The reserve confirmation and operational update de-risk the May 2026 Equinor acquisition and signal strong execution in Vaca Muerta. Monitor the Q3 2026 production report for evidence of ramp-up from the newly acquired blocks, particularly the conversion of Bajo del Toro's exploration permit to a 35-year exploitation concession before its December 31, 2026 expiry.
Price Chart
Executive Summary
Vista Energy announced 66.8 MMboe of estimated proved (P1) reserves from the Bandurria Sur and Bajo del Toro blocks acquired on May 7, 2026, increasing total pro forma net proved reserves to 654.9 MMboe as of December 31, 2025. The filing confirms the successful integration of the Equinor asset acquisition and provides operational details including 56 wells producing 19.1 Mboe/d at Bandurria Sur and 8 wells producing 1.8 Mboe/d at Bajo del Toro, with significant remaining drilling inventory. This is a material reserve addition that validates the strategic rationale of the May transaction and extends Vista's Vaca Muerta development runway.
Key Facts
- 66.8 MMboe of estimated proved (P1) reserves from Bandurria Sur and Bajo del Toro blocks
- Pro forma total net proved reserves of 654.9 MMboe as of December 31, 2025
- Bandurria Sur: 56 wells producing 19.1 Mboe/d with 99 remaining well locations at 25.1% working interest
- Bajo del Toro: 8 wells producing 1.8 Mboe/d with 138 remaining well locations at 35.0% working interest
- Reserves report dated August 21, 2026 prepared by DeGolyer and MacNaughton
- Transaction consummated on May 7, 2026 with Equinor and YPF S.A.
Financial Impact
66.8 MMboe of proved reserves added; pro forma total reserves of 654.9 MMboe
Risk Factors
- Bajo del Toro exploration permit expires December 31, 2026 and requires conversion to exploitation concession
- Reserve estimates use December 31, 2025 pricing assumptions (64.2 $/bbl oil) which may not reflect current commodity prices
- Noncontrolling interest in BSP excludes 10.1 MMboe from Bandurria Sur total proved reserves
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-384346 |
| Document: 0001193125-26-384346-index-headers.html | 0001193125-26-384346 |
| Document: 0001193125-26-384346-index.html | 0001193125-26-384346 |
| Document: 0001193125-26-384346.txt | 0001193125-26-384346 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 6-K | $70.66 | awaiting T+5 | — | $71.73 (+1.51%) |
Sep 23, 2026 4w ago | 6-K | $68.30 $64.63 | ▼ −5.37% | ▼ −4.96% | $71.73 (+5.02%) |
Sep 22, 2026 4w ago | 6-K | $70.25 $65.35 | ▲ +6.98% | ▲ +6.30% | $71.73 (−2.11%) |
Sep 8, 2026 6w ago | 6-K | $75.86 $76.41 | ▲ +0.72% | ▲ +1.39% | $71.73 (−5.44%) |
Aug 17, 2026 10w ago | 6-K | $72.16 $70.66 | ▼ −2.08% | ▼ −0.89% | $71.73 (−0.60%) |
Aug 14, 2026 10w ago | 6-K | $68.31 $69.58 | ▲ +1.86% | ▲ +3.23% | $71.73 (+5.01%) |
Aug 12, 2026 10w ago | 6-K | $66.01 $68.42 | ▲ +3.65% | ▲ +4.09% | $71.73 (+8.67%) |
Aug 11, 2026 10w ago | 6-K | $68.36 $69.74 | ▲ +2.02% | ▲ +2.42% | $71.73 (+4.93%) |
Aug 10, 2026 11w ago | 6-K | $68.36 $72.16 | ▲ +5.56% | ▲ +5.61% | $71.73 (+4.93%) |
Aug 7, 2026 11w ago | 6-K | $65.96 $68.31 | ▲ +3.56% | ▲ +3.16% | $71.73 (+8.75%) |
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