Vital Energy Q1 2024 Earnings Report
Key Takeaways
Vital Energy reported a net loss of $66.1 million, but an adjusted net income of $68.1 million. The company set record total and oil production, averaging 124.7 MBOE/d and 58.5 MBO/d, respectively. Capital investments totaled $217.9 million, excluding non-budgeted acquisitions and leasehold expenditures.
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 of $68.1 million and cash flows from operating activities of $158.6 million.
Generated 1Q-24 Consolidated EBITDAX of $301.3 million and Adjusted Free Cash Flow 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 and 58.5 thousand barrels of oil per day, respectively.
Vital Energy
Vital Energy
Vital Energy Revenue by Segment
Forward Guidance
The Company reiterated its full-year 2024 total and oil production guidance of 116.5 - 121.5 MBOE/d and 55.0 - 59.0 MBO/d, respectively. Full-year 2024 capital investments guidance is unchanged at $750 - $850 million, with development activity moderating in the second-half of the year.