Vista farms into Jaguar blocks in Mexico

MEXICO CITY, May 23, 2018 – Vista Oil & Gas has paid USD 27.5 million upfront to acquire 50% stakes in three of Jaguar Exploración y Producción’s blocks onshore Mexico, the company said in a press release published on Tuesday.

The independent E&P company will pay an additional USD 10 million to Jaguar in the form of carry for the CS-01, B-10 and TM-01 blocks, two of which will be operated by Vista. The agreement is also the first joint venture to be established by private companies in Mexico’s energy industry.

“Mexico is core to our ambition of becoming the leading independent oil & gas company in Latin America,” said Miguel Galuccio, chairman and CEO of Vista. “This is a first step as operators in the country, in assets that have an excellent development opportunity.”

With this deal, Vista acquires its first acreage in Mexico, with total net 1P reserves of 7.2 billion boe.

Vista, the first oil and gas company to be listed on the Mexican Stock Exchange, recently finalised the acquisition of assets from Pluspetrol and Pampa Energía in Argentina, making it that country’s fifth-largest oil producer.

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