Independent energy company, Vital Energy, Inc. plans a release of its second-quarter earnings report early in August.
The results will first be released for the Tulsla-based company on Wednesday, August 6, following the close of markets. Company leaders plan a conference call to discuss the results the next morning.
The call will begin at 7:30 a.m. central time and a webcast of the call will be available on Vital’s website at www.vitalenergy.com “Investor Relations | News & Presentations | Upcoming Events.”
Vital Energy, with a focus on the acquistion, exploration and development of oil and gas properties in the Permian Basin of West Texas, recorded a first quarter net loss of $18.8 million, or $(0.50) per diluted share. Its adjusted net income was $89.5 million and cash flow from operating activities totaled $351 million.
When the results were announced in early May, Jason Pigott, President and Chief Executive Officer emphasized the company remained focused on increase efficiency gains and lower costs.
“Our hedge position for the remainder of the year has reduced our near-term price risks and today we have about 90% of our expected oil production swapped at around $71 per barrel WTI,” continued Pigott.
