Headquartered in Tulsa, Vital develops oil and natural gas properties in the Permian Basin. (Source: Shutterstock)
Vital Energy Inc., formerly known as Laredo Petroleum, announced the completion of its rebranding in a press release Jan. 8.
Vital is now trading on the NYSE under the ticker “VTLE” as of Jan. 9.
“The name ‘Vital Energy’ speaks to our purpose of energizing human potential,” president and CEO Jason Pigott said on Vital’s website.
The company’s 2022 ESG and Climate Risk Report published on Dec. 1 detailed the company’s long-term sustainability targets. The rebrand is “consistent with its goal to ensure everyone has access to the reliable, affordable energy resources needed to power their lives,” the Dec. 1 press release said.
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Laredo First to Permian RSOG Title, Name Change to 'Vital Energy'
Vital also updated its fourth quarter 2022 production and incurred capital expenditures. Oil production is expected to be 35,500 bbl/d and total production is expected to be approximately 77,500 boe/d. Incurred capital expenditures are expected to be within $135 million-$145 million.
A full report of fourth-quarter and full-year 2022 financial and operating results will be reported after market close Feb. 21, the company stated.
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