Vital Energy(VTLE)

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Vital Energy Announces Conversion of 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock
globenewswire.com· 2024-05-28 20:30
TULSA, OK, May 28, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today announced its intention to mandatorily convert all outstanding shares of its 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock"), into shares of the Company's common stock, par value $0.01 per share, on June 4, 2024 pursuant to the terms of the Certificate of Designations of 2.0% Cumulative Mandatorily Convertible Series ...
Vital Energy(VTLE) - 2024 Q1 - Earnings Call Transcript
2024-05-09 16:51
Vital Energy, Inc. (NYSE:VTLE) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants Ron Hagood – Vice President-Investor Relations Jason Pigott – President and Chief Executive Officer Katie Hill – Senior Vice President and Chief Operating Officer Bryan Lemmerman – Executive Vice President and Chief Financial Officer Kyle Coldiron – Vice President-Development and Production Conference Call Participants Neal Dingmann – Truist Securities Zach Parham – JPMorgan Derrick Whitfield – Stifel ...
Vital Energy(VTLE) - 2024 Q1 - Earnings Call Presentation
2024-05-09 14:05
1Q-24 Earnings Presentation General risks relating to Vital Energy include, but are not limited to, continuing and worsening inflationary pressures and associated changes in monetary policy that may cause costs to rise; changes in domestic and global production, supply and demand for commodities, including as a result of actions by the Organization of Petroleum Exporting Countries and other producing countries ("OPEC+") and the RussianUkrainian or Israel-Hamas military conflicts, the decline in prices of oi ...
Vital Energy (VTLE) Q1 Earnings and Revenues Top Estimates
Zacks Investment Research· 2024-05-08 22:56
Vital Energy (VTLE) came out with quarterly earnings of $1.91 per share, beating the Zacks Consensus Estimate of $1.78 per share. This compares to earnings of $4.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.30%. A quarter ago, it was expected that this oil and natural gas company would post earnings of $2.44 per share when it actually produced earnings of $2.55, delivering a surprise of 4.51%.Over the last four quarter ...
Vital Energy(VTLE) - 2024 Q1 - Quarterly Report
2024-05-08 22:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35380 Vital Energy, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or Delaware 45-3007926 organization) (I.R.S. Employer Identification No.) ☒ QUARTERLY REPORT PURSUANT ...
Vital Energy(VTLE) - 2024 Q1 - Quarterly Results
2024-05-08 20:34
EXHIBIT 99.1 Vital Energy Reports First-Quarter 2024 Financial and Operating Results Company sets quarterly total and oil production records with capital investments below expectations TULSA, OK - May 8, 2024 - Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported first-quarter 2024 financial and operating results. Supplemental slides have been posted to the Company's website and can be found at www.vitalenergy.com. A conference call and webcast is planned for 7:30 a.m. CT, Thursd ...
Vital Energy Prices Upsized Offering of $800.0 Million of Senior Notes
Newsfilter· 2024-03-14 20:43
TULSA, OK, March 14, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc., a Delaware corporation (NYSE:VTLE) ("Vital Energy" or the "Company"), today announced the pricing of its previously announced private placement offering (the "Offering"), upsized to $800.0 million in aggregate principal amount, of 7.875% senior notes due 2032 at 100% of par (the "senior notes") in a private placement to eligible purchasers. The Offering is expected to close on March 28, 2024, subject to the satisfaction of customary closing c ...
Vital Energy Commences Tender Offers For a Portion of Its Senior Notes Due 2028 and Its Senior Notes Due 2030
Newsfilter· 2024-03-14 12:55
TULSA, OK, March 14, 2024 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE:VTLE) ("Vital Energy" or the "Company") today announced that it has commenced cash tender offers (the "Tender Offers") to purchase for cash up to $550.0 million aggregate principal amount (the "Aggregate Maximum Tender Amount") of the outstanding notes listed in the table below, provided that the Company will not accept for purchase more than $475.0 million (the "2028 Cap") of its 10.125% senior notes due 2028 (the "2028 Notes") and $75. ...
Vital Energy(VTLE) - 2023 Q4 - Annual Report
2024-03-10 16:00
Risks and Challenges - The company faces significant risks including geopolitical tensions affecting the hydrocarbon market and potential loss of key personnel [37]. - Oil, NGL, and natural gas prices are volatile, which adversely impacts the company's financial condition and operational results [42]. - The company requires substantial capital expenditures and may struggle to obtain necessary financing on favorable terms [45]. - The company has incurred net losses in certain years and may continue to do so, impacting its ability to achieve profitability [232]. - The company’s ability to generate cash flow is influenced by various external factors beyond its control, including economic and regulatory conditions [229]. - The company is exposed to interest rate risk due to borrowings under its Senior Secured Credit Facility, which could increase operational costs [227]. - The company’s borrowing base is subject to periodic redetermination, which could negatively impact liquidity and operational funding [230]. Regulatory and Environmental Factors - The company may face increased costs and operational restrictions due to new environmental regulations and legislation [45]. - New legislation regarding hydraulic fracturing and water disposal could increase operational costs and impose additional restrictions [237]. - The company relies on water for drilling and hydraulic fracturing; restrictions on water use could adversely affect production and financial condition [238]. - Environmental regulations may impose significant costs and liabilities, affecting operational activities and profitability [250]. - Changes in tax laws could adversely affect the company's financial condition and cash flow, particularly regarding deductions and allowances [254]. - The Dodd-Frank Act and related regulations may increase costs and reduce the availability of derivatives, impacting financial stability [253]. - Climate change legislation could lead to increased operating costs and reduced demand for oil and natural gas products [245]. - Regulatory initiatives addressing seismic activity could restrict drilling and increase operational costs, adversely affecting business [242]. - Seasonal and permanent restrictions on drilling activities to protect wildlife may increase operating and capital costs, potentially delaying operations and intensifying competition for resources [256]. Operational and Financial Flexibility - The company’s ability to maintain its workforce and recruit qualified personnel is critical for its operations [37]. - The company’s marketability of production is dependent on transportation and processing services, which it does not control [42]. - The company's debt agreements contain various covenants that limit operational flexibility, including restrictions on incurring additional indebtedness and paying dividends [233]. - A breach of covenants could lead to a default, resulting in acceleration of indebtedness, which may not be repayable by the company [235]. - The company is dependent on the ability to drill allocation wells; regulatory changes could adversely impact future production and capital efficiencies [236]. Corporate Governance and Shareholder Rights - The company’s amended bylaws allow the board to issue preferred stock without shareholder approval, which could delay or prevent a change in control and adversely affect common stock value [259]. - Delaware law restricts business combinations with stockholders owning 15% or more of the company’s stock for three years, which may limit potential acquisitions and affect stockholder rights [261]. - The company has no current plans to pay cash dividends on common stock, intending to retain earnings for business development and growth [263].
Vital Energy(VTLE) - 2023 Q4 - Earnings Call Transcript
2024-02-22 15:50
Vital Energy, Inc. (NYSE:VTLE) Q4 2023 Earnings Conference Call February 22, 2024 8:30 AM ET Company Participants Ron Hagood - VP, IR Jason Pigott - President & CEO Katie Hill - SVP & COO Bryan Lemmerman - EVP & CFO Kyle Coldiron - VP, Development & Production Conference Call Participants Neal Dingmann - Truist Securities Zachary Parham - JPMorgan Tim Rezvan - KeyBanc Capital Markets Paul Diamond - Citigroup Gregg Brody - Bank of America Derrick Whitfield - Stifel Operator Good day, ladies and gentlemen, an ...