January 2023 Investor Presentation January 8, 2023
We are Vital Energy We strive to make energy available, sustainable and Our abundant to power peoples prosperity, security and Company dreams for the future. Our Since our founding we have sought new and better ways Legacy to…
Fourth-Quarter 2022 Updates Solid Fourth-Quarter 22 Execution 1 Oil production expected to be 35.5 MBO/d, above high end of guidance (32.0-34.0 MBO/d) Total production expected to be 77.5 MBOE/d, above high end of guidance (72.5-75.5…
Disciplined Strategy Underpins Long-Term Value Creation Pure-Play Midland Basin Producer Maintain Capital Discipline TX HOWARD 33,000 net acres 165 locations2 Generate Free Cash Flow1 35.5 Mboe/d 70% oil Howard Reduce Debt…
Stronger Company Built on Strategic Execution Key Metrics YE-19A YTD-22A Change Enterprise Value 1.8 B 1.9 B1 +0.1 B Net Acres 133,500 163,000 +29,500 Oil Production 27.3 MBO/D 35.0 MBO/D2 +7.7 MBO/D Free Cash Flow4 60 MM 183…
Delivering on Our Plan Free Cash Flow1 Repurchasing Debt 183 285 Program 109 152 Initiated 2Q-22 101 23 51 32 1Q-22A 2Q-22A 3Q-22A 1Q-3Q 22A 1Q-22A 2Q-22A 3Q-22A 4Q-22A FY-22A (Units in millions) (Units in millions Face…
Current Development Plan Focused on Howard County Near-Term Development Program Focused in North Howard Average Well Performance1 200 North Howard Central Howard (2Q-21+) Central Howard (4Q-20 to 1Q-21) Leech (2Q-22) NORTH…
Disciplined, Capital Efficient Development Program 4Q-22E Capital Program Continuous Improvement Drives Capital Efficient Drilling and Completion Program Guidance Drilling Ft. Per Day Per Rig Fractured Ft. Per Day Per Crew Avg.…
Free Cash Flow Driving Return of Capital and Debt Reductions Deleveraging through Free Cash Flow1 Generation 1Q-3Q 22A Free Cash Flow1 Term Debt2 Reduced FY-22 Net Debt to Consolidated EBITDAX1,3 183 million 285 million 2.61x…
Leadership in a Low-Carbon Future OUR ENVIRONMENTAL…
Compelling Investment Opportunity 2023E EV / EBITDAX vs. FCF Field Peer Comparison2,3 8.0x 6.0x Generating Avg. Free Cash Flow1 4.0x 2.0x VTLE 0.0x Reducing 0% 10% 20% 30% Debt and Leverage Enterprise Value / PDP Peer…
Appendix
4Q-22 Guidance Guidance Commodity Prices Used for 4Q-22 4Q-22 Oct-22 Nov-22 Dec-22 4Q-22 Avg. Production: - Crude Oil: - - - - Total Production (MBOE/D) 72.5 - 75.5 WTI NYMEX (/BBO) 87.03 86.21 84.97 86.07 Crude Oil Production…
Current Hedge Program 1Q-23 2Q-23 3Q-23 4Q-23 FY-23 Crude Oil (Volume in MBO: Price in /BBO): WTI Collars 1,890 1,911 644 644 5,089 WTD Floor Price 68.10 68.10 70.00 70.00 68.58 WTD Ceiling Price 83.78 83.78 88.12 88.12 84.88…
Supplemental Non-GAAP Financial Measures Consolidated EBITDAX (Credit Agreement Calculation Unaudited) Consolidated EBITDAX is a non-GAAP financial measure defined in the Companys Senior Secured Credit Facility as net income or loss…
Supplemental Non-GAAP Financial Measures PV-10 (Unaudited) PV-10 is a non-GAAP financial measure that is derived from the standardized measure of discounted future net cash flows, which is the most directly comparable GAAP financial…
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