Vital Energy Inc., Tulsa, Okla., produced an average 113,400 boe/d in fourth-quarter 2023, above guidance of 101,800-105,800 boe/d. Oil production for the quarter averaged about 52,800 boe/d, above guidance of 47,900-50,900 b/d.
The company released preliminary quarterly results Jan. 9.
Production results were primarily driven by outperformance of recently turned-in-line wells in Howard and Upton counties in Texas, the company said, and earlier-than-expected closing dates for previously announced transactions and the acquisition of additional working interests during the quarter contributed about 1,250 boe/d (60% oil) to quarterly production (OGJ Online, Oct. 2, 2023; May 12, 2023).
Total incurred capital expenditures during fourth-quarter 2023 were about $190 million, excluding non-budgeted acquisitions and leasehold expenditures, in-line with guidance of $175-190 million.
Vital Energy plans to report complete fourth-quarter and full-year 2023 financial and operating results after market close on Feb. 21, 2024.
