Second quarter earnings will be released by Tulsa-based Vital Energy, Inc. in early August and investors are no doubt anxious to see if the firm continued with its record oil production in the Permian Basin.
The independent energy company plans to issue the second-quarter financial and operating results after the market closes on Wednesday, August 7, 2024.
Leaders will discuss the results during a conference call to be held the next day, Thursday, August 8 at 7:30 a.m. central time.
Vital reported in the first quarter that it had record production and higher-than-expected cash flows. However, it also reported a first quarter net loss of $66.1 million.
The firm’s adjusted net income was 468.1 million while ash flows from operating activities totaled $158.6 million.
During the first quarter, Vital’s total and oil production exceeded the high-end of guidance, producing 124.7 thousand barrels of oil equivalent a day while oil production was 58.5 thousand barrels a day. Its production gains were in the Permian Basin where Vital reported a 20-well package of long-lateral wells in Western Glassock County were completed ahead of schedule. One of its three horseshoe wells in Upton County was believed to have set an industry record with a total measured depth of 23,650 feet.
Drilled three horseshoe wells in Upton County, one of which is believed to have set an industry record with a total measured depth of 23,650 feet.