HAMILTON, Bermuda and MEXICO CITY, May 6, 2024
/PRNewswire/ -- Vista Energy (NYSE: VIST) and Nabors Industries
(NYSE: NBR) announced today the official signing of the contract to
add a third drilling rig, aiming to accelerate Vista´s development
of Vaca Muerta in southern Argentina.
The signing occurred at Nabors' offices in Houston, with the participation of
Juan Garoby, Co-founder and COO of
Vista, Pablo Vera Pinto, Co-founder
and CFO of Vista, Anthony Petrello,
Chairman, CEO and President of Nabors, and William Restrepo, CFO of Nabors.
Juan Garoby, COO of Vista said:
"The addition of a third drilling rig will provide us flexibility
to accelerate our activity plan in Vaca Muerta. We forecast to put
into production between four to eight wells by year-end, in
addition to the 46 previously announced. We are pleased to carry
out this project in collaboration with Nabors, which represents a
significant extension of a strategic relationship during Vista´s
early days, anchored in our One Team program."
Anthony G. Petrello, Chairman,
CEO and President of Nabors said: "By expanding our relationship
with Vista and deploying advanced technology, we are enhancing
operational excellence while increasing our commitment to a region
that we consider to be a world-class resource. We want to thank the
Vista team for their leadership and early adoption of technology,
which sets a high standard for advancement and performance in
Argentina."
Nabors will deploy a high-spec rig with cutting-edge
technologies. It is scheduled to commence operations in the second
half of 2024. In support of Vista's plan to reduce the carbon
footprint of Vaca Muerta operations, there is potential to
electrify this equipment.
Earlier this year, using Nabors provided technology, Vista
electrified the first drilling rig in Vaca Muerta, Nabors PACE®
F24, which is entirely powered by renewable energy.
About Vista
Vista is an independent energy company focused on Vaca Muerta,
operating since April 4, 2018, and
listed on the Mexican and New York Stock Exchanges. The company
develops high-quality, low-cost assets in Argentina. In Vaca Muerta, it operates 110
producing shale oil wells and has an inventory of approximately
1,150 wells.
Vista aims to play a leading role in energy evolution, with the
goal of becoming a reliable, low-carbon energy company. To learn
about Vista's progress and objectives in its sustainability
strategy, you can access the company's Sustainability Report at
www.vistaenergy.com.
About Nabors Industries
Nabors is a leading provider of advanced technology for the
energy industry. With presence in more than 20 countries, Nabors
has established a global network of people, technology and
equipment to deploy solutions that deliver safe, efficient and
responsible energy production. By leveraging its core competencies,
particularly in drilling, engineering, automation, data science and
manufacturing, Nabors aims to innovate the future of energy.
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SOURCE Nabors Industries Ltd.