reports
Vitesse Energy Announces Fourth Quarter and Full Year 2024 Results, In...
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today reported the Company’s fourth quarter and full year 2024 financial and operating results, declared an increased quarterly cash dividend and issued 2025 guidance for production and capital expenditures. HIGHLIGHTS Declared a quarterly cash dividend of $0.5625 per common share to be paid on March 31, 2025, a 7% increase from the prior quarter Closed previously announced accretive acquisition of Lucero Energy Corp. (“Lucero”) on March 7, 2025 Full year 2024 net in...
Vitesse Energy Announces Completion of Lucero Acquisition
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) announced today the completion of its previously announced acquisition (the “Arrangement”) of Lucero Energy Corp. (TSXV: LOU, OTCQB: PSHIF) (“Lucero”). The Arrangement was approved by Vitesse stockholders and Lucero shareholders on March 5, 2025 and March 6, 2025, respectively, and Lucero received the approval of the Court of King’s Bench of Alberta on March 6, 2025. “We are pleased to complete the acquisition of Lucero, which is expected to increase our dividend and will pr...
Vitesse Energy Announces Full Year and Fourth Quarter 2024 Earnings Re...
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“Vitesse” or the “Company”) today announced that it plans to issue its full year and fourth quarter 2024 financial and operating results and 2025 guidance on Tuesday, March 11, 2025, following the expected close of the previously announced acquisition of Lucero Energy Corp. Additionally, the Company will host a conference call on Wednesday, March 12, 2025, 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: D...
Vitesse Energy to Acquire Lucero Energy in Accretive All-Stock Transac...
GREENWOOD VILLAGE, Colo. & CALGARY, Alberta--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “Vitesse,” or the “Company”) and Lucero Energy Corp. (TSXV: LOU, OTCQB: PSHIF) (“Lucero”) today announced they have entered into a definitive agreement under which Vitesse will acquire Lucero in an all-stock transaction with a fully diluted equity value of US$222 million. Under the terms of the agreement, Lucero shareholders will receive 0.01239 of a share of Vitesse common stock for each common share of Lucero. The addition of Lucero’s operations will provide additional scale to Vitesse’s as...
Vitesse Energy Announces Third Quarter 2024 Results, Revised 2024 Guid...
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today reported the Company’s third quarter 2024 financial and operating results, revised 2024 guidance, and provided a preliminary outlook for 2025. THIRD QUARTER 2024 HIGHLIGHTS As previously announced, declared a quarterly cash dividend of $0.525 per common share to be paid on December 31, 2024 Net income of $17.4 million and Adjusted Net Income(1) of $7.6 million Adjusted EBITDA(1) of $37.6 million Cash flow from operations of $45.7 million and Free Cash Flow(1) o...
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 fourth quarter cash dividend for Vitesse’s common stock of $0.525 per share for stockholders of record as of December 16, 2024, which will be paid on December 31, 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 busines...
Vitesse Energy Announces Third 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 third quarter 2024 financial and operating results on Monday, November 4, 2024, after market close. Additionally, the Company will host a conference call on Tuesday, November 5, 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: November 5, 2024 Time: 11:00 a.m. Eastern Time Dial-In: 877-407-0778 International Dial-In: 201-6...
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...
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