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1Q 2023 Earnings Presentation – Vital Energy, Inc.

Vital Energy, Inc. · May 3, 2023 · 23 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 1
    1Q-23 Earnings Presentation
  2. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 2
    Strong First-Quarter 2023 Performance Oil Production MBO/d Exceeded high-end of production guidance for both oil and total production Guidance Range Production from both base and new wells exceeding expectations 33.0 36.0 Increased…
  3. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 3
    Disciplined Strategy Underpins Long-Term Value Creation Pure-Play Midland Basin Producer Strong Well Performance5 Across the Portfolio Maintain Capital Discipline Inventory Locations2 200 N. Howard C. Howard Howard 115 W. Glasscock…
  4. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 4
    Accretive Transactions Driving Company Performance Oil-Weighted Transactions 4Q-19 - Current Oil Production Growth MBO/d Acquisitions 2019 E. Glasscock / Reagan Initial Howard County 37.9 38.5 (4Q-19) 7,400 net acres 31.8 Initial…
  5. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 5
    Capital Efficient 2023 Development Program Full Year Capital Program Continuous Improvement Drives Capital Efficient Program Guidance FY-23E Drilling Ft. Per Day Per Rig Completed Stages Per Day Avg. Completed Lateral Length (Primary…
  6. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 6
    Leadership in a Low-Carbon Future OUR ENVIRONMENTAL…
  7. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 7
    Progress Toward Emissions Targets Demonstrates Continued ESG Leadership 2022 ESG Highlights 59% Reduction 89% Reduction Achieved two of our three 2025 emission reduction targets in 2022 2022 Scope 1 GHG Intensity 2022 Methane…
  8. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 8
    Compelling Investment Opportunity Enterprise Value to PDP Value Multiple1,2 YE-22 PV-103 Reserve Value Sensitivity MM 1.4x PUD 5,464 PD TEV4 4,022 1,322 3,325 0.9x 2,631 928 665 410 Significant Upside Potential 2,221 2,661…
  9. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 9
    Appendix
  10. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 10
    2Q-23 & FY-23 Guidance Guidance Commodity Prices Used for 2Q-23 2Q-23 FY-23 Apr-23 May-23 Jun-23 2Q-23 Avg. Production: Crude Oil: Total Production (MBOE/D) 85.5 - 88.5 76.0 - 80.0 WTI NYMEX (/BBO) 79.44 71.28 71.18 73.94 Crude…
  11. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 11
    Hedge Book Structured to Maintain Exposure to Higher Prices 2Q-23 3Q-23 4Q-23 FY-23 1Q-24 2Q-24 3Q-24 4Q-24 FY-24 Volumes Hedged2 WTI Swaps 183 552 552 1,287 21 19 18 17 76 Price 79.62 73.39 73.39 74.27 63.75 63.75 63.75 63.75 63.75…
  12. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 12
    Free Cash Flow Driving Return of Capital and Debt Reductions Current Debt Maturity Profile1 1.3 billion Borrowing Base (Credit Facility) 745 1.0 billion Elected Commitments (Credit Facility) 68 million Current Cash Balance1…
  13. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 13
    Howard County Development Program Development Inventory Locations1 Average Well Performance2 92 200 North N. Howard (WC-A / LSS / MS) C. Howard (WC-A / LSS) 37%, MS 175 Howard 35%, LSS 150 Central 23 26%, LSS Production…
  14. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 14
    W. Glasscock County Development Program Development Area Inventory Locations1 Average Well Performance2 150 W. Glasscock (WC-A / LSS / WC-D) 295 22%, LSS Glasscock 125 32%, WC-A 46%, WC-D 100 Production per Well (MBO)…
  15. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 15
    Upton / S. Reagan County Development Program Development Area Inventory Locations1 Average Well Performance2 175 Upton / S. Reagan (WC-B) 30 Reagan 150 Upton 100%, WC-B 125 Production per Well (MBO) Upton / S. Reagan…
  16. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 16
    Wolfcamp D in Glasscock County Extends Oil-Weighted Inventory Average Well Performance by Completion Design1 Wolfcamp D Producing Wells 150 VTLE W. Glasscock 1,500 /ft VTLE E. Glasscock 1,500 /ft VTLE < 1,500 /ft 125 Production…
  17. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 17
    Proved Reserves Underpin Company Value Proved Reserves Components YE-22 Annual Base Production Decline Expecatations1 FY-23 FY-24 FY-25 Howard 46% 33% 23% PUD Oil, MBO/d 26% Total Company 41% 27% 19% Howard 41% 31% 22% Total…
  18. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 18
    Supplemental Non-GAAP Financial Measures Free Cash Flow Free Cash Flow is a non-GAAP financial measure that the Company defines as net cash provided by operating activities (GAAP) before net changes in operating assets and liabilities…
  19. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 19
    Supplemental Non-GAAP Financial Measures Consolidated EBITDAX Consolidated EBITDAX is a non-GAAP financial measure defined in the Company's Senior Secured Credit Facility as net income or loss (GAAP) plus adjustments for share-settled…
  20. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 20
    Supplemental Non-GAAP Financial Measures Consolidated EBITDAX The following table presents a reconciliation of net income (loss) (GAAP) to Consolidated EBITDAX (non-GAAP) for the periods presented: Trailing Twelve Three Months Ended…
  21. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 21
    Supplemental Non-GAAP Financial Measures Consolidated EBITDAX The following table presents a reconciliation of net cash provided by operating activities (GAAP) to Consolidated EBITDAX (non-GAAP) for the periods presented: Three Months…
  22. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 22
    Supplemental Non-GAAP Financial Measures Net Debt Net Debt is a non-GAAP financial measure defined in the Companys Senior Secured Credit Facility as the face value of long-term debt plus any outstanding letters of credit, less cash and…
  23. 1Q 2023 Earnings Presentation – Vital Energy, Inc. – slide 23
    Supplemental Non-GAAP Financial Measures PV-10 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 measure. PV-10…

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