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Vitesse Energy, Inc. (NYSE: VTS) is an independent energy company headquartered in the United States. The company is distinctly focused on maximizing shareholder value by owning financial interests in oil and natural gas wells. Unlike traditional operators, Vitesse Energy functions as a non-operator, partnering with leading US operators who handle the drilling and operational aspects.
Vitesse Energy’s core business involves the acquisition, development, and production of non-operated oil and natural gas properties. These properties are primarily located in prolific regions such as the Williston Basin in North Dakota and Montana. Additionally, the company holds significant interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. This geographical diversity allows Vitesse Energy to capitalize on various lucrative opportunities within the energy sector.
The company has built a robust portfolio by strategically acquiring properties that are managed by expert operators. This approach enables Vitesse Energy to mitigate operational risks while leveraging the expertise of its partners. The company’s business model is designed to ensure steady cash flow and sustainable returns to shareholders.
Vitesse Energy is committed to returning capital to stockholders. This commitment is reflected in its careful selection of high-quality assets and disciplined financial management. By focusing on non-operated interests, the company can optimize its investment returns and provide attractive dividends to its shareholders.
Recent achievements highlight the company’s strategic growth and financial health. Vitesse Energy continues to expand its asset base and enhance production capabilities. The company’s financial condition is solid, with a focus on maintaining a strong balance sheet and efficient capital allocation.
Partnerships with some of the leading operators in the oil and gas industry further strengthen Vitesse Energy’s market position. These collaborations allow the company to benefit from advanced technologies, operational efficiencies, and market insights, thereby maximizing the value of its investments.
For investors seeking exposure to the energy sector, Vitesse Energy represents a compelling opportunity. Its non-operating strategy, diversified asset base, and commitment to shareholder returns make it a noteworthy player in the industry.
Vitesse Energy (NYSE: VTS) has announced a definitive agreement to acquire Lucero Energy in an all-stock transaction valued at US$222 million. Under the deal, Lucero shareholders will receive 0.01239 Vitesse shares for each Lucero share, resulting in approximately 8,175,000 shares to be issued at closing. The acquisition is expected to be immediately accretive to Vitesse's earnings and support a dividend increase from $2.10 to $2.25 per share annually.
Key highlights include Lucero's debt-free status with US$56 million in cash, expected annual G&A synergies of US$3 million, and combined two-stream production of approximately 19.4 Mboe/d. The deal adds operational capabilities with over 65 producing wells and up to 50 gross locations in the Bakken. Post-closing, existing Vitesse stockholders will own approximately 80% of the combined company.
Vitesse Energy (NYSE: VTS) reported Q3 2024 financial results with net income of $17.4 million and Adjusted EBITDA of $37.6 million. Production averaged 13,009 barrels of oil equivalent per day (68% oil). The company declared a quarterly cash dividend of $0.525 per share. Total revenue, including hedges, was $59.7 million, with average realized oil prices at $69.43/Bbl before hedging. The company revised its 2024 guidance, tightening production range to 13,000-13,500 Boe/day and lowering capital expenditure to $110-120 million. For 2025, Vitesse expects a 7% production increase to 14,125 Boe/day at midpoint.
Vitesse Energy (NYSE: VTS) has announced its fourth quarter cash dividend of $0.525 per share. The dividend will be paid on December 31, 2024, to stockholders of record as of December 16, 2024.
Vitesse Energy (NYSE: VTS) has announced its plans to release its third quarter 2024 financial and operating results on Monday, November 4, 2024, after market close. The company will also host a conference call on Tuesday, November 5, 2024, at 11:00 a.m. Eastern Time.
Interested parties can join the conference call via phone or webcast. The dial-in numbers are 877-407-0778 for domestic callers and 201-689-8565 for international callers, with the Conference ID: 13749630. A webcast link is provided for online participation.
A replay of the conference call will be available through November 12, 2024, with separate dial-in numbers for domestic and international callers.
Vitesse Energy (NYSE: VTS) reported its Q2 2024 financial results, highlighting a 5% dividend increase to $0.525 per share. Key metrics include:
- Net income: $10.9 million
- Adjusted Net Income: $11.7 million
- Adjusted EBITDA: $43.1 million
- Cash flow from operations: $35.2 million
- Free Cash Flow: $15.9 million
- Production: 13,504 Boe/day (70% oil)
- Total debt: $115.0 million
- Net Debt to Adjusted EBITDA ratio: 0.67
The company closed previously announced near-term development acquisitions in the Williston Basin, expecting significant production and cash flow increases in Q4 2024 and early 2025. Vitesse reaffirmed its 2024 annual guidance with production between 13,000-14,000 Boe/day and total capital expenditures of $130-$150 million.
Vitesse Energy (NYSE: VTS) has announced its third quarter cash dividend for common stockholders. The Board of Directors has declared a dividend of $0.525 per share. This dividend will be paid on September 30, 2024, to stockholders of record as of September 16, 2024. Vitesse Energy, headquartered in Greenwood Village, Colorado, continues to demonstrate its commitment to providing value to its shareholders through consistent dividend payments.
Vitesse Energy (NYSE: VTS) has announced the release date for its second quarter 2024 financial and operating results. The company will issue the results on Monday, August 5, 2024, after market close. A conference call to discuss the results is scheduled for Tuesday, August 6, 2024, at 11:00 a.m. Eastern Time.
Interested parties can join the conference call via phone or webcast. The dial-in numbers are 877-407-0778 (domestic) and 201-689-8565 (international), with the conference ID 13747956. A webcast link is also provided. A replay of the call will be available through August 13, 2024, using the same conference ID.
Vitesse Energy, Inc. (NYSE: VTS) reported Q1 2024 results, acquired new assets, raised 2024 guidance, and increased dividend to $0.525. They had a net loss of $2.2 million, but an Adjusted Net Income of $10.2 million. Adjusted EBITDA was $39.1 million. Oil & gas production averaged 12,557 Boe per day. Total revenue was $62.0 million. Vitesse's total debt was $98.0 million, with a Net Debt to Adjusted EBITDA ratio of 0.62. They are focusing on capital returns, new acquisitions, and increasing production for 2024.
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