Vital Energy Q4 2019 Earnings Report
Key Takeaways
Laredo Petroleum reported a net loss of $241.7 million for Q4 2019, which included a non-cash impairment charge of $222.7 million. However, adjusted net income was $39.7 million, and adjusted EBITDA was $137.9 million. The company exceeded oil and total production expectations and completed 15 horizontal wells.
Reported a net loss attributable to common stockholders of $241.7 million, or $1.04 per diluted share, including a non-cash full cost ceiling impairment charge of $222.7 million.
Adjusted Net Income for the fourth quarter of 2019 was $39.7 million, or $0.17 per adjusted diluted share.
Adjusted EBITDA for the fourth quarter of 2019 was $137.9 million.
Exceeded both oil and total production expectations for the fourth consecutive quarter.
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Vital Energy Revenue by Segment
Forward Guidance
In the first quarter of 2020, Laredo expects to complete 28 gross (27.7 net) widely-spaced horizontal wells with an average completed lateral length of 8,500 feet. All anticipated first-quarter 2020 completions are on the Company's established acreage in Reagan and Glasscock counties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income