Our company started as a special purpose acquisition company (SPAC), it was designed to raise funds and use them for the purpose of effecting a Business Combination -an acquisition or merger of a company- that generates value to our shareholders.
We intend to capitalize on the abilities of our Management Team and the broader Riverstone platform to identify, acquire and operate a company leader in the Latin American energy industry.
On April 4, 2018, Vista announced the acquisition of a fully operational platform with certain conventional and unconventional assets, with interests in certain exploitation concessions, assessment blocks and exploration permits in Argentina. The majority of the Acquired Assets are located in the Neuquina basin. Vista is now estimated to be the fifth largest oil producer and operator, according to the latest available information published by the Argentine Ministry of Energy and Mining.
Our objective is to generate attractive returns and create value for our shareholders by applying a disciplined acquisition and development strategy and affecting changes in the acquired assets in order to promote and develop its full value.
The acquisition represents proved reserves of 55.7 MMBoe (based on information as of December 31, 2016); average daily production of 27,472 boed (based on information for the first nine months of 2017); in excess of 137,000 acres in the Vaca Muerta unconventional play, the most prominent unconventional formation in the Neuquina basin, including 54,000 acres in the core of Vaca Muerta’s shale oil window that are ready for full scale development.