In a strategic move to bolster its management team, Vista Energy, S.A.B. de C.V. (BMV: VISTA, NYSE: VIST), a leader in the crude petroleum and natural gas industry with a market capitalization of $5.58 billion, announced the promotion of Matías Weissel to Chief Operations Officer (COO) effective today.
The company also appointed the former COO, Juan Garoby, as the new Chief Technology Officer (CTO). According to InvestingPro analysis, Vista Energy shows strong financial health with impressive gross profit margins of 76.75% and robust revenue growth of 22.63% over the last twelve months.
Mr. Weissel, who previously managed operations in Argentina since January 2023, has been with Vista since its inception in April 2018. His expertise lies in implementing new technologies to optimize drilling and well completion costs, particularly in the Vaca Muerta formation. He is an industrial engineer graduate from the Instituto Tecnológico de Buenos Aires (ITBA).
Juan Garoby, the new CTO, has been with Vista since it was incorporated on March 22, 2017, and has an extensive background in the industry, with past roles at YPF, SLB, and Baker Hughes (NASDAQ:BKR). He is also an ITBA alumnus, holding a bachelor's degree in petroleum engineering.
The appointments are part of Vista's ongoing commitment to add value for its investors by strengthening its management capabilities. The company's focus on value creation appears to be working, with InvestingPro data showing an impressive 84.5% total return over the past year. Analysts maintain a bullish outlook, with price targets suggesting further upside potential.
In other recent news, Vista Energy announced its consolidated financial statements for 2024 will be released in February 2025. The company also reported robust Q3 results, with total production reaching 72,800 barrels of oil equivalent per day, a 47% increase from last year. Revenues rose by 53% to $462 million, and adjusted EBITDA increased by 37% to $310 million.
In addition, Vista Energy Argentina, a subsidiary of Vista Energy, confirmed its participation in the Vaca Muerta Sur Project, a crude oil export pipeline project expected to commence operations in 2027. The subsidiary also successfully priced a $600 million notes offering, bearing an interest rate of 7.625% and a weighted average life of 10 years.
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