Vital Energy Prices Upsized Offering of $200.0 Million of Senior Notes
01 Abril 2024 - 3:26PM
Vital Energy, Inc., a Delaware corporation (NYSE: VTLE) (“Vital
Energy” or the “Company”), today announced the pricing of its
previously announced private placement offering (the “Offering”),
upsized to $200.0 million in aggregate principal amount, of 7.875%
senior notes due 2032 (the “senior notes”) at 100.75% of par, plus
accrued and unpaid interest from March 28, 2024, in a private
placement to eligible purchasers. The Offering is expected to close
on or about April 3, 2024, subject to the satisfaction of customary
closing conditions. The Company intends to use the net proceeds
from this offering, if completed, to repay or repurchase
indebtedness, including in connection with the funding of the
purchase for cash our 10.125% senior notes due 2028 and certain of
our 9.750% senior notes due 2030 in the cash tender offers (the
“Tender Offers”) the Company commenced pursuant to an offer to
purchase dated March 14, 2024, as amended, or for general corporate
purposes.
The senior notes will be senior unsecured obligations of the
Company and will be guaranteed on a senior unsecured basis by Vital
Midstream Services, LLC, a subsidiary of the Company, and certain
of its future subsidiaries. The senior notes are being offered as
additional notes under the indenture dated as of March 28, 2024
(the “Indenture”), pursuant to which the Company has previously
issued $800.0 million aggregate principal amount of 7.875% senior
notes due 2032 (the “existing notes”). The senior notes have
substantially identical terms, other than the issue date and issue
price, as the existing notes, and the senior notes and the existing
notes will be treated as a single class of securities under the
Indenture and will vote together as a single class.
The senior notes have not been registered under the Securities
Act of 1933, as amended (the “Securities Act”), or any state
securities laws, and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act and applicable
state securities laws. The senior notes were offered and sold only
to persons reasonably believed to be qualified institutional buyers
pursuant to Rule 144A under the Securities Act and to non-U.S.
persons outside the United States pursuant to Regulation S under
the Securities Act.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the senior notes, nor shall it
constitute an offer, solicitation or sale in any jurisdiction in
which, or to any person to whom, such an offer, solicitation or
sale is unlawful. Additionally, this press release shall not
constitute an offer to purchase or a solicitation of an offer to
purchase or sell the notes subject to the Tender Offers, and such
Tender Offers are being made solely pursuant to the offer to
purchase.
About Vital EnergyVital Energy, Inc. is an
independent energy company with headquarters in Tulsa, Oklahoma.
Vital Energy’s business strategy is focused on the acquisition,
exploration and development of oil and natural gas properties in
the Permian Basin of West Texas.
Forward-Looking StatementsThis press release
contains forward-looking statements as defined under Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, that address activities that
Vital Energy assumes, plans, expects, believes, intends, projects,
indicates, enables, transforms, estimates or anticipates (and other
similar expressions) will, should or may occur in the future are
forward-looking statements. The forward-looking statements are
based on management’s current belief, based on currently available
information, as to the outcome and timing of future events. Such
statements are not guarantees of future performance and involve
risks, assumptions and uncertainties. General risks relating to
Vital Energy include, but are not limited to, continuing and
worsening inflationary pressures and associated changes in monetary
policy that may cause costs to rise; changes in domestic and global
production, supply and demand for commodities, including as a
result of actions by the Organization of Petroleum Exporting
Countries and other producing countries (“OPEC+”) and the
Russian-Ukrainian or Israeli-Hamas military conflicts, the decline
in prices of oil, natural gas liquids and natural gas and the
related impact to financial statements as a result of asset
impairments and revisions to reserve estimates, reduced demand due
to shifting market perception towards the oil and gas industry;
competition in the oil and gas industry; the ability of the Company
to execute its strategies, including its ability to successfully
identify and consummate strategic acquisitions at purchase prices
that are accretive to its financial results and to successfully
integrate acquired businesses, assets and properties, pipeline
transportation and storage constraints in the Permian Basin, the
effects and duration of the outbreak of disease, and any related
government policies and actions, long-term performance of wells,
drilling and operating risks, the possibility of production
curtailment, the impact of new laws and regulations, including
those regarding the use of hydraulic fracturing, and under the
Inflation Reduction Act (the “IRA”), including those related to
climate change, the impact of legislation or regulatory initiatives
intended to address induced seismicity on our ability to conduct
our operations; uncertainties in estimating reserves and production
results; hedging activities, tariffs on steel, the impacts of
severe weather, including the freezing of wells and pipelines in
the Permian Basin due to cold weather, possible impacts of
litigation and regulations, the impact of the Company’s
transactions, if any, with its securities from time to time, the
impact of new environmental, health and safety requirements
applicable to the Company’s business activities, the possibility of
the elimination of federal income tax deductions for oil and gas
exploration and development and imposition of any additional taxes
under the IRA or otherwise, and other factors, including those and
other risks described in its Annual Report on Form 10-K for the
year ended December 31, 2023 and those set forth from time to time
in other filings with the Securities and Exchange Commission
(“SEC”). These documents are available through Vital Energy’s
website at www.vitalenergy.com under the tab “Investor Relations”
or through the SEC’s Electronic Data Gathering and Analysis
Retrieval System at www.sec.gov. Any of these factors could cause
Vital Energy’s actual results and plans to differ materially from
those in the forward-looking statements. Therefore, Vital Energy
can give no assurance that its future results will be as estimated.
Any forward-looking statement speaks only as of the date on which
such statement is made. Vital Energy does not intend to, and
disclaims any obligation to, correct, update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
Investor Contact:Ron
Hagood918.858.5504ir@vitalenergy.com
Vital Energy (NYSE:VTLE)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
Vital Energy (NYSE:VTLE)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024