Vital Energy Preliminary 3Q Oil Production Beats Guidance

(RTTNews) - Vital Energy, Inc. (VTLE) Wednesday provided select preliminary results for third-quarter 2023, including average daily total and oil production and incurred capital investment.

The company's third-quarter production averaged approximately 101.3 thousand barrels of oil equivalent per day, above guidance of 94.0 - 98.0 MBOE/d. Oil production for the quarter averaged approximately 48.7 thousand barrels of oil per day, above guidance of 45.5 - 48.5 MBO/d.

The company said its production results were primarily driven by outperformance of recently turned-in-line wells on the Driftwood and Forge acquisitions and in Howard County.

Total incurred capital expenditures during third-quarter were about $162 million, excluding non-budgeted acquisitions and leasehold expenditures, below the low end of guidance of $165 million - $180 million.