Vital Energy, Inc. (NYSE:VTLE) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET Company Participants Ron Hagood - Vice President, Investor Relations Jason Pigott - President and Chief Executive Officer Bryan Lemmerman - Senior Vice President and Chief Financial Officer Katie Hill - Vice President, Operations Kyle Coldiron - Vice President, Development & Production Conference Call Participants Derrick Whitfield - Stifel Operator Good day, ladies and gentlemen, and welcome to Vital Energy, Inc. Th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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. ...

Financial Data and Key Metrics Changes - The company reported a record oil production in the second quarter, with capital expenditures below expectations, reflecting efficiency gains and moderating inflationary pressures [70][71][84] - Free cash flow over the next 18 months is expected to be around $265 million, supported by a robust hedge book [8] - The midpoint of the fourth quarter oil production guidance is lower than the third quarter, reflecting planned development schedules [20][44] Business Line Data and Key Metrics Changes - The company has successfully integrated new assets from the Driftwood and Forge acquisitions, enhancing oil production capabilities [70][84] - Production volumes in the second quarter exceeded expectations, driven by base production outperformance and accelerated oil production from new wells [5][70] - The company is currently drilling a 20-well package in Western Glasscock, with completions expected to start in early March 2024 [6][44] Market Data and Key Metrics Changes - The company anticipates maintaining production levels similar to 2023, even after increasing production from recent acquisitions [68] - The company is focused on high-return oil-weighted acreage across the Permian Basin, particularly in Upton County and Delaware Basin [18][68] Company Strategy and Development Direction - The company remains focused on capital discipline, generating free cash flow, reducing debt, and targeting accretive acquisitions [3][68] - The strategy includes optimizing well productivity and improving operational efficiencies through the deployment of AI and digital solutions [13][21] - The company is actively evaluating smaller, accretive acquisitions in the Permian Basin, with a focus on oilier parts of the basin [52][54][112] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about operational performance and the integration of new assets, driving a strong outlook for the remainder of 2023 and 2024 [86] - The company expects to see improvements in cost structure and production optimization over the next 6 to 18 months [14][21] - Management highlighted the importance of maintaining a strong hedge book to lock in free cash flow for debt reduction [73][115] Other Important Information - The company has reduced the midpoint of its capital expenditure guidance for the year from $700 million to $680 million due to exceptional operational performance [86] - The company expects to be a federal taxpayer around 2026, as it anticipates utilizing its $1.2 billion net operating loss (NOL) to offset income for the next 2 to 3 years [23] Q&A Session All Questions and Answers Question: What is the outlook for production in the second half of 2023 and 2024? - Management indicated a dip in production for Q4 due to a lighter turn-in-line schedule, with expectations for production to remain flat in Q1 2024 before increasing in subsequent quarters as new wells come online [12][44] Question: How is the integration of the Driftwood and Forge assets progressing? - Management reported that Driftwood is nearly fully integrated, and they are leveraging scale and purchasing power to optimize operations and reduce costs [31][91] Question: What is the company's strategy regarding M&A activity? - The company is focused on smaller, accretive acquisitions in the Permian Basin, with a strategy shift towards deals in the $250 million to $500 million range [52][112]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 4 ...

| --- | --- | |-------------------------------------------------------------|-------------------| | (in millions) | December 31, 2022 | | Standardized measure of discounted future net cash flows | $4,755 | | Less present value of future income taxes discounted at 10% | (709) | | | | PV-10 (non-GAAP) $5,464 24 There are significant limitations to the use of Consolidated EBITDAX as a measure of performance, including the inability to analyze the effect of certain recurring and non-recurring items that materia ...

Vital Energy, Inc. (NYSE:VTLE) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Ronald Hagood - Vice President of Investor Relations Mikell Pigott - President and Chief Executive Officer Katie Hill - Vice President of Operations Bryan Lemmerman - Senior Vice President and Chief Financial Officer Conference Call Participants Derrick Whitfield - Stifel, Nicolaus & Company, Incorporated. Operator Good day, ladies and gentlemen, and welcome to Vital Energy, Inc., First Quarter 2023 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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 ...

Vital Energy, Inc. (NYSE:VTLE) Q4 2022 Results Conference Call February 22, 2023 8:30 AM ET Company Participants Ron Hagood - VP, IR Jason Pigott - President and CEO Bryan Lemmerman - SVP and CFO Katie Hill - VP, Operations Kyle Coldiron - VP, Development & Production Conference Call Participants Derrick Whitfield - Stifel Gregg Brody - Bank of America Nicholas Pope - Seaport Research Operator Good day, ladies and gentlemen, and welcome to Vital Energy, Inc.’s Fourth Quarter and Full Year 2022 Earnings Conf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35380 Vital Energy, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3007926 (State or other jurisdiction of incorporation or organization) (I.R.S. Employ ...

Laredo Petroleum, Inc. (LPI) Q3 2022 Results Conference Call November 4, 2022 8:30 AM ET Company Participants Ron Hagood - IR Jason Pigott - President and CEO Bryan Lemmerman - CFO Kyle Coldiron - VP of Development & Production Conference Call Participants John Annis - Stifel Karl Blunden - Goldman Sachs Zach Parham - JPMorgan Operator Ladies and gentlemen, thank you for standing by, and welcome to the Q3 2022 Laredo Petroleum, Inc. Earnings Conference Call. I would now like to turn the call over to Ron Hag ...