Mikell Pigott on technology
From Vital Energy CEO discusses the company's rebrand and what drove the decision · · New York Stock Exchange
“We've embraced technology, using things like digital transformation and artificial intelligence to impact our operations. This morning we announced that we were 1,500 barrels a day higher than the higher end of what we anticipated, and I think it's really a reflection of everything coming together.”
On , Mikell Pigott, President, Chief Executive Officer & Director at VITAL ENGY INC, spoke about technology during Vital Energy CEO discusses the company's rebrand and what drove the decision on New York Stock Exchange.
About Mikell Pigott
In a September 2023 interview, Vital Energy President and CEO Jason Pigott discussed the company's rebrand from Laro Petroleum to Vital Energy, which became effective that day. Pigott stated that the company had "really transformed" over the previous three and a half years under his leadership, including acquiring more acreage and drilling higher-quality wells. He said the rebrand was chosen because "what we do is vital to the world" and that the company is focused on providing energy "in the most sustainable way possible." Pigott also highlighted operational improvements, noting that the company had embraced technology such as digital transformation and artificial intelligence. He said the company announced production that was 1,500 barrels per day higher than the higher end of its anticipated range, which he described as "a reflection of everything coming together." Strategically, Pigott said the company's priorities include increasing shareholder value, using free cash flow to pay down debt or repurchase shares, and pursuing acquisitions to create greater scale, stating that "you've got to be a larger scale in size to have a larger impact."