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2023-12-06 14:47 EX - 99.1 2 d132755dex991.htm EX - 99.1 Vine ENERGY Highlights Vine Energy Inc. Announces First - Quarter 2021 Results and Provides 2021 Guidance Plano , Texas , May 17 , 2021 - Vine Energy Inc. ( NYSE : VEI ) ( “ Vine " or the " Company " ) today reported first - quarter 2021 results and provided full year 2021 guidance and select guidance for the second - quarter 2021 . First - Quarter 2021 Select Financial Highlights The highlights presented below reflect select financial metrics from the unaudited financial statements for the three months ended March 31 , 2021 and 2020 and include the results of the predecessor Vine Oil & Gas LP for the entire period and the results of Brix Oil & Gas Holdings LP and Harvest Royalties Holdings LP from March 17 , 2021 , the effective date of the combination resulting from the corporate reorganization in connection with the initial public offering . Completed IPO on March 17 , 2021 , raising net proceeds of approximately $ 322 million Issued $ 950 million of 8 - year , 6.75 % senior unsecured notes to retire predecessor company notes ; projected to save nearly $ 20 million per year in cash interest expense Closed on a new reserves - based lending facility ( “ RBL " ) with an initial borrowing base of $ 350 million ● ( $ millions , except per share metrics ) Production ( MMcfd ) ● EX - 99.1 Revenue , w / derivatives Operating Income Operating Cash Flow Financial and Operational Highlights 1 Q1 2021 Exhibit 99.1 724 $ 118 $ ( 23 ) $ 105 $ ( 58 ) $ ( 16 ) $ ( 3.95 ) Net Income Net Income attributable to Vine Earnings per share The unaudited financial statements are presented in their entirety in the appendix of this release . To facilitate a clearer representation of first - quarter 2021 performance , all results presented hereinafter are pro forma for the combination resulting from the corporate reorganization and initial public offering as if the transactions occurred on January 1 , 2020 . https://www.sec.gov/Archives/edgar/data/1693853/000119312521162725/d132755dex991.htm Q1 2020 622 $ 130 $ 3 $ 100 $ ( 27 ) Change 102 $ ( 12 ) $ ( 26 ) $ 5 $ ( 31 ) Generated $ 145 million of adjusted EBITDAX and $ 20 million of Adjusted Free Cash Flow Incurred capital of $ 98 million , or 68 % of adjusted EBITDAX Announced 2021 capital guidance , which is projected to yield average annual production of approximately 1 Bcf per day ( net ) while generating substantial Adjusted Free Cash Flow Continued to demonstrate progress toward the Company's objective to reduce methane and greenhouse gas intensity 1/15