Tulsa-based Vital Energy said last week in its announcement of preliminary third quarter operating results that it produced crude oil above guidance. Vital said total production in 3Q averaged 101,300 boed – above guidance of 94,000-to-98,000 boed – and 48,700 b/d of crude oil – above guidance of 45,500-to-48,500 b/d. Production results primarily were driven by outperformance of recently turned-in-line wells on Driftwood and Forge acquisitions and in Howard County.
Vital said Oct. 11 that total capital expenditures in 3Q were about $162 million – below low end of guidance of $165 million-to-$180 million. Vital Energy increased its Permian Basin position in September in three deals with private companies for about $1.16 billion. Vital is an independent energy company focused on acquisition, exploration and development of oil and natural gas properties in Permian Basin.