Vital Energy Q1 record production; net loss $66M, adj net income $68M; $1B notes issued

Vital Energy, Inc.

2024-Q1 EPS reported -$1.87 revenue$482,339,000

Record Q1 total production 124.7 MBOE/d (58.5 MBO/d oil), exceeding guidance high-end; 20-well package outperformed.
Net loss $66.1M; adjusted net income $68.1M; EBITDAX $301.3M; Adjusted Free Cash Flow $43.3M.
Capital investments $217.9M, below expectations.
Issued $800M (plus $200M subsequent) 7.875% senior notes due 2032; redeemed higher-cost notes, saving $11M annual interest.
Drilled three horseshoe wells in Upton County; one set industry record at 23,650 ft measured depth.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Vital Energy, Inc. reported the quarter ended March 31, 2024 results: net income $66.1 million.

Period: the quarter ended March 31, 2024
Net income: $66.1 million
Result: reported results

Exact text from the filing

First-Quarter 2024 Highlights • Execution of business plan and successful integration of acquired properties drove record production and higher-than-expected cash flows • Reported 1Q-24 net loss of $66.1 million, Adjusted Net Income 1 of $68.1 million and cash flows from operating activities of $158.6 million • Generated 1Q-24 Consolidated EBITDAX 1 of $301.3 million and Adjusted Free Cash Flow 1 of $43.3 million • Reported record 1Q-24 total and oil production that exceeded the high-end of guidance, producing 124.7 thousand barrels of oil equivalent per day ("MBOE/d") and 58.5 thousand barrels of oil per day ("MBO/d"), respectively • Production outperformance attributed to a 20-well package of long-lateral wells in W.

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Source: SEC EDGAR

accession 0001528129-24-000104

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