Developer docs
API playgroundTry for free, no card

Search company profiles

Vital Energy

Full company profile

uuid0000rid

Namestring
Vital Energy
Legal namestring
Vital Energy, Inc.
Websiteurl
vitalenergy.com
Company typeenum
Public
Founded yearint
2009
Descriptiontext

Vital Energy, Inc. (formerly NYSE: VTLE) was an independent upstream oil and gas exploration and production company headquartered in Tulsa, Oklahoma, with a corporate office footprint extending to Houston, Texas. The company was founded in 2009 and operated a single core business line focused on the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the Permian Basin of West Texas and, following its 2024 Point Energy Partners acquisition, the Delaware Basin. Vital Energy sold its production into commodity markets at prevailing WTI and Henry Hub prices to refineries, midstream processors, and trading counterparties, generating transaction-based revenue on physical volume. The company pursued a disciplined, capital-intensive acquisition strategy to grow its development inventory and operational scale, deploying both debt (expanded credit facilities) and equity (public stock offerings) to fund deals.

The company's go-to-market was enterprise-field-sales oriented, targeting asset acquisitions and operator relationships rather than retail customers. Vital Energy's value proposition centered on high-quality development inventory in tier-one shale basins, with its 2024 Point Energy Partners transaction (~80% stake acquired for ~$820M of a ~$1.025B total) bringing specialized Delaware Basin expertise from Vortus Investments' portfolio. In August 2025, Crescent Energy announced an all-stock acquisition of Vital Energy valued at approximately $3.1 billion; the transaction closed on December 15, 2025, after which Vital Energy ceased to operate as an independent publicly traded company and became a wholly-owned subsidiary of Crescent Energy Company.

Short descriptiontext

Vital Energy was an independent upstream oil and gas exploration and production company operating in the Permian and Delaware basins of West Texas, selling crude oil, natural gas, and NGLs at commodity-market prices before being acquired by Crescent Energy in December 2025.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersTulsa, United States
HQ citystring
Tulsa
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
oil and gas exploration, upstream production, crude oil production, natural gas production, Permian Basin operations
Industry3 codes
1Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance)
CodeEUAAAAAKPrimaryYes
2Onshore Natural Gas E&P (Conventional Fields)
CodeEUAAAAAGPrimaryNo
3Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing)
CodeEUALABAFPrimaryNo
NAICS code3 codes
  • Oil and Gas Extraction2111
  • Crude Petroleum Extraction21112
  • Natural Gas Extraction21113
SIC code1 code
  • Crude Petroleum & Natural Gas1311
Product category
Upstream Oil and Gas Exploration & Production
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model2 records
1Oil and Gas Production Revenue
TypeTransaction Fee
Description

Revenue generated from the sale of crude oil, natural gas, and natural gas liquids produced from operated properties in the Permian Basin and Delaware Basin

globenewswire.com
2Public Stock Offerings
TypeOne Time License
Description

Capital raised through public offerings of common stock to fund acquisitions and debt repayment

globenewswire.com
Marketing channels1 record

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components4 values
Operations, Supply Chain, Personnel, Infrastructure
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Vital Energy is an independent oil and gas exploration and production company focused on acquiring, developing, and operating oil and natural gas properties, primarily in the Permian Basin of West Texas with additional assets in the Delaware Basin acquired through the Point Energy Partners transaction. The company generates revenue from the sale of crude oil, natural gas, and natural gas liquids produced from its operated properties.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 2 values shown
  • Acquisition expected to be immediately accretive to financial performance
+1 more record
Product overview1 text field

Vital Energy is an independent oil and gas exploration and production company operating a single core product line focused on oil and natural gas exploration, development, and operations. The company operates primarily in the Permian Basin of West Texas, with additional assets in the Delaware Basin acquired through the Point Energy Partners transaction in 2024.

Product and service1 record
1Oil and Natural Gas Exploration and Production
CategoryCore Product - Upstream Oil and Gas
Scale indicator6 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-08-25
Description

Crescent Energy acquired Vital Energy in a transformative $3.1 billion all-stock merger, creating a top-10 independent energy company. The transaction closed on December 15, 2025, with Crescent shareholders owning approximately 77% and Vital shareholders approximately 23% of the combined company.

Strategic tierMajorTypeStrategic or Co-development PartnerAnnounced on2024-07-29
Description

Northern Oil and Gas co-acquired Point Energy Partners' Delaware Basin assets alongside Vital Energy, with Northern acquiring a 20% stake for approximately $220 million while Vital Energy acquired the remaining 80% stake for about $820 million.

Recent move8 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
TypeBroad incumbent
Description

Crescent Energy is the acquirer of Vital Energy and operates a larger upstream oil and gas portfolio across the Eagle Ford, Permian, and Uinta basins. As the parent company post-merger, it shares the same core upstream E&P business model and Permian Basin exposure as Vital Energy.

TypeDirect peer
Description

Northern Oil and Gas co-acquired Point Energy Partners' Delaware Basin assets alongside Vital Energy and is a non-operated upstream oil and gas company focused on Permian and other U.S. basins. Its co-investment partnership and similar Permian-focused strategy make it a highly comparable peer.

TypeDirect peer
Description

Matador Resources is an independent upstream oil and gas E&P company with concentrated operations in the Permian Basin and Delaware Basin, directly overlapping Vital Energy's core asset footprint and business model.

TypeDirect peer
Description

Coterra Energy is an independent upstream oil and gas producer with significant Permian Basin operations alongside assets in the Marcellus and Anadarko. It shares Vital Energy's pure-play E&P business model and Permian Basin exposure.

TypeBroad incumbent
Description

Diamondback Energy is a large independent upstream E&P company primarily focused on the Permian Basin. It operates at a meaningfully larger scale than Vital Energy but shares the same core Permian-focused exploration and production model.

TypeBroad incumbent
Description

EOG Resources is one of the largest independent U.S. upstream oil and gas producers with operations across multiple shale plays including the Permian Basin. Its scale and Permian exposure make it a benchmark comparable for Vital Energy.

TypeBroad incumbent
Description

Devon Energy is a large independent upstream oil and gas producer with significant Permian Basin operations. It shares Vital Energy's core E&P business model and Permian Basin focus but operates at a substantially larger scale.

TypeDirect peer
Description

Permian Resources (formerly Centennial Resource Development) is an independent upstream E&P company focused almost exclusively on the Permian Basin and Delaware Basin. Its asset base and pure-play Permian strategy closely mirror Vital Energy's pre-merger profile.

TypeDirect peer
Description

Earthstone Energy was an independent upstream E&P company focused on the Permian Basin and Delaware Basin prior to its acquisition by BKV Corporation in 2024. Its pure-play Permian strategy and similar scale make it a comparable peer to Vital Energy.

TypeDirect peer
Description

Callon Petroleum was an independent upstream E&P company focused on the Permian Basin and Delaware Basin prior to its acquisition by APA Corporation. Its Permian-focused pure-play model closely matched Vital Energy's operating profile.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature1 record

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles5 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds5 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors1 record

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Vital Energy

Upstream Oil and Gas Exploration & Productionvitalenergy.com

Vital Energy was an independent upstream oil and gas exploration and production company operating in the Permian and Delaware basins of West Texas, selling crude oil, natural gas, and NGLs at commodity-market prices before being acquired by Crescent Energy in December 2025.

What Vital Energy does

Vital Energy, Inc. (formerly NYSE: VTLE) was an independent upstream oil and gas exploration and production company headquartered in Tulsa, Oklahoma, with a corporate office footprint extending to Houston, Texas. The company was founded in 2009 and operated a single core business line focused on the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the Permian Basin of West Texas and, following its 2024 Point Energy Partners acquisition, the Delaware Basin. Vital Energy sold its production into commodity markets at prevailing WTI and Henry Hub prices to refineries, midstream processors, and trading counterparties, generating transaction-based revenue on physical volume. The company pursued a disciplined, capital-intensive acquisition strategy to grow its development inventory and operational scale, deploying both debt (expanded credit facilities) and equity (public stock offerings) to fund deals.

The company's go-to-market was enterprise-field-sales oriented, targeting asset acquisitions and operator relationships rather than retail customers. Vital Energy's value proposition centered on high-quality development inventory in tier-one shale basins, with its 2024 Point Energy Partners transaction (~80% stake acquired for ~$820M of a ~$1.025B total) bringing specialized Delaware Basin expertise from Vortus Investments' portfolio. In August 2025, Crescent Energy announced an all-stock acquisition of Vital Energy valued at approximately $3.1 billion; the transaction closed on December 15, 2025, after which Vital Energy ceased to operate as an independent publicly traded company and became a wholly-owned subsidiary of Crescent Energy Company.

Vital Energy firmographics

Firmographics
Name
Vital Energy
Legal name
Vital Energy, Inc.
Website
https://vitalenergy.com
Company type
Public
Founded year
2009
Operating status
Acquired
Headcount range
251–500 employees
Short description
Vital Energy was an independent upstream oil and gas exploration and production company operating in the Permian and Delaware basins of West Texas, selling crude oil, natural gas, and NGLs at commodity-market prices before being acquired by Crescent Energy in December 2025.
Ownership category
akta.pro rank

Vital Energy industry classification

Industry
Product category
Upstream Oil and Gas Exploration & Production
NAICS
Oil and Gas Extraction (2111), Crude Petroleum Extraction (21112), Natural Gas Extraction (21113)
SIC
Crude Petroleum & Natural Gas (1311)
akta.pro primary industry
Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)
akta.pro secondary industries
Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG), Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing) (EUALABAF)

Keywords

  • Oil and gas exploration
  • Upstream production
  • Crude oil production
  • Natural gas production
  • Permian Basin operations

Where Vital Energy is headquartered

Location

Headquarters

HQ city
Tulsa
HQ country
United States
HQ region
North America

Offices1 record

Markets served

Vital Energy business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Supply Chain, Personnel, Infrastructure

Revenue model

  1. Oil and Gas Production Revenue: Revenue generated from the sale of crude oil, natural gas, and natural gas liquids produced from operated properties in the Permian Basin and Delaware Basin
  2. Public Stock Offerings: Capital raised through public offerings of common stock to fund acquisitions and debt repayment

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Vital Energy product offering

Product offering

Core offering

Vital Energy is an independent oil and gas exploration and production company focused on acquiring, developing, and operating oil and natural gas properties, primarily in the Permian Basin of West Texas with additional assets in the Delaware Basin acquired through the Point Energy Partners transaction. The company generates revenue from the sale of crude oil, natural gas, and natural gas liquids produced from its operated properties.

Product overview

Vital Energy is an independent oil and gas exploration and production company operating a single core product line focused on oil and natural gas exploration, development, and operations. The company operates primarily in the Permian Basin of West Texas, with additional assets in the Delaware Basin acquired through the Point Energy Partners transaction in 2024.

Differentiator

Problem solved

Functional benefit

Products and services

  • Oil and Natural Gas Exploration and Production

Quantifiable outcome

  • Acquisition expected to be immediately accretive to financial performance
  • +1 more outcomes

Companies that use Vital Energy

Customer profile

Segments1 record

Ideal customer profiles1 record

Vital Energy technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Vital Energy partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered core and major.

  • Crescent EnergycoreStrategic or Co-development Partner · 25 August 2025Crescent Energy acquired Vital Energy in a transformative $3.1 billion all-stock merger, creating a top-10 independent energy company. The transaction closed on December 15, 2025, with Crescent shareholders owning approximately 77% and Vital shareholders approximately 23% of the combined company.
  • Northern Oil and GasmajorStrategic or Co-development Partner · 29 July 2024Northern Oil and Gas co-acquired Point Energy Partners' Delaware Basin assets alongside Vital Energy, with Northern acquiring a 20% stake for approximately $220 million while Vital Energy acquired the remaining 80% stake for about $820 million.

Scale indicators6 records

Recent moves8 records

Expansion highlights4 records

Vital Energy competitors and assessment

Company assessment

Broad incumbents

  • Crescent Energy: Crescent Energy is the acquirer of Vital Energy and operates a larger upstream oil and gas portfolio across the Eagle Ford, Permian, and Uinta basins. As the parent company post-merger, it shares the same core upstream E&P business model and Permian Basin exposure as Vital Energy.
  • Diamondback Energy: Diamondback Energy is a large independent upstream E&P company primarily focused on the Permian Basin. It operates at a meaningfully larger scale than Vital Energy but shares the same core Permian-focused exploration and production model.
  • EOG Resources: EOG Resources is one of the largest independent U.S. upstream oil and gas producers with operations across multiple shale plays including the Permian Basin. Its scale and Permian exposure make it a benchmark comparable for Vital Energy.
  • Devon Energy: Devon Energy is a large independent upstream oil and gas producer with significant Permian Basin operations. It shares Vital Energy's core E&P business model and Permian Basin focus but operates at a substantially larger scale.

Direct peers

  • Northern Oil and Gas: Northern Oil and Gas co-acquired Point Energy Partners' Delaware Basin assets alongside Vital Energy and is a non-operated upstream oil and gas company focused on Permian and other U.S. basins. Its co-investment partnership and similar Permian-focused strategy make it a highly comparable peer.
  • Matador Resources: Matador Resources is an independent upstream oil and gas E&P company with concentrated operations in the Permian Basin and Delaware Basin, directly overlapping Vital Energy's core asset footprint and business model.
  • Coterra Energy: Coterra Energy is an independent upstream oil and gas producer with significant Permian Basin operations alongside assets in the Marcellus and Anadarko. It shares Vital Energy's pure-play E&P business model and Permian Basin exposure.
  • Permian Resources: Permian Resources (formerly Centennial Resource Development) is an independent upstream E&P company focused almost exclusively on the Permian Basin and Delaware Basin. Its asset base and pure-play Permian strategy closely mirror Vital Energy's pre-merger profile.
  • Earthstone Energy: Earthstone Energy was an independent upstream E&P company focused on the Permian Basin and Delaware Basin prior to its acquisition by BKV Corporation in 2024. Its pure-play Permian strategy and similar scale make it a comparable peer to Vital Energy.
  • Callon Petroleum: Callon Petroleum was an independent upstream E&P company focused on the Permian Basin and Delaware Basin prior to its acquisition by APA Corporation. Its Permian-focused pure-play model closely matched Vital Energy's operating profile.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Vital Energy social profiles

Digital presence

Vital Energy financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Vital Energy leadership team

Management profile

Number of profiles

Profiles5 records

Vital Energy funding detail

Funding detail

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Vital Energy M&A and investment

M&A and investment

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vital Energy

What does Vital Energy do?

Vital Energy is an independent oil and gas exploration and production company focused on acquiring, developing, and operating oil and natural gas properties, primarily in the Permian Basin of West Texas with additional assets in the Delaware Basin acquired through the Point Energy Partners transaction. The company generates revenue from the sale of crude oil, natural gas, and natural gas liquids produced from its operated properties.

Is Vital Energy a public or private company?

Vital Energy is a public company. It is classified as public and is currently acquired.

When was Vital Energy founded?

Vital Energy was founded in 2009. It employs 251 to 500 people.

Where is Vital Energy based?

Vital Energy is headquartered in Tulsa, United States, in the North America region.

How does Vital Energy make money?

Two revenue lines are on record. Oil and Gas Production Revenue is the primary driver. The others are public Stock Offerings.

Who are Vital Energy's main competitors?

Broad incumbents on record are Crescent Energy, Diamondback Energy, EOG Resources and Devon Energy. Direct peers are Northern Oil and Gas, Matador Resources, Coterra Energy, Permian Resources, Earthstone Energy and Callon Petroleum.

Does Vital Energy have an API?

No public API is recorded for Vital Energy.

What industry is Vital Energy in?

Vital Energy's product category is Upstream Oil and Gas Exploration & Production. Its primary akta.pro industry code is EUAAAAAK, Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance), with a secondary code of EUAAAAAG, Onshore Natural Gas E&P (Conventional Fields). Its NAICS code is 2111 and its SIC code is 1311.

Unlock the full company data

50 free credits on sign-up, no credit card required.

Contact sales
Live signals
Investing.comCrescent Energy earnings on deck: Permian synergies in focus By Investing.comCrescent Energy Co. is scheduled to report second-quarter earnings on Monday, with analysts forecasting 58 cents per share in EPS on revenue of $1.27 billion, representing year-over-year increases of 34% and 41% respectively. Investors are focused on updates regarding the integration of recently acquired Permian Basin assets from Vital Energy and potential plans for an IPO or acquisitions involving the company's minerals subsidiary Crescent Royalties, which generates approximately $200 million in annual EBITDA. The company also faces attention on its deleveraging progress, as higher debt levels compared to peers contrast with improving cash flow supported by oil prices that have rallied over 20% recently.Investing.comCrescent Energy earnings on deck: Permian synergies in focus By Investing.comCrescent Energy Co. is scheduled to report second-quarter results on Monday, with analysts forecasting earnings of 58 cents per share on revenue of $1.27 billion, representing year-over-year increases of 34% and 41% respectively. Investors will focus on the company's integration of recently acquired Permian Basin assets from Vital Energy, including the potential for lower capital expenditure guidance after reducing the Permian rig count from six to two while maintaining production targets. Analysts are also watching for updates on the Crescent Royalties minerals subsidiary, which has an approximately $200 million annual EBITDA run-rate and may be positioned for an initial public offering or acquisitions as a potential value realization event.Hart EnergyVital Brought Below-Average Midland Wells in Exit to Crescent - Hart EnergyCrescent Energy's operations in the Midland Basin involved overcoming high water cut issues from Vital Energy's assets that were exited to them. According to KeyBanc Capital Markets analysis, Vital Energy's water cut grew in 2025 to as much as 9.2 barrels of water per barrel of oil, indicating operational challenges associated with the acquired wells. The analysis highlights that Vital brought below-average wells in its exit to Crescent, reflecting suboptimal asset quality in the transaction.Simply Wall St3 US Energy Stocks With Balance Sheet And Oil Price RisksSimply Wall St published an investment analysis of three US energy stocks—Vital Energy, Viper Energy, and California Resources—amid crude oil prices falling below $80 per barrel due to a tentative US-Iran deal and elevated geopolitical tensions around the Strait of Hormuz. The analysis highlights each company's balance sheet vulnerabilities, oil price exposure, and reliance on external funding, with analysts noting cost-cutting, efficiency initiatives, and debt reduction as key considerations in the current volatile setup. The article frames these companies as potential opportunities for energy-focused investors navigating inflation, interest rate risks, and diverging central bank policies.The Real DealCrescent Energy plans $27M Houston office buildout at 609 Main Street towerCrescent Energy filed plans to build out roughly 75,000 square feet across three floors at 609 Main Street in Houston, with an estimated cost of $26.9 million. The project is scheduled to begin in August and wrap up early next year, following the company's recent lease of 125,000 square feet in the tower.PR NewswireFourPoint Resources Strengthens Executive Leadership Team to Support Continued GrowthFourPoint Resources announced a strategic leadership transition, with CFO Tad Herz transitioning to Executive Vice President and Chief Administrative Officer after 25 years in the role, while Bryan Lemmerman joins as new CFO and Board member. Lemmerman brings over 20 years of senior financial and strategic leadership experience from Vital Energy, where he most recently helped execute the company's $3.1 billion sale to Crescent Energy. The company framed the transition as part of thoughtful succession planning designed to support continued growth and disciplined expansion in the Uinta Basin.Energies MediaU.S. upstream M&A slowdown extends into 2026 amid market uncertaintyUS upstream M&A activity has declined consistently after a strong start to 2025, with industry analysts expecting the slowdown to extend into 2026 due to market uncertainty, low crude oil prices in the mid-$60s, and volatility from the Ukraine conflict. Notable deals like Crescent Energy's $3 billion+ acquisition of Vital Energy and California Resources Corp's $717 million purchase of Berry Petroleum represent exceptions to the broader downward trend, while natural gas emerges as a relative bright spot driven by data center demand. New EU sanctions requiring an end to Russian gas contracts by 2028 and US sanctions on Lukoil have added further uncertainty to the international upstream sector.Hart EnergyGone in 27 Days: Behind Vital Energy’s Exit to CrescentVital Energy was acquired by Crescent Energy in a transaction finalized on December 12 after a rapid 27-day process involving multiple prospective bidders. The merger allows the small-cap Vital to gain scale within Crescent, addressing significant financial pressures as Vital's debt reached $2.5 billion by late 2024. Shareholders approved the deal with 99% support.MarketScreenerCrescent Energy closes transformative acquisition of Vital EnergyCrescent Energy has closed its acquisition of Vital Energy, described as a transformative deal in the headline. The article contains minimal substantive content beyond the confirmation of deal closure, with the body primarily consisting of financial data widgets, analyst ratings, and company profile information rather than detailed reporting on the transaction terms or strategic implications.MarketScreenerCrescent Energy Company completed the acquisition of Vital Energy, Inc..Crescent Energy Company completed its acquisition of Vital Energy, Inc. on December 15, 2025, in an all-stock transaction valued at approximately $3.1 billion inclusive of Vital's net debt. Under the terms, Vital shareholders received 1.9062 shares of Crescent Class A common stock for each share held, resulting in ownership split of approximately 77% for Crescent shareholders and 23% for Vital shareholders on a fully diluted basis. The combined company retains the name Crescent Energy Company, remains headquartered in Houston, Texas, and the transaction was unanimously approved by both boards of directors as well as a special committee of independent directors.