Vista Oil & Gas, a Mexico based energy company, raised US$107m in a follow-on offering on the New York Stock Exchange to invest in current projects. Vista is backed by private equity firm Riverstone Holdings and the Abu Dhabi Investment Council. Last year Vista acquired Pampa Energy and Pluspetrol and earlier this year Vista received commitments from Riverstone and the Southern Cross Group to help expand its operations at the Vaca Muerta shale deposit in Argentina. Read more at Energy Voice.
(Press Release) Vista Oil & Gas, S.A.B. de C.V. (the “Company”), an independent Latin American oil and gas company, announced today the commencement of an underwritten public offering of the Company’s Series A shares (the “Series A shares”), which may be represented by American Depositary Shares (“ADSs”), as part of a global primary offering of 10,000,000 Series A shares pursuant to a registration statement on Form F-1 with the Securities and Exchange Commission (the “SEC”). Each ADS represents one Series A share. The global offering consists of an international offering in the United States and other countries outside of Mexico and a concurrent public offering in Mexico to be authorized by the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores or “CNBV”).
In connection with the global offering, the Company intends to grant the underwriters the option to purchase up to 1,500,000 additional Series A shares, which may be represented by ADSs. The Company has applied to list the ADSs on the New York Stock Exchange under the ticker symbol “VIST.” The Company’s Series A shares are listed on the Mexican Stock Exchange under the ticker symbol “VISTA.” The Company intends to use the net proceeds from the international offering to fund capital expenditures relating to its development plan.
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are acting as joint bookrunners and joint global coordinators and Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC and Santander Investment Securities Inc. are acting as joint bookrunners in the proposed offering.
The international offering will be made only by means of a prospectus. Before you invest, you should read the preliminary prospectus in the registration statement and other documents we filed with the SEC for more complete information about the Company and this offering. When available, copies of the preliminary prospectus related to the proposed offering may be obtained by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, toll-free: (800) 831-9146, or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, New York, NY 10010.
A registration statement on Form F-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. The Series A shares to be registered may not be sold nor may offers to buy be accepted prior to the time when the registration statement becomes effective. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Additionally, a prospectus under Mexican law relating to the securities to be offered in a registered follow-on offering in Mexico has been filed with the CNBV. The securities may not be publicly sold or offered in Mexico nor may offers to buy be accepted prior to the time the registered follow-on offering is authorized by the CNBV.
About Vista Oil & Gas, S.A.B. de C.V.:
Vista Oil & Gas, S.A.B. de C.V. is an independent Latin American oil and gas company operating since April 4, 2018. The Company owns high-quality, low-operating cost, high margin conventional producing assets in Argentina and Mexico, with most of its production and revenues originating in Argentina. In addition, most of its ongoing drilling and workover activities, estimated proved reserves and assets are located in Argentina, including its currently-producing Vaca Muerta wells. Led by an experienced management team, the Company seeks to generate strong returns for its shareholders by leveraging its strong cash flow-producing conventional assets and developing its premier shale acreage in its approximately 134,000 net acres in the Vaca Muerta shale play in Argentina, as well as by increasing the oil recovery factor of the conventional assets it operates in Argentina. As of March 31, 2019, the Company was the sixth largest oil producer in Argentina according to the Argentine Secretariat of Energy.