Vital Energy gains on upbeat Q2 profit, higher annual production forecast

Vital Energy (Canada)

09/08/2023 17:35

** Shares of U.S. oil and gas producer Vital Energy  VTLE.N 
rise 3.1% to $56.29  
    ** Co reports Q2 adj. earnings of $4.35/shr vs avg.
analysts' estimate of $3.96/shr - Refinitiv 
    ** VTLE also raises 2023 production outlook to the range of
87,000 barrels of oil equivalents per day (boepd) to 89,000
boepd compared with its earlier forecast of between 82,000 boepd
and 86,000 boepd 
    ** It also lowers its capital expenditure forecast to the
range of $665 mln - $695 mln vs previous forecast of between
$675 mln - $725 mln
    ** Co has also closed the acquisition of assets in the
Permian basin 
    ** Including session's gain, stock up 9.5% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))