What Vital Energy does

Vital Energy Inc. is a publicly traded junior oil and gas exploration and production company headquartered in Calgary, Alberta, and listed on the TSX Venture Exchange under the symbol VUX. The company is focused on the exploration, development, and production of conventional crude oil from shallow, light to medium gravity reservoirs in Western Canada, specifically in southwest Saskatchewan and central Alberta. It originated as Ceno Energy Limited in 2006 and entered the public markets in June 2014 through the amalgamation of Ceno Energy Limited and Sundance Energy Corporation, accompanied by a CAD 10 million equity financing. Insider and management ownership exceeds 50% of issued shares (60,499,971 basic and 86,499,971 fully diluted as of June 2018), typical of junior Canadian E&Ps.

Vital Energy's asset base is concentrated in three core project areas. The Gull Lake Project in southwest Saskatchewan is operated with a 50% working interest and produces 17-24° API medium gravity crude from the Roseray, Upper Shaunavon, and Cantaur formations at shallow depths, with 3D seismic coverage across core lands and vertically stacked pays. The Pennant Project, also in southwest Saskatchewan, spans 13 sections (8,320 acres) and is operated with a 100% working interest, with the Upper Shaunavon as the primary target producing ~21.5° API oil at approximately 980 metres. The Baxter Lake Project in central Alberta is operated at 100% working interest and produces heavy oil of 16° API from the Sparky Formation. The company additionally reports activity at Ante Creek and holds non-core assets in the Lloydminster area. Technical work is grounded in 3D seismic analysis combined with conventional drilling and multistage fracturing completion techniques.

Revenue is generated by selling produced crude oil to refiners, midstream processors, and commodity traders at prevailing market prices, with no product-level pricing differentiation; oil and gas commodity pricing is set by global markets rather than the company. The company is small (11-50 employees), with minimal disclosed operating revenue and reported financials reflecting a junior producer profile. Capital structure activity has included a CAD 2.125 million director-subscribed convertible debenture in Q4 2015 and a AU$20 million two-year loan at 15% per annum interest entered into in September 2025 with an arm's length lender. In January 2026, the company acquired additional Canadian petroleum rights for CAD 5,998,139, indicating ongoing asset accumulation.

Name

Vital Energy

Legal name

Vital Energy Inc.

Website

https://vitalenergyoil.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Vital Energy Inc. is a Calgary-based, TSX Venture-listed junior oil and gas company focused on conventional crude oil exploration, development, and production in Western Canada, operating three core projects across Alberta and Saskatchewan.

Ownership category

akta.pro rank

Product category

Crude Oil Exploration and Production

NAICS

Oil and Gas Extraction (2111), Crude Petroleum Extraction (211120), Oil and Gas Extraction (211), Crude Petroleum Extraction (21112)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)

akta.pro secondary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

Keywords

• Crude oil production
• Oil and gas exploration
• Upstream energy operations
• Conventional oil development
• Petroleum resource extraction

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Oil and Gas Production Revenue: Revenue generated from the exploration, development and production of crude oil and natural gas from properties in Alberta and Saskatchewan, including medium gravity crude oil from the Roseray, Cantuar and Shaunavon formations, light oil in central Alberta, and heavy oil (API 16°) from the Sparky formation.

Core offering

Vital Energy Inc. is a junior upstream oil and gas company that explores for, develops, and produces conventional crude oil from properties in Alberta and Saskatchewan, Western Canada. The company operates three core producing projects (Gull Lake, Pennant, and Baxter Lake) targeting medium gravity and heavy oil across the Roseray, Cantuar, Shaunavon, and Sparky formations, selling produced hydrocarbons to refiners, midstream processors, and commodity traders at prevailing market prices.

Product overview

Vital Energy Inc. is a public junior oil and gas company focused on conventional crude oil exploration, development, and production in Western Canada. The company operates a portfolio of oil and gas assets across three core development areas: Gull Lake Project (50% working interest, medium gravity oil in S.W. Saskatchewan), Pennant Project (100% working interest, medium light oil in S.W. Saskatchewan), and Baxter Lake Project (100% working interest, heavy oil in Central Alberta). The company also holds non-core assets in the Lloydminster area. These projects collectively target light to medium gravity crude oil reserves in the provinces of Alberta and Saskatchewan.

Differentiator

Problem solved

Functional benefit

Products and services

• Gull Lake Project

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Gear Energy Ltd. TSX-listed intermediate junior E&P focused on heavy and light oil production in Western Canada, with a multi-zone conventional drilling inventory analogous to Vital's Gull Lake stacked-pay strategy.
• Pine Cliff Energy Ltd. TSX-listed junior E&P with a diversified Western Canadian asset base producing natural gas, NGLs, and light oil; comparable in scale, capital markets profile, and conventional onshore Canadian focus.
• Cardinal Energy Ltd. TSX-listed junior conventional oil producer focused on low-decline, light/medium gravity crude in Western Canada (Alberta and Saskatchewan); directly comparable business model, asset geography, and production profile to Vital Energy.
• Yangarra Resources Ltd. TSX-listed junior E&P focused on tight oil and natural gas in the Cardium and other Western Canadian formations — comparable in conventional asset focus, scale, and listing tier.
• Saturn Oil & Gas Inc. TSX.V-listed junior E&P with operations concentrated in Western Canada, focused on light oil production with an active acquisition strategy — directly comparable in size, listing tier, and conventional oil focus to Vital.
• Granite Ridge Resources Corp. NYSE-listed junior E&P backed by non-operated and operated working interests in U.S. conventional basins — comparable in working-interest-driven production model though larger and U.S.-focused.
• Razor Energy Corp. Junior Canadian E&P focused on light oil production in Alberta using horizontal multi-well development — comparable in scale, conventional asset base, and junior capital-markets profile.

Broad incumbents

• Whitecap Resources Inc. TSX-listed intermediate Canadian E&P with diversified light oil, condensate, and natural gas production in Western Canada; larger incumbent with overlapping asset geographies and customer base.
• Crescent Point Energy Corp. Major TSX-listed Canadian E&P with significant conventional and unconventional light/heavy oil production in Saskatchewan and Alberta; a much larger incumbent operating in the same basins as Vital.
• Bonterra Energy Corp. TSX-listed intermediate Canadian E&P producing light/medium gravity oil and natural gas from the Cardium and other Western Canadian formations — broader scale but directly comparable conventional asset geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors

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

M&A

Investments

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

Frequently asked questions about Vital Energy