6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER SECURITIES EXCHANGE ACT OF 1934

For the month of July 2022

Commission File No. 001-39000

Vista Energy, S.A.B. de C.V.

(Exact Name of the Registrant as Specified in the Charter)

N.A.

(Translation of Registrant’s Name into English)

Pedregal 24, Floor 4,

Colonia Molino del Rey, Alcaldía Miguel Hidalgo

Mexico City, 11040

Mexico

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒                Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes  ☐                No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.

Contents of this Form 6-K

This Form 6-K for Vista Energy, S.A.B. de C.V. (“Vista” or the “Company”) contains the following exhibit:

Exhibit 1: Second Quarter of 2022 Earnings Webcast Presentation.

Forward-Looking Statements

Any statements contained herein or in the attachments hereto regarding Vista that are not historical or current facts are forward-looking statements. These forward-looking statements convey Vista’s current expectations or forecasts of future events. Forward-looking statements regarding Vista involve known and unknown risks, uncertainties and other factors that may cause Vista’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” “Forward-Looking Statements” and other applicable sections of Vista’s prospectus filed with the United States Securities and Exchange Commission (“SEC”) and other applicable filings with the SEC and the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores).

Enquiries:

Investor Relations:

ir@vistaenergy.com

Argentina: +54 11 3754 8500

Mexico: +52 55 8647 0128

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 27, 2022

VISTA ENERGY, S.A.B. DE C.V.
	By:	/s/ Alejandro Cherñacov
	Name:	Alejandro Cherñacov
	Title:	Strategic Planning and Investor Relations Officer

EX-99.1

Exhibit 1 Second Quarter 2022 Earnings Webcast July 27, 2022

02 About projections and forward-looking statements Additional information about Vista Energy, S.A.B. de C.V., a sociedad anónima bursátil de capital variable organized under the laws of Mexico (the“Company” or“Vista”) can be found in the“Investors” section on the website at www.vistaoilandgas.com. This presentation does not constitute an offer to sell or the solicitation of any offer to buy any securities of the Company, in any jurisdiction. Securities may not be offered or sold in the United States absent registration with the U.S. Securities Exchange Commission(“SEC”), the Mexican National Securities Registry held by the Mexican National Banking and Securities Commission(“CNBV”) or an exemption from such registrations. This presentation does not contain all theCompany’s financial information. As a result, investors should read this presentation in conjunction with theCompany’s consolidated financial statements and other financial information available on theCompany’s website. All the amounts contained herein are unaudited. Rounding amounts and percentages: Certain amounts and percentages included in this presentation have been rounded for ease of presentation. Percentage figures included in this presentation have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this presentation may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this presentation may not sum due to rounding. This presentation contains certain metrics that do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to evaluate theCompany’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods. No reliance may be placed for any purpose whatsoever on the information contained in this document or on its completeness. Certain information contained in this presentation has been obtained from published sources, which may not have been independently verified or audited. No representation or warranty, express or implied, is given or will be given by or on behalf of the Company, or any of its affiliates (within the meaning of Rule 405 under the Act,“Affiliates”), members, directors, officers or employees or any other person (the“RelatedParties”) as to the accuracy, completeness or fairness of the information or opinions contained in this presentation or any other material discussed verbally, and any reliance you place on them will be at your sole risk. Any opinions presented herein are based on general information gathered at the time of writing and are subject to change without notice. In addition, no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) is or will be accepted by the Company or any of its Related Parties in relation to such information or opinions or any other matter in connection with this presentation or its contents or otherwise arising in connection therewith. This presentation also includes certain non-IFRS (International Financial Reporting Standards) financial measures which have not been subject to a financial audit for any period. The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to verification, completion and change without notice. This presentation includes“forward-lookingstatements” concerning the future. The words such as“believes,”“thinks,”“forecasts,”“expects,”“anticipates,”“intends,”“should,”“seeks,”“estimates,”“future” or similar expressions are included with the intention of identifying statements about the future. For the avoidance of doubt, any projection, guidance or similar estimation about the future or future results, performance or achievements is a forward-looking statement. Although the assumptions and estimates on which forward-looking statements are based are believed by our management to be reasonable and based on the best currently available information, such forward-looking statements are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. There will be differences between actual and projected results, and actual results may be materially greater or materially less than those contained in the projections. Projections related to production results as well as costs estimations– includingVista’s anticipated performance and guidance for 2022 included in slide No. 11 of this presentation– are based on information as of the date of this presentation and reflect numerous assumptions including assumptions with respect to type curves for new well designs and certain frac spacing expectations, all of which are difficult to predict and many of which are beyond our control and remain subject to several risks and uncertainties. The inclusion of the projected financial information in this document should not be regarded as an indication that we or our management considered or consider the projections to be a reliable prediction of future events. As such, no representation can be made as to the attainability of projections, guidances or other estimations of future results, performance or achievements. We have not warranted the accuracy, reliability, appropriateness or completeness of the projections to anyone. Neither our management nor any of our representatives has made or makes any representation to any person regarding our future performance compared to the information contained in the projections, and none of them intends to or undertakes any obligation to update or otherwise revise the projections to reflect circumstances existing after the date when made or to reflect the occurrence of future events in the event that any or all of the assumptions underlying the projections are shown to be in error. We may or may not refer back to these projections in our future periodic reports filed under the Exchange Act. These expectations and projections are subject to significant known and unknown risks and uncertainties which may cause our actual results, performance or achievements, or industry results, to be materially different from any expected or projected results, performance or achievements expressed or implied by such forward-looking statements. Many important factors could cause our actual results, performance or achievements to differ materially from those expressed or implied in our forward-looking statements, including, among other things: uncertainties relating to future government concessions and exploration permits; adverse outcomes in litigation that may arise in the future; general political, economic, social, demographic and business conditions in Argentina, Mexico and in other countries in which we operate; changes in law, rules, regulations and interpretations and enforcements thereto applicable to the Argentine and Mexican energy sectors, including changes to the regulatory environment in which we operate and changes to programs established to promote investments in the energy industry; any unexpected increases in financing costs or an inability to obtain financing and/or additional capital pursuant to attractive terms; any changes in the capital markets in general that may affect the policies or attitude in Argentina and/or Mexico, and/or Argentine and Mexican companies with respect to financings extended to or investments made in Argentina and Mexico or Argentine and Mexican companies; fines or other penalties and claims by the authorities and/or customers; any future restrictions on the ability to exchange Mexican or Argentine Pesos into foreign currencies or to transfer funds abroad; the revocation or amendment of our respective concession agreements by the granting authority; our ability to implement our capital expenditures plans or business strategy, including our ability to obtain financing when necessary and on reasonable terms; government intervention, including measures that result in changes to the Argentine and Mexican, labor markets, exchange markets or tax systems; continued and/or higher rates of inflation and fluctuations in exchange rates, including the devaluation of the Mexican Peso or Argentine Peso; any force majeure events, or fluctuations or reductions in the value of Argentine public debt; changes to the demand for energy; uncertainties relating to the effects of the Covid-19 outbreak; environmental, health and safety regulations and industry standards that are becoming more stringent; energy markets, including the timing and extent of changes and volatility in commodity prices, and the impact of any protracted or material reduction in oil prices from historical averages; changes in the regulation of the energy and oil and gas sector in Argentina and Mexico, and throughout Latin America; our relationship with our employees and our ability to retain key members of our senior management and key technical employees; the ability of our directors and officers to identify an adequate number of potential acquisition opportunities; our expectations with respect to the performance of our recently acquired businesses; our expectations for future production, costs and crude oil prices used in our projections; increased market competition in the energy sectors in Argentina and Mexico; and potential changes in regulation and free trade agreements as a result of U.S., Mexican or other Latin American political conditions. Forward-looking statements speak only as of the date on which they were made, and we undertake no obligation to release publicly any updates or revisions to any forward-looking statements contained herein because of new information, future events or other factors. In light of these limitations, undue reliance should not be placed on forward-looking statements contained in this presentation. Further information concerning risks and uncertainties associated with these forward-looking statements and Vista’s business can be found inVista’s public disclosures filed on EDGAR (www.sec.gov) or at the web page of the Mexican Stock Exchange (www.bmv.com.mx). You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements. This presentation is not intended to constitute and should not be construed as investment advice. Other Information. Vista routinely posts important information for investors in the Investor Relations support section on its website, www.vistaenergy.com. From time to time, Vista may use its website as a channel of distribution of material information. Accordingly, investors should monitorVista’s Investor Relations website, in addition to followingVista’s press releases, SEC filings, public conference calls and webcasts.

03 Delivered strong operational and financial performance Q2 2022 highlights: 44.8 Mboe/d 36.9 Mbbl/d +12% y-o-y +17% y-o-y (1) Production Oil Production 294.3 $MM 7.8 $/boe +78% y-o-y +7% y-o-y (2) Lifting Cost Revenues 202.1 $MM 151.4 $MM +97% y-o-y +102% y-o-y (4) (3) Adj. EBITDA CAPEX 62.6 $MM 0.6 x +76% y-o-y (62)% y-o-y (5) Net leverage ratio Free Cash Flow 82.3 $MM 0.9 $/sh +371% y-o-y +370% y-o-y (6) (7) Adj. Net Income Adj. EPS (1) Includes natural gas liquids (NGL) and excludes flared gas, injected gas and gas consumed in operations + Other adjustments (2) Lifting cost includes production, transportation, treatment and field support services; excludes crude (5) Free cash flow is calculated as Cash flow generated by operating activities minus Cash flow used in stock fluctuations, depreciation, royalties, direct taxes, commercial, exploration and G&A costs investing activities (3) Property, plant and equipment additions (6) Adjusted net income/loss = Net profit/loss + Deferred Income Tax + Changes in the fair value of (4) Adj. EBITDA = Net profit (loss) for the period + Income tax (expense) / benefit + Financial results, warrants + Impairment of long-lived assets net + Depreciation + Restructuring and Reorganization expenses + Impairment of long-lived assets (7) Adj. EPS: Adj. Net Income divided by weighted average number of ordinary shares

04 Double-digit production growth (1) TOTAL PRODUCTION OIL PRODUCTION NATURAL GAS PRODUCTION Mboe/d Mbbl/d MMm3/d +12% +17% (6)% +2% +4% (4)% 44.8 36.9 43.9 35.6 39.9 1.26 1.24 31.5 1.19 Q2-21 Q1-22 Q2-22 Q2-21 Q1-22 Q2-22 Q2-21 Q1-22 Q2-22 ▪ Production growth driven by tie-in of 2-well pad #11 in BPE and 4-well pad #12 in BPO, in February and May, respectively ▪ Total shale oil production was 27.2 Mbbl/d, representing 74% of total oil production (1) LPG production in Q2 2022 totaled 426 boe/d, compared to 452 boe/d in Q1 2022 and 419 boe/d in Q2 2021

05 Continuous progress in shale development (1) PADS TIED-IN & TO BE TIED-IN BAJADA DEL PALO WELL PERFORMANCE 20 Mboe 25 Cumulative production after 120 days Aguada 35 30 200 Federal AF3 AF2 40 AF1 150 Bajada del (3) BPO type curve Palo Este 5 15 Bajada del 100 Palo Oeste 11 12 50 3 16 10 14 1 2 4 8 7 9 6 13 7 0 (2) BPE-2101h BPE-2103h BPO average Pads tied-in to date: BPO BPE AF Pipeline under construction Pads to be tied-in during 2H22: BPO BPE AF Existing Pipeline Bajada del Palo Este Bajada del Palo Oeste Aguada Federal Bajada del Palo Este Core development Core development extension Pilot ▪ Solid performance to date, with 47 wells tied-in ▪ Completed and tied-in our first 2 wells in June ▪ First 2 wells showing robust productivity, and producing on average 5% above our type (pad AF2) with average cumulative production to date (4) (1) curve 15% above our type curve ▪ Drilled 2 additional wells in 4-well pad AF3 (2 ▪ Completed and tied-in pads #12 & #13 in Q2-22 wells drilled previously) - planning to complete ▪ Planning to drill 3 additional wells to the East and tie-in 4 wells in 2H-22 to de-risk block in 2H-22 ▪ Currently completing pad #14 (tie-in Q3-22) ▪ Ongoing construction of pipeline connecting to ▪ On track to tie-in pads #15 and #16 in 2H-22 BPO (expected by Q4-22) ▪ Expecting to reach 60 wells on production by YE (1) Normalized to a standard well design of 2,800 meters lateral length and 47 frac stages well (2) Average production of first 40 wells in Bajada del Palo Oeste (3) EUR: 1.52 MMboe (4) Compares BPO type curve to average production of first 40 wells in BPO at 180 days, normalized to a standard well design of 2,800 meters lateral length and 47 frac stages well

06 Strong y-o-y revenue growth, driven by higher oil production and prices REVENUES AVERAGE CRUDE OIL PRICE AVERAGE NATURAL GAS PRICE $MM $/bbl $/MMBtu +78% +43% +11% +42% 294.3 +22% 78.4 +28% 3.9 3.5 64.1 3.0 207.9 54.9 165.3 147.0 77.1 26.8 Q2-21 Q1-22 Q2-22 Q2-21 Q1-22 Q2-22 Q2-21 Q1-22 Q2-22 Total Revenues Export Revenues ▪ Strong increase y-o-y, driven by ▪ Realized oil price of 63.2 $/bbl in the ▪ Interannual increase driven by sales to (1) 17% boost in oil production and domestic market and 99.6 $/bbl industrial customers at 4.5 $/MMBtu, 43% improvement in realized oil in the export market and exports to Chile at 5.4 $/MMBtu prices ▪ Exported 1.5 MMbbl of crude oil, ▪ Sequential increase driven by Plan Gas 42% of total oil sales volumes winter price of 4.1 $/MMBtu applicable to ~70% of volumes starting May-22 (1) Net of export tax, export price before export tax was 107.6 $/bbl in Q2-22

07 Successfully contained cost pressure (1) (1) LIFTING COST LIFTING COST PER BOE $MM $/boe +20% +7% 31.7 30.8 7.8 7.8 7.3 26.5 44.8 43.9 39.9 Q2-21 Q1-22 Q2-22 Q2-21 Q1-22 Q2-22 Lifting cost per boe Total production (Mboe/d) ▪ Actively implementing cost saving initiatives to contain the impact of real-term appreciation of the Argentine Peso ▪ Expected production growth for 2H-22 forecasted to deliver lifting cost of 7.5 $/boe for the year (1) Lifting cost includes production, transportation, treatment and field support services; excludes crude stock fluctuations, depreciation, royalties, direct taxes, commercial, exploration and G&A costs

08 Two-fold increase in Adj. EBITDA y-o-y (1) (2) ADJ. EBITDA ADJ. EBITDA MARGIN NETBACK $MM % $/boe +97% +7 pp +76% +54% 49.5 +59% 202.1 +8 pp 69% 62% 61% 32.2 127.1 28.2 102.3 78.4 64.1 54.9 Q2-21 Q1-22 Q2-22 Q2-21 Q1-22 Q2-22 Q2-21 Q1-22 Q2-22 Adj. EBITDA margin Realized crude oil price ($/bbl) ▪ Adj. EBITDA y-o-y increase driven by strong revenue growth amid stable lifting cost ▪ Netback increased 76% y-o-y, driven by higher realized prices and an increase in oil mix (1) Adj. EBITDA = Net profit (loss) for the period + Income tax (expense) / benefit + Financial results, net + Depreciation + Restructuring and Reorganization expenses + Impairment of long-lived assets + Other adjustments. Adj EBITDA for Q2-22 includes 9.0 $MM from Trafigura JV (2 pads tied-in) (2) Netback = Adj. EBITDA (in $MM) divided by total production (in MMboe)

09 9 FCF generation while continuously executing gross debt reduction plan (1) (3) Q2 2022 CASH FLOW EVOLUTION FREE CASH FLOW $MM $MM +76% 62.6 35.5 33.0 Beginning of period Operating activities Investing activities Financing activities End of period Q2-21 Q1-22 Q2-22 (2) cash position cash flow cash flow cash flow cash position (4) ▪ Operating activities cash flow impacted by annual Income Tax GROSS DEBT – Actual & forecast payment $MM ▪ Investing activities cash flow driven by D&C in Bajada del Palo Oeste and Aguada Federal ▪ Financing activities cash flow includes issuance of 43.5 $MM hard- dollar bond, 22.5 $MM repayment of bank loan and 23.8 $MM of share buy-backs ▪ After quarter-end, repaid 24.2 $MM of bank loans, and planning to th repay 50.0 $MM of bond series 2 on Aug 8 Debt at Q1-22 Debt at Q2-22 Bank & bond Debt at repayments 9-Aug-22 (F) ▪ Net leverage ratio was 0.6x LTM Adj. EBITDA at quarter-end (1) Cash is defined as Cash and cash equivalents (2) For the purpose of this graph, cash flow used in by financing activities is the sum of: (i) cash flow used in by financing activities for (12.3) $MM; (ii) effect of exposure to changes in the foreign currency rate of cash and cash equivalents for (6.1) $MM; and (iii) the variation in Government bonds for (1.0) $MM (3) Free cash flow is calculated as Cash flow generated by operating activities (165.4 $MM) minus Cash flow used in Investing activities (102.9 $MM) (4) Forecasted gross debt as of August 9, 2022, assumes the repayment of 24.2 $MM of bank loans and 50 $MM of bond series 2

10 10 Focused execution of carbon footprint reduction projects (1) (1) Forecasted GHG emissions intensity Reinforcing our 2022 GHG emissions reduction commitments Kg CO2e/boe ✓ Key GHG emissions reduction projects under execution ~ (25)% ▪ Optimization of glycol dehydrators in compressor stations (3 out of 4 units 24 completed) ▪ Installation of vapor recovery units in 3 key facilities of our Bajada del Palo cluster ~ 18 (project scheduled for completion in Q3-22) ▪ Electrification of Coirón Amargo Norte block ▪ Total capex of 5 $MM ✓ 2022 plan is forecast to reduce absolute GHG emissions by ~3% y-o-y and emissions (2) intensity by ~25% y-o-y ✓ On track to reduce our operational GHG emissions by ~35% vis-à-vis 2020, and (2) 2021 2022F intensity to 9 Kg CO2e/boe, to meet our net zero ambition in 2026 (1) See “About projections and forward-looking statements” on slide 2 (2) Scope 1 and 2 greenhouse gas emissions

11 (1) Updating 2022 guidance (2) SHALE OIL WELLS PRODUCTION LIFTING COST PPP # Mboe/d Mboe/d 32 7.5 +47.0 46.0 - 47.0 24 Original Guidance (maintained) Original Guidance Updated Original Guidance Updated ▪ Added 4 in BPO, 2 in AF and 2 in BPE ▪ 2022 exit rate expected >52 Mboe/d ▪ Cost dilution in 2H-22 (3) (4) ADJ. EBITDA CAPEX GROSS DEBT PPP $MM $MM $MM 500 750 625 575 400 525-550 Previous Guidance Updated Original Guidance Updated Original Guidance Updated ▪ Assuming 2H-22 prices at 73 $/bbl▪ Driven by 3 additional pads▪ Using incremental cash generation to further deleverage (1) See “About projections and forward-looking statements” on slide 2 (2) Lifting cost includes production, transportation, treatment and field support services; excludes crude stock fluctuations, depreciation, royalties, direct taxes, commercial, exploration and G&A costs (3) Adj. EBITDA = Net profit (loss) for the period + Income tax (expense) / benefit + Financial results, net + Depreciation + Restructuring and Reorganization expenses + Loss for impairment of assets+ Other adjustments (4) Excludes accrued interest

12 Closing remarks STRONG FINANCIAL PERFORMANCE driven by production growth and higher realized oil prices CONTINUE TO DEVELOP BAJADA DEL PALO OESTE expanding core development into Aguada Federal, and complemented by strong pilot results in Bajada del Palo Este DE-CARBONIZATION PLAN ON TRACK forecasting to deliver a 25% y-o-y reduction in GHG emissions intensity in 2022 UPDATED GUIDANCE reflecting balanced capital allocation of incremental operating cash flow to additional growth and further debt reduction

THANKS! Q&A 13