Vista Oil & Gas announces the sale of its working interest in the Coirón Amargo Sur Oeste
concession
Mexico City, June 25, 2021 Vista Oil & Gas, S.A.B. de C.V. (Vista or the
Company) (NYSE: VIST; BMV: VISTA) announced today that its subsidiary Vista Oil & Gas Argentina S.A.U. has sold its 10% working interest in the joint venture agreement (the JV agreement) over the Coirón
Amargo Sur Oeste (CASO) concession to Shell Argentina S.A., a subsidiary of Royal Dutch Shell plc. (Shell), for a total consideration of US$21,500,000, payable in the following manner: (i) US$15,000,000 in cash, and
(ii) US$6,500,000 as carry for the extension of infrastructure works for the collection and supply of water, which is operated by Shell and supplies Vistas operation.
The Province of Neuquén, by means of Decree 1027/2021, dated June 24, 2021 (the Decree), has approved the addendum to the JV
agreement, reflecting the new working interests in such JV in accordance with the aforementioned transaction. With the issuance of the Decree all agreed conditions precedent have been fulfilled; therefore, Vista and Shell shall determine a closing
date for the transaction, which must take place within the next 5 business days. Once closed, the transaction shall have retroactive effect to April 1, 2021.
The CASO concession holds 16,440 acres in the shale oil window of Vaca Muerta, of which 1,644 acres correspond to Vistas 10% working interest, which
will be assigned to Shell at closing. Currently, CASO is under field development, having completed its pilot phase in 2019. Total hydrocarbon production for the year 2020, at Vistas 10% working interest, was 94 boe/d (barrels of oil equivalent
per day). Vistas total proved reserves in CASO as of December 31, 2020, were 1.5 MMboe (million barrels of oil equivalent) according to the report prepared by DeGolyer and MacNaughton Corp. dated February 1, 2021.
Forward-Looking Statements
Any statements contained
herein or in the attachments hereto regarding Vista that are not historical or current facts are forward-looking statements. These forward-looking statements convey Vistas current expectations or forecasts of future events. Forward-looking
statements regarding Vista involve known and unknown risks, uncertainties and other factors that may cause Vistas actual results, performance or achievements to be materially different from any future results, performances or achievements
expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the Risk Factors, Forward-Looking Statements and other applicable sections of Vistas prospectus filed
with the United States Securities and Exchange Commission (SEC) and other applicable filings with the SEC and the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores).
Enquiries:
Investor Relations:
ir@vistaoilandgas.com
Argentina: +54 11 3754 8500
Mexico: +52 55 4166 9000