Vital Energy Inc. today announced the acquisition of additional working interests in producing assets associated with the recent asset acquisition from Henry Energy LP, Moriah Henry Partners LLC and Henry Resources LLC for total consideration of $55 million1. The purchase will increase Vital Energy's working interest in 45 wells by an average of 24%, increasing the Company's estimated 2024 production by approximately [...]
Vital Energy Inc. announces that it has entered into a loan agreement, effective December 4, 2023, with a company controlled by Mr. Hai Zhou, a director and control person of the Corporation, for a $10,000,000 credit facility . The Credit Facility matures on December 4, 2024 and funds advanced bear interest at a rate of 12% per annum, payable on the maturity date. Vital has determined that exemptions [...]
Vital Energy Inc. 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 , into shares of the Company's common stock, par value $0.01 per share, on November 29, 2023 pursuant to the terms of the Certificate of Designations of 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock. Holders of [...]
Vital Energy Inc. today announced the promotion of Katie Hill to Senior Vice President and Chief Operating Officer, effective November 13, 2023. Ms. Hill has been with Vital Energy since September 2022 and previously served as Vice President -Operations. Ms. Hill has more than 15 years of operational experience in the energy exploration and production sector, developing engineering and operational teams, successfully [...]
Record quarterly production exceeds guidance, leads to increased full-year 2023 outlook Capital investments in quarter were below guidance Publishes 2023 Sustainability Report and inaugural Climate Risk and Resilience Report TULSA, OK, Nov. 02, 2023 -- Vital Energy Inc. today reported its third-quarter 2023 financial and operating results. Supplemental slides have been posted to the Company's website and can be found at [...]
Vital Energy Inc. today provided select preliminary results for third-quarter 2023, including average daily total and oil production and incurred capital investments. Details for the Company's third-quarter 2023 earnings release and conference call are provided within this release. Third-Quarter 2023 Preliminary Production and Capital Expenditures Production. The Company's third-quarter 2023 total production averaged [...]
Vital Energy Inc., a Delaware corporation , announced today the pricing of $400 million in aggregate principal amount of 10.125% senior unsecured notes due 2028 at 101% of par and $500 million in aggregate principal amount of 9.750% senior unsecured notes due 2030 at 98.742% of par in an upsized registered underwritten offering for a total of $900 million. Interest for the notes due 2028 is payable on January 15 and July [...]
Vital Energy Inc., a Delaware corporation , announced today the pricing of an upsized underwritten public offering of 2,750,000 shares of its common stock for total gross proceeds of approximately $148.5 million. The Company has also granted the underwriters a 30-day option to purchase up to 412,500 additional shares of the Company's common stock. The Company intends to use a portion of the net proceeds from this offering [...]
Vital Energy Inc., a Delaware corporation , announced today the commencement of an underwritten public offering of 2,500,000 shares of its common stock, subject to market and other conditions. The Company expects to grant the underwriters a 30-day option to purchase up to 375,000 additional shares of the Company's common stock. The Company intends to use a portion of the net proceeds from this offering and a concurrent [...]
Vital Energy Inc., a Delaware corporation , announced today that it intends, subject to market conditions, to publicly offer $300 million in aggregate principal amount of 10.125% senior unsecured notes due 2028 and $500 million in aggregate principal amount of senior unsecured notes due 2030 in a registered underwritten offering for a total of $800 million. The Company intends to use a portion of the net proceeds from [...]
Vital Energy Inc. today announced the signing of three definitive agreements that will materially add scale in the Permian Basin, increase Free Cash Flow, enhance capital efficiency and significantly reduce leverage. Combined, the transactions have a total consideration of approximately $1.1653 billion, subject to customary closing price adjustments. The agreements were signed with affiliates of Henry Energy LP and Henry [...]
Raises estimates for full-year 2023 oil and total production Reduces expectations for 2023 capital investments 2024 outlook reflects ongoing operational synergies and capital-efficient development TULSA, OK, Aug. 08, 2023 -- Vital Energy Inc. today reported its second-quarter 2023 financial and operating results. Supplemental slides have been posted to the Company's website and can be found at www.vitalenergy.com. A [...]
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