2024 Q1 Form 10-K Financial Statement

#000152812924000076 Filed on March 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $482.3M $444.5M $1.548B
YoY Change 45.06% 22.08% -19.43%
Cost Of Revenue $148.6M $121.7M $412.7M
YoY Change 55.07% 31.26% -10.43%
Gross Profit $333.8M $322.9M $1.135B
YoY Change 41.01% 18.94% -22.27%
Gross Profit Margin 69.2% 72.63% 73.33%
Selling, General & Admin $29.36M $31.77M $104.8M
YoY Change 13.21% 83.81% -13.92%
% of Gross Profit 8.79% 9.84% 9.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $166.1M $152.6M $463.2M
YoY Change 91.41% 79.4% 48.65%
% of Gross Profit 49.76% 47.28% 40.82%
Operating Expenses $196.5M $186.1M $574.3M
YoY Change 72.06% 72.29% 371.6%
Operating Profit $137.4M $136.8M $560.6M
YoY Change 11.96% -16.31% -47.12%
Interest Expense $43.42M $178.7M -$53.59M
YoY Change 52.07% -588.21% -142.83%
% of Operating Profit 31.59% 130.62% -9.56%
Other Income/Expense, Net -$219.3M $6.051M $9.748M
YoY Change 2941.84% 251.39% -102.3%
Pretax Income -$81.88M $315.9M $511.7M
YoY Change -170.86% 160.51% -19.67%
Income Tax -$15.75M $34.51M -$183.3M
% Of Pretax Income 10.92% -35.83%
Net Earnings -$66.13M $281.0M $694.6M
YoY Change -158.04% 137.67% 9.99%
Net Earnings / Revenue -13.71% 63.21% 44.88%
Basic Earnings Per Share -$1.87 $34.30
Diluted Earnings Per Share -$1.87 $9.43 $33.42
COMMON SHARES
Basic Shares Outstanding 36.68M shares 24.76M shares 20.25M shares
Diluted Shares Outstanding 35.57M shares 20.78M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $423.3M $14.06M $14.06M
YoY Change 1429.24% -68.36% -68.36%
Cash & Equivalents $423.3M $14.06M $14.06M
Short-Term Investments
Other Short-Term Assets $24.40M $118.1M $118.1M
YoY Change 54.36% 786.72% 269.98%
Inventory $13.72M $13.72M
Prepaid Expenses
Receivables $290.2M $238.8M $238.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $745.9M $370.9M $370.9M
YoY Change 224.77% 50.91% 50.91%
LONG-TERM ASSETS
Property, Plant & Equipment $4.496B $4.505B $4.505B
YoY Change 78.98% 86.89% 85.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.21M $273.6M $273.6M
YoY Change -5.96% 1122.7% 485.32%
Total Long-Term Assets $4.916B $4.779B $4.779B
YoY Change 81.16% 92.66% 92.66%
TOTAL ASSETS
Total Short-Term Assets $745.9M $370.9M $370.9M
Total Long-Term Assets $4.916B $4.779B $4.779B
Total Assets $5.662B $5.150B $5.150B
YoY Change 92.37% 88.9% 88.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $150.8M $159.9M $159.9M
YoY Change 64.42% 55.97% 55.97%
Accrued Expenses $183.7M $162.6M $162.6M
YoY Change 58.81% 154.73% 27.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $609.3M $595.6M $595.6M
YoY Change 55.64% 43.42% 43.42%
LONG-TERM LIABILITIES
Long-Term Debt $2.097B $1.609B $1.609B
YoY Change 80.19% 44.6% 44.6%
Other Long-Term Liabilities $6.888M $159.3M $159.3M
YoY Change 74.25% 2091.95% 82.97%
Total Long-Term Liabilities $2.104B $1.769B $1.769B
YoY Change 80.17% 57.88% 47.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $609.3M $595.6M $595.6M
Total Long-Term Liabilities $2.104B $1.769B $1.769B
Total Liabilities $2.863B $2.364B $2.364B
YoY Change 66.66% 46.36% 46.36%
SHAREHOLDERS EQUITY
Retained Earnings -$1.015B -$948.9M
YoY Change -33.64% -42.27%
Common Stock $3.814B $3.734B
YoY Change 38.44% 35.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.799B $2.785B $2.785B
YoY Change
Total Liabilities & Shareholders Equity $5.662B $5.150B $5.150B
YoY Change 92.37% 88.9% 88.9%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$66.13M $281.0M $694.6M
YoY Change -158.04% 137.67% 9.99%
Depreciation, Depletion And Amortization $166.1M $152.6M $463.2M
YoY Change 91.41% 79.4% 48.65%
Cash From Operating Activities $158.6M $233.8M $813.0M
YoY Change 36.57% 114.62% -2.01%
INVESTING ACTIVITIES
Capital Expenditures $200.5M $165.7M $631.4M
YoY Change 19.45% 19.44% 8.65%
Acquisitions
YoY Change
Other Investing Activities $952.0K -$309.0M -$844.7M
YoY Change -77.39% -390.78% -903.08%
Cash From Investing Activities -$205.7M -$474.7M -$1.476B
YoY Change 25.71% 1361.74% 210.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $161.2M
YoY Change 332.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $456.3M -334.7M 632.8M
YoY Change 869.92% 308.43% -272.88%
NET CHANGE
Cash From Operating Activities $158.6M 233.8M 813.0M
Cash From Investing Activities -$205.7M -474.7M -1.476B
Cash From Financing Activities $456.3M -334.7M 632.8M
Net Change In Cash $409.3M -575.7M -30.37M
YoY Change -95499.53% 10355.39% 145.68%
FREE CASH FLOW
Cash From Operating Activities $158.6M $233.8M $813.0M
Capital Expenditures $200.5M $165.7M $631.4M
Free Cash Flow -$41.87M $68.04M $181.5M
YoY Change -19.0% -328.09% -26.94%

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8041000 usd
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48757000 usd
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14061000 usd
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44435000 usd
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56798000 usd
CY2023 us-gaap Nature Of Operations
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<div style="margin-bottom:3pt;margin-top:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:89.982%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#2e75b6;border-bottom:1pt solid #002060;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Note 1</span></div></td><td colspan="3" style="border-bottom:1pt solid #002060;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#002060;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:130%">Organization</span></td></tr></table></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">Vital Energy, Inc. ("Vital" or the "Company"), together with its wholly-owned subsidiaries, is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties in the Permian Basin of West Texas. The Company has identified one operating segment: exploration and production. In these notes, the "Company" refers to Vital and its subsidiaries collectively, unless the context indicates otherwise. All amounts, dollars and percentages presented in these consolidated financial statements and the related notes are rounded and, therefore, approximate.</span></div>
CY2023 us-gaap Number Of Operating Segments
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1 operating_segment
CY2023 us-gaap Use Of Estimates
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<div style="margin-bottom:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates are reasonable, actual results could differ.</span></div>Significant estimates include, but are not limited to, (i) volumes of the Company's reserves of oil, natural gas liquids ("NGL") and natural gas, (ii) future cash flows from oil and natural gas properties, (iii) impairments, (iv) fair values of assets acquired and liabilities assumed in a business combination and (v) contingent assets or liabilities. As fair value is a market-based measurement, it is determined based on the assumptions that would be used by market participants. These estimates and assumptions are based on management's best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Such estimates and assumptions are adjusted when facts and circumstances dictate. Illiquid credit markets and volatile equity and energy markets may increase the uncertainty inherent in such estimates and assumptions. Management believes its estimates and assumptions to be reasonable under the circumstances. As future events and their effects cannot be determined with precision, actual values and results could differ from these estimates. Any changes in estimates resulting from future changes in the economic environment will be reflected in the financial statements in future periods.
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16308000 usd
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13723000 usd
CY2022Q4 us-gaap Inventory Net
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6070000 usd
CY2023Q4 us-gaap Other Assets Current
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18749000 usd
CY2022Q4 us-gaap Other Assets Current
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13317000 usd
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CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18966000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
78802000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
82950000 usd
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74081000 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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AssetRetirementObligationLiabilitiesIncurred
362000 usd
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AssetRetirementObligationAccretionExpense
3703000 usd
CY2022 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3879000 usd
CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
1108000 usd
CY2022 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
2163000 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
84324000 usd
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
74081000 usd
CY2023Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
2644000 usd
CY2022Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
3715000 usd
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
81680000 usd
CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
70366000 usd
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0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
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InterestPaidCapitalized
2892000 usd
CY2022 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
3872000 usd
CY2021 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
5866000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
132986000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
131867000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
94867000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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176027000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
34532000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7742000 usd
CY2023 vtle Asset Acquisition Contingent Consideration Fair Value Disclosureasof Acquisition Date
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0 usd
CY2022 vtle Asset Acquisition Contingent Consideration Fair Value Disclosureasof Acquisition Date
AssetAcquisitionContingentConsiderationFairValueDisclosureasofAcquisitionDate
0 usd
CY2021 vtle Asset Acquisition Contingent Consideration Fair Value Disclosureasof Acquisition Date
AssetAcquisitionContingentConsiderationFairValueDisclosureasofAcquisitionDate
33832000 usd
CY2023 vtle Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
43559000 usd
CY2022 vtle Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
-2207000 usd
CY2021 vtle Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
22310000 usd
CY2023 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
807767000 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
0 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
310888000 usd
CY2023 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
86478000 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
11653000 usd
CY2023 vtle Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
7648000 usd
CY2022 vtle Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
362000 usd
CY2021 vtle Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
14610000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
71706000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
24174000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
56685000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
110442000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
97383000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
11328000 usd
CY2023 us-gaap Sublease Income
SubleaseIncome
1198000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
990000 usd
CY2023 us-gaap Lease Cost
LeaseCost
224576000 usd
CY2022 us-gaap Lease Cost
LeaseCost
144954000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
4595000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
3892000 usd
CY2023 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
65305000 usd
CY2022 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
20398000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M14D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M28D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0826
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0584
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79663000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
61157000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3905000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2788000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2153000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
10466000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
160132000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
18138000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
141994000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
0 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
1609424000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
1113023000 usd
CY2023 vtle Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
22179000 usd
CY2022 vtle Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
17026000 usd
CY2021 vtle Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
18255000 usd
CY2023 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
446611000 usd
CY2022 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
298259000 usd
CY2021 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
201691000 usd
CY2023 vtle Depletion Expense Per Physical Unitof Production
DepletionExpensePerPhysicalUnitofProduction
12.67
CY2022 vtle Depletion Expense Per Physical Unitof Production
DepletionExpensePerPhysicalUnitofProduction
9.92
CY2021 vtle Depletion Expense Per Physical Unitof Production
DepletionExpensePerPhysicalUnitofProduction
6.76
CY2023 vtle Discount Rate Full Cost Ceiling
DiscountRateFullCostCeiling
0.10
CY2023 vtle Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
UnamortizedCostsCapitalizedBeforeRelatedDeferredIncomeTaxesExceedCeilingLimitationsExpense
0 usd
CY2021 vtle Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
UnamortizedCostsCapitalizedBeforeRelatedDeferredIncomeTaxesExceedCeilingLimitationsExpense
0 usd
CY2022 vtle Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
UnamortizedCostsCapitalizedBeforeRelatedDeferredIncomeTaxesExceedCeilingLimitationsExpense
0 usd
CY2023Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
130293000 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
127803000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1633523000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1124151000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
21800000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11128000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6068000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
3769000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
631512000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
145008000 usd
CY2023Q4 vtle Unrestrictedand Unencumbered Cashand Cash Equivalents Maximum
UnrestrictedandUnencumberedCashandCashEquivalentsMaximum
50000000 usd
CY2023 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
144731000 usd
CY2022 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
123255000 usd
CY2021 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
114800000 usd
CY2023 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
7980000 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5738000 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4451000 usd
CY2023 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
2892000 usd
CY2022 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
3872000 usd
CY2021 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
5866000 usd
CY2023 us-gaap Interest Expense
InterestExpense
149819000 usd
CY2022 us-gaap Interest Expense
InterestExpense
125121000 usd
CY2021 us-gaap Interest Expense
InterestExpense
113385000 usd
CY2023 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.020
CY2023Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
54.96
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
22500000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000 shares
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
695078000 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
18300000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M23D
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14146000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10058000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16028000 usd
CY2023 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
449000 usd
CY2022 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 usd
CY2021 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
694629000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
631512000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
145008000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20254000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16672000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14240000 shares
CY2023 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
421000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20783000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16867000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14464000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
34.30
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
37.88
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
10.18
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
33.44
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
37.44
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
10.03
CY2023Q4 vtle Derivative Number Of Types Of Instruments Held
DerivativeNumberOfTypesOfInstrumentsHeld
2 derivative
CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
96230000 usd
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-298723000 usd
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-452175000 usd
CY2023Q4 us-gaap Derivative Asset Fair Value Gross Asset Including Not Subject To Master Netting Arrangement
DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement
150407000 usd
CY2023Q4 us-gaap Derivative Liability After Offset Subject To Master Netting Arrangement
DerivativeLiabilityAfterOffsetSubjectToMasterNettingArrangement
0 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
150407000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Asset Including Not Subject To Master Netting Arrangement
DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement
43073000 usd
CY2022Q4 us-gaap Derivative Liability After Offset Subject To Master Netting Arrangement
DerivativeLiabilityAfterOffsetSubjectToMasterNettingArrangement
0 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
43073000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5723000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6121000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1324000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-190341000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1281000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-619000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2321000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-183337000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5502000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3645000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
107466000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
133773000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
31217000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-297658000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-144480000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-45717000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
0 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
19301000 usd
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
13640000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
5803000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-8058000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
3274000 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1052000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
4966000 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1231000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-183337000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5502000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3645000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
264114000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
307357000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
232000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2933000 usd
CY2023Q4 vtle Deferred Tax Assets Interest Expense Limitation
DeferredTaxAssetsInterestExpenseLimitation
3908000 usd
CY2022Q4 vtle Deferred Tax Assets Interest Expense Limitation
DeferredTaxAssetsInterestExpenseLimitation
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
4117000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1110000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
272371000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
311400000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
20145000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
298184000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
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252226000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13216000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
36524000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
11105000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
25353000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
2331000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1513000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
0 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
63390000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
13436000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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188836000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
220000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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298200000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-183300000 usd
CY2023 vtle Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
5800000 usd
CY2022 vtle Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
13200000 usd
CY2021 vtle Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
4400000 usd
CY2023Q4 vtle Minimum Volume Commitments Deficiency Payments Liability
MinimumVolumeCommitmentsDeficiencyPaymentsLiability
6700000 usd
CY2022Q4 vtle Minimum Volume Commitments Deficiency Payments Liability
MinimumVolumeCommitmentsDeficiencyPaymentsLiability
11500000 usd
CY2021Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
14 senior_officer
CY2021Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.05
CY2022Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Net
CapitalizedCostsOilAndGasProducingActivitiesNet
2282737000 usd
CY2023 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
1328571000 usd
CY2022 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
8295000 usd
CY2021 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
899128000 usd
CY2023 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
401533000 usd
CY2022 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
3470000 usd
CY2021 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
198770000 usd
CY2023 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
29612000 usd
CY2022 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
26384000 usd
CY2021 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
33482000 usd
CY2023 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
633413000 usd
CY2022 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
540447000 usd
CY2021 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
410855000 usd
CY2023 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
2393129000 usd
CY2022 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
578596000 usd
CY2021 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
1542235000 usd
CY2023Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
11799155000 usd
CY2022Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
9554706000 usd
CY2023Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
195457000 usd
CY2022Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
46430000 usd
CY2023Q4 us-gaap Capitalized Costs Oil And Gas Producing Activities Gross
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