Record Production and Capital Discipline Drive Strong 1Q-24 Free Cash Flow 124.7 MBOE/d 58.5 MBO/d 218 MM Total Production Oil Production Capital Investments 159 MM 301 MM 43 MM Cash Flows from Consolidated EBITDAX1 Adjusted…
Expanded Permian Basin Scale Enhances Financial Performance Permian Basin Summary Midland GENERATE TX ADJUSTED FREE CASH FLOW1 Net Acres3 266,000 43 MM 1Q-24 Adj. Free Cash Flow1 1Q-24 Total Production 124.7 MBOE/d Howard Co. %…
Optimizing Development Maximizes Value of Acquired Properties Development Focused on High-Return Locations Added Since 2019 Targeted acquisitions expand high-return inventory Acquisitions 55.0 - 59.0 E. Glasscock / Reagan Co.…
Western Glasscock Package Outperforms Initial Expectations Timing and Productivity Outperformance Efficient, full-DSU development and three-mile laterals increase returns 20,000 Production Exceeding Peak and lower breakeven to 50…
Successful Integration of Southern Delaware Acquisitions Unlocks Incremental Value Lower Capital Cost & Improved Productivity Driving Down Breakeven Oil Price Applying operational expertise to acquired Delaware Basin properties DC&E…
Horseshoe Wells Substantially Increase Capital Efficiency and Lower Breakevens Capital Efficient, Long Lateral Horseshoe Well Development Successfully transferred technical knowledge gained from Midland Basin Delaware Basin horseshoe…
Optimized 2024 Development Program Rig Count Completion Crews 750 - 850 55.0 - 59.0 116.5 - 121.5 4 4 4 4 2 2 2 7% Capital Investments (MM) Oil Production (MBO/d) Total Production (MBOE/d) 29% 16% Spot Crew Flexibility 53% 50%…
Strong Financial Structure and Cash Flows Protected by Robust 2024 Hedges Active 2024 Hedge Program Protecting Adjusted Free Cash Flow1,2 Reduced weighted-average coupon on term debt from 9.53% to 8.21% Crude Oil Natural Gas Natural…
Investment Opportunity Driven by Consistent Value Creation 1 Proven track record of integrating acquisitions and improving returns 2 Consistently expanding inventory…
Appendix
2Q-24 & FY-24 Guidance Guidance Commodity Prices Used for 2Q-24 2Q-24 FY-24 Apr-24 May-24 Jun-24 2Q-24 Avg. Production: Crude Oil: Total Production (MBOE/D) 122.0 - 126.0 116.5 - 121.5 WTI NYMEX (/BBO) 84.39 78.08 77.63 80.01…
Vital Energy Trades at Discount to Proved Reserves Value Total Proved Reserves, MMBOE PV-10 Reserve Value Sensitivity, MM1,2 PUD PUD PD 166 PD 25% of Inventory Currently Booked as PUDs 405 5,037 4,489 302 (35) 3,990 951 (28)…
2023 Sustainability Report Highlights1 Significant Progress Toward Our Environmental Targets Social and Governance Highlights Category 2019 Baseline Target 2022 Performance Target Status Diversity, Equity and Inclusion by below 12.5…
Vital Energy Development Portfolio Summary Midland Delaware Midland Combined TX Net Acres1 68,000 198,000 266,000 Howard Co. Inventory 310 Gross 520 Gross 830 Gross NEW MEXICO Locations2 Glasscock Co. TEXAS Lateral Length…
Common Stock Outstanding May 3, December 31, December 31, 2024 2023 2022 Common Stock Outstanding 36,659,581 35,413,551 16,762,127 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock Outstanding 1,575,376…
Supplemental Non-GAAP Financial Measures Adjusted Free Cash Flow Adjusted 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…
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…
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: Three months Trailing twelve ended…
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…
Supplemental Non-GAAP Financial Measures Net Debt Net Debt is a non-GAAP financial measure defined in the Company's Senior Secured Credit Facility as the face value of long-term debt plus any outstanding letters of credit, less cash…
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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