Vista Energy B de C : Unaudited interim condensed consolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six month periods ended June 30, 2024 and 2023 Form 6 K

July 11, 2024 at 04:12 pm EDT

Unaudited interim condensed consolidated financial statements as of June 30, 2024 and

December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

TABLE OF CONTENTS

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Unaudited interim condensed consolidated statements of profit or loss and other comprehensive income for the six-month periods ended June 30, 2024 and 2023

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Unaudited interim condensed consolidated statements of financial position as of June 30, 2024 and December 31, 2023

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Unaudited interim condensed consolidated statements of changes in equity for the six-month periods ended June 30, 2024 and 2023

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Unaudited interim condensed consolidated statements of cash flows for the six-month periods ended June 30, 2024 and 2023

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Notes to the unaudited interim condensed consolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of profit or loss and other comprehensive income for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars)


	Notes	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023			Period from April 1, through June 30, 2024		Period from April 1, through June 30, 2023
Revenue from contracts with customers	4		714,067				556,818			396,715			239,628
Cost of sales:
Operating costs	5.1		(48,356	)			(50,491	)		(26,738	)		(20,347	)
Crude oil stock fluctuation	5.2		4,863				(2,592	)		3,654			2,130
Depreciation, depletion and amortization	12/13/14		(183,378	)			(126,819	)		(101,005	)		(62,447	)
Royalties and others	5.3		(101,572	)			(85,565	)		(56,790	)		(36,593	)
Other non-cash costs related to the transfer of conventional assets		(16,897	)			(9,398	)		(7,792	)		(6,165	)

Gross profit		368,727				281,953			208,044			116,206

Selling expenses	6		(40,979	)			(31,949	)		(22,140	)		(15,232	)
General and administrative expenses	7		(44,500	)			(36,787	)		(22,390	)		(19,776	)
Exploration expenses	8		(33	)			(516	)		(2	)		(294	)
Other operating income	9.1		26,484				96,324			16,987			2,268
Other operating expenses	9.2		(1,023	)			292			(908	)		(4	)

Operating profit		308,676				309,317			179,591			83,168

Interest income	10.1		1,800				503			1,319			216
Interest expense	10.2		(16,116	)			(11,363	)		(11,219	)		(5,226	)
Other financial income (expense)	10.3		(22,760	)			(34,282	)		(130	)		(19,967	)

Financial income (expense), net		(37,076	)			(45,142	)		(10,030	)		(24,977	)

Profit before income tax		271,600				264,175			169,561			58,191

Current income tax (expense)	15		(169,402	)			(54,585	)		(105,613	)		(7,017	)
Deferred income tax benefit (expense)	15		116,093				(28,675	)		75,692			1,007

Income tax (expense)		(53,309	)			(83,260	)		(29,921	)		(6,010	)

Profit for the period, net		218,291				180,915			139,640			52,181

Other comprehensive income
Other comprehensive income that shall not be reclassified to profit (loss) in subsequent periods
- Profit (loss) from actuarial remeasurement related to employee benefits	25		66				(1,079	)		17			(1,188	)
- Deferred income tax (expense) benefit	15		(23	)			377			(6	)		415

Other comprehensive income that shall not be reclassified to profit in subsequent periods, net of taxes		43				(702	)		11			(773	)

Total comprehensive profit for the period		218,334				180,213			139,651			51,408

Earnings per share
Basic (in US Dollars per share)	11		2.266				1.962			1.444			0.553
Diluted (in US Dollars per share)	11		2.183				1.844			1.390			0.519

Notes 1 through 29 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of financial position as of June 30, 2024 and December 31, 2023

(Amounts expressed in thousands of US Dollars)


	Notes	As of June 30, 2024		As of December 31, 2023
Assets
Noncurrent assets
Property, plant and equipment	12		2,339,417			1,927,759
Goodwill	13		22,576			22,576
Other intangible assets	13		9,808			10,026
Right-of-use assets	14		61,832			61,025
Investments in associates		9,085			8,619
Trade and other receivables	16		155,415			136,351
Deferred income tax assets		3,828			5,743

Total noncurrent assets		2,601,961			2,172,099

Current assets
Inventories	18		9,513			7,549
Trade and other receivables	16		280,332			205,102
Cash, bank balances and other short-term investments	19		328,241			213,253

Total current assets		618,086			425,904

Total assets		3,220,047			2,598,003

Equity and liabilities
Equity
Capital stock	20.1		467,893			517,874
Other equity instruments		32,144			32,144
Legal reserve		8,233			8,233
Share-based payments		29,571			42,476
Share repurchase reserve		79,324			79,324
Other accumulated comprehensive income (losses)		(4,384	)		(4,427	)
Accumulated profit (losses)		789,682			571,391

Total equity		1,402,463			1,247,015

Liabilities
Noncurrent liabilities
Deferred income tax liabilities		265,143			383,128
Lease liabilities	14		31,120			35,600
Provisions	21		17,207			12,339
Borrowings	17.1		699,909			554,832
Employee benefits	25		5,627			5,703

Total noncurrent liabilities		1,019,006			991,602

Current liabilities
Provisions	21		3,958			4,133
Lease liabilities	14		23,525			34,868
Borrowings	17.1		205,082			61,223
Salaries and payroll taxes	22		14,794			17,555
Income tax liability		151,747			3
Other taxes and royalties	23		32,024			36,549
Trade and other payables	24		367,448			205,055

Total current liabilities		798,578			359,386

Total liabilities		1,817,584			1,350,988

Total equity and liabilities		3,220,047			2,598,003

Notes 1 through 29 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statement of changes in equity for the six-month period ended June 30, 2024

(Amounts expressed in thousands of US Dollars)


	Capital stock			Other equity instruments		Legal reserve	Share-based payments	Share repurchase reserve			Other accumulated comprehensive income (losses)		Accumulated profit (losses)	Total equity
Amounts as of December 31, 2023		517,874			32,144		8,233		42,476			79,324		(4,427	)	571,391	1,247,015

Profit for the period		-			-		-		-			-		-		218,291	218,291
Other comprehensive income for the period		-			-		-		-			-		43		-	43

Total comprehensive income		-			-		-		-			-		43		218,291	218,334

Share repurchase ⁽¹⁾		(49,982	)		-		-		-			-		-		-	(49,982	)
Share-based payments		1			-		-		(12,905	)⁽²⁾		-		-		-	(12,904	)

Amounts as of June 30, 2024		467,893			32,144		8,233		29,571			79,324		(4,384	)	789,682	1,402,463

⁽¹⁾	See Note 20.1.

⁽²⁾	Including 16,423 share-based payments (Note 7), net of tax charges.

Notes 1 through 29 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statement of changes in equity for the six-month period ended June 30, 2023

(Amounts expressed in thousands of US Dollars)


	Capital stock		Other equity instruments		Legal reserve	Share-based payments	Share repurchase reserve			Other accumulated comprehensive income (losses)		Accumulated profit (losses)	Total equity
Amounts as of December 31, 2022		517,873		32,144		2,603		40,744			49,465		(8,694	)	209,925	844,060

Profit for the period		-		-		-		-			-		-		180,915	180,915
Other comprehensive income for the period		-		-		-		-			-		(702	)	-	(702	)

Total comprehensive income		-		-		-		-			-		(702	)	180,915	180,213

Share-based payments		1		-		-		(4,404	)⁽¹⁾		-		-		-	(4,403	)

Amounts as of June 30, 2023		517,874		32,144		2,603		36,340			49,465		(9,396	)	390,840	1,019,870

⁽¹⁾	Including 13,250 share-based payments (Note 7), net of tax charges.

Notes 1 through 29 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of cash flows for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars)


	Notes	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023			Period from April 1, through June 30, 2024		Period from April 1, through June 30, 2023
Cash flows from operating activities:
Profit for the period, net		218,291				180,915			139,640			52,181
Adjustments to reconcile net cash flows
Items related to operating activities:
Other non-cash costs related to the transfer of conventional assets		16,897				9,398			7,792			6,165
Share-based payments	7		16,423				13,250			9,780			8,211
Net increase (decrease) in provisions	9.2		1,023				(568	)		908			(1	)
Net changes in foreign exchange rate	10.3		11,779				(4,022	)		(509	)		2,548
Discount for well plugging and abandonment	10.3		540				1,115			286			616
Interest expense on lease liabilities	10.3		1,614				1,492			756			1,104
Discount of assets and liabilities at present value	10.3		(55	)			3,467			316			2,758
Income tax expense	15		53,309				83,260			29,921			6,010
Employee benefits	25		157				(52	)		76			(205	)
Items related to investing activities:
Gain related to the transfer of conventional assets	9.1		-				(89,659	)		-			-
Gain from farmout agreement	9.1		-				(5,656	)		-			-
Interest income	10.1		(1,800	)			(503	)		(1,319	)		(216	)
Changes in the fair value of financial assets	10.3		2,087				(7,379	)		(6,548	)		(10,581	)
Depreciation and depletion	12/14		180,732				124,882			99,647			61,448
Amortization of intangible assets	13		2,646				1,937			1,358			999
Items related to financing activities:
Interest expense	10.2		16,116				11,363			11,219			5,226
Amortized cost	10.3		684				943			367			579
Remeasurement in borrowings	10.3		-				32,452			-			18,762
Other financial income (expense)	10.3		6,111				6,214			5,462			4,181
Changes in working capital:
Trade and other receivables		(136,331	)			(25,694	)		(19,797	)		(12,840	)
Inventories	5.2		(4,863	)			2,592			(3,654	)		(2,130	)
Trade and other payables		12,605				8,057			16,459			3,975
Payments of employee benefits	25		(167	)			(139	)		(110	)		(64	)
Salaries and payroll taxes		(31,898	)			(29,566	)		3,001			(3,674	)
Other taxes and royalties		(13,815	)			(31,067	)		(5,068	)		(19,049	)
Provisions		(841	)			(890	)		(747	)		(361	)
Income tax payment		(16,586	)			(38,100	)		(7,823	)		(36,363	)

Net cash flows provided by operating activities		334,658				248,042			281,413			89,279

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of cash flows for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars)


	Notes	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023			Period from April 1, through June 30, 2024		Period from April 1, through June 30, 2023
Cash flows from investing activities:
Payments for acquisitions of property, plant and equipment		(419,856	)			(294,751	)		(272,202	)		(161,803	)
Payments for the acquisition of AFBN assets		-				(12,500	)		-			(6,250	)
Payments for other assets		-				(5,008	)		-			(5,008	)
Payments for acquisitions of other intangible assets	13		(2,428	)			(2,360	)		(1,679	)		(1,520	)
Payments for acquisitions of investments in associates		(466	)			(532	)		(594	)		-
Proceeds from farmout agreement	9.1		-				6,250			-			-
Proceeds from the transfer of conventional assets		10,734				10,000			-			-
Interest received	10.1		1,800				503			1,319			216

Net cash flows (used in) investing activities		(410,216	)			(298,398	)		(273,156	)		(174,365	)

Cash flows from financing activities:
Proceeds from borrowings	17.2		342,293				148,500			246,417			13,500
Payment of borrowings cost	17.2		(923	)			(1,312	)		(566	)		(584	)
Payment of borrowings principal	17.2		(56,537	)			(47,774	)		(11,537	)		(25,274	)
Payment of borrowings interest	17.2		(10,102	)			(11,899	)		(4,424	)		(4,022	)
Payment of lease	14		(21,927	)			(20,131	)		(10,916	)		(10,237	)
Share repurchase	20.1		(49,982	)			-			(49,982	)		-
Payments of other financial expense	10.3		(7,390	)			(5,395	)		(6,457	)		(3,362	)

Net cash flow provided by (used in) financing activities		195,432				61,989			162,535			(29,979	)

Net increase (decrease) in cash and cash equivalents		119,874				11,633			170,792			(115,065	)
Cash and cash equivalents at beginning of the period	19		209,516				241,956			144,762			347,665
Effect of exposure to changes in the foreign currency rate and other financial results of cash and cash equivalents		(7,828	)			(33,912	)		6,008			(12,923	)
Net increase (decrease) in cash and cash equivalents		119,874				11,633			170,792			(115,065	)

Cash and cash equivalents at end of the period	19		321,562				219,677			321,562			219,677

Significant transactions that generated no cash flows
Acquisition of property, plant and equipment through increase in trade and other payables		299,950				167,683			299,950			167,683
Changes in well plugging and abandonment with an impact in property, plant and equipment	12		4,662				(3,272	)		3,061			(368	)
Disposal for transfer of conventional assets through increase in trade and other receivables		-				(116,071	)		-			-

Notes 1 through 29 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 1. Group information

1.1 Company general information, structure and activities

Vista Energy, S.A.B. de C.V. ("VISTA", the "Company" or the "Group"), formerly known asVista Oil & Gas, S.A.B. de C.V., was organized as a 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.

It is listed on the New York Stock Exchange ("NYSE") under ticker symbol "VIST" as from July 26, 2019.

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.

Through its subsidiaries, the Company engages in oil and gas exploration and production (upstream segment).

These unaudited interim condensed consolidated financial statements were approved for publication by the Board of Directors on July 11, 2024.

There were no changes in the Group's structure and activities as from the date of issuance of the annual consolidated financial statements as of December 31, 2023.

Note 2. Basis of preparation and material accounting policies

2.1 Bases of preparation and presentation

The unaudited interim condensed consolidated financial statements as of June 30, 2024 and December 31, 2023, and for the six-month periods ended June 30, 2024 and 2023 were prepared in accordance with the International Accounting Standard ("IAS") 34 - "Interim Financial Reporting", issued by the International Accounting Standards Board ("IASB"). The Company prepared its interim financial statements on a condensed basis pursuant to IAS 34. Certain explanatory notes are included to describe the events and transactions that are relevant to understand the changes in the financial position as of June 30, 2024, and the results of operations for the six-month period ended June 30, 2024. Therefore, these interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read together with the annual consolidated financial statements as of December 31, 2023.

These unaudited interim condensed consolidated financial statements were prepared using the same accounting policies as used in preparing the Company's consolidated financial statements as of December 31, 2023, except for the income tax expense that is recognized in each interim period based on the best estimate of the weighted average annual income tax rate expected for the full financial year.

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.

2.2 New effective accounting standards, amendments and interpretations issued by the IASB adopted by the Company

The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.

2.3 Basis of consolidation

These unaudited interim condensed consolidated financial statements contain the financial statements of the Company and its subsidiaries. There were no changes in interest in Company subsidiaries during the six-month period ended June 30, 2024.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

2.4 Summary of material accounting policies

2.4.1 Impairment testing of goodwill and 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 Cash Generating Units ("CGUs").

As of June 30, 2024, and December 31, 2023, the Company identified 2 (two) CGUs in Argentina: (i) operated exploitation concessions of unconventional oil and gas exploration and production; and (ii) non-operating concessions of conventional oil and gas exploration and production.

The Company also identified only 1 (one) CGUs in Mexico: (i) operated exploitation concessions of conventional oil and gas exploration and production, as of June 30, 2024, and December 31, 2023.

The Company conducts its impairment test of nonfinancial assets when there is an indication that the carrying amount may be impaired. Moreover, Goodwill is tested every December. The Company bases the impairment test on the calculation of value in use and reviews the relationship between the recoverable amount and the carrying amount of its assets.

As of June 30, 2024, the Company did not identify indications of impairment or reversal of impairment related with goodwill and nonfinancial assets other than goodwill.

2.5 Regulatory framework

A- Argentina

2.5.1 General

2.5.1.1 Exports Increase Program

For the six-month period ended June 30, 2024, the Company recognized 20,910 in "Other operating income" under "Gain from Exports Increase Program" (Note 9.1). See Note 2.5.1.1 to the annual consolidated financial statements as of December 31, 2023.

2.5.1.2 Bases Law and Fiscal Package

On June 28, 2024, Argentina's House of Representatives approved Law of Bases and Points of Departure for the Freedom of Argentineans No. 27,742, as well as Law of Palliative and Relevant Tax Measures No. 27,743; jointly, the "Bases Law and Fiscal Package". These laws are part of the Argentine Executive's initiative to deregulate the Argentine economy and adjust the State's operation and structure. Among its key measures, the Bases Law and Fiscal Package declare a public administrative, economic, financial, and energetic emergency for a year, and grant the Executive delegated legislative powers. Additionally, they include several reforms aimed at promoting registered employment and introduce a package of tax and social security measures, among others.

Hydrocarbons Law (No. 17,319) was also amended as follows:

(i) It introduces the principle of maximizing corporate profit from the exploitation of resources as it removes the concept of hydrocarbon self-supply previously in place;

(ii) It authorizes the National or Provincial Executive, as the case may be, to issue storage permits and authorizations for hydrocarbon processing in compliance with Law No. 17,319;

(iii) It grants producers rights to trade, transport, and industrialize hydrocarbons produced and by-products, and prevents the National Executive from intervening or setting prices;

(iv) It allows for the free export and import of hydrocarbons and by-products. It also eliminates the Department of Energy's authority to challenge export permits;

(v) It amends the acquisition system and terms for unconventional concessions following the reconversion of conventional concessions;

(vi) It authorizes the regulatory authority to grant concessions for terms other than those established in Hydrocarbons Law;

(vii) It revises the extension system for new concessions;

(viii) It mandates that new concessions be awarded through a bidding process upon expiration of existing concessions.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

The Bases Law also sets forth the creation of an Incentive Regime for Large Investments (the "RIGI" by Spanish acronym), which provides stability and offers tax, customs, and foreign exchange benefits for projects in various sectors, including the energy and oil & gas, subject to specific conditions.

On July 8, 2024, the Bases Law and Fiscal Package were enacted through Presidential Decrees No. 592/2024 and No. 593/2024, respectively, published in the Official Bulletin.

As of the date of issue of these consolidated condensed interim financial statements, Management is assessing the impact of these new regulations on current operations and development plans in Argentina.

2.5.2 Gas market

2.5.2.1 Argentine promotion plan to stimulate natural gas production: 2020-2024 supply and demand system ("Gas IV Plan")

For the six-month period ended June 30, 2024 and 2023, the Company received a net amount of 326 and 3,025, respectively.

As of June 30, 2024, and December 31, 2023, the receivables related to such plan stand at 3,613 and 1,245, respectively (Note 16).

Other than mentioned above, there have been no significant changes in Argentina's regulatory framework for the six-month period ended June 30, 2024 (see Note 2.5 to the annual consolidated financial statements as of December 31, 2023).

B- Mexico

There have been no significant changes in Mexico's regulatory framework during the six-month period ended June 30, 2024 (see Note 2.5 to the annual consolidated financial statements as of December 31, 2023).

2.6 Comparative Information

As of December 31, 2023 the Company has made a change in the "Export Duties" presentation in the "Royalties and others" (Note 5.3), which was previously included in "Revenues from contract with customers".

The comparative information for the six-month period ended June 30, 2023, has been reclassified to ensure consistent filing with the unaudited interim condensed consolidated financial statements as of June 30, 2024.

"Revenues from contract with customers" and "Royalties and others" increased by 22,630 for the six-month periods ended June 30, 2023. These changes had no effect on the net profit for the six-month period ended June 30, 2023.

Note 3. Segment information

The Chief Operating Decision Maker (the "Committee" or "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 Exploration and Production 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 six-month periods ended June 30, 2024, and 2023, 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 unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

The following chart summarizes noncurrent assets per geographical area:


	As of June 30, 2024		As of December 31, 2023
Argentina		2,554,569		2,122,735
Mexico		47,392		49,364

Total noncurrent assets		2,601,961		2,172,099

Note 4. Revenue from contracts with customers

Type of products

Period from
January 1,
through
June 30, 2024

Period from
January 1,
through
June 30, 2023

Period from
April 1,
through
June 30, 2024

Period from
April 1,
through
June 30, 2023

Goods sold

714,067

556,818

396,715

239,628

Total revenue from contracts with customers

714,067

556,818

396,715

239,628

Recognized at a point in time

714,067

556,818

396,715

239,628

4.1 Information broken down by revenue from contracts with customers


Type of products	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Revenues from crude oil sales		677,173		515,497		374,688	221,584
Revenues from natural gas sales		36,417		38,854		21,751	16,987
Revenues from LPG sales		477		2,467		276	1,057

Total revenue from contracts with customers		714,067		556,818		396,715	239,628


Distribution channels	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Local crude oil for refineries		388,606		214,910		214,585	103,987
Exports of crude oil		288,567		300,587		160,103	117,597
Exports of natural gas		13,093		15,913		5,948	3,191
Local natural gas for industries		8,614		11,527		5,494	5,578
Local natural gas for retail distribution companies		8,323		7,197		6,235	5,471
Local natural gas for electric power generation		6,387		4,217		4,074	2,747
LPG sales		477		2,467		276	1,057

Total revenue from contracts with customers		714,067		556,818		396,715	239,628

Note 5. Cost of sales

5.1 Operating costs


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Fees and compensation for services		25,732		27,103		13,815	10,357
Salaries and payroll taxes		11,760		10,047		6,433	5,106
Employee benefits		3,746		2,891		2,251	1,273
Consumption of materials and spare parts		1,959		3,001		1,225	579
Easements and fees		1,486		2,576		828	786
Transport		1,456		3,195		846	1,712
Other		2,217		1,678		1,340	534

Total operating costs		48,356		50,491		26,738	20,347

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

5.2 Crude oil stock fluctuation


	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Crude oil stock at beginning of the period (Note 18)		2,664			4,722		3,873		-
Less: Crude oil stock at end of the period (Note 18)		(7,527	)		(2,130	)	(7,527	)	(2,130	)

Total crude oil stock fluctuation		(4,863	)		2,592		(3,654	)	(2,130	)

Note 5.3 Royalties and others


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Royalties		80,200		62,935		44,972	27,940
Export duties		21,372		22,630		11,818	8,653

Total royalties and others		101,572		85,565		56,790	36,593

Note 6. Selling expenses


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Transport		18,377		15,392		9,706	6,276
Taxes, rates and contributions		12,450		7,632		6,855	3,837
Tax on bank account transactions		5,433		4,826		2,974	2,585
Fees and compensation for services		4,719		4,099		2,605	2,534

Total selling expenses		40,979		31,949		22,140	15,232

Note 7. General and administrative expenses


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Salaries and payroll taxes		16,814		13,029		7,100	6,242
Share-based payments		16,423		13,250		9,780	8,211
Fees and compensation for services		5,307		5,231		2,160	2,715
Employee benefits		2,413		1,898		1,511	930
Institutional promotion and advertising		739		1,061		410	518
Taxes, rates and contributions		179		616		50	353
Other		2,625		1,702		1,379	807

Total general and administrative expenses		44,500		36,787		22,390	19,776

Note 8. Exploration expenses


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Geological and geophysical expenses		33		516		2	294

Total exploration expenses		33		516		2	294

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 9. Other operating income and expenses

9.1 Other operating income


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Gain from Exports Increase Program		20,910		-		13,469	-
Other services income ⁽¹⁾		5,574		1,009		3,518	2,268
Gain related to the transfer of conventional assets⁽²⁾		-		89,659		-	-
Gain from farmout agreement ⁽³⁾		-		5,656		-	-

Total other operating income		26,484		96,324		16,987	2,268

⁽¹⁾	Services not directly related to the Company's main activity.

⁽²⁾	See Note 1.2.1 to the annual consolidated financial statements as of December 31, 2023.

⁽³⁾

For the six-month period ended June 30, 2023, including 6,250 of payments received by Trafigura Argentina S.A., related to the farmout agreement celebrated on June 28, 2021 ("farmout agreement I"), net of disposals of oil and gas properties and goodwill for 551, and 43, respectively. (See Note 29.2.1.1 to the annual consolidated financial statements as of December 31, 2023).

9.2 Other operating expenses


	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
(Provision for) environmental remediation ⁽¹⁾		(157	)		(386	)	(13	)	(64	)
(Provision for) Reversal of provision for materials and spare parts obsolescence ⁽¹⁾		(270	)		944		(361	)	65
(Provision for) Reversal of contingencies ⁽¹⁾		(596	)		10		(534	)	-
Restructuring and reorganization expenses ⁽²⁾		-			(276	)	-		(5	)

Total other operating expenses		(1,023	)		292		(908	)	(4	)

⁽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.

Note 10. Financial income (expense), net

10.1 Interest income

Period from
January 1,
through
June 30, 2024

Period from
January 1,
through
June 30, 2023

Period from
April 1,
through
June 30, 2024

Period from
April 1,
through
June 30, 2023

Financial interest

1,800

503

1,319

216

Total interest income

1,800

503

1,319

216

10.2 Interest expense


	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Borrowings interest (Note 17.2)		(16,116	)		(11,363	)	(11,219	)	(5,226	)

Total interest expense		(16,116	)		(11,363	)	(11,219	)	(5,226	)

10.3 Other financial income (expense)


	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Amortized cost (Note 17.2)		(684	)		(943	)	(367	)	(579	)
Net changes in foreign exchange rate		(11,779	)		4,022		509		(2,548	)
Discount of assets and liabilities at present value		55			(3,467	)	(316	)	(2,758	)

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)


	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Changes in the fair value of financial assets		(2,087	)		7,379		6,548		10,581
Interest expense on lease liabilities (Note 14)		(1,614	)		(1,492	)	(756	)	(1,104	)
Discount for well plugging and abandonment		(540	)		(1,115	)	(286	)	(616	)
Remeasurement in borrowings ⁽¹⁾		-			(32,452	)	-		(18,762	)
Other ⁽²⁾		(6,111	)		(6,214	)	(5,462	)	(4,181	)

Total other financial income (expense)		(22,760	)		(34,282	)	(130	)	(19,967	)

⁽¹⁾	Related to borrowings in purchasing value units ("UVA", by Spanish acronym) adjusted by the benchmark stabilization coefficient ("CER", by its Spanish acronym) (Note 17.2).

⁽²⁾	For the six-month period ended June 30, 2024, including 1,279 of non-cash expense. For the six-month period ended June 30, 2023, including 819 from loss for negotiable obligations ("ON", by Spanish acronym) swapping. See Note 17.1 and 17.2.

Note 11. Earnings per share

Basic

Basic earnings per share is calculated by dividing the Company's profit by the weighted average number of ordinary shares outstanding during the period.


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Profit for the period, net		218,291		180,915		139,640	52,181
Weighted average number of ordinary shares		96,333,092		92,193,180		96,690,120	94,424,048

Basic earnings per share		2.266		1.962		1.444	0.553

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 period, 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 period, no dilution effect is booked, as diluted earnings per share is equal to basic earnings per share.


	Period from January 1, through June 30, 2024		Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Profit for the period, net		218,291		180,915		139,640	52,181
Weighted average number of ordinary shares ⁽¹⁾		100,008,628		98,098,245		100,456,945	100,457,519

Diluted earnings per share		2.183		1.844		1.390	0.519

⁽¹⁾	As of June 30, 2024, the Company has 96,214,730 outstanding shares (Note 20.1) 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 100,008,628.

As of June 30, 2024, the Company holds 5,546,287 Series A shares to be used in the Long-Term Incentive Plan ("LTIP"), that, on the date of this unaudited interim condensed 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.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 12. Property, plant and equipment

The changes in property, plant and equipment for the six- month period ended June 30, 2024 are as follows:


	Land and buildings			Vehicles, machinery, facilities, computer hardware and furniture and fixtures		Oil and gas properties	Production wells and facilities		Works in progress			Materials and spare parts		Total
Cost
Amounts as of December 31, 2023		12,574			43,524		498,707			2,036,644			123,015		44,955		2,759,419
Additions		-			-		-			4,662	⁽¹⁾		462,515		120,945		588,122
Transfers		700			1,336		-			395,259			(298,892	)	(98,403	)	-
Disposals		-			(480	)	-			-			-		-		(480	)

Amounts as of June 30, 2024		13,274			44,380		498,707			2,436,565			286,638		67,497		3,347,061

Accumulated depreciation
Amounts as of December 31, 2023		(232	)		(15,239	)	(80,655	)		(735,534	)		-		-		(831,660	)
Depreciation		-			(2,770	)	(8,912	)		(164,561	)		-		-		(176,243	)
Disposals			259			-		-			-			-		259

Amounts as of June 30, 2024		(232	)		(17,750	)	(89,567	)		(900,095	)		-		-		(1,007,644	)

Net value
Amounts as of June 30, 2024		13,042			26,630		409,140			1,536,470			286,638		67,497		2,339,417

Amounts as of December 31, 2023		12,342			28,285		418,052			1,301,110			123,015		44,955		1,927,759

⁽¹⁾	Related to the re-estimation of well plugging and abandonment. This transaction did not generate cash flows.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 13. Goodwill and other intangible assets

Below are the changes in goodwill and other intangible assets for the six-month period ended June 30, 2024:


	Goodwill		Other intangible assets
Cost
Amounts as of December 31, 2023		22,576		24,396
Additions		-		2,428

Amounts as of June 30, 2024		22,576		26,824

Accumulated amortization
Amounts as of December 31, 2023		-		(14,370	)
Amortization		-		(2,646	)

Amounts as of June 30, 2024		-		(17,016	)

Net value

Amounts as of June 30, 2024		22,576		9,808

Amounts as of December 31, 2023		22,576		10,026

Note 14. Right-of-use assets and lease liabilities

The carrying amount of the Company's right-of-use assets and lease liabilities, as well as the changes for the six-month period ended June 30, 2024, are detailed below:


	Right-of-use assets			Total lease liabilities
	Buildings			Plant and machinery		Total
Amounts as of December 31, 2023		388			60,637		61,025		(70,468	)
Reestimation		1,373			853		2,226		(2,299	)
Additions		14,292			-		14,292		-
Depreciation ⁽¹⁾		(336	)		(15,375	)	(15,711	)	-
Payments		-			-		-		21,927
Interest expense ⁽²⁾		-			-		-		(3,805	)

Amounts as of June 30, 2024		15,717			46,115		61,832		(54,645	)

⁽¹⁾	Including the depreciation of drilling services capitalized as "Works in progress" for 11,222.

⁽²⁾	Including drilling agreements capitalized as "Works in progress" for 2,191.

Short-term and low-value lease agreements were recognized under "General and administrative expenses" in the statements of profit or loss and other comprehensive income for 56 and 38 for the six-month periods ended June 30, 2024 and 2023, respectively.

Note 15. Income tax

The most significant components of the income tax expense in the statements of profit or loss and other comprehensive income of these interim condensed consolidated financial statements are as follows:


	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Income tax
Current income tax		(169,402	)		(54,585	)	(105,613	)	(7,017	)
Deferred income tax		116,093			(28,675	)	75,692		1,007

Income tax (expense) charged to statement of profit or loss		(53,309	)		(83,260	)	(29,921	)	(6,010	)

Deferred income tax charged to other comprehensive income		(23	)		377		(6	)	415

Total income tax (expense)		(53,332	)		(82,883	)	(29,927	)	(5,595	)

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

For the six-month period ended June 30, 2024, the Company's effective rate was 20%. 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. (See Note 30 to the annual consolidated financial statements as of December 31, 2023).

Note 16. Trade and other receivables


	As of June 30, 2024		As of December 31, 2023
Noncurrent
Other receivables:
Prepayments, tax receivables and other:
Midstream prepaid expenses ⁽¹⁾		95,307			34,660
Receivables related to the transfer of conventional assets ⁽²⁾		44,824			70,526
Prepaid expenses and other receivables		12,523			27,414
Turnover tax		190			5
Value added tax ("VAT")		-			462

	152,844			133,067
Financial assets:
Receivables from joint operations		2,301			2,936
Loans to employees		270			348

	2,571			3,284

Total noncurrent trade and other receivables		155,415			136,351

Current Trade:
Oil and gas accounts receivable (net of allowance for expected credit losses)		112,595			59,787

	112,595			59,787
Other receivables:
Prepayments, tax credits and other:
Receivables related to the transfer of conventional assets		80,753			86,043
VAT		41,403			19,713
Prepaid expenses and other receivables		14,881			9,381
Income tax		12,922			13,409
Turnover tax		327			385

	150,286			128,931
Financial assets:
Accounts receivable from third parties		7,478			7,804
Receivables from joint operations		5,264			6,581
Gas IV Plan (Note 2.5.2.1)		3,613			1,245
Advances to directors and loans to employees		578			557
Other		518			197

	17,451			16,384

Other receivables		167,737			145,315

Total current trade and other receivables		280,332			205,102

⁽¹⁾	Related to the Duplicar Plus Project implemented by Oleoductos del Valle S.A. and the project to expand the Puerto Rosales maritime terminal and pumping station implemented by Oiltanking Ebytem S.A. (See Note 28.1 and 28.2 to the annual consolidated financial statements as of December 31, 2023)

⁽²⁾	See Note 1.2.1 to the annual consolidated financial statements as of December 31, 2023.

Due to the short-term nature of current trade and other receivables, it carrying amount is considered similar to its fair value. The fair values of noncurrent trade and other receivables do not differ significantly from it carrying amounts either.

As of June 30, 2024, in general, accounts receivable has a 19-day term for sales of crude oil and a 50-day term for sales of natural gas and LPG.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

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 days past due because based on its history these receivables are generally not recovered.

As of June 30, 2024, and December 31, 2023, an allowance for expected credit losses was recorded in trade and other receivables for 46 and 52 respectively.

As of the date of these interim condensed consolidated financial statements, maximum exposure to credit risk is related to the carrying amount of each class of accounts receivable.

Note 17. Financial assets and liabilities

17.1 Borrowings


	As of June 30, 2024		As of December 31, 2023
Noncurrent
Borrowings		699,909		554,832

Total noncurrent		699,909		554,832

Current
Borrowings		205,082		61,223

Total current		205,082		61,223

Total Borrowings		904,991		616,055

Below are the maturity dates of Company borrowings (excluding lease liabilities) and their exposure to interest rates:


	As of June 30, 2024		As of December 31, 2023
Fixed interest
Less than 1 year		204,231		60,373
From 1 to 2 years		232,174		81,900
From 2 to 5 years		392,379		392,550
Over 5 years		50,356		55,382

Total		879,140		590,205

Variable interest
Less than 1 year		851		850
From 1 to 2 years		-		-
From 2 to 5 years		25,000		25,000
Over 5 years		-		-

Total		25,851		25,850

Total Borrowings		904,991		616,055

See Note 17.4 for information on the fair value of the borrowings.

The carrying amount of borrowings as of June 30, 2024 and December 31, 2023 of the Company through its subsidiary Vista Argentina, is as follows:

Company

Execution date

Currency

Principal

Interest

Annual
rate

Maturity date

As of
June
30, 2024

As of
December
31, 2023

Santander

International

January, 2021

USD

11,700

Fixed

1.80

January, 2026

⁽¹⁾⁽³⁾

⁽¹⁾

Santander

International

July, 2021

USD

43,500

Fixed

2.05

July, 2026

⁽¹⁾⁽³⁾

⁽¹⁾

Santander

International

January, 2022

USD

13,500

Fixed

2.45

January, 2027

⁽¹⁾⁽³⁾

⁽¹⁾

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Company

Execution
date

Currency

Principal

Interest

Annual
rate

Maturity date

As of
June
30, 2024

As of
December
31, 2023

ConocoPhillips Company

January, 2022

USD

25,000

Variable

SOFR ⁽²⁾

+ 2.01%

September, 2026

25,851

25,850

Citibank. N.A.

April, 2024

USD

45,000

Fixed

5.00%

April, 2026

45,383

Banco BBVA Argentina

April, 2024

ARS⁽⁴⁾

7,000,000

Fixed

55.00%

November, 2024

8,022

Banco Ciudad de Buenos Aires

May, 2024

USD

12,000

Fixed

2.50%

November, 2024

12,032

Banco Macro

May, 2024

ARS⁽⁴⁾

7,000,000

Fixed

39.00%

August, 2024

7,954

Banco Santander Argentina

May, 2024

ARS⁽⁴⁾

15,000,000

Fixed

41.22%

November, 2024

17,172

Banco BBVA Argentina

May, 2024

ARS⁽⁴⁾

10,000,000

Fixed

43.40%

December, 2024

11,395

Banco Provincia de Buenos Aires

May, 2024

ARS⁽⁴⁾

17,000,000

Fixed

27.00%

July, 2024

19,178

Banco Santander Argentina

June, 2024

ARS⁽⁴⁾

40,000,000

Fixed

43.00%

December, 2024

45,048

Banco Santander Argentina

June, 2024

ARS⁽⁴⁾

2,000,000

Fixed

41.22%

November, 2024

2,250

Total

194,422

26,025

⁽¹⁾	The carrying amount is related to interest, and the principal is collateralized.

⁽²⁾	Secured Overnight Financing Rate ("SOFR").

⁽³⁾	See Note 29.

⁽⁴⁾	Principalexpressed in thousands of ARS.

Moreover, Vista Argentina issued ON, under the name "Programa de Notas" approved by the National Securities Commission in Argentina ("CNV" by its Spanish acronym). The following chart shows the carrying amount of ON of June 30, 2024 and December 31, 2023:


Instrument		Execution date		Currency	Principal		Interest		Annual rate			Maturity date		As of June 30, 2024		As of December 31, 2023
ON VI		December, 2020		USD-linked ⁽¹⁾		10,000		Fixed			3.24	%		December, 2024		10,011			9,997
ON XI		August, 2021		USD-linked⁽¹⁾		9,230		Fixed			3.48	%		August, 2025		9,240			9,231
ON XII		August, 2021		USD-linked⁽¹⁾		100,769		Fixed			5.85	%		August, 2031		102,550			102,556
ON XIII		June, 2022		USD		43,500		Fixed			6.00	%		August, 2024		43,574			43,458
ON XIV		November, 2022		USD		40,511		Fixed			6.25	%		November, 2025		36,540			36,484
ON XV		December, 2022		USD		13,500		Fixed			4.00	%		January, 2025		13,506			13,476
ON XVI		December, 2022		USD-linked⁽¹⁾		63,450		Fixed			0.00	%		June, 2026		63,330			63,231
	May, 2023		USD-linked⁽¹⁾		40,785	⁽²⁾	Fixed			0.00	%		June, 2026		40,525			40,525
ON XVII		December, 2022		USD-linked⁽¹⁾		39,118		Fixed			0.00	%		December, 2026		38,976			38,948
ON XVIII		March, 2023		USD-linked⁽¹⁾		118,542		Fixed			0.00	%		March, 2027		118,067			117,979
ON XIX		March, 2023		USD-linked⁽¹⁾		16,458		Fixed			1.00	%		March, 2028		16,405			16,396
ON XX		June, 2023		USD		13,500		Fixed			4.50	%		July, 2025		13,415			13,357
ON XXI		August, 2023		USD-linked⁽¹⁾		70,000		Fixed			0.99	%		August, 2028		69,786			69,749
ON XXII		December, 2023		USD		14,669		Fixed			5.00	%		June, 2026		14,632			14,643
ON XXIII		March, 2024		USD		60,000		Fixed			6.50	%		March, 2027		40,510	⁽³⁾		-
	May, 2024		USD		32,203		Fixed			6.50	%		March, 2027		32,683
ON XXIV		May, 2024		USD		46,562		Fixed			8.00	%		May, 2029		46,819			-

					Total		710,569				590,030

					Total Borrowings		904,991				616,055

⁽¹⁾	Subscribed in USD, payable in ARS at the exchange rate applicable on maturity date.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

⁽²⁾	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 remind principal and interest. The Company recognized 819 related to the loss from the issuance of the swap mentioned (Note 10.3).

⁽³⁾	The carrying amount includes 20,000 ON repurchased by the Company.

See Note 29.

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.

17.2 Changes in liabilities from financing activities

Changes in the borrowings were as follows:


	As of June 30, 2024			As of December 31, 2023
Amounts at beginning of period		616,055			549,332
Proceeds from borrowings ⁽¹⁾		342,293			358,954
Borrowings interest ⁽²⁾ (Note 10.2)		16,116			21,879
Payment of borrowings cost		(923	)		(1,779	)
Payment of borrowings interest		(10,102	)		(22,993	)
Payment of borrowings principal ⁽¹⁾		(56,537	)		(252,284	)
Amortized cost ⁽²⁾ (Note 10.3)		684			1,810
Remeasurement in borrowings ⁽²⁾ (Note 10.3)		-			72,044
Changes in foreign exchange rate ⁽²⁾		(2,595	)		(111,727	)
Other financial expense ⁽³⁾ (Note 10.3)		-			819

Amounts at end of period		904,991			616,055

⁽¹⁾	As of December 31, 2023, proceeds of borrowings and payment of borrowings principal include 40,785 related to the ON swapping mentioned in Note 17.1. 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- settled by the Company.

17.3 Financial instruments by category

The following chart includes the financial instruments broken down by category:


As of June 30, 2024	Financial assets / liabilities at amortized cost		Financial assets / liabilities at fair value		Total financial assets / liabilities
Assets
Plan assets (Note 25)		-		4,819		4,819
Trade and other receivables (Note 16)		2,571		-		2,571

Total noncurrent financial assets		2,571		4,819		7,390

Cash, bank balances and other short-term investments (Note 19)		127,338		195,974		323,312
Trade and other receivables (Note 16)		130,046		-		130,046

Total current financial assets		257,384		195,974		453,358

Liabilities
Borrowings (Note 17.1)		699,909		-		699,909
Lease liabilities (Note 14)		31,120		-		31,120

Total noncurrent financial liabilities		731,029		-		731,029

Borrowings (Note 17.1)		205,082		-		205,082
Trade and other payables (Note 24)		367,448		-		367,448
Lease liabilities (Note 14)		23,525		-		23,525

Total current financial liabilities		596,055		-		596,055

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)


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 25)		-		5,438		5,438
Trade and other receivables (Note 16)		3,284		-		3,284

Total noncurrent financial assets		3,284		5,438		8,722

Cash, bank balances and other short-term investments (Note 19)		35,292		156,163		191,455
Trade and other receivables (Note 16)		76,171		-		76,171

Total current financial assets		111,463		156,163		267,626

Liabilities
Borrowings (Note 17.1)		554,832		-		554,832
Lease liabilities (Note 14)		35,600		-		35,600

Total noncurrent financial liabilities		590,432		-		590,432

Borrowings (Note 17.1)		61,223		-		61,223
Trade and other payables (Note 24)		205,055		-		205,055
Lease liabilities (Note 14)		34,868		-		34,868

Total current financial liabilities		301,146		-		301,146

Below are income, expenses, profit, or loss from each financial instrument:

For the six-month period ended June 30, 2024:


	Financial assets/liabilities at amortized cost			Financial assets/liabilities at fair value		Total financial assets / liabilities
Interest income (Note 10.1)		1,800			-		1,800
Interest expense (Note 10.2)		(16,116	)		-		(16,116	)
Amortized cost (Note 10.3)		(684	)		-		(684	)
Net changes in foreign exchange rate (Note 10.3)		(11,779	)		-		(11,779	)
Discount of assets and liabilities at present value (Note 10.3)		55			-		55
Changes in the fair value of financial assets (Note 10.3)		-			(2,087	)	(2,087	)
Interest expense on lease liabilities (Note 10.3)		(1,614	)		-		(1,614	)
Discount for well plugging and abandonment (Note 10.3)		(540	)		-		(540	)
Other (Note 10.3)		(6,111	)		-		(6,111	)

Total		(34,989	)		(2,087	)	(37,076	)

For the six-month period ended June 30, 2023:


	Financial assets/liabilities at amortized cost			Financial assets/liabilities at fair value		Total financial assets / liabilities
Interest income (Note 10.1)		503			-		503
Interest expense (Note 10.2)		(11,363	)		-		(11,363	)
Amortized cost (Note 10.3)		(943	)		-		(943	)
Net changes in foreign exchange rate (Note 10.3)		4,022			-		4,022
Discount of assets and liabilities at present value (Note 10.3)		(3,467	)		-		(3,467	)
Changes in the fair value of financial assets (Note 10.3)		-			7,379		7,379
Interest expense on lease liabilities (Note 10.3)		(1,492	)		-		(1,492	)
Discount for well plugging and abandonment (Note 10.3)		(1,115	)		-		(1,115	)
Remeasurement in borrowings (Note 10.3)		(32,452	)		-		(32,452	)
Other (Note 10.3)		(6,214	)		-		(6,214	)

Total		(52,521	)		7,379		(45,142	)

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

17.4 Fair value

This note includes information on the Company's method for assessing the fair value of its financial assets and liabilities.

17.4.1 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 data).

The following chart shows the Company's financial assets measured at fair value as of June 30, 2024 and December 31, 2023:


As of June 30, 2024	Level 1		Level 2		Level 3	Total
Assets
Financial assets at fair value through profit or loss
Plan assets		4,819		-		-	4,819
Short-term investments		195,974		-		-	195,974

Total assets		200,793		-		-	200,793


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

The value of financial instruments traded in active markets is based on quoted market prices as of the date of these accompanying unaudited interim condensed 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, Level 2 and Level 3 from December 31, 2023, through June 30, 2024.

17.4.2 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 interim condensed consolidated financial statements approximate to its fair values, as explained in the related notes.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

As of June 30, 2024

Carrying amount

Fair value

Level

Liabilities

Borrowings

904,991

801,324

Total liabilities

904,991

801,324

17.5 Risk management objectives and policies concerning financial instruments

17.5.1 Financial risk factors

The Company's activities are exposed to several financial risks: market risk (including exchange rate risk, interest rate risk and price 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 each period or as of every period-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.

The Company reviewed its exposure to financial risk factors and identified no significant changes in the risk analysis included in its annual consolidated financial statements as of December 31, 2023, except for the following:

17.5.1.1 Market risk

Exchange rate risk

The Company's financial position and results of operations are sensitive to exchange rate changes between USD and ARS. As of June, 30, 2024 and 2023, the Company performed foreign exchange currency transactions, and the impact in the results of the period is recognized in "Other financial income (expense)".

Most Company sales are denominated in USD, or the changes in sales follow the changes in USD listed price.

During the six-month period ended June 30, 2024 and 2023, ARS depreciated by about 13% and 45%, 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 June 30, 2024
Changes in exchange rate:		+/- 10	%
Effect on profit or loss before income taxes		3,366 /	(3,366)
Effect on equity before income taxes		3,366 /	(3,366)

Interest rate risk

For the six-month periods ended June 30, 2024, and 2023, the average market interest rate in Argentina was 74% and 83%, respectively.

The purpose of interest rate risk management is to minimize finance costs and limit the Company's exposure to interest rate increases.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

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 June 30, 2024, and December 31, 2023, about 3% and 4% of indebtedness was subject to variable interest rates, respectively.

For the six-month period ended June 30, 2024, and for the year ended December 31, 2023, the variable interest rate of loans denominated in USD stood at 9.50% and 9.32%, respectively.

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.

In the case of fixed rates and in view of current market conditions, the Company considers that the risk of an increase in interest rates is low; therefore, it does not expect substantial fixed rate debt risk.

For the six-month period ended June 30, 2024, and for the year ended December 31, 2023, the Company did not use derivative financial instruments to mitigate interest rate risks.

Note 18. Inventories


	As of June 30, 2024		As of December 31, 2023
Crude oil stock (Note 5.2)		7,527		2,664
Materials and spare parts		1,719		4,651
Assigned crude oil stock		267		234

Total inventories		9,513		7,549

Note 19. Cash, bank balances and other short-term investments


	As of June 30, 2024		As of December 31, 2023
Mutual funds		189,295		152,426
Money market funds		127,338		35,292
Government bonds		6,679		3,737
Cash in banks		4,929		21,798

Total cash, banks balances and other short-term investments		328,241		213,253

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 June 30, 2024			As of December 31, 2023
Cash, bank balances and other short-term investments		328,241			213,253
Less
Government bonds		(6,679	)		(3,737	)

Cash and cash equivalents		321,562			209,516

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 20. Equity

20.1 Capital stock

The following chart shows a reconciliation of the movements in the Company's capital stock for the six-month period ended June 30, 2024:


	Series A			Series C		Total
Amounts as of December 31, 2023		517,874			-		517,874
Number of shares		95,355,430			2		95,355,432

Share repurchase		(49,982	)		-		(49,982	)
Number of shares repurchased		(1,062,355	)		-		(1,062,355	)
Series A shares to be granted in LTIP		1			-		1
Number of shares		1,921,653			-		1,921,653

Amounts as of June 30, 2024		467,893			-		467,893
Number of shares		96,214,728			2		96,214,730

During the six-month period ended June 30, 2024 the Company repurchased 1,062,355 Serie "A" share for a total amount of 49,982, which, as of the date of issuance of these interim condensed consolidated financial statements, are held in Treasury.

As of June 30, 2024 and December 31, 2023, the Company's authorized capital includes 32,577,511 and 33,436,809 Series A ordinary shares, respectively, held in Treasury.

As of June 30, 2024 the Company holds the 2 (two) outstanding Series C shares.

See Note 21 to the annual consolidated financial statements as of December 31, 2023.

Note 21. Provisions


	As of June 30, 2024		As of December 31, 2023
Noncurrent
Well plugging and abandonment		17,063		12,191
Environmental remediation		144		148

Total noncurrent provisions		17,207		12,339

Current
Well plugging and abandonment		3,005		3,096
Environmental remediation		872		936
Contingencies		81		101

Total current provisions		3,958		4,133

Note 22. Salaries and payroll taxes


	As of June 30, 2024		As of December 31, 2023
Current
Provision for bonuses and incentives		8,251		12,657
Salaries and social security contributions		6,543		4,898

Total current salaries and payroll taxes		14,794		17,555

Note 23. Other taxes and royalties


	As of June 30, 2024		As of December 31, 2023
Current
Royalties and others		29,099		33,862
Tax withholdings		2,539		1,603
Other		386		1,084

Total current other taxes and royalties		32,024		36,549

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 24. Trade and other payables


	As of June 30, 2024		As of December 31, 2023
Current
Accounts payable:
Suppliers		366,727		204,696

Total current accounts payables		366,727		204,696

Other accounts payables:
Extraordinary fee for Gas IV Plan		530		162
Payables to partners of joint operations		191		197

Total other current accounts payables		721		359

Total current trade and other payables		367,448		205,055

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 payable does not differ considerably from its fair value.

Note 25. Employee benefits

The following chart summarizes net expense components and the changes in the liability for long-term employee benefits in the unaudited interim condensed consolidated financial statements:


	Period from January 1, through June 30, 2024			Period from January 1, through June 30, 2023		Period from April 1, through June 30, 2024	Period from April 1, through June 30, 2023
Cost of services		(3	)		(12	)	(1	)	(6	)
Cost of interest		(154	)		(300	)	(75	)	(153	)
Settlement		-			364		-		364

Total		(157	)		52		(76	)	205


	As of June 30, 2024
	Present value of the obligation			Plan assets		Net liabilities
Amounts at beginning of period		(11,295	)		5,592		(5,703	)
Items classified as loss or profit
Cost of services		(3	)		-		(3	)
Cost of interest		(267	)		113		(154	)
Items classified in other comprehensive income
Actuarial remeasurement gain		-			66		66
Payment of contributions		821			(654	)	167

Amounts at end of period		(10,744	)		5,117		(5,627	)

The fair value of plan assets as of every year end per category, is as follows:


	As of June 30, 2024		As of December 31, 2023
US government bonds		4,819		5,438
Cash and cash equivalents		298		154

Total		5,117		5,592

See Note 23 to the annual consolidated financial statements as of December 31, 2023.

Note 26. Related parties' transactions and balances

As of June 30, 2024 and December 31, 2023, the Company carries no balances with related parties and relevant transactions other than those included in Note 27 to the annual consolidated financial statements as of December 31, 2023.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensedconsolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six-month periods ended June 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 2.3 to the annual consolidated financial statements as of December 31, 2023, provides information on the Group's structure, including information on Company subsidiaries.

Note 27. Commitments and contingencies

There were no significant changes in commitments and contingencies for the six-month period ended June 30, 2024 (See Notes 28 and 29 to the annual consolidated financial statements as of December 31, 2023).

Note 28. Tax regulations

Other than mentioned in Note 2.5.1.2, there were no significant changes in Argentina's and Mexico's tax regulations during the six-month period ended June 30, 2024 (See Note 30 to the annual consolidated financial statements as of December 31, 2023).

Note 29. Subsequent events

The Company assessed events subsequent to June 30, 2024, to determine the need of a potential recognition or disclosure in these interim condensed consolidated financial statements. The Company assessed such events through July 11, 2024, date in which these financial statements were made available for issue.

- On July 2, 2024, Vista Argentina signed a loan agreement with Banco Galicia de Buenos Aires for a total amount of 43,074; at an annual interest rate of 43%, and expiration date in December 2024.

- On July 5, 2024, Vista Argentina paid interest for an amount of 112 corresponding to loan agreement signed with Banco Santander International in January 2021, July 2021 and January 2022.

- On July 5, 2024, Vista Argentina, issued ON XXV for an amount of 53,195, at an annual interest rate of 3%, and expiration date in July 2028.

There are no other events or transactions between the closing date and the date of issuance of these unaudited interim condensed consolidated financial statements that could significantly affect the Company's financial position or profit or loss.

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Vista Energy SAB de CV published this content on 11 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2024 20:11:13 UTC.

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Jul. 11	Vista Energy Q2 Adjusted EPS, Revenue Increase	MT
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Vista Energy, S.A.B. de C.V.

Equities

VISTA A

MX01VI0C0006

Oil & Gas Exploration and Production

Vista Energy B de C : Unaudited interim condensed consolidated financial statements as of June 30, 2024 and December 31, 2023 and for the six month periods ended June 30, 2024 and 2023 Form 6 K

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