5 MMbbl) and Coirón Amargo Norte (-0.4 MMbbl) conventional wells. The changes due to revisions of prior estimates of proved Natural gas reserves (-5.4 Bcf) are mainly related to: (i) the revision of the type curve of proved undeveloped reserves in Lotena formation (-4.9 Bcf) after profit (loss) from drilling wells in 2021; (ii) a lower performance of Borde Montuoso conventional wells in Bajada del Palo Oeste (-4.0 Bcf); of Charco Bayo Natural gas wells in ELo Río Negro concession (-2.3 Bcf); (iii) a lower performance of the new dry Natural gas well drilled in 2021 in Bajada del Palo Oeste concession (-1.8 Bcf); (iv) a change in the development plan in Natural gas reservoirs in conventional fields (-1.1 Bcf); partly offset by: (v) an enhanced performance of Bajada del Palo Oeste unconventional wells (+2.9 Bcf); and (vi) an extension of the economic cap applicable to the different concessions (+5.8 Bcf) due to higher commercial Natural gas prices (from USD 2.81 per cubic feet to USD 3.92 per cubic feet).[7]The changes in the proved developed and undeveloped reserves due to the extension and discovery of Crude oil (+86.5 MMbbl) and Natural gas (+65.5 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) the drilling success in Vaca Muerta formation of Bajada del Oeste with a pad (3 wells) adding (+3.18 MMbbl and +3.19 Bcf); (ii) a pad (4 wells) in Bajada del Palo Oeste (Farmout Agreement II), incorporating (+2.7 MMbbl and +2.45 Bcf); (iii) a pad (4 wells) in Aguada Federal adding (+1.16 MMbbl and +1.44 Bcf), another pad (2 wells) in Águila Mora, adding (+1.51 MMbbl and +1.15 Bcf); and (iv) two wells in Bajada del Palo Este totaling (+3.10 MMbbl and +0.8 Bcf). Also, there is a neutral effect from the conversion of proved undeveloped reserves to proved developed reserves generated by: (i) the drilling success in Vaca Muerta formation of 2 pads (8 wells) in Bajada del Palo Oeste adding (+7.84 MMbbl and +7.90 Bcf); (ii) the addition of 2 pads (8 wells) in Bajada del Palo Oeste (Farmout Agreement II), incorporating (+6.94 MMbbl and +6.99 Bcf); as well as (iii) the drilling in a well in Entre Lomas Río Negro adding (+0.22 MMbbl and +2.06 Bcf). (b) in connection with the undeveloped reserve enable by the activity of drilling in Vaca Muerta formation of: (i) 4 pads (15 wells) in Aguada Federal adding (+9.09 MMbbl and +9.09 Bcf), 11 pads (24 wells) in Bajada del Palo Este totaling (+28.91 MMbbl and +12.05 Bcf), 9 pads (33 wells) in Bajada del Palo Oeste, totaling (+36.85 MMbbl and +35.33 Bcf).[8]The changes in the proved developed and undeveloped reserves due to the extension and discovery of Crude oil (+65.4 MMbbl) and Natural gas (+62.0 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) the drilling of 16 (sixteen) wells (4 pads) targeting Vaca Muerta formation in Bajada del Palo Oeste concession (+13.44 MMbbl, and +12.30 Bcf): (ii) the drilling of 12 (twelve) wells targeting Vaca Muerta formation in Aguada Federal concession (+7.73 MMbbl, and +8.36 Bcf); (iii) the drilling of 2 (two) wells (1 pad) in Bajada del Palo Este targeting Vaca Muerta (+2.75 MMbbl, and +0.89 Bcf). (b) in connection with the undeveloped reserve: (i) the drilling of 13 (thirteen) wells (4 pads) targeting Vaca Muerta formation in Bajada del Palo Oeste concession (+14.08 MMbbl, +13.91 Bcf); (ii) the drilling of 2 (two) wells (1 pad) in Bajada del Palo Este (+2.71 MMbbl, and +1.39 Bcf); and (iii) the drilling of 28 (twenty-eight) wells (13 pads) in Aguada Federal (+24.69 MMbbl, and +25.15 Bcf).[9]The changes in total proved reserves due to the extension and discovery of Crude oil (+53.5 MMbbl) and Natural gas (+53.7 Bcf) are mainly related to: (i) the extension of proved undeveloped acreage thanks to the addition of 11 (eleven) pads (44 wells) classified as proved undeveloped due to the successful drilling in Vaca Muerta unconventional formation in Bajada del Palo Oeste concession (+46.2 MMbbl, +46.5 Bcf); and (ii) the extension of proved developed acreage related to the drilling of 2 (two) unproved pads (8 (eight) wells (related to PAD 35 and PAD 44) in Vaca Muerta unconventional formation in Bajada del Palo Oeste concession under the farmout agreement I with Trafigura (+7.3 MMbbl, +7.2 Bcf).[10]The changes in the purchase of crude oil (-5.4 MMbbl) and Natural gas (-2.6 Bcf) are mainly related to the agreement signed with Aconcagua mentioned in Note 1.2.1.[11]The changes in the purchase of Crude oil (+2.00 MMbbl) and Natural gas (+2.00 Bcf) reserves are mainly related to the farmout II agreement signed with Trafigura mentioned in Note 29.2.1.2. As of December 31, 2021, 4 (four) wells were proved undeveloped and the 4 (four) wells were unproved. As of December 31, 2022, the 8 (eight) wells are undeveloped proved.[12]The changes due to purchases/sales of Crude oil (-2.2 MMbbl) and Natural gas (-1.9 Bcf) reserves are related to: (i) the sale of the interest (10%) in CASO (-1.4 MMbbl , -1.0 Bcf); (ii) the farmout agreement I mentioned in Note 29.3.2.1 related to PAD 12 (4 wells) in Vaca Muerta unconventional formation in Bajada del Palo Oeste concession (-0.9 MMbbl, -0.9 Bcf ); partly offset by (iii) the acquisition of the 50% interest in Aguada Federal concession (+0.1 MMbbl).[13]Considering Vista Argentina’s output.[14]The changes from prior-estimate revisions of proved developed and undeveloped Crude oil reserves (+4.6 MMbbl) are mainly related to: (a) in connection with the developed reserve: (i) due to the extension of (+0.2 MMbbl) from the successful drilling of two new Vernet-1051 and 1052 blocks; and (ii) the rounding effect (-0.1 MMbbl). (b) in connection with the undeveloped reserve: (i) (+0.5 MMbbl) due to the latest drilling and discovery campaigns in Amate and Encajonado formations; (ii) an increase of (+3.1 MMbbl) because cash-paid royalties for reserves and production volumes are not discounted; and (iii) an increase due to the extension of acreage from the drilling campaign in the same blocks with Vernet-1053 and 1054 wells, resulting in an increase of (+0.9 MMbbl). The changes from prior-estimate revisions of proved developed and undeveloped Natural gas reserves (10.0 Bcf) are mainly related to: (a) in connection with the developed reserve: (i) The lower performance and price decrease (-0.4 Bcf); and (ii) due to the extension of (+3.3 Bcf) from the successful drilling of two new Vernet-1051 and 1052 blocks. (b) in connection with the undeveloped reserve: (i) an increase of (+6.4 Bcf) because cash-paid royalties for reserves and production volumes are not discounted; and (ii) an increase due to the extension of acreage from the drilling campaign in the same blocks with Vernet-1053 and 1054 wells, resulting in an increase of (+0.7 Bcf). In addition, there is a neutral effect from the conversion of proved undeveloped reserves to proved developed reserves generated by: (i) the successful drilling campaign of Vernet-1001, 1002, 1004, 1005, and 1006 (+1.65 MMbbl and +1.67 Bcf).[15]The revisions of proved developed Crude oil, condensate and Natural gas reserves are related to the development plan approved by the CNH, as well as the drilling and completion of Vernet-1001 wells.[16]The changes due to purchases/sales of Crude oil (+1.7 MMbbl) and Natural gas (+2.4 bcf) are mainly related to the transfer of assets in Mexico, whereby Company increased its equity to 100% in CS-01 area (see Note 29.3.11).[17]Considering Vista Holding II’s output.[18]Natural gas internal consumption stood at 11.1% as of December 31, 2022.[19]Natural gas internal consumption stood at 15.6% as of December 31, 2023.[20]Natural gas consumption stood at 12.9% as of December 31, 2021. |
Supplementary information on _9
Supplementary information on oil and gas activities (unaudited) - Summary of reconciliation of the company's reserves (Parenthetical) (Detail) | 12 Months Ended | |||||||||||
Dec. 31, 2023 MMBbls Bcf | Dec. 31, 2022 MMBbls | Dec. 31, 2022 MMBbls Bcf | Dec. 31, 2021 MMBbls Bcf | Dec. 31, 2023 Bcf | Dec. 31, 2023 | Dec. 31, 2022 Bcf | Dec. 31, 2022 | Dec. 31, 2021 Bcf | Dec. 31, 2021 | Dec. 31, 2021 $ / bbl | Dec. 31, 2021 $ / ft³ | |
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Natural gas consumption percentage | 15.60% | 11.10% | 12.90% | |||||||||
Increase in proved developed oil reserves | 53.5 | 53.7 | ||||||||||
Increase in proved undeveloped oil reserves | 0.34 | 0.34 | 0.02 | |||||||||
Proved developed and undeveloped reserves revisions of previous estimates increase decrease of oil | 86.5 | 65.4 | ||||||||||
Proved developed and undeveloped reserves, revisions of previous estimates of gas | Bcf | 65.5 | 62 | ||||||||||
Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised volume of oil for better performance | 0.2 | |||||||||||
Combined effect of volume of oil reserve | (0.06) | |||||||||||
Price changes effect of volume of oil reserve | (0.4) | |||||||||||
Price changes effect of volume of oil and gas for better performance | Bcf | (0.41) | |||||||||||
Combined effect of volume of oil and gas for better performance | Bcf | (1.75) | |||||||||||
Rounding volume of oil for better performance | (0.1) | |||||||||||
Undeveloped reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Combined effect of volume of oil reserve | 0.73 | |||||||||||
Raised volume of oil due to latest drilling campaigns | 0.5 | |||||||||||
Raised volume of oil due to payment of royalities for production | 3.1 | 6.4 | ||||||||||
Raised volume of oil due to extension of drilling campaigns | 0.9 | 0.7 | ||||||||||
Decrease of volume of oil | Bcf | (0.4) | |||||||||||
Extension of volume of oil | Bcf | 3.3 | |||||||||||
Conversion Of Reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of drilled well oil and gas for better performance | 1.65 | 1.67 | ||||||||||
Jagüel de ios machos [member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised volume of oil for better performance | 0.12 | 0.12 | ||||||||||
Revised voume of gas for better performance | Bcf | 0.13 | |||||||||||
Land [member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of combined effect | (0.62) | (0.62) | (0.38) | |||||||||
Volume of price revisions | 0.75 | 0.75 | 2.54 | |||||||||
Natural Gas [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revisions of previous estimates | Bcf | 0.9 | |||||||||||
Volume of price revisions | Bcf | 0.96 | |||||||||||
Vaca Muerta [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | 2.75 | 2.75 | 0.89 | |||||||||
Vaca Muerta [Member] | Undeveloped reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | 14.08 | 14.08 | 13.91 | |||||||||
Venture agreement [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Percentage of Sale of Interest in Oil Gas Properties | 10% | |||||||||||
Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revisions of previous estimates | 3.8 | |||||||||||
Purchases of proved reserves in place | 2.2 | |||||||||||
Proved Developed Oil Reserves Purchases or Sales Changes | (5.4) | 2 | 2.4 | |||||||||
Oil And Gas Producing Activities [Member] | Venture agreement [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Purchases of proved reserves in place | 1.4 | |||||||||||
Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 5.4 | |||||||||||
Purchases of proved reserves in place | Bcf | 1.9 | |||||||||||
Proved Developed Oil Reserves Purchases or Sales Changes | (2.6) | 1.7 | 2 | |||||||||
Consumption Plus Natural Gas Sales In BCF [Member] | Venture agreement [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Purchases of proved reserves in place | Bcf | 1 | |||||||||||
Crude Oil [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revisions of previous estimates | (8.2) | 9.1 | ||||||||||
Volume of price revisions | 0.58 | 0.58 | ||||||||||
Increased Prices of Liquid Hydrocarbon [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised voume of gas for better performance | 3.3 | |||||||||||
Increased Prices of Liquid Hydrocarbon [Member] | Oil And Gas Producing Activities [Member] | Condensate and C5 Plus [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised price per barral | $ / bbl | 54.99 | |||||||||||
Price Per Barrel | 41.97 | |||||||||||
Increased Prices of Liquid Hydrocarbon [Member] | Oil And Gas Producing Activities [Member] | Liquefied Petroleum Gas [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised price per barral | $ / bbl | 26.87 | |||||||||||
Price Per Barrel | 19.16 | |||||||||||
Revision of Type Curve of Proved Undeveloped Reserves [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 4.9 | |||||||||||
Enhanced Performance of Gas Wells [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 0.04 | |||||||||||
Extension of Economic Cap [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 5.8 | |||||||||||
Commercial gas per cubic feet | $ / ft³ | 2.81 | |||||||||||
Revised Commercial gas per cubic feet | $ / ft³ | 3.92 | |||||||||||
Enhanced performance of oil wells [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | 0.05 | 0.05 | ||||||||||
Coirn Amargo Norte [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised voume of gas for better performance | 0.4 | |||||||||||
Bajada Del Palo Oeste Concession [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Increase in proved developed oil reserves | 46.2 | 46.5 | ||||||||||
Bajada Del Palo Oeste Concession [Member] | Trafigura Agreement [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Increase in proved developed oil reserves | 7.3 | 7.2 | ||||||||||
Bajada Del Palo Oeste Concession [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Purchases of proved reserves in place | 0.9 | |||||||||||
Bajada Del Palo Oeste Concession [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Purchases of proved reserves in place | Bcf | 0.9 | |||||||||||
Bajada Del Palo Oeste Concession [Member] | Revision of Type Curve of Proved Undeveloped Reserves [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil for better performance | 0.87 | 0.87 | ||||||||||
Revised volume of oil for better performance | (0.28) | (0.28) | ||||||||||
Entre Lomas Rio Negro Concession [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised volume of oil for better performance | 0.31 | 0.31 | ||||||||||
Voume of gas for better performance | Bcf | (4.81) | |||||||||||
Revised voume of gas for better performance | Bcf | 1.34 | |||||||||||
Entre Lomas Rio Negro Concession [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised voume of gas for better performance | 0.5 | |||||||||||
De Mayo Medanito Se Concession Twenty Five [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised voume of gas for better performance | 0.6 | |||||||||||
Bajada Del Palo Oeste Shale Oil Project [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised voume of gas for better performance | 0.6 | |||||||||||
Bajada Del Palo Este Conventional [Member] | Undeveloped reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of drilled well oil and gas for better performance | 28.91 | 12.05 | ||||||||||
Bajada Del Palo Oeste Conventional Block [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil for better performance | 4.78 | 4.78 | ||||||||||
Voume of gas for better performance | Bcf | 4.83 | |||||||||||
Revised voume of gas for better performance | Bcf | (2.52) | |||||||||||
Bajada Del Palo Oeste Conventional Block [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | 13.44 | 13.44 | 12.3 | |||||||||
Bajada Del Palo Oeste Conventional Block [Member] | Undeveloped reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | 2.71 | 2.71 | 1.39 | |||||||||
Volume of drilled well oil and gas for better performance | 36.85 | 35.33 | ||||||||||
Bajada Del Palo Oeste Conventional Block [Member] | Vaca Muerta [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil for better performance | 2.54 | 2.54 | ||||||||||
Bajada Del Palo Oeste Conventional Block [Member] | Revision of Type Curve of Proved Undeveloped Reserves [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 1 | |||||||||||
Bajada Del Palo Oeste Conventional Block [Member] | Lower Performance of Gas Wells [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 1.8 | |||||||||||
Lotena Conventional Formation [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised voume of gas for better performance | Bcf | (2.21) | |||||||||||
Bajada Del Palo Oeste Unconventional wells [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revised voume of gas for better performance | 2.6 | |||||||||||
Bajada Del Palo Oeste Unconventional wells [Member] | Enhanced Performance of Gas Wells [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 2.9 | |||||||||||
Borde Montuoso conventional wells [Member] | Lower Performance of Gas Wells [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 4 | |||||||||||
Charco Bayo gas wells in ELo Ro Negro [Member] | Lower Performance of Gas Wells [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 2.3 | |||||||||||
Conventional fields [Member] | Lower Performance of Gas Wells [Member] | Consumption Plus Natural Gas Sales In BCF [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Voume of gas for better performance | Bcf | 1.1 | |||||||||||
Aguada Federal Concession [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Percentage working interest acquired | 50% | |||||||||||
Aguada Federal Concession [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | 7.73 | 7.73 | 8.36 | |||||||||
Aguada Federal Concession [Member] | Undeveloped reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | 24.69 | 24.69 | 25.15 | |||||||||
Volume of drilled well oil and gas for better performance | 9.09 | 9.09 | ||||||||||
Aguada Federal Concession [Member] | Oil And Gas Producing Activities [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Purchases of proved reserves in place | 0.1 | |||||||||||
Mayo medanito [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil for better performance | 0.05 | 0.05 | 0.02 | |||||||||
Aguada Federal Negative [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | (0.54) | |||||||||||
Bajada del Palo Este Negative [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | (0.71) | |||||||||||
Bajada del Palo Oeste Negative [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | (0.43) | |||||||||||
Bajada del Palo Oeste Negative FarmoutAgreement 2 [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | (1.26) | |||||||||||
Entre Lomas Rio Negro Negative CAN [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | (0.31) | |||||||||||
Entre Lomas Rio Negro Negative [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | (0.88) | |||||||||||
Bajada del Palo Este Positive [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | 0.38 | |||||||||||
Bajada del Palo Oeste Positive [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | 0.33 | |||||||||||
Bajada del Palo Oeste Positive FarmoutAgreement 2 [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil reserve | 0.77 | |||||||||||
Aguada Federal [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | Bcf | (4.3) | |||||||||||
Volume of drilled well oil and gas for better performance | 1.16 | 1.44 | ||||||||||
Aguada Federal [Member] | Undeveloped reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | Bcf | (6.58) | |||||||||||
Decrease of volume of well reserve | (5.82) | |||||||||||
Combined effect of volume of oil and gas for better performance | Bcf | 0.7 | |||||||||||
Bajada del Palo Este [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | Bcf | (2.62) | |||||||||||
Volume of drilled well oil and gas for better performance | 3.1 | 0.8 | ||||||||||
Bajada del Palo Oeste [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | Bcf | (4.51) | |||||||||||
Bajada del Palo Oeste [Member] | Conversion Of Reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of drilled well oil and gas for better performance | 7.84 | 7.9 | ||||||||||
Bajada del Palo Oeste NOC [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | Bcf | (3.61) | |||||||||||
Bajada del Palo Oeste Farmout Agreement I [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | Bcf | (3.28) | |||||||||||
Bajada del Palo Oeste (Farmout Agreement II) [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of oil and gas for better performance | Bcf | (1.44) | |||||||||||
Volume of drilled well oil and gas for better performance | 2.7 | 2.45 | ||||||||||
Bajada del Palo Oeste (Farmout Agreement II) [Member] | Conversion Of Reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of drilled well oil and gas for better performance | 6.94 | 6.99 | ||||||||||
Bajada Del Oeste [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of drilled well oil and gas for better performance | 3.18 | 3.19 | ||||||||||
Aguila Mora [Member] | Developed reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of drilled well oil and gas for better performance | 1.51 | 1.15 | ||||||||||
Entre Lomas Rio Negro [Member] | Conversion Of Reserve [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Volume of drilled well oil and gas for better performance | 0.22 | 2.06 | ||||||||||
Crude Oil [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revisions of previous estimates | 4.6 | |||||||||||
ARGENTINA | Natural Gas [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revisions of previous estimates | Bcf | (27.8) | |||||||||||
MEXICO | Natural Gas [Member] | ||||||||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | ||||||||||||
Revisions of previous estimates | Bcf | 10 |
Supplementary information on_10
Supplementary information on oil and gas activities (unaudited) - Summary of standardized measure of discounted future cash flows (Detail) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred [Line Items] | ||||||
Standardized measure of discounted future net cash flows | $ 3,390 | $ 3,241 | $ 1,512 | $ 738 | ||
Argentina [Member] | ||||||
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred [Line Items] | ||||||
Future cash inflows | [1] | 18,771 | 16,118 | 8,506 | [2] | |
Future production costs | [1] | (5,573) | (4,634) | (2,638) | [2] | |
Future development and abandonment costs | [1] | (3,198) | (2,142) | (1,294) | [2] | |
Future income tax | [1] | (3,477) | (3,009) | (1,432) | [2] | |
Discounted future net cash flows | [1] | 6,523 | 6,333 | 3,142 | [2] | |
10% annual discount | [1] | (3,133) | (3,092) | (1,630) | [2] | |
Standardized measure of discounted future net cash flows | [1] | $ 3,390 | $ 3,241 | $ 1,512 | [2] | |
[1]Amounts expressed in millions of US Dollars (“MM USD”).[2]As of December 31, 2021, the standardized measure of future discounted cash flow (net) is related to the estimated value of reserves in Argentina. The table does not include the estimated value of the reserves in Mexico’s areas (24MM USD as of December 31, 2021). |
Supplementary information on_11
Supplementary information on oil and gas activities (unaudited) - Summary of standardized measure of discounted future cash flows (Parenthetical) (Detail) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 USD ($) $ / ft³ | Dec. 31, 2022 USD ($) $ / ft³ | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves | $ | $ 3,390 | $ 3,241 | $ 1,512 | $ 738 |
Farmout agreement II [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Proportion of ownership interest in joint venture | 25% | |||
Crude Oil [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Proportion Of Producion Of Oil | 60% | |||
MEXICO | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves | $ | $ 24,000 | |||
Bottom of range [member] | Oil Condensate and C5 Plus [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Prices Per Barrel | 66.5 | 54.99 | ||
Bottom of range [member] | Liquefied Petroleum Gas [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Prices Per Barrel | 25.4 | 26.87 | ||
Bottom of range [member] | Commercial Gas [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Commercial gas per cubic feet | $ / ft³ | 3.55 | 3.92 | ||
Top of range [member] | Oil Condensate and C5 Plus [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Prices Per Barrel | 72.32 | 72.32 | ||
Top of range [member] | Liquefied Petroleum Gas [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Prices Per Barrel | 31.19 | 31.19 | ||
Top of range [member] | Commercial Gas [Member] | ||||
Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows [Line Items] | ||||
Commercial gas per cubic feet | $ / ft³ | 4.86 | 4.86 |
Supplementary information on_12
Supplementary information on oil and gas activities (unaudited) - Summary of changes in the standardized measure of discounted future net cash flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Additional information [abstract] | |||
Standardized measure of future discounted cash flow, net, at beginning of year | $ 3,241 | $ 1,512 | $ 738 |
Net changes in selling prices and production costs related to future production | (314) | 1,170 | 783 |
Net changes in estimated future development costs | (3,642) | (2,632) | 28 |
Net changes from revisions of workload estimates | (220) | 229 | 44 |
Net changes from extensions, discoveries and improvements | 2,240 | 1,790 | 1,006 |
Cumulative discount | 3,333 | 1,585 | 116 |
Net changes from on-site purchases and sales of minerals | (131) | 55 | (40) |
Sales of Crude oil, LNG and Natural gas produced, net of production costs | 841 | 820 | (429) |
Estimated development costs previously incurred | (669) | (460) | (263) |
Net changes in income tax | (1,289) | (852) | (471) |
Other | 0 | 24 | 0 |
Changes in the standardized measure of future discounted cash flow for the year | 149 | 1,729 | 774 |
Standardized measure of future discounted cash flow at end of year | $ 3,390 | $ 3,241 | $ 1,512 |
Supplementary information on_13
Supplementary information on oil and gas activities (unaudited) - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | |
Natural gas reserves criteria | Natural gas reserves were converted into liquid equivalent using the conversion factor of 5.615 cubic feet of Natural gas per 1 barrel of liquid equivalent. |
Accounting Standards Codification Member [Member] | |
Disclosure Of Costs Capitalized As Well As Expensed That Were Incurred Line items [Line Items] | |
Cash flow discounting factor | 10% |
Subsequent events - Additional
Subsequent events - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Apr. 05, 2024 | Apr. 04, 2024 | Mar. 21, 2024 | Mar. 18, 2024 | Mar. 06, 2024 | Mar. 05, 2024 | Mar. 04, 2024 | Feb. 11, 2024 | Jan. 19, 2024 | Jan. 04, 2024 | Feb. 27, 2023 | Apr. 30, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2025 | Mar. 31, 2024 | Mar. 01, 2024 | Jan. 25, 2024 | Feb. 23, 2023 | Feb. 15, 2023 | |
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 22,993 | $ 34,430 | $ 54,636 | ||||||||||||||||||
Repayment Of Loan and Interest | 211,499 | $ 195,091 | $ 284,695 | ||||||||||||||||||
Cash | 10,000 | $ 5,734 | $ 10,734 | $ 26,468 | $ 10,000 | ||||||||||||||||
Settlement of liabilities on behalf of entity by related party, related party transactions | 34,660 | ||||||||||||||||||||
Vista Argentina [member] | ON XXI [Member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 175 | ||||||||||||||||||||
Non-adjusting events [member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Cash | $ 10,734 | ||||||||||||||||||||
Non-adjusting events [member] | Vista Argentina [member] | ON XI and XII [Member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 3,053 | ||||||||||||||||||||
Non-adjusting events [member] | Vista Argentina [member] | ON XIII [Member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 651 | ||||||||||||||||||||
Non-adjusting events [member] | Vista Argentina [member] | ON XX [Member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 151 | ||||||||||||||||||||
Non-adjusting events [member] | Vista Argentina [member] | ON XV [Member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 135 | ||||||||||||||||||||
Non-adjusting events [member] | Vista Argentina [member] | ON VI and XIX [Member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 122 | ||||||||||||||||||||
Non-adjusting events [member] | Vista Argentina [member] | ON XXIII [Member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Borrowings, face value | $ 60,000 | ||||||||||||||||||||
Borrowings, interest rate | 6.50% | ||||||||||||||||||||
Borrowings, maturity date | March 2027 | ||||||||||||||||||||
Loan Agreement With Banco Macro [Member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Borrowings, face value | $ 35,000 | ||||||||||||||||||||
Borrowings, interest rate | 7% | ||||||||||||||||||||
Repayment Of Loan and Interest | $ 35,229 | ||||||||||||||||||||
Loan Agreement With Conoco Phillips [Member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 958 | ||||||||||||||||||||
Loan Agreement With Eurobanco Bank Limited [Member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Borrowings, face value | $ 40,000 | ||||||||||||||||||||
Borrowings, interest rate | 11.40% | ||||||||||||||||||||
Cancelled borrowings amount | $ 40,380 | ||||||||||||||||||||
Loan Agreement With Banco Provincia [Member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Borrowings, face value | $ 9,950 | ||||||||||||||||||||
Borrowings, interest rate | 59% | ||||||||||||||||||||
Borrowings, maturity date | April 30, 2024 | ||||||||||||||||||||
Loan Agreement With Banco Santander International [Member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Interest Amount Paid | $ 58 | $ 53 | $ 72 | $ 112 | |||||||||||||||||
Duplicar Plus Project [Member] | Non-adjusting events [member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Settlement of liabilities on behalf of entity by related party, related party transactions | $ 19,492 | ||||||||||||||||||||
Project To Expand Puerto Rosales Maritime Terminal And Pumping Station [Member] | Non-adjusting events [member] | Vista Argentina [member] | |||||||||||||||||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||||||||||||||||
Settlement of liabilities on behalf of entity by related party, related party transactions | $ 7,773 |