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: | 1-918-8585504 |
| Website: | https://vitalenergy.com |
| IR: | See website |
| Key People | ||
| Mikell J. Pigott President, Chief Executive Officer, Director | Bryan J. Lemmerman Chief Financial Officer, Senior Vice President | Kathryn A. Hill Chief Operating Officer, Senior Vice President |
| Mark David Denny Senior 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 fiscal year ended 31 December 2023, Vital Energy Inc revenues decreased 19% to $1.55B. Net income applicable to common stockholders increased 10% to $694.6M. Revenues reflect Natural gas sales decrease of 70% to $63.2M, Sales of purchased oil decrease of 88% to $14.3M. Net Income benefited from Average Production Costs per unit, Total decrease of less than 1% to $11.22 per barrel, Gain (loss) on derivatives. |
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