Vital Energy, Inc. (NYSE:VTLE) Q2 2024 Results Earnings Conference Call August 8, 2024 8:30 AM ET
Company Participants
Ron Hagood - Vice President, Investor Relations
Jason Pigott - President and Chief Executive Officer
Katie Hill - Senior Vice President and Chief Operating Officer
Conference Call Participants
Neal Dingmann - Truist Securities
Zach Parham - J.P. Morgan
Paul Diamond - Citigroup
Noah Hungness - Bank of America
John Abbott - Wolfe Research
Operator
Good day, ladies and gentlemen, and welcome to Vital Energy, Inc. Second Quarter 2024 Earnings Conference Call. My name is Dee and I will be your conference operator for today. At this time, all participants are in a listen-only mode. We will be conducting a question-and-answer session after the financial and operations report. As a reminder, this conference is being recorded for replay purposes.
It is now my pleasure to introduce to you Mr. Ron Hagood, Vice President, Investor Relations. You may proceed, sir.
Ron Hagood
Thank you. And good morning. Joining me today are Jason Pigott, President and Chief Executive Officer; Bryan Lemmerman, Executive Vice President and Chief Financial Officer; Katie Hill, Senior Vice President and Chief Operating Officer; as well as additional members of our management team.
During today's call, we will be making forward-looking statements. These statements, including those describing our beliefs, goals, expectations, forecasts and assumptions are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Our actual results may differ from these forward-looking statements for a variety of reasons, many of which are beyond our control.
In addition, we'll be making reference to non-GAAP financial measures. Reconciliations to GAAP financial measures are included in the press release and presentation we issued yesterday afternoon. The press release and presentation can be accessed on our website at www.vitalenergy.com.
I'll now turn the call over to Jason Pigott, President and Chief Executive Officer.
Jason Pigott
Good morning. And thank you for joining us today. Vital Energy remains focused on maximizing free cash flow by integrating our recent acquisitions, adding low break-even inventory and maintaining a strong capital structure.
Our team continued the trend of strong production results during the second quarter, with total and oil production set company records as packages turned in line during the quarter and both the Midland and Delaware Basins are exceeding expectations. Strong production helped drive free cash flow of $45 million for the quarter, which we used to reduce debt.