Tulsa-based Vital Energy recently upgraded its portfolio with a total of 119 long-lateral horseshoe locations in Permian Basin. That follows the successful execution of its first three horseshoe wells in Upton County in Midland Basin. Jason Pigott, president and CEO, said Aug. 7, “In addition to achieving record quarterly production, we are organically adding low-breakeven inventory locations across our leasehold as we successfully implement the technology to drill long-lateral horseshoe wells.”
Vital added 77 new long-lateral horseshoe locations on its existing acreage position with breakeven of $57 per barrel WTI and converted 84 short-lateral locations to 42 long-lateral horseshoe locations – 30 of which breakeven below $50 per barrel WTI.
Vital increased fullyear 2024 total production guidance to 127,000 to 131,000 boed (from 116,500 to 121,500 boed) after reporting 2Q production of 129,400 boed (59,200 barrels of crude oil).

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