Vista will deploy a second frac set in Argentina to accelerate its activity plan in Vaca Muerta

PR Newswire
Tuesday, June 11, 2024 at 3:01pm UTC

Vista will deploy a second frac set in Argentina to accelerate its activity plan in Vaca Muerta

PR Newswire

The company signed an agreement with SLB in Houston.

HOUSTON, June 11, 2024 /PRNewswire/ -- Vista, the second-largest unconventional oil operator in Argentina, extended its strategic partnership with SLB today by signing a contract to import a new frac set into the country.

This frac set will operate within the blocks that Vista is developing in Vaca Muerta.

The company targets a production rate of 85,000 boe/d for the fourth quarter of 2024. It expects to incorporate the second frac set into its operation in the second half of the year, providing the flexibility to accelerate its plan further. This positions Vista on a solid path to exceed its production targets for 2025 and 2026, as outlined during its latest Investor Day presentation.

The signing took place at the SLB headquarters in Houston, between Juan Garoby, Co-founder and COO of Vista, and Aparna Raman, SLB Reservoir Performance Division President.

Garoby emphasized: "The cornerstone of our drilling and completion strategy in Vaca Muerta is the integration of cutting-edge equipment to enhance efficiency and drive production growth. The second frac set adds flexibility to accelerate our plan even further. I am pleased to extend our alliance with SLB, a company that has been with us since Vista´s early days and is part of our One Team initiative. One Team is a groundbreaking program in the industry that we conceived to align our goals with those of our service providers, operating as a single team focused on performance."

Arpana said: "SLB is proud to continue our partnership with Vista and to be part of the One Team initiative. Together, we are deploying cutting-edge technologies and solutions to enhance operational efficiency, reduce costs, and boost production. SLB is investing in Argentina for the long term."

At the last Investor Day held in September 2023, Vista confirmed that between 2024 and 2026, the company plans to put 138 new shale oil wells into production—a 33% increase compared to the previous plan—to reach a production of 100,000 boe/d by 2026. The company's vision is to achieve a daily production of 150,000 boe by 2030.

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