Mexico's Vista will invest $4.5 billion to boost production in Argentina's Vaca Muerta shale.

Vista, a Mexican energy company, announced on Wednesday that it would invest over $4.5 billion into the vast Vaca Muerta shale in Argentina to increase production.

Vista's production is expected to increase to over 200,000 barrels equivalent per day by 2030 from the 114,000 boe/d it was expecting this year. The company said as much in an investor presentation.

Mexico City listed shares of the company rose nearly 2% in value after opening to 950 pesos (US$51.72).

Vista, Argentina's second largest shale producer has heavily invested in Vaca Muerta.

It said that the firm plans to double its export revenue in the next three-year period, bringing in $8 billion.

Vista said that core earnings (earnings before interest, tax, depreciation, and amortization, or EBITDA) were expected to increase by 75% between 2025 and 2028 to reach $2.8 billion.

(source: Reuters)