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.”
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