The company said, “The Company’s 2024 development plan is designed to maximize Adjusted Free Cash Flow, enhance capital efficiency and organically add high-return locations. Vital Energy plans to invest $750 – $850 million in 2024, excluding non-budgeted acquisitions and leasehold expenditures, operating four drilling rigs throughout the year and averaging 1.7 completions crews. Capital investments are expected to peak in the first quarter due to higher working interest on wells being TIL’d during the quarter. The Company expects total production of 116.5 – 121.5 MBOE/d and oil production of 55.0 – 59.0 MBO/d for full-year 2024.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VTLE:
- Vital Energy Reports Fourth-Quarter and Full-Year 2023 Financial and Operating Results
- VTLE Earnings this Week: How Will it Perform?
- Vital Energy files to sell 1.86M shares of common stock for holders
- Vital Energy price target raised to $86 from $81 at Truist
- Vital Energy Closes Second Transaction to Acquire Additional Working Interests Related to Recent Permian Basin Acquisition