Vital Energy Inc (N:VTLE)
Business Focus: Oil & Gas Exploration and Production
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 521 E. Second Street South, Suite 1000 TULSA OK 74120 |
| Tel: | N/A |
| Website: | https://vitalenergy.com |
| IR: | See website |
| Key People | ||
| Mikell J. Pigott President, Chief Executive Officer, Director | Bryan J. Lemmerman Chief Financial Officer, Executive Vice President | Katie A. Hill Chief Operating Officer, Senior Vice President |
| Mark David Denny Executive Vice President, General Counsel, Secretary | Stephen L. Faulkner Chief Accounting Officer, Vice President | |
| Business Overview |
| Vital Energy, Inc. is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties in the Permian Basin of West Texas. The Company operates through a single segment, exploration and production. It has assembled 265,306 largely contiguous net acres in the Permian Basin, most of which is prospective for multi-zone development in Glasscock, Howard, Midland, Reagan, and Upton counties in the Midland Basin and Pecos, Reeves, and Ward counties in the Delaware Basin. The Company has purchased certain oil and gas properties in the Delaware Basin, including approximately 21,450 net acres located in Reeves County, 15,500 net acres located in Reeves County, and 24,000 net acres in Pecos, Reeves and Ward Counties. It has also purchased certain oil and natural gas properties in the Midland Basin, including approximately 11,200 net acres located in Upton and Reagan Counties. |
| Financial Overview |
| For the three months ended 31 March 2024, Vital Energy Inc revenues increased 45% to $482.3M. Net loss applicable to common stockholders totaled $66.5M vs. income of $113.9M. Revenues reflect Oil sales increase of 56% to $415.8M, NGL Sales increase of 43% to $47.1M, Other operating revenues increase of 46% to $1.2M. Net loss reflects Gain (loss) on derivatives, net decrease from $20.5M (income) to $152.1M (expense), Depletion. |
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