reports
Vitesse Energy Announces Second Quarter 2024 Results
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today reported the Company’s second quarter 2024 financial and operating results. SECOND QUARTER 2024 HIGHLIGHTS As previously announced, declared a quarterly cash dividend of $0.525 per common share to be paid on September 30, 2024 Net income of $10.9 million and Adjusted Net Income(1) of $11.7 million Adjusted EBITDA(1) of $43.1 million Cash flow from operations of $35.2 million and Free Cash Flow(1) of $15.9 million Production of 13,504 barrels of oil equi...
Vitesse Energy Declares $0.525 Quarterly Cash Dividend
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse”) today announced that its Board of Directors declared its third quarter cash dividend for Vitesse’s common stock of $0.525 per share for stockholders of record as of September 16, 2024, which will be paid on September 30, 2024. ABOUT VITESSE ENERGY, INC. Vitesse Energy, Inc. is focused on returning capital to stockholders through owning financial interests as a non-operator in oil and gas wells drilled by leading US operators. More information about Vitesse can be found at . View source version on bu...
Vitesse Energy Announces Second Quarter 2024 Earnings Release Date and...
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse” or the “Company”) today announced that it plans to issue its second quarter 2024 financial and operating results on Monday, August 5, 2024, after market close. Additionally, the Company will host a conference call on Tuesday, August 6, 2024, at 11:00 a.m. Eastern Time. Those wishing to listen to the conference call may do so via phone or the Company’s webcast. Conference Call and Webcast Details: Date: August 6, 2024 Time: 11:00 a.m. Eastern Time Dial-In: 877-407-0778 International Dial-In: 201-...
- Jeff Robertson
Strategy Underlying Vitesse's "Velocity of Capital Compounding" Model
We hosted a fireside chat with President Brian Cree, CFO Jimmy Henderson, and Director of Investor Relations and Business Development Ben Messier on May 14, 2024, to discuss the company’s strategy to drive value utilizing a return-of-capital business model. This report contains a transcript of the conversation, which can be accessed on demand. Link is accessible in our full report. Vitesse’s return-of-capital strategy is based on a disciplined capital allocation framework, which prioritizes fund...
- Dave Nicoski
- Ross LaDuke
Vital Signs: Actionable charts
Vital Signs - Charts of the Day: ONON, CDRO, DESP, DBD, LFUS, OUST, UI, VTS, WLFC, HOOD, JXN, FG, ACIC, CB, NMRK, AOMR, COFS, UBAB, HIMS, PNTH, RNA, CDNA, DCTH, EBS, HROW, PRIM, ACDC, LBRT, AA, CENX, SCCO, FCX, AU, CDE, GATO, HL, RGLD, LXU, PLL, PRM, RBC, In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bot...
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- Jeff Robertson
Execution Drives 5% Dividend Boost
Vitesse increased its 2Q24 quarterly dividend 5% to $0.525, reflecting a strong production outlook driven by the execution of management’s strategy to grow the asset base with near-term development acquisitions and organic growth projects that surpass its economic hurdle rates. The current yield is 8.7%. Vitesse’s business philosophy is built on the premise of compounding cash invested in oil-oriented producing assets in the Bakken play to sustain and grow the asset base in a fiscally conservati...
Vitesse Energy Announces First Quarter 2024 Results and Additional Nea...
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today reported the Company’s first quarter 2024 financial and operating results, announced additional acquisitions, raised 2024 guidance and declared an increased quarterly cash dividend. HIGHLIGHTS Declared a quarterly cash dividend of $0.525 per common share, a 5% increase from the prior quarter, to be paid on June 28, 2024 Announced additional near-term development acquisitions in the Williston Basin driving over $40 million of incremental capital expenditures thr...
Vitesse Energy Announces First Quarter 2024 Earnings Release Date and ...
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse” or the “Company”) today announced that it plans to issue its first quarter 2024 financial and operating results on Monday, May 6, 2024, after market close. Additionally, the Company will host a conference call on Tuesday, May 7, 2024, at 11:00 a.m. Eastern Time. Those wishing to listen to the conference call may do so via phone or the Company’s webcast. Conference Call and Webcast Details: Date: May 7, 2024 Time: 11:00 a.m. Eastern Time Dial-In: 877-407-0778 International Dial-In: 201-689-8565 Conferenc...
- Jeff Robertson
Compounding Capital to Support Dividend Strategy
Vitesse’s strategy is to compound cash flow derived from its diverse portfolio of oil-prone assets in the Bakken/Three Forks play to fund capital returns to shareholders and reinvest in the underlying asset base. Management’s preferred method for returning cash is through a sustainable fixed dividend, currently $2.00/share annualized. The dividend is sacrosanct and lies at the heart of management’s capital allocation model. Capital is allocated to what management believes are the highest return...
Vitesse Energy Announces Full Year 2023 Results and Declares $0.50 Qua...
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or “the Company”) today announced the Company’s 2023 financial and operating results and declared a quarterly cash dividend. HIGHLIGHTS Declared a quarterly cash dividend of $0.50 per common share to be paid on March 29, 2024 Net loss of $19.7 million and Adjusted Net Income(1) of $53.6 million Adjusted EBITDA(1) of $157.0 million Cash flow from operations of $141.9 million and Free Cash Flow(1) of $60.7 million Production of 11,889 barrels of oil equivalent (“Boe”) per day (68% oil)...
Vitesse Energy Announces Year-End 2023 Earnings Release Date and Confe...
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse” or the “Company”) today announced that it plans to issue its year-end 2023 financial and operating results on Monday, February 26, 2024, after market close. Additionally, the Company will host a conference call on Tuesday, February 27, 2024, at 11:00 a.m. Eastern Time. Those wishing to listen to the conference call may do so via phone or the Company’s webcast. Conference Call and Webcast Details: Date: February 27, 2024 Time: 11:00 a.m. Eastern Time Dial-In: 877-407-0778 International Dial-In: 201-689-8565 C...
- Jeff Robertson
Estimate Update
We are updating our 4Q23 and FY24 estimates to reflect actual 4Q23 reference prices and lower estimated FY24 natural gas prices. Our 4Q23 NYMEX reference prices averaged $78.32/bbl for oil and $2.92/MMBtu for natural gas compared with our $85.00 and $3.00/MMBtu estimates. We have lowered our average FY24 natural gas price estimate to $2.66/MMBtu from $3.44/MMBtu. We are currently modeling average FY24 oil prices of $80/bbl. Oil accounts for 67% of our 4Q23 average production estimate of 12,500 B...
- Jeff Robertson
Dividend-Focused Business Model
We hosted a fireside chat with Chairman and CEO Bob Gerrity and President Brian Cree on December 7, 2023. The event can be accessed here. Vitesse’s capital allocation model revolves around positioning the company to pay fixed dividends to common stockholders. The current annualized dividend is $2.00 per share, equating to a 9.0% yield. Vitesse was founded on a thesis of Deeper, Denser, Cheaper, Better, Expanded. The thesis is based on the premise that evolving technology will contribute to incre...
- Jeff Robertson
Fireside Chat: Strategy Discussion
Join us for an open-access fireside chat discussion with Chairman and Chief Executive Officer Bob Gerrity and President Brian Cree on Thursday, December 7, 2023, at 4:00 pm ET. Participants can access the event here. Our discussion will focus on Vitesse’s mission of returning capital to stockholders through dividends funded by free cash flow generated from its capital allocation model targeting non-operated interests in oil & gas assets in major US producing basins. Vitesse’s current annualized ...
- Jeff Robertson
Turning Oil into Dividends
Vitesse’s business mission is to return capital to stockholders from free cash flow generated from its capital allocation model targeting non-operated interests in oil & gas assets in major onshore US producing regions. Favored assets are located in plays where advancing technology can positively affect future returns. A fixed common stock dividend is management’s preferred vehicle to return capital to stockholders. The current quarterly dividend is $0.50/share and will be paid on December 29, 2...
Vitesse Energy Announces Third Quarter 2023 Results and Declares $0.50...
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today announced the Company’s third quarter 2023 financial and operating results and declared a quarterly cash dividend. HIGHLIGHTS Declared a quarterly cash dividend of $0.50 per common share to be paid on December 29, 2023 As previously announced, acquired additional oil and gas interests that will result in approximately $50.0 million of acquisition and related development capital expenditures primarily before year-end 2023 Net loss of $1.5 million and Adjusted Net Inc...
Vitesse Energy Announces Third Quarter 2023 Earnings Release Date and ...
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse” or the “Company”) today announced that it plans to issue its third quarter 2023 financial and operating results on Wednesday, November 1, 2023, after market close. Additionally, the Company will host a conference call on Thursday, November 2, 2023, at 9:00 a.m. Eastern Time. Those wishing to listen to the conference call may do so via phone or the Company’s webcast. Conference Call and Webcast Details: Date: November 2, 2023 Time: 9:00 a.m. Eastern Time Dial-In: 877-407-0778 International Dial-In: 201-689-8565...
Vitesse Energy Announces Several Impactful Acquisitions, Revised 2023 ...
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse” or the “Company”) today announced several impactful acquisitions, revised 2023 guidance and a preliminary outlook on 2024, and additional hedging. ACQUISITIONS Vitesse has acquired additional oil and gas interests in the Williston Basin of North Dakota that will result in approximately $50 million of acquisition and related development capital expenditures, primarily in the third and fourth quarters of 2023. These acquisitions increase the Company’s 2023 capital expenditures guidance range and are expected to ...
Vitesse Energy Announces Second Quarter 2023 Results
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today announced the Company’s second quarter 2023 financial and operating results. HIGHLIGHTS Net income of $9.6 million and $11.4 million of Adjusted Net Income(1) Adjusted EBITDA(1) of $34.8 million Cash flow from operations of $39.0 million and Free Cash Flow(1) of $16.1 million Production of 11,359 barrels of oil equivalent (“Boe”) per day (67% oil) Total cash capital expenditures of $20.5 million, of which $17.4 million were related to drilling and completion c...
Vitesse Energy Declares $0.50 Quarterly Cash Dividend
CENTENNIAL, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse”) today announced that its Board of Directors declared its third quarter cash dividend for Vitesse’s common stock of $0.50 per share for stockholders of record as of September 15, 2023, which will be paid on September 29, 2023. Future declarations of quarterly dividends and the establishment of record and payment dates are subject to approval by the Board of Directors. ABOUT VITESSE ENERGY, INC. Vitesse Energy, Inc. is focused on returning capital to stockholders through owning financial interests as a non-oper...
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