Earnings Highlights SM & VTLE 2/19/2025

2/19/25

Vital Energy (VTLE)
Vital Energy achieved record production for both oil and natural gas in Q4 2024.  The company successfully integrated the Point Energy assets and the acquired production is currently exceeding expectations.  Vital Energy’s oil-weighted inventory now includes 925 locations, 400 of which have a breakeven cost that’s below $50 per barrel WTI.  
Production expectations for 2025 are about 3% lower than earlier projections for the year. The shortfall is related to operational delays and the underperformance of a seven-well development package in Upton County.  The company’s 2025 production is expected to be flat YOY after adjusting for the acquisition of the Point Energy assets.


SM Energy (SM)
SM Energy achieved record oil and natural gas production in 2024.  The company expects substantial production growth in 2025 with the addition of the Uinta Basin program.  The company plans to utilize 8.5 rigs and 3 completion crews.  3 rigs to be utilized in Uinta, 4 in Midland, and 1.5 in South Texas. 1 completion crew is expected to be implemented in Uinta, 1 in Midland, and 1 in South Texas.