Vitesse Energy Announces Leadership Transition, With Jamie Benard to Join as President and Chief Executive Officer Mar 26, 2026 4:06 PM Eastern Daylight Time Vitesse Energy Announces Leadership Transition, With Jamie Benard to Join as President and Chief Executive Officer Share GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Vitesse Energy, Inc. (NYSE: VTS) ("Vitesse,†"we,†or the "Company†) today announced that its Board of Directors has appointed Jamie Benard as President and Chief Executive Officer, effect ...

Shares in Vitesse Energy (NYSE: VTS) were down by 6.6% at 12:30 a.m. today, only to recover a little later in the afternoon. The move comes as the price of oil corrected in light of President Trump's commentary on a constructive dialogue with the regime in Iran. While Iran has denied that any negotiations have taken place, investors are pricing in a more favorable outcome to the conflict, and one that could take the pressure off of oil supplies. Vitesse Energy's business model offers some protection As an ...

Core Insights - The article discusses the impact of recent market trends on investment opportunities and risks in the financial sector [1] Group 1: Market Trends - Recent fluctuations in interest rates have led to increased volatility in equity markets, affecting investor sentiment [1] - The technology sector has shown resilience, with several companies reporting strong earnings despite broader market challenges [1] Group 2: Investment Opportunities - Companies focusing on renewable energy are gaining traction, with significant investments flowing into this sector [1] - Mergers and acquisitions activity is expected to rise as companies seek to consolidate and enhance their market positions [1] Group 3: Financial Performance - Several major banks reported a decline in net income due to increased provisions for loan losses, reflecting a cautious outlook [1] - The overall financial performance of the sector remains mixed, with some firms outperforming while others struggle [1]

Core Insights - Vitesse Energy, Inc. (NYSE:VTS) is recognized as one of the top oil stocks with significant upside potential [1] Financial Performance - Vitesse Energy reported fiscal Q4 and full-year 2025 results on March 2, with a net income of $25.3 million and adjusted net income of $30.4 million, alongside an adjusted EBITDA of $179.3 million [3] - The company’s oil and natural gas production averaged 17,444 Boe per day, marking a sequential growth of 34% from the full year 2024, with oil accounting for 65% of production and 89% of total revenue [4] - Total revenue, including the effects of realized hedges, reached $291.1 million [4] Strategic Moves - Vitesse Energy announced a definitive agreement to acquire non-operated assets in the Powder River Basin of Wyoming for $35 million in common stock, effective January 1, 2026 [3] Analyst Ratings - Northland reduced the price target for Vitesse Energy from $20 to $19 while maintaining a Market Perform rating, citing that the company's fiscal Q4 results fell below expectations and provided lower CapEx guidance for 2026, which enhances dividend coverage [2][8]

分组1 - The article discusses Vitesse Energy (VTS) and highlights a significant discrepancy in its fair value, emphasizing solid cash flow, inventory, and financials [1] - The need for a dividend cut is reiterated to align with the company's financial health [1] - The author has over a decade of experience researching various industries, including commodities and technology, and has transitioned to a value investing-focused YouTube channel [1] 分组2 - The author expresses a preference for covering metals and mining stocks but is also comfortable with other sectors such as consumer discretionary/staples, REITs, and utilities [1]

Financial Data and Key Metrics Changes - In 2025, the company returned $2.25 per share to shareholders, totaling $6.325 per share since the spin-off in January 2023 [4] - Adjusted EBITDA for the year was $179.3 million, with adjusted net income at $30.4 million and GAAP net income at $25.3 million [10] - Free cash flow for the year was $48.9 million after development capital expenditures of $121 million [10] - Total debt at year-end was $124.5 million, resulting in a net debt to Adjusted EBITDA ratio of 0.69x [11] Business Line Data and Key Metrics Changes - Production for the quarter averaged 17,653 barrels of oil equivalent (BOE) per day, with annual production at 17,444 BOE per day [7] - Total proved reserves increased by 19% year-over-year to 47.8 million BOE, primarily due to the Lucero acquisition [7][8] - The company has 22 net wells in its development pipeline, with 6.1 net wells currently being drilled or completed [7] Market Data and Key Metrics Changes - Approximately 64% of 2026 oil production is hedged through swaps and collars, with a weighted average fixed price of $64.95 per barrel for swaps [8] - For natural gas, nearly half of 2026 production is hedged with collars at a weighted average floor of $3.73 and a ceiling of $4.91 per MMBtu [8] Company Strategy and Development Direction - The company aims to maintain a conservative balance sheet while returning capital to shareholders across commodity cycles [4] - A definitive agreement was signed to acquire non-operated assets in the Powder River Basin for $35 million in Vitesse shares, expected to close in Q2 2026 [4][5] - The company is focused on capital-efficient drilling programs and is evaluating additional near-term development acquisitions [12] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for 2026, emphasizing the need for a conservative approach to capital spending due to market volatility [18] - The company is optimistic about the potential for increased development activity in the Bakken region, contingent on operator decisions [21] - Management highlighted the competitive landscape for acquisitions, noting a disciplined approach to M&A opportunities [19] Other Important Information - The first quarter dividend for 2026 was declared at an annual rate of $1.75 per share, with expectations for the majority of dividends to be treated as a return of capital for tax purposes [5] - The company has layered on hedges in response to geopolitical events, aiming to protect cash flow and reduce share price volatility [8][30] Q&A Session Summary Question: Can you walk through the updated decision tree regarding the dividend and capital? - Management explained that the decision to lower the dividend was made to preserve the balance sheet, which is a priority for the company [16] Question: What are the top variables affecting production guidance? - Management indicated that guidance is heavily influenced by operator activity and rig counts in the Bakken region [21] Question: What is the anticipated activity on the newly acquired Powder River Basin acreage? - The company expects flat production from the acquired assets with a maintenance CapEx of $4 million-$6 million per year [27] Question: Are sellers increasingly willing to accept stock in transactions? - Management noted that they see both cash-focused and stock-focused sellers, with the recent transaction being an all-stock deal due to the seller's confidence in the company's stock value [58]

Financial Data and Key Metrics Changes - In 2025, the company returned $2.25 per share to shareholders, totaling $6.325 per share since the spin-off in January 2023 [4] - Adjusted EBITDA for the year was $179.3 million, with adjusted net income at $30.4 million and GAAP net income at $25.3 million [10] - Free cash flow for the year was $48.9 million after development capital expenditures of $121 million [10] - Total debt at year-end was $124.5 million, resulting in a net debt to Adjusted EBITDA ratio of 0.69 times [11] Business Line Data and Key Metrics Changes - Production for the quarter averaged 17,653 barrels of oil equivalent (BOE) per day, with annual production at 17,444 BOE per day [7] - Total proved reserves increased by 19% year-over-year to 47.8 million BOE, primarily due to the Lucero acquisition [7][8] - The company has 22 net wells in its development pipeline, including 6.1 net wells currently being drilled or completed [7] Market Data and Key Metrics Changes - Approximately 64% of 2026 oil production is hedged through swaps and collars, with a weighted average fixed price of $64.95 per barrel for swaps [8] - For natural gas, nearly half of the 2026 production is hedged with collars at a weighted average floor of $3.73 and a ceiling of $4.91 per MMBtu [8] Company Strategy and Development Direction - The company aims to maintain a conservative balance sheet while returning capital to shareholders across commodity cycles [4] - A definitive agreement was signed to acquire non-operated assets in the Powder River Basin for $35 million in Vitesse shares, expected to close in Q2 2026 [4][5] - The company is focused on capital-efficient drilling programs and is evaluating additional near-term development acquisitions [12] Management's Comments on Operating Environment and Future Outlook - Management expressed a commitment to maintaining a conservative balance sheet and highlighted the importance of capital discipline in a competitive acquisition landscape [16][19] - The company anticipates production in the range of 16,000-17,500 BOE per day for 2026, with an oil cut of 60%-64% [11][12] - Management noted the impact of recent oil price increases on potential development activity and capital expenditures [12] Other Important Information - The first quarter dividend for 2026 was declared at an annual rate of $1.75 per share, with expectations for the majority of dividends to be classified as a return of capital for tax purposes [5] - The company has layered on hedges in response to geopolitical events, aiming to protect against volatility in share price [8][30] Q&A Session Summary Question: Can you walk through the updated decision tree regarding the dividend and capital? - Management explained that the decision to lower the dividend was made to preserve the balance sheet, emphasizing the importance of a conservative financial approach [16] Question: What are the top variables affecting production guidance? - Management indicated that guidance is heavily influenced by operator activity and rig counts, with a focus on capital efficiency [21][23] Question: What activity is anticipated on the newly acquired acreage in the Powder River Basin? - The company expects flat production from the acquired assets with a maintenance CapEx of $4 million-$6 million per year [27] Question: What is the goal for the hedging program moving forward? - The goal is to protect cash flow and reduce volatility, with plans to add more hedges depending on market conditions [30] Question: What are the economics of the new 3- and 4-mile laterals? - Management noted improved economics for 3- and 4-mile laterals compared to 2-mile laterals, with strong returns expected [39][41] Question: What is the split between organic development and near-term acquisitions in the CapEx guide? - The guidance includes minimal near-term development CapEx, reflecting a disciplined approach to acquisitions [42][44]

Financial Data and Key Metrics Changes - In 2025, the company returned $2.25 per share to shareholders, totaling $6.325 per share since the spin-off in January 2023 [4] - Adjusted EBITDA for the year was $179.3 million, with adjusted net income at $30.4 million and GAAP net income at $25.3 million [11] - Free cash flow for the year was $48.9 million after development capital expenditures of $121 million [11] - Total debt at year-end was $124.5 million, resulting in a net debt to Adjusted EBITDA ratio of 0.69 times [12] Business Line Data and Key Metrics Changes - Production for the quarter averaged 17,653 barrels of oil equivalent (BOE) per day, with annual production at 17,444 BOE per day [7] - Total proved reserves increased by 19% year-over-year to 47.8 million BOE, primarily due to the Lucero acquisition [7] - The company has approximately 64% of its oil production hedged for 2026, with a weighted average fixed price of $64.95 per barrel [9] Market Data and Key Metrics Changes - The company anticipates production in the range of 16,000-17,500 BOE per day for 2026, with an expected oil cut of 60%-64% [12] - The guidance for cash capital expenditures in 2026 is projected to be between $50 million and $80 million [12] Company Strategy and Development Direction - The company is focused on maintaining a conservative balance sheet while returning capital to shareholders across commodity cycles [4] - A definitive agreement was signed to acquire non-operated assets in the Powder River Basin for $35 million in Vitesse shares, expected to close in Q2 2026 [4][5] - The company aims to allocate capital to high-return investment opportunities while keeping its balance sheet conservative [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for increased development activity in 2026, contingent on operator spending and commodity prices [18] - The company is taking a conservative approach to capital spending in 2026 due to uncertainty in operator activity and market conditions [13] - Management highlighted the importance of maintaining a clean balance sheet and disciplined capital allocation in a competitive acquisition landscape [19] Other Important Information - The company’s 2025 dividends were classified as a return of capital for tax purposes, with expectations for the majority of 2026 dividends to be treated similarly [5] - The company has layered on hedges in response to geopolitical events, with a focus on reducing volatility in share price [9][30] Q&A Session Summary Question: Can you walk through the updated decision tree regarding the dividend and capital? - Management explained that the decision to lower the dividend was made to preserve the balance sheet, emphasizing the importance of a conservative financial strategy [16] Question: What are the top variables affecting production expectations for 2026? - Management indicated that operator activity and rig counts are significant factors, with a focus on maintaining high capital efficiency [21][22] Question: What is the anticipated activity on the newly acquired Powder River Basin acreage? - The company expects flat production from the acquired assets with a maintenance CapEx of $4 million-$6 million per year [27] Question: What is the goal for the hedging program moving forward? - The goal is to protect cash flow and reduce share price volatility, with plans to add more hedges depending on market conditions [30] Question: What is the current state of the Powder River Basin and ongoing development? - Management noted that EOG and Continental are actively working in the area, and the acquisition provides exposure to potential technological breakthroughs [52]

Investor Presentation March 2026 Vitesse is the French word for velocity. VTS represents the velocity of capital compounding. Disclaimer Forward Looking Statements This presentation 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 ...

分组1 - Vitesse Energy (VTS) reported a quarterly loss of $0.02 per share, missing the Zacks Consensus Estimate of $0.10, and compared to earnings of $0.18 per share a year ago, representing an earnings surprise of -120.00% [1] - The company posted revenues of $58.62 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 9.82%, while year-ago revenues were $55.93 million [2] - Vitesse shares have increased by approximately 0.3% since the beginning of the year, underperforming the S&P 500's gain of 0.5% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $66.2 million, and for the current fiscal year, it is $0.04 on revenues of $244 million [7] - The Zacks Industry Rank for Oil and Gas - Exploration and Production - United States is currently in the bottom 16% of over 250 Zacks industries, indicating potential challenges for the sector [8] - Another company in the same industry, Riley Exploration Permian, Inc. (REPX), is expected to report quarterly earnings of $0.83 per share, reflecting a year-over-year change of -13.5% [9]