 | |
| Company type | Public company |
|---|---|
| NYSE: VTLE S&P 600 component Russell 2000 Index component | |
| Industry | Petroleum industry |
| Founded | 2006 |
| Founder | Randy A. Foutch |
| Headquarters | Tulsa, Oklahoma, U.S. |
Key people | Jason Pigott, President & CEO |
| Products | Natural gas Petroleum |
Production output | 87 thousand barrels of oil equivalent (530,000 GJ) per day (2020) |
| Revenue |  $677 million (2020) |
| -$874 million (2020) | |
| Total assets | $1.442 billion (2020) |
| Total equity | -$21 million (2020) |
| Owner | Warburg Pincus (21.6%) |
Number of employees | 257 (2020) |
| Website | vitalenergy |
| Footnotes / references [1] | |
Vital Energy, Inc. (formerly Laredo Petroleum, Inc.) is an American company engaged in hydrocarbon exploration incorporated in Delaware with its principal operational headquarters located in Tulsa, Oklahoma.
Laredo Petroleum has no connection or association with Laredo Oil, a penny stock E&P traded on the pink sheet over-the-counter market.
As of December 31, 2020, the company had 278 million barrels of oil equivalent (1.70×109 GJ) of estimated proved reserves, of which 24% was petroleum, 36% was natural-gas condensates and 39% was natural gas. All of these reserves were in the Permian Basin, where the company controlled 133,199 net acres.[1]
The company drills almost all of its wells using what it calls the "earth model", which it claims increases efficiency.[2]