25 Oct 2021securities registration● Neutral
Vital Energy, Inc. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Oct 2021quarterly activities report● Neutral
Vital Energy, Inc. reported quarterly revenue of $379.3 million and net income of $136.8 million for the period ended 2021-09-30.
18 Oct 2021asset acquisition disposition● NeutralMajor
On 2021-10-18 Laredo completed the Pioneer acquisition announced in September, issuing 959,691 shares to Pioneer as part of the price. Registration rights and voting and support agreements with Pioneer were signed at closing. Financial statements and pro forma information for the acquired assets are to be filed later by amendment.
20 Sept 2021capital raising announcement● NeutralMajor
On 2021-09-17 Laredo agreed to buy about 20,000 net acres in western Glasscock County, Texas, from Pioneer Natural Resources and affiliates for $160.0 million cash plus 959,691 new shares (about $230 million in total per the press release), effective 2021-07-01. A $20.5 million deposit has been paid; the cash is to come from cash on hand and credit facility borrowings, and closing is expected around 2021-10-18. Pioneer will get registration rights and agree to vote its shares as the board recommends.
8 Sept 2021director interest notice● Neutral
Vital Energy, Inc. Int. Principal Acctg Officer Jessica R Wren received 1,345 shares as part of the equity award.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director Craig Jarchow received a stock option grant for 518 shares.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director Frances Powell Hawes received a stock option grant for 518 shares.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director Pamela S Pierce acquired 518 shares at $48.25 under a company stock plan.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director Lisa Marie Lambert acquired 518 shares at $48.25 under a company stock plan.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. President & CEO M. Jason Pigott sold 5,000 shares at $48.12.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director William E Albrecht received a stock option grant for 518 shares.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director Jarvis V. Hollingsworth acquired 518 shares at $48.25 under a company stock plan.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director Edmund P Segner III received a stock option grant for 518 shares.
11 Aug 2021director interest notice● Neutral
Vital Energy, Inc. director Lori A Lancaster received a stock option grant for 518 shares.
10 Aug 2021director interest notice● Neutral
Vital Energy, Inc. Sr VP & CFO Bryan Lemmerman sold 10,426 shares.
10 Aug 2021director interest notice● Neutral
Vital Energy, Inc. Sr. V.P. & COO Tommye Karen Chandler sold 15,042 shares at $48.50.
10 Aug 2021director interest notice● Neutral
Vital Energy, Inc. SVP, Gen. Counsel & Secretary Mark David Denny sold 6,125 shares at $45.65.
5 Aug 2021quarterly activities report● Neutral
Vital Energy, Inc. reported quarterly revenue of $379.3 million and net income of $136.8 million for the period ended 2021-09-30.
4 Aug 2021quarterly activities report● Neutral
Vital Energy, Inc. reported quarterly revenue of $379.3 million and net income of $136.8 million for the period ended 2021-09-30.
21 July 2021quarterly activities report▼ Bad
Vital Energy, Inc. reported quarterly revenue of $294.4 million and a net loss of $132.7 million for the period ended 2021-06-30.
16 July 2021debt financing● NeutralMajor
On 2021-07-16 Laredo sold $400 million of 7.75% senior unsecured notes due 2029, raising about $392.0 million net, intended for general corporate purposes including repaying part of the borrowings on its credit facility. The same day it amended the credit facility (Seventh Amendment), extending maturity two years to July 2025 (springing to 2024-07-29 if any of the 9.5% 2025 notes remain outstanding), raising margins and some fees, and lowering the leverage ratio limit from the quarter ending 2021-09-30. This follows the July acquisition closing, in which the credit facility had been drawn.
9 July 2021securities registration● Neutral
Vital Energy, Inc. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
8 July 2021director interest notice● Neutral
Encap Energy Capital Fund Ix, L.P. became a Vital Energy, Inc. 10%+ owner and company insider (initial ownership filing).
8 July 2021quarterly activities report▼ Bad
Vital Energy, Inc. reported quarterly revenue of $294.4 million and a net loss of $132.7 million for the period ended 2021-06-30.
8 July 2021substantial holder notice● Neutral
ENCAP ENERGY CAPITAL FUND IX, L.P, ENCAP PARTNERS GP, LLC disclosed a new substantial Vital Energy, Inc. shareholding (13.61% of votes).
6 July 2021director interest notice● Neutral
Vital Energy, Inc. Sr VP & CFO Bryan Lemmerman had 8,309 shares withheld for taxes on vesting stock.
2 July 2021asset acquisition disposition● NeutralMajor
On 2021-07-01 Laredo closed both deals announced in May: the Sabalo Energy acquisition and the sale of a share of its producing wells to a Sixth Street affiliate. For Sabalo it paid $606 million in cash (after price adjustments) plus 2,507,000 (2,506,964) new shares, and it received $405 million cash from Sixth Street plus possible earn-out payments over six years. The release says 16.1 million shares are now outstanding, 714,526 shares were sold through the ATM program at an average $65.70 for $45.8 million net, the credit facility borrowing base stays at $725 million, and $380 million is drawn with total liquidity of $355 million.
7 June 2021director interest notice● Neutral
Vital Energy, Inc. President & CEO M. Jason Pigott had 6,766 shares withheld for taxes on vesting stock.
3 June 2021director interest notice● Neutral
Vital Energy, Inc. director Lisa Marie Lambert acquired 503 shares at $65.28 under a company stock plan.
3 June 2021director interest notice● Neutral
Vital Energy, Inc. director Frances Powell Hawes received a stock option grant for 503 shares.