Vital Energy Completes Rebranding
January 08 2023 - 7:00PM
Vital Energy, Inc. (NYSE: VTLE) ("Vital" or the "Company") today
announced the completion of the Company’s rebranding and on Monday,
January 9, 2023, will begin trading under the ticker "VTLE" on the
NYSE. The Company’s new website is www.vitalenergy.com.
Additionally, Vital updated its outlook for
fourth-quarter 2022 production and incurred capital
expenditures.
Fourth-Quarter 2022 Production and
Incurred Capital Expenditure Outlook
- Oil production is expected to be approximately 35.5 thousand
barrels of oil per day ("MBO/D"), exceeding guidance of 32.0 - 34.0
MBO/D
- Total production is expected to be approximately 77.5 thousand
barrels of oil equivalent per day ("MBOE/D"), higher than guidance
of 72.5 - 75.5 MBOE/D
- Incurred capital expenditures are expected to be within the
Company’s guidance range of $135 - $145 million
Fourth-Quarter and Full-Year 2022 Earnings
Release and Conference Call
Vital plans to report complete fourth-quarter and
full-year 2022 financial and operating results after market close
on Tuesday, February 21, 2023, and host a conference call and
webcast on Wednesday, February 22, 2023 at 7:30 a.m. CT.
To participate in the call, dial 800.715.9871,
using conference code 5063785 or listen to the call via the
Company's website at www.vitalenergy.com, "Investor Relations |
News & Presentations." A replay will be available following the
call via the Company’s website.
About Vital Energy
Vital Energy, Inc. is an independent energy
company with headquarters in Tulsa, Oklahoma. Vital's business
strategy is focused on the acquisition, exploration and development
of oil and natural gas properties in the Permian Basin of West
Texas.
Additional information about Vital may be found on
its website at www.vitalenergy.com.
Forward-Looking Statements This
press release and any oral statements made regarding the contents
of this release, including in the conference call referenced
herein, contain forward-looking statements as defined under Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical facts, that address activities
that Laredo assumes, plans, expects, believes, intends, projects,
indicates, enables, transforms, estimates or anticipates (and other
similar expressions) will, should or may occur in the future are
forward-looking statements. The forward-looking statements are
based on management’s current belief, based on currently available
information, as to the outcome and timing of future events. Such
statements are not guarantees of future performance and involve
risks, assumptions and uncertainties. General risks relating to
Vital include, but are not limited to, the decline in prices of
oil, natural gas liquids and natural gas and the related impact to
financial statements as a result of asset impairments and revisions
to reserve estimates, the ability of the Company to execute its
strategies, including its ability to successfully identify and
consummate strategic acquisitions at purchase prices that are
accretive to its financial results and to successfully integrate
acquired businesses, assets and properties, oil production quotas
or other actions that might be imposed by the Organization of
Petroleum Exporting Countries and other producing countries
("OPEC+"), the outbreak of disease, such as the coronavirus
("COVID-19") pandemic, and any related government policies and
actions, changes in domestic and global production, supply and
demand for commodities, including as a result of the COVID-19
pandemic, actions by OPEC+ and the Russian-Ukrainian military
conflict, long-term performance of wells, drilling and operating
risks, the increase in service and supply costs, including as a
result of inflationary pressures, increases to interest rates as a
result of the Federal Reserve's tightening monetary policy, tariffs
on steel, pipeline transportation and storage constraints in the
Permian Basin, the possibility of production curtailment, hedging
activities, the impacts of severe weather, including the freezing
of wells and pipelines in the Permian Basin due to cold weather,
possible impacts of litigation and regulations, the impact of the
Company's transactions, if any, with its securities from time to
time, the impact of new laws and regulations, including those
regarding the use of hydraulic fracturing, the impact of new
environmental, health and safety requirements applicable to the
Company's business activities, the possibility of the elimination
of federal income tax deductions for oil and gas exploration and
development and other factors, including those and other risks
described in its Annual Report on Form 10-K for the year ended
December 31, 2021 and those set forth from time to time in other
filings with the Securities and Exchange Commission ("SEC"). These
documents are available through Vital's website at
www.vitalenergy.com, "Investor Relations" or through the SEC's
Electronic Data Gathering and Analysis Retrieval System at
www.sec.gov. Any of these factors could cause Vital's actual
results and plans to differ materially from those in the
forward-looking statements. Therefore, Vital can give no assurance
that its future results will be as estimated. Any forward-looking
statement speaks only as of the date on which such statement is
made. Vital does not intend to, and disclaims any obligation to,
correct, update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise, except as
required by applicable law.
All amounts, dollars and percentages presented in
this press release are rounded and therefore approximate.
Investor Contact:
Ron Hagood 918.858.5504
ron.hagood@vitalenergy.com
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