Vital Energy Inc

Vital Energy, Inc. engages in the exploration, development and acquisition of oil and natural gas properties. It operates in the Permian Basin in West Texas. The company was founded by Randy A. Foutch in October 2006 and is headquartered in Tulsa, OK.

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Vital Energy excels in Q4 2022, eyes growth through strategic acquisitions

Vital Energy's strong financial performance, strategic focus on cash flow maximization, and the Driftwood acquisition's potential for growth position the company well for 2023. While challenges in managing capital budgets and debt reduction persist, opportunities in operational enhancements and cost optimization offer avenues for sustained success.

Vital Energy Inc (VTLE) excels in Q1 with strong operational performance and growth prospects

Vital Energy Inc (VTLE) reported exceptional Q1 results with a focus on operational excellence, financial strength, and strategic value creation. The company's emphasis on technology-driven efficiency and emission reduction positions it well for future growth and profitability.

Vital Energy Inc (VTLE) excels in Q2, targets sustainable growth

Vital Energy Inc (VTLE) delivered outstanding results in Q2 2023, setting company records for oil production and showcasing operational efficiencies. With a strategic focus on capital discipline and free cash flow generation, the company is well-positioned for future success despite potential challenges.

Vital Energy Inc (VTLE) reports robust Q3 results and strategic growth plans

Vital Energy Inc (VTLE) delivered strong Q3 performance with record production levels and successful acquisitions integration.
The company's focus on capital efficiency, cost reductions, and sustainability achievements underpins its operational strength.
Management's emphasis on generating free cash flow and hedging oil production for 2024 reflects a strategic financial approach.

Vital Energy Inc reports record 2023 performance and outlines 2024 strategy

Vital Energy Inc's strong 2023 performance and strategic focus position them well for 2024.
Balancing growth investments with debt reduction goals will be crucial for financial health.
Opportunities lie in optimizing operations, generating cash flow, and evaluating acquisition prospects.
Adapting to market changes while maintaining operational excellence will be key for sustained success.

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Vital Energy, Inc. engages in the exploration, development and acquisition of oil and natural gas properties in the Permian Basin of West Texas. The company was founded by Randy A. Foutch in October 2006 and is headquartered in Tulsa, OK.

Vital Energy began to transform after previous management was "shown the door" due to a letter to the board from Sailingstone. Current management has steadily improved finances, resulting in reduced interest rates paid for debt over time. Acquisitions were made to improve cash flow, with stock deals transforming the company's financial situation significantly.

Vital Energy: Going West For More Oil

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Vital Energy's Q1 2024 production ended up around 4% higher than its guidance midpoint. This continues a trend of new well outperformance, and it is likely to do better than its guidance midpoint for the full year. VTLE's lease operating expenses per BOE ended up 11% higher than expected in Q1 2024, though.

Vital Energy: Strong Production Performance, But Dealing With Elevated Operating Costs

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Calgary, Alberta--(Newsfile Corp. - May 31, 2024) - Vital Energy Inc. (TSXV: VUX) (the "Corporation") is pleased to announce that Mr. Zhen Jiang has been appointed as the Chief Financial Officer of the Corporation effective as of June 1, 2024.

Vital Energy Announces New CFO

TULSA, OK, May 28, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today announced its intention to mandatorily convert all outstanding shares of its 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock"), into shares of the Company's common stock, par value $0.01 per share, on June 4, 2024 pursuant to the terms of the Certificate of Designations of 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock. Holders of Series A Preferred Stock do not need to take any action. As of May 28, 2024, the Company had 1,575,376 shares of Series A Preferred Stock outstanding.

Vital Energy Announces Conversion of 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock

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Vital Energy, Inc. (NYSE:VTLE ) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants Ron Hagood – Vice President-Investor Relations Jason Pigott – President and Chief Executive Officer Katie Hill – Senior Vice President and Chief Operating Officer Bryan Lemmerman – Executive Vice President and Chief Financial Officer Kyle Coldiron – Vice President-Development and Production Conference Call Participants Neal Dingmann – Truist Securities Zach Parham – JPMorgan Derrick Whitfield – Stifel Tim Rezvan – KeyBanc Capital Markets Hanwen Chang – Wells Fargo Geoff Jay – Daniel Energy Partners Paul Diamond – Citi Gregg Brody – Bank of America Brian Velie – Capital One Securities Operator Good day, ladies and gentlemen, and welcome to Vital Energy's First Quarter 2024 Earnings Conference Call. My name is John and I will be your conference operator for today.

Vital Energy, Inc. (VTLE) Q1 2024 Earnings Call Transcript

Vital Energy (VTLE) came out with quarterly earnings of $1.91 per share, beating the Zacks Consensus Estimate of $1.78 per share. This compares to earnings of $4.50 per share a year ago.

Vital Energy (VTLE) Q1 Earnings and Revenues Top Estimates

Company sets quarterly total and oil production records with capital investments below expectations Company sets quarterly total and oil production records with capital investments below expectations

Vital Energy Reports First-Quarter 2024 Financial and Operating Results

Vital Energy (VTLE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Vital Energy (VTLE) Expected to Beat Earnings Estimates: Should You Buy?

Calgary, Alberta--(Newsfile Corp. - April 25, 2024) - Vital Energy Inc. (TSXV: VUX) (the "Corporation") announces that the Corporations's 2023 Annual Financial Statements, Management's Discussion and Analysis and Forms 51-101 regarding Statement of Reserves Data and Other Oil and Gas Information have been filed on SEDAR (www.sedarplus.ca) and are also available on the Corporation's website (www.vitalenergyoil.com). On October 25, 2023, the Corporation commenced drilling six (6) horizontal wells in the Cardium reservoir at pad 1-29-50-10W5 in the Pembina area of Alberta.

Vital Energy Announces 2023 Filing of Financials and Reserves Evaluation and Results of the Pembina Drilling Program

TULSA, OK, April 15, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") will report first-quarter 2024 financial and operating results after the market close on Wednesday, May 8, 2024 and host a conference call and webcast on Thursday, May 9, 2024, at 7:30 a.m. CT.

Vital Energy Schedules First-Quarter 2024 Earnings Release and Conference Call

Calgary, Alberta--(Newsfile Corp. - April 3, 2024) - Vital Energy Inc. (TSXV: VUX) (the "Corporation") announces that, further to its December 5, 2023 news release, its existing $10 million credit facility (the "Credit Facility") has been assigned from the existing lender, a company controlled by Mr. Hai Zhou (a director and control person of the Corporation), to an arm's length third party lender.

Vital Energy Announces New Lender Under Existing Credit Facility

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TULSA, OK, April 01, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc., a Delaware corporation (NYSE: VTLE) (“Vital Energy” or the “Company”), today announced that it has amended its previously announced cash tender offer (the “Tender Offer”) for its 9.750% senior notes due 2030 (the “2030 Notes”).

Vital Energy Announces Increase in Tender Cap for Senior Notes Due 2030

TULSA, OK, April 01, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc., a Delaware corporation (NYSE: VTLE) (“Vital Energy” or the “Company”), today announced the pricing of its previously announced private placement offering (the “Offering”), upsized to $200.0 million in aggregate principal amount, of 7.875% senior notes due 2032 (the “senior notes”) at 100.75% of par, plus accrued and unpaid interest from March 28, 2024, in a private placement to eligible purchasers. The Offering is expected to close on or about April 3, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering, if completed, to repay or repurchase indebtedness, including in connection with the funding of the purchase for cash our 10.125% senior notes due 2028 and certain of our 9.750% senior notes due 2030 in the cash tender offers (the “Tender Offers”) the Company commenced pursuant to an offer to purchase dated March 14, 2024, as amended, or for general corporate purposes.

Vital Energy Prices Upsized Offering of $200.0 Million of Senior Notes

TULSA, OK, April 01, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc., a Delaware corporation (NYSE: VTLE) (“Vital Energy” or the “Company”), today announced that it intends to offer (the “Offering”), subject to market and other conditions, $100.0 million in aggregate principal amount of 7.875% senior notes due 2032 (the “senior notes”) in a private placement to eligible purchasers. The Company intends to use the net proceeds from this offering, if completed, to repay or repurchase indebtedness, including in connection with the funding of the purchase for cash our 10.125% senior notes due 2028 and certain of our 9.750% senior notes due 2030 in the cash tender offers (the “Tender Offers”) the Company commenced pursuant to an offer to purchase dated March 14, 2024, as amended, or for general corporate purposes. The senior notes will be senior unsecured obligations of the Company and will be guaranteed on a senior unsecured basis by Vital Midstream Services, LLC, a subsidiary of the Company, and certain of its future subsidiaries.

Vital Energy Announces Offering of $100.0 Million of Senior Notes

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TULSA, OK, March 28, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc., a Delaware corporation (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced the early results of its previously announced cash tender offers (the “Tender Offers”) to purchase for cash up to $550.0 million aggregate principal amount (as such aggregate principal amount may be increased or decreased by the Company, the “Aggregate Maximum Tender Amount”) of (i) up to $475.0 million (the “2028 Cap”) of its 10.125% senior notes due 2028 (the “2028 Notes”) and (ii) up to $75.0 million (the “2030 Cap” and, together with the 2028 Cap, the “Series Caps”) of its 9.750% senior notes due 2030 (the “2030 Notes” and, together with the 2028 Notes, the “Tender Notes”), subject to the terms and conditions set forth in the Offer to Purchase, dated March 14, 2024 (as amended, the “Offer to Purchase”). In addition, the Company announced that it has amended the Tender Offers to remove the 2028 Cap and the Aggregate Maximum Tender Amount (as a result, it will accept any and all 2028 Notes tendered in the Tender Offers) and increase the 2030 Cap to $100.0 million aggregate principal amount. Except as described in this press release, the terms and conditions of the Tender Offers set forth in the Offer to Purchase remain unchanged. Capitalized terms used but not defined herein have the meaning given to them in the Offer to Purchase.

Vital Energy Announces Early Results and Increase of its Cash Tender Offers for its Senior Notes due 2028 and Senior Notes due 2030; Planned Redemption of Senior Notes due 2028

Vital Energy is projected to generate $338 million in 2024 free cash flow at the current strip. It is mostly hedged on oil, so changes in oil prices have a limited impact on projected free cash flow. Vital has extended its average debt maturity and it is expected that 70% of its notes will now mature in 2030 or 2032.

Vital Energy Extends Its Debt Maturities And Continues To Deleverage

Vital Energy is focusing on acquiring acreage that other large companies are not interested in, which is cheaper and more profitable for the company. The management's ability to capture cost savings and efficiencies has exceeded expectations, leading to increased profitability. The company plans to test and potentially exploit "iffy" intervals on their acreage, and if unsuccessful, they can wait for technology advancements to change the outcome.

Vital Energy: Raising The Bar

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TULSA, OK, March 14, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc., a Delaware corporation (NYSE: VTLE) (“Vital Energy” or the “Company”), today announced the pricing of its previously announced private placement offering (the “Offering”), upsized to $800.0 million in aggregate principal amount, of 7.875% senior notes due 2032 at 100% of par (the “senior notes”) in a private placement to eligible purchasers. The Offering is expected to close on March 28, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds of the offering, if completed, together with existing corporate liquidity, to (a) purchase for cash of up to (i) $475.0 million aggregate principal amount of our 10.125% senior notes due 2028 and (ii) $75.0 million aggregate principal amount of our 9.750% senior notes due 2030 in the cash tender offers the Company commenced pursuant to an offer to purchase dated March 14, 2024, (b) pay fees and expenses incurred therewith, to (c) repay borrowings outstanding under our senior secured credit facility and/or (d) to fund other debt repurchases. The senior notes will be senior unsecured obligations of the Company and will be guaranteed on a senior unsecured basis by Vital Midstream Services, LLC, a subsidiary of the Company, and certain of its future subsidiaries.

Vital Energy Prices Upsized Offering of $800.0 Million of Senior Notes

TULSA, OK, March 14, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced that it has commenced cash tender offers (the “Tender Offers”) to purchase for cash up to $550.0 million aggregate principal amount (the “Aggregate Maximum Tender Amount”) of the outstanding notes listed in the table below, provided that the Company will not accept for purchase more than $475.0 million (the “2028 Cap”) of its 10.125% senior notes due 2028 (the “2028 Notes”) and $75.0 million (the “2030 Cap” and, together with the 2028 Cap, the “Series Caps”) of its 9.750% senior notes due 2030 (the “2030 Notes” and, together with the 2028 Notes, the “Tender Notes”), subject to certain conditions.

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