Vista Energy doubles Q2 revenue to $1.23B as Equinor Vaca Muerta deal closes, adding scale
VIST has more than doubled off its 52-week low of $31.63.
Summary
Vista Energy's Q2 2026 revenue nearly doubled to $1.23B, reflecting the first full quarter including the Equinor Vaca Muerta assets. The $1.44B acquisition closed in May, funded partly with $409M in stock, and the company reported H1 net profit of $441M.
Key Events · Earnings and Guidance · VIST
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Q2 Revenue Doubles to $1.23B
Revenue reached $1,234.9M in Q2 2026, up 102% from $610.5M in Q2 2025, driven by higher production from the Equinor assets and strong oil prices.
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H1 Net Profit Rises 38% to $441M
Net profit for the first half of 2026 was $440.7M, compared to $318.1M in H1 2025, with diluted EPS of $3.93 vs. $3.03.
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Equinor Vaca Muerta Acquisition Closes
The $1.44B acquisition of Equinor's Vaca Muerta assets closed on May 7, 2026, adding a 30% non-operated interest in Bandurria Sur and a 50% interest in Bajo del Toro. Consideration included $722M cash, $409M in newly issued ADSs, and a $308M contingent liability.
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Non-Controlling Interest Recognized from YPF Sale
Vista sold a 16.3% stake in the acquired entity to YPF for $203.9M cash plus a $62.3M receivable, resulting in a $190M non-controlling interest on the balance sheet.
Analysis · VIST · Energy & Transportation
Second-quarter revenue nearly doubled year-over-year to $1.23 billion, fueled by the integration of the Equinor Vaca Muerta assets acquired in May. The $1.44 billion deal was partially funded with $409 million in newly issued shares and brings significant production and reserves onto the books. A $308 million contingent consideration liability tied to future oil prices was also recognized. With first-half net profit up 38% to $441 million and operating cash flow exceeding $1 billion, the financial position is strengthening—though the increased debt load and contingent payments warrant attention. The filing further confirms the sale of a 16.3% stake to YPF and the transfer of conventional assets, sharpening the focus on the core Vaca Muerta unconventional play.
At the time of this filing, VIST was trading at $63.98 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $31.63 to $81.44. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.