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Sep 30, 2024
Vital Energy Q3 2024 Earnings Report
Reported strong third-quarter results driven by the Point Energy acquisition and operational efficiencies.
Key Takeaways
Vital Energy reported a strong third quarter in 2024, marked by record production and the successful acquisition of Point Energy. The company increased its full-year total and oil production guidance due to the outperformance of acquired assets and optimized operations. They closed the Point Energy acquisition for $815 million.
Closed the Point Energy acquisition for $815 million.
Reported net income of $215.3 million and cash flows from operating activities of $246.2 million.
Achieved record production of 133.3 MBOE/d and 59.2 MBO/d.
Reduced lease operating expense to $8.78 per BOE, below guidance of $8.95 per BOE.
Increased 2025 oil hedges to approximately 16.1 million barrels at $74.79 per barrel NYMEX WTI
Vital Energy
Vital Energy
Vital Energy Revenue by Segment
Revenue by Segment
Oil Sales Revenue
CapyFin.comNGL Sales Revenue
CapyFin.comNatural Gas Sales Revenue
CapyFin.com Forward Guidance
Vital Energy increased its fourth quarter total and production guidance to 137.0 - 143.0 MBOE/d and 66.5 - 69.5 MBO/d, respectively. The Company reiterated its capital guidance at $175 - $200 million.
Positive Outlook
- Plan to operate five drilling rigs and one to two completions crews
- TIL 26 wells, including five on Point acreage
Revenue & Expenses
Visualization of income flow from segment revenue to net income