Vital Energy slumps after $1.17 bln acreage purchase decision

Vital Energy

13/09/2023 22:55

** Shares of Vital Energy  VTLE.N  down 6.7% at $55 after
the bell
    ** VTLE says it will add scale in the U.S. Permian Basin
through the purchase of acreage for a total of about $1.17
billion
    ** The deal will increase the company's current production
by about 35,000 barrels of oil equivalent per day (boepd)
    ** As of last close, stock up ~15% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))