Vital Energy announces $127.6M Midland Basin acquisition

Vital Energy "announced the signing of a definitive purchase and sale agreement to acquire the assets of Driftwood Energy Operating, LLC, inclusive of all leasehold interests and hedges, in exchange for 1,578,948 shares of Vital common stock and $127.6 million of cash. The transaction is expected to close early April 2023 with an effective date of January 1, 2023, subject to customary closing conditions."