Vital makes share transfers to complete Permian Basin acquisitions


Vital Energy wrapped up another of its three acquisitions totaling $1.165 billion in the Permian Basin.

The acquisitions were announced in September and one involved Henry Resources LLC. This week, Vital filed a report with the Securities and Exchange Commission, reflecting it had issued 2,145,725 shares of Common Stock and 6,131,381 shares of the company’s 2% convertible preferred stock to complete the acquisition.

A day later, the Tulsa company issued 628,968 shares of common stock constituting a portion of the purchase price in the Tall City acquisition. Vital also put 773,290 shares in escrow as part of the terms of the Tall City agreement.

Vital expects to totally complete all three acquisitions in the fourth quarter of this year.