Vital Energy completed the acquisition of Midland Basin assets of Driftwood Energy for $128m.

Vital Energy, an independent energy company, completed the acquisition of Midland Basin assets of Driftwood Energy, an oil & natural gas company, for $128m. "This purchase strengthens Vital by expanding our footprint into Upton County, adding high-return inventory and a new development area in the Midland Basin. Importantly, it is also accretive on key financial metrics, is leverage neutral and extends our proven track record of completing disciplined transactions that add value for shareholders. We plan to develop these assets over the next two to three years without increasing our current activity levels, highlighting our commitment to maintaining capital discipline and maximizing Free Cash Flow generation," Jason Pigott, Vital Energy President and CEO.