Vital Energy raises FY23 total production view to 82-86 MBOE/d from 76-80 MBOE/d

Raises FY23 oil production view to 40-43 from 36.3-39.3 MBO/d. Throughout 2023, Vital Energy has outperformed production expectations as process improvements and the implementation of digital solutions has improved the initial productivity of new wells and enhanced base production. Excluding production acquired with the Driftwood and Forge acquisitions, the company has increased its original full-year 2023 oil production expectation of 34.0 – 37.0 MBO/d by approximately 5% with no increase in capital investment guidance. Vital Energy plans to operate one drilling rig and turn-in-line approximately five wells on the acquired Forge acreage during the second half of 2023, investing approximately $50M. Pro forma for the acquisition, the company expects full-year 2023 capital investments of $675M-$725M, up from prior view of $625M-$675M.