Vital Energy, Inc. completed the acquisition of Oil and Gas properties in the Midland and Delaware Basin from Henry Resources LLC, Henry Energy LP and Moriah Henry Partners LLC approximately $430 million.
November 04, 2023
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Vital Energy, Inc. (NYSE:VTLE) entered into an agreement to acquire Oil and Gas properties in the Midland and Delaware Basin from Henry Resources LLC, Henry Energy LP and Moriah Henry Partners LLC for $520 million on September 13, 2023. As part of consideration, Vital Energy will issue approximately 3.72 million shares of the Company?s common stock and approximately 4.98 million shares of the Company?s 2% Cumulative Mandatorily Convertible Series A Preferred Stock. The transaction is subject to regulatory approvals, approval by Vital Energy shareholders, antitrust regulatory approval and listing of common stock constituting the stock consideration. The transaction is expected to close in forth quarter of 2023.
Joe F. Flack of Jackson Walker LLP acted as legal advisor to Henry Energy LP, Henry Resources LLC, Moriah Henry Partners LLC. Stephen Szalkowski and John M. Greer of Latham & Watkins acted as legal advisors to Vital Energy. Equiniti Trust Company acted as transfer agent to Vital Energy. Mizuho and Truist Securities are serving as co-advisors financial advisor to Vital Energy, Inc. on Henry and Maple transactions. Akin Gump is also serving as legal advisor. Houlihan Lokey Capital, Inc. acted as financial advisor to Vital Energy, Inc. (NYSE:VTLE).
Vital Energy, Inc. (NYSE:VTLE) completed the acquisition of Oil and Gas properties in the Midland and Delaware Basin from Henry Resources LLC, Henry Energy LP and Moriah Henry Partners LLC approximately $430 million on November 5, 2023. On November 5, 2023, Vital Energy issued 2,145,725 shares of Common Stock and 6,131,381 shares of the Vital Energy?s 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock.
Vital Energy, Inc. is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties in the Permian Basin of West Texas. The Company operates through a single segment, exploration and production. It has assembled 265,306 largely contiguous net acres in the Permian Basin, most of which is prospective for multi-zone development in Glasscock, Howard, Midland, Reagan, and Upton counties in the Midland Basin and Pecos, Reeves, and Ward counties in the Delaware Basin. The Company has purchased certain oil and gas properties in the Delaware Basin, including approximately 21,450 net acres located in Reeves County, 15,500 net acres located in Reeves County, and 24,000 net acres in Pecos, Reeves and Ward Counties. It has also purchased certain oil and natural gas properties in the Midland Basin, including approximately 11,200 net acres located in Upton and Reagan Counties.
Vital Energy, Inc. completed the acquisition of Oil and Gas properties in the Midland and Delaware Basin from Henry Resources LLC, Henry Energy LP and Moriah Henry Partners LLC approximately $430 million.
VITAL ENERGY, INC. 
