Loading...
•
Dec 31, 2023
Vital Energy Q4 2023 Earnings Report
Vital Energy's Q4 2023 financial performance was marked by record total and oil production, exceeding guidance, alongside strategic acquisitions and a focus on operational efficiency.
Key Takeaways
Vital Energy reported a strong fourth quarter in 2023, characterized by record total and oil production that surpassed company guidance. The company's financial results included a net income of $281.4 million and adjusted net income of $76.1 million. Vital Energy also closed three Permian Basin acquisitions and announced a fourth, enhancing its operational scale and inventory.
Reported record total and oil production, exceeding guidance.
Net income reached $281.4 million, with adjusted net income at $76.1 million.
Consolidated EBITDAX was $304.2 million and Adjusted Free Cash Flow was $69.0 million.
Closed three Permian Basin acquisitions and announced a fourth to expand holdings.
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.comOther Operating Revenues Revenue
CapyFin.com Forward Guidance
Vital Energy's 2024 outlook includes capital investments between $750 to $850 million, expected total production of 116.5 - 121.5 MBOE/d, and oil production of 55.0 - 59.0 MBO/d.
Positive Outlook
- Plans to invest $750 - $850 million in 2024.
- Aims to increase FY-24 oil production ~10% from 4Q-23 exit.
- Expects total production of 116.5 - 121.5 MBOE/d for full-year 2024.
- Expects oil production of 55.0 - 59.0 MBO/d for full-year 2024.
- Operating four drilling rigs throughout the year and averaging 1.7 completions crews.
Challenges Ahead
- Capital investments are expected to peak in the first quarter.
- Net settlements paid for matured oil commodity derivatives are expected to be $(14) million in Q1 2024.
- Lease operating expenses are expected to be $8.40 per BOE in Q1 2024.
- Oil transportation and marketing expenses are expected to be $0.90 per BOE in Q1 2024.
- Gas gathering, processing and transportation expenses are expected to be $0.35 per BOE in Q1 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income