Vital Energy, Inc. announced the pricing of its previously announced private placement offering (the Offering), upsized to $800.0 million in aggregate principal amount, of 7.875% senior notes due 2032 at 100% of par (the senior notes) in a private placement to eligible purchasers. The Offering is expected to close on March 28, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds of the offering, if completed, together with existing corporate liquidity, to (a) purchase for cash of up to (i) $475.0 million aggregate principal amount of 10.125% senior notes due 2028 and (ii) $75.0 million aggregate principal amount of 9.750% senior notes due 2030 in the cash tender offers the Company commenced pursuant to an offer to purchase dated March 14, 2024, (b) pay fees and expenses incurred therewith, to (c) repay borrowings outstanding under senior secured credit facility and/or (d) to fund other debt repurchases.

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.