Welcome to our dedicated page for Vital Energy news (Ticker: $VTLE), a resource for investors and traders seeking the latest updates and insights on Vital Energy stock.
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Rhea-AI Summary
Granite Ridge Resources, Inc. (NYSE: GRNT) reported strong financial and operating results for Q4 2023 and full-year 2023, with notable highlights including an 18% production growth, net income of $17.5 million, and Adjusted Net Income of $26.4 million. The company deployed $78.4 million of capital, placed 80 wells online, and declared a dividend of $0.11 per share. They ended 2023 with $140.1 million of liquidity and completed the sale of certain Permian Basin assets to Vital Energy, Inc. Granite Ridge's President and CEO, Luke Brandenberg, expressed optimism for 2024, projecting a 7% production increase from 2023 levels. The company's proven reserves increased by 6% year-over-year, and they closed ten transactions in Q4 2023 to enhance their asset base.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.47%
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Rhea-AI Summary
Vital Energy, Inc. reported strong financial and operational results for the fourth quarter and full year of 2023, exceeding guidance in total and oil production. The company plans to invest $750 - $850 million in FY-24 to increase oil production by ~10% from 4Q-23 levels. Vital Energy updated its development inventory to over 10 years of oil-weighted locations, showcasing its commitment to long-term value creation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.37%
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Rhea-AI Summary
Vital Energy, Inc. announced the acquisition of additional working interests in producing assets from Henry Energy LP, Moriah Henry Partners LLC, and Henry Resources LLC for approximately $78 million. This purchase increases Vital Energy’s working interest in 54 producing, low-decline wells by an average of 67%, leading to an estimated 2024 production increase of approximately 1,850 BOE/d (51% oil) and estimated 2024 Free Cash Flow increase by approximately $25 million. The company funded the transaction through the issuance of shares of its common stock and mandatorily convertible preferred securities. President and CEO, Jason Pigott, expressed satisfaction with the transactions, stating that they were attractively priced, accretive to Free Cash Flow per share, and supportive of the company's deleveraging goals.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.29%
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Rhea-AI Summary
Granite Ridge Resources, Inc. (NYSE: GRNT) provided an operational update and released select preliminary fourth-quarter 2023 results. The company closed a vital asset sale, reported operational updates, and announced earnings release and conference call details. The sale of Permian Basin assets to Vital Energy, Inc. for shares and convertible preferred securities was a significant transaction. The company reported fourth-quarter operational updates, including acquisitions and controlled CapEx through strategic partnerships. The total production and oil production for the quarter were also disclosed. The year-end 2023 SEC proved reserves summary and balance sheet items were provided. The company also announced fourth-quarter and full-year 2023 earnings release and conference call details.
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Rhea-AI Sentiment
End-of-Day
0.56%
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Rhea-AI Summary
Vital Energy, Inc. (NYSE: VTLE) provided preliminary results for fourth-quarter 2023, exceeding total and oil production outlook with in-line capital investments. The company reported average daily total production of 113.4 MBOE/d and oil production of 52.8 MBO/d. Total incurred capital expenditures were approximately $190 million. The fourth-quarter 2023 earnings release and conference call details were also provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.61%
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Rhea-AI Summary
Vital Energy, Inc. (NYSE: VTLE) announced the acquisition of additional working interests in producing assets from Henry Energy LP, Moriah Henry Partners LLC, and Henry Resources LLC for $55 million. This purchase will increase Vital Energy's working interest in 45 wells by an average of 24%, boosting the estimated 2024 production by approximately 1,400 BOE/d (57% oil). The transaction is expected to increase Vital Energy's 2024 Free Cash Flow by $20 million, aligning with the company's deleveraging goals.
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Rhea-AI Sentiment
End-of-Day
1%
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Vital Energy, Inc. (VTLE) announces the mandatory conversion of its 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock into common stock on November 29, 2023. Holders of Series A Preferred Stock do not need to take any action. The Company had 6,131,381 shares of Series A Preferred Stock outstanding as of November 21, 2021. Each outstanding share of Series A Preferred Stock will automatically convert into one share of common stock on the specified date.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.41%
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Vital Energy, Inc. (NYSE: VTLE) announced the promotion of Katie Hill to Senior Vice President and Chief Operating Officer. Ms. Hill brings over 15 years of operational experience in the energy exploration and production sector, with a proven track record of successfully integrating and optimizing acquired assets and leading multi-basin development programs. Her appointment reflects Vital Energy's commitment to innovation and value creation in the Permian Basin.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.23%
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Rhea-AI Summary
Vital Energy, Inc. reported its Q3 2023 financial and operating results, exceeding production guidance and increasing its full-year 2023 outlook. The company announced three Permian Basin acquisitions, reported net income of $4.9 million, and generated consolidated EBITDAX of $286.5 million. Capital expenditures were below guidance. Vital Energy also published its 2023 Sustainability Report and Climate Risk and Resilience Report.
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Rhea-AI Sentiment
End-of-Day
2.55%
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Rhea-AI Summary
Vital Energy, Inc. provides preliminary results for Q3 2023, exceeding production outlook and reporting lower capital investments. Earnings release and conference call details also provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.45%
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Vital Energy, Inc.
NYSE:VTLE
VTLE Rankings
VTLE Stock Data
1.75B
23.71M
22.75%
66.75%
21.61%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
United States of America
TULSA
About VTLE
laredo petroleum, inc. is an independent energy company with headquarters in tulsa, oklahoma. laredo’s business strategy is focused on the acquisition, exploration and development of oil and natural gas properties and the gathering of oil and liquids-rich natural gas from such properties, primarily in the permian basin of west texas.