NYSE$VTLE
Vital Energy Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Announced fourth-quarter and full-year 2020 financial and operating results and provided 2021 capital budget and production expectations.
Laredo Petroleum reported a net loss attributable to common stockholders of $165.9 million for Q4 2020, which included a non-cash full cost ceiling impairment charge of $109.8 million. Adjusted Net Income was $37.8 million, and Adjusted EBITDA was $120.0 million. The company's total production averaged 82,552 BOE per day, including oil production of 21,929 BOPD.
- Completed 15 wells in Howard County during the quarter.
- Accelerated completions activities on the second well package ahead of schedule.
- First wells in Howard County are expected to reach peak rates during the first quarter of 2021.
- Drilling and completions operations have resumed and production is returning to pre-storm levels after winter storms impacted Permian Basin operations.
Headline financials
Revenue & EPS history
Vital Energy · Revenue · Quarterly
$188M
Revenue by segment
Vital Energy · $134M total across 3 segments · Q4 2020
- Oil Sales$84.5M-53.0%63.1%
- NGL Sales$28.5M—21.3%
- Natural Gas Sales$20.9M—15.6%
Forward guidance
Laredo expects to invest $360 million in 2021 and anticipates significant improvement in overall capital efficiency with a full year of operations directed to Howard County. Oil production for full-year 2021 is expected to average 27,250 - 29,250 BOPD. Total production is expected to decline to an average of 80,000 - 85,000 BOE per day.
Tailwinds
- Capital program focused on Howard County development.
- Maximizing capital efficiency by consistently running one completions crew.
- Continued improvements in drilled and completed feet per day.
- Company-owned sand mine driving additional productivity gains.
- Robust hedging program supporting the 2021 capital plan.
Headwinds
- Weather impact reducing first-quarter and full-year 2021 production.
- Increased unit LOE expected in 2021.
- Total G&A expected to remain flat on a total dollar basis but increase slightly on a unit basis.
- Potential for higher operating expenses due to ESPs for artificial lift in Howard County.
- Delay in completing 12 wells in Howard County due to weather delays.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports
-0.7%
Avg return
Earnings day
-1.7%
Avg return
5 days after
+0.8%
Avg return
30 days after
46%
26 / 56 earnings
Positive
+12.7%
Q3 2024
Best reaction
-23.2%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q3 2025 | +5.1% | +20.9% | +26.1% | |
| Q2 2025 | -9.4% | -8.8% | -0.4% | |
| Q1 2025 | +7.6% | -3.5% | +18.7% | |
| Q4 2024 | -12.1% | -20.2% | -36.6% | |
| Q3 2024 | +12.7% | +14.7% | +8.3% | |
| Q2 2024 | +2.8% | +2.3% | -22.8% | |
| Q1 2024 | -4.1% | -10.1% | -17.0% | |
| Q4 2023 | +5.0% | +3.9% | +9.5% | |
| Q3 2023 | +6.3% | -3.4% | -8.8% | |
| Q2 2023 | +5.2% | +5.4% | +11.6% | |
| Q1 2023 | -0.9% | -3.3% | +5.4% | |
| Q4 2022 | -3.2% | +6.5% | -16.9% | |
| Q3 2022 | +5.2% | +6.1% | -3.2% | |
| Q2 2022 | -23.2% | -26.0% | -15.2% | |
| Q1 2022 | -6.9% | -19.1% | +45.2% | |
| Q4 2021 | +7.1% | +7.5% | +8.6% | |
| Q3 2021 | -4.5% | — | — | |
| Q2 2021 | -12.7% | — | — | |
| Q1 2021 | -12.4% | — | — | |
| Q4 2020 | +5.3% | — | — | |
| Q3 2020 | +3.7% | — | — | |
| Q2 2020 | -1.2% | — | — | |
| Q1 2020 | -2.0% | — | — | |
| Q4 2019 | -0.6% | — | — | |
| Q3 2019 | -1.2% | — | — | |
| Q2 2019 | +3.9% | — | — | |
| Q1 2019 | +10.6% | — | — | |
| Q4 2018 | +6.1% | — | — | |
| Q3 2018 | +7.6% | — | — | |
| Q2 2018 | -6.8% | — | — | |
| Q1 2018 | -17.8% | — | — | |
| Q4 2017 | +10.0% | — | — | |
| Q3 2017 | -10.3% | — | — | |
| Q2 2017 | -1.1% | — | — | |
| Q1 2017 | -6.7% | — | — | |
| Q4 2016 | +1.0% | — | — | |
| Q3 2016 | +9.4% | — | — | |
| Q2 2016 | +11.8% | — | — | |
| Q1 2016 | +7.7% | — | — | |
| Q4 2015 | -6.1% | — | — | |
| Q3 2015 | -5.2% | — | — | |
| Q2 2015 | +2.8% | — | — | |
| Q1 2015 | -6.7% | — | — | |
| Q4 2014 | -8.5% | — | — | |
| Q3 2014 | +4.7% | — | — | |
| Q2 2014 | -6.8% | — | — | |
| Q1 2014 | -3.7% | — | — | |
| Q4 2013 | -4.9% | — | — | |
| Q3 2013 | -11.8% | — | — | |
| Q2 2013 | +6.7% | — | — | |
| Q1 2013 | -4.0% | — | — | |
| Q4 2012 | +7.0% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q1 2012 | +2.2% | — | — |
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