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GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today announced the closing of an accretive acquisition of non-operated oil and gas assets in the Denver-Julesburg Basin.

HIGHLIGHTS

Closed an acquisition of non-operated assets in the Denver-Julesburg Basin of Colorado Initial unadjusted purchase price of $26.0 million Expected production of approximately 900 Boe per day over the next twelve months (28% oil) The acquisition is expected to be immediately accretive on a per share basis to earnings, operating cash flow, Free Cash Flow, and net asset value Vitesse has hedged a significant portion of the acquired production through 2030 to support underwritten returns MANAGEMENT COMMENTS

“We are pleased to announce a strategic, non-operated acquisition in the Denver-Julesburg Basin, further strengthening Vitesse's position in one of the premier oil and gas basins in the United States. This transaction adds a high-quality, predominantly proved developed producing asset base operated by Chevron,” said Jamie Benard, Vitesse’s Chief Executive Officer and President. “The acquisition is expected to be immediately accretive on a per share basis to our key metrics, and is directly in line with our disciplined acquisition strategy of delivering durable, low-risk returns to our stockholders.”

ACQUISITION DETAILS

The initial unadjusted purchase price for the acquisitions is $26.0 million, subject to customary purchase price adjustments. The cash consideration was funded with cash on hand and borrowings under Vitesse’s revolving credit facility.

The acquired assets are located primarily in Weld County, Colorado, and are entirely operated by Chevron. Over the next twelve months following the effective date, the acquired assets are expected to produce approximately 900 Boe per day on a two-stream basis (28% oil).

In connection with the acquisition, Vitesse has entered into commodity derivative contracts covering a significant portion of the acquired production through 2030 to support the underwritten returns.

The acquisition closed on September 15, 2026, with an effective date of June 1, 2026.

ABOUT VITESSE ENERGY, INC.

Vitesse Energy, Inc. is focused on returning capital to stockholders through owning financial interests predominantly as a non-operator in oil and gas wells drilled by leading U.S. operators.

More information about Vitesse can be found at www.vitesse-vts.com.

An acquisition-specific slide presentation will be posted on Vitesse’s website, www.vitesse-vts.com, in the “Investor Relations” section of the site, under “News & Events,” sub-tab “Presentations.”

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this release regarding Vitesse’s financial position, operating and financial performance, business strategy, dividend plans and practices, guidance, plans and objectives of management for future operations, and industry conditions, including estimated performance of the acquired assets, are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Vitesse’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in oil and natural gas prices; the pace of drilling and completions activity on Vitesse’s properties; Vitesse’s ability to acquire additional development opportunities; potential acquisition transactions; integration and benefits of acquisitions, or the effects of such acquisitions on Vitesse’s cash position and levels of indebtedness; the final purchase price adjustments for acquisitions; title, environmental and other defects affecting the acquired assets; the accuracy of Vitesse’s estimates of production, cash flows and reserves attributable to the acquired assets; the effectiveness of hedging arrangements entered into in connection with the acquisition; changes in Vitesse’s reserves estimates or the value thereof; disruptions to Vitesse’s business due to acquisitions and other significant transactions; infrastructure constraints and related factors affecting Vitesse’s properties; cost inflation or supply chain disruption; ongoing legal disputes over the Dakota Access Pipeline; the impact of general economic or industry conditions, nationally and/or in the communities in which Vitesse conducts business; changes in the interest rate environment, legislation or regulatory requirements; changes in U.S. trade policy, including the imposition of and changes in tariffs and resulting consequences; conditions of the securities markets; Vitesse’s ability to raise or access capital; cyber-related risks; changes in accounting principles, policies or guidelines; and financial or political instability, health-related epidemics, acts of war (including continued hostilities in the Middle East, including conflict with Iran and disruption to key maritime shipping routes in the region, the conflict in Ukraine and developments in Venezuela) or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Vitesse’s operations, products and prices. Additional information concerning potential factors that could affect future results is included in the section entitled “Item 1A. Risk Factors” and other sections of Vitesse’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause Vitesse’s actual results to differ from those set forth in the forward-looking statements.

Vitesse has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Vitesse’s control. Vitesse does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.

NON-GAAP FINANCIAL MEASURES

Disclosure regarding Free Cash Flow has been prepared by management of Vitesse. This financial measure is not defined under U.S. GAAP.

Vitesse defines Free Cash Flow as cash flow from operations, adjusting for changes in operating assets and liabilities in addition to certain other items such as material general and administrative costs, less development of oil and gas properties.

Management believes the use of this non-GAAP financial measure provides useful information to investors to gain an overall understanding of financial performance. Specifically, management believes the non-GAAP financial measure included herein provide useful information to both management and investors by excluding certain items that management believes are not indicative of Vitesse’s core operating results. In addition, this non-GAAP financial measure is used by management for budgeting and forecasting as well as subsequently measuring Vitesse’s performance, and management believes it is providing investors with financial measures that most closely align to its internal measurement processes.

More News From Vitesse Energy, Inc.

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Vitesse Energy NYSE: VTS President and CEO Jamie Benard outlined the company’s non-operated energy investment model, capital-allocation priorities and approach to maintaining its shareholder dividend during a presentation at an EnerCom event.

Benard, who became president and CEO in May, said Denver-based Vitesse owns operated and predominantly non-operated interests in more than 7,800 wells managed by 30 operators across three basins. The company’s portfolio is concentrated in the Williston Basin, with additional exposure to the DJ and Powder River basins.

“At its core, though, the business is pretty simple,” Benard said. “We invest capital where we believe we can earn accretive returns, convert those investments into free cash flow, and return a meaningful portion of that cash to our shareholders through a durable dividend.”

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Dividend and balance-sheet priorities Benard described Vitesse’s strategy through four steps: own, acquire, convert and return. The company owns interests in existing wells, acquires additional interests that meet its return criteria, converts those investments into production and free cash flow, and returns capital to shareholders, with the dividend taking priority.

At the midpoint of its 2026 production guidance, Vitesse expects to produce 16,750 barrels of oil equivalent per day, with oil accounting for 61% of production, Benard said. The company’s annualized dividend is $1.75 per share.

The company uses hedges to provide visibility into the cash flows supporting its dividend rather than to make directional commodity-price bets, according to Benard. Its hedge book extends through 2029. Vitesse also targets leverage of one times or less, though it could exceed that level for a compelling acquisition if it has what Benard called a “clear and credible path” back below the target.

Vitesse’s capital-allocation framework prioritizes the dividend, followed by accretive acquisitions, a conservative balance sheet and other high-return opportunities. Potential uses of capital include participating in wells on existing acreage, purchasing near-term development interests, acquiring larger producing properties and reducing debt.

Benard said share repurchases are not currently a designated use within the company’s capital-allocation waterfall because Vitesse sees substantial reinvestment opportunities across its organic inventory, near-term development acquisitions and larger producing-property deals.

Acquisition flexibility and non-operated portfolio Vitesse’s average working interest across its 7,800-well portfolio is 3.5%, providing broad diversification across its assets and operators. In the Williston Basin, where the company has its largest presence, 17 of 31 active rigs, or 54%, were operating on Vitesse acreage at the time of the presentation, Benard said.

The company evaluates participation in each proposed well based on economics at prevailing strip prices. Since spinning out in 2023, Vitesse has consented to 93% of proposed wells, according to Benard.

Vitesse can deploy capital through several avenues, including participating in proposed wells, acquiring individual wellbore interests, buying producing properties with undeveloped inventory, and partnering with operators or purchasing carved-out interests from their development programs.

Since its founding in 2013, Vitesse has completed more than 175 acquisitions representing about $800 million in value. Five acquisitions ranged from $35 million to $194 million and accounted for approximately $642 million of the total. The other 170 transactions totaled roughly $158 million, or just under $1 million per acquisition, Benard said.

The company also has an operated position following its 2025 acquisition of Lucero. Vitesse now operates approximately 60 wells in the McKenzie-Dunn area of the Williston Basin.

Longer laterals and operating scale Benard said longer horizontal laterals have become an important contributor to capital efficiency. Since 2022, the average lateral length for wells in which Vitesse participates has increased 38%. Nearly 70% of the company’s 2026 participating wells are expected to have lateral lengths of three miles or more.

Vitesse’s data indicate that median drilling and completion costs per foot decline by about 25% when comparing two-mile and four-mile laterals. Benard said longer laterals also may help reduce the company’s overall proved developed producing decline rate as they make up a larger share of its production base, potentially reducing reinvestment needs and preserving more free cash flow.

The company underwrites investments using hedgeable strip prices, well-level production and cost data, internal-rate-of-return and return-on-investment measures, payout periods, and risk-adjusted return thresholds. For larger property deals, it also evaluates net asset value per share and discounted cash flow, Benard said.

Its proprietary Luminis platform consolidates accounting, land, finance, engineering and operations data, including production, authorization-for-expenditure costs, actual costs and lifting expenses. Benard said the system enables Vitesse to evaluate wells individually and integrate assets without expanding its workforce at the same pace as its portfolio.

Vitesse has 35 employees managing roughly 7,800 wells, or about 225 wells per employee. Since 2022, production has increased while general and administrative expense per BOE has declined, Benard said.

“We absolutely intend to grow,” Benard said, while emphasizing that growth must create value, meet return thresholds and support the company’s dividend and balance-sheet objectives.

About Vitesse Energy (NYSE:VTS)Vitesse Energy NYSE: VTS is an independent exploration and production company primarily focused on onshore oil and gas assets in the United States. Headquartered in Calgary, Alberta, the company identifies, acquires and develops low-decline, shallow to intermediate depth vertical wells, targeting predictable production profiles and stable cash flows. Vitesse leverages a lean operational model to optimize well performance and reduce unit operating costs across its asset base.

The company’s core operations are concentrated in the Arkoma Basin of eastern Oklahoma and the Ark-La-Tex region, where it holds acreage positions in multiple formations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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