Core Viewpoint - The market has shown declining interest in oil stocks over the past year, with Devon Energy, Diamondback Energy, and Vitesse Energy experiencing stock price declines, yet they now offer attractive dividend yields and price-to-free cash flow multiples [1]. Group 1: Market Sentiment and Oil Prices - The oil price environment has been volatile, particularly following geopolitical events such as Israel's attack on Iran, which caused a spike in oil prices [3]. - Prior to this spike, oil prices were trading in the low-to-mid $60 per barrel range, with negative sentiment driven by slower economic growth and OPEC's decision to increase production [5]. - The negative sentiment towards oil intensified after spring events, prompting companies to adjust their capital expenditures [7]. Group 2: Company Responses to Market Conditions - Vitesse Energy implemented a 32% cut in planned capital expenditures to preserve returns and maintain financial flexibility amid commodity price volatility [7]. - Diamondback Energy reduced its planned capital expenditures for 2025 from a range of $3.8 billion to $4.2 billion down to $3.4 billion to $3.8 billion [7]. - Devon Energy has not made specific adjustments but is monitoring the macro environment and retains flexibility in its capital programs [8]. Group 3: Hedging Strategies - Following the recent oil price spike, there was a significant increase in hedging activities among oil companies, with independent oil companies likely taking advantage of the price surge [9]. - All three companies have integrated hedging into their capital allocation strategies to ensure returns to investors through dividends and share buybacks [11]. - Vitesse had 61% of its remaining oil production hedged at an average price of $70.75 per barrel as of March [13]. - Diamondback has downside protection in place at $55 per barrel, allowing for upside exposure above this price [14]. - Devon Energy had over 25% of its expected 2025 oil production hedged, projecting significant free cash flow at various oil price levels [16]. Group 4: Dividend Security and Investment Opportunities - Diamondback and Devon Energy's dividends appear secure, with potential for increased discretionary dividends, share buybacks, or debt repayment [18]. - The hedging strategies employed by these companies enhance the security of their dividend payouts, providing passive income investors with confidence in their investments [18].

Vitesse (VTS) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Ben Messier - Director - IR & Business DevelopmentBob Gerrity - Chairman & CEOBrian Cree - PresidentJames Henderson - Chief Financial OfficerEmma Schwartz - Energy Equity Research Senior AssociateNoel Parks - Managing Director - Energy Research Conference Call Participants Jeff Grampp - Managing Director - Senior Research AnalystPoe Fratt - Equity Research Analyst - Transportation Operator Greetings, and welcome to the VITAS E ...

Vitesse (VTS) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Speaker0 Greetings, and welcome to the VITAS Energy's First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. Please note this conference is being recorded. I would now like to turn the conference over to the Director, Investor Relations and Business Development at VITAS, Ben Messier. Thank you. You may begin. Speaker1 Good morning ...

Vitesse is the French word for velocity. VTS represents the velocity of capital compounding. Investor Presentation May 2025 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 presentation regarding Vitesse Energy, Inc.'s ("Vitesse") financial pos ...

For the quarter ended March 2025, Vitesse Energy (VTS) reported revenue of $66.17 million, up 8.1% over the same period last year. EPS came in at $0.23, compared to $0.34 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $65.06 million, representing a surprise of +1.71%. The company delivered an EPS surprise of +155.56%, with the consensus EPS estimate being $0.09.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ho ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) 5619 DTC Parkway, Suite 700 Greenwood Village, Colorado 80111 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commissio ...

VITESSE ENERGY ANNOUNCES FIRST QUARTER 2025 RESULTS AND REVISED 2025 GUIDANCE GREENWOOD VILLAGE, Colo. – May 5, 2025 – Vitesse Energy, Inc. (NYSE: VTS) ("we," "our," "Vitesse," or the "Company") today reported the Company's first quarter 2025 financial and operating results and revised 2025 guidance. FIRST QUARTER 2025 HIGHLIGHTS Non-GAAP financial measure; see reconciliation schedules at the end of this release (1) MANAGEMENT COMMENTS "In the first quarter, we delivered a 7% dividend increase and successfu ...

Vitesse Energy (VTS) shares soared 7.1% in the last trading session to close at $24.51. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13% loss over the past four weeks.VTS's recent share jump can be attributed to oil market stability despite geopolitical tensions. While President Trump’s new tariffs on Venezuelan oil buyers create uncertainty, the potential for tighter supply from U.S. sanctions on Venezuela and Iran supports b ...

Vitesse Energy (NYSE: VTS ) recently announced the acquisition of Lucero Energy which is adding an operating component to its strategy, doing so in an all stock transaction that settles down leverage but also allows for a reasonableThey lead the investing group The Value Lab where they offer members a portfolio with real time updates, chat to answer questions 24/7, regular global market news reports, feedback on member stock ideas, new trades monthly, quarterly earnings write-ups, and daily macro opinions.T ...

Production and Reserves - As of December 31, 2024, the company had an average daily production of 13,003 Boe, with proved reserves of 40,283 MBoe, of which 68% is oil[36]. - Estimated proved reserves in the Williston Basin were 38,469 MBoe, contributing to an average production of 12,341 Boe per day for the year ended December 31, 2024[43]. - As of December 31, 2024, estimated total proved reserves amounted to 40,283 MBoe, a slight decrease from 40,595 MBoe in 2023[48]. - The percentage of proved developed reserves decreased to 67.6% in 2024 from 70.1% in 2023[48]. - Estimated net proved undeveloped reserves increased to 13,038 MBoe in 2024, up from 12,121 MBoe in 2023, primarily due to extensions and discoveries adding 5,543 MBoe[51]. - The PV-10 value of total proved reserves was approximately $586,590,000, with 66% of this value supported by producing wells[50]. - Acquisitions in 2024 added 809 MBoe of proved undeveloped reserves in the Williston Basin and Central Rockies[55]. - Development costs of approximately $63 million were incurred for the conversion of 3,409 MBoe of proved undeveloped reserves to proved developed reserves[55]. - Revisions in 2024 resulted in a net decrease of 2,026 MBoe in proved undeveloped reserves, primarily due to reclassification based on updated drilling plans[55]. - The company expects to convert remaining proved undeveloped reserves to proved developed producing reserves within five years[52]. - Approximately 32% of the estimated net proved reserves volumes were classified as proved undeveloped as of December 31, 2024[165]. Financial Performance and Dividends - The company distributed cash to stockholders totaling $63.6 million, $58.0 million, and $36.0 million for the years ended December 31, 2024, 2023, and 2022, respectively[38]. - The company’s ability to pay dividends may be limited by its indebtedness and requirements under its Revolving Credit Facility[121]. - The company’s ability to pay dividends is restricted by requirements under its Revolving Credit Facility, which may limit future distributions[205]. - The company may face challenges in paying dividends due to its indebtedness and the discretion of its Board of Directors[128]. - The company may not generate enough cash flow to meet its debt obligations or pay dividends due to the cyclical nature of its industry[202]. Acquisitions and Strategy - The company has closed approximately 170 discrete acquisitions totaling over $570 million since its inception in 2014, focusing on smaller non-operated lease and wellbore positions[40]. - The company’s business strategy includes a focus on long-term stockholder value through the acquisition, development, and production of oil and natural gas assets[38]. - The company’s management team has established a systematic approach to evaluating acquisition and development opportunities, enhancing its competitive strengths[40]. - The company’s acquisition strategy involves risks associated with evaluating properties with limited information, which could impact financial results[116]. - The company’s acquisition strategy includes risks associated with evaluating properties with limited information, such as the Lucero Acquisition[166]. Production Costs and Pricing - Average sales price for oil decreased to $69.94 per Bbl in 2024, down 5.4% from $73.59 per Bbl in 2023[63]. - Average sales price for natural gas fell to $1.34 per Mcf in 2024, a decline of 28.7% from $1.88 per Mcf in 2023[63]. - Lease operating expense per Boe increased to $10.00 in 2024, up 9.8% from $9.11 in 2023[63]. - The company hedged approximately 2.3 million barrels of oil in 2025 at an average price of $71.16 per Bbl and 0.9 million barrels in 2026 at an average price of $66.95 per Bbl[40]. Regulatory and Environmental Risks - The company is subject to extensive and changing federal, state, and local laws and regulations related to environmental protection, which may increase operating costs and impact financial condition[92]. - The recent final rules under the Clean Air Act (CAA) impose stricter methane emission controls, requiring a reduction of emissions by 95% through capture and control systems[95]. - The company is in substantial compliance with current environmental laws and regulations, with no known material commitments for capital expenditures to comply with existing requirements[92]. - The company may face increased costs and operational impacts due to potential changes in the definition of Waters of the United States (WOTUS) under the Clean Water Act (CWA)[97]. - The company must develop and maintain facility response plans for oil spills, which imposes certain duties and liabilities under the Oil Pollution Act (OPA)[98]. - The company’s hydraulic fracturing operations may face increased regulatory scrutiny and potential costs if federal permitting is required in the future[100]. - Environmental regulations and compliance requirements could increase operational costs and impact the company's ability to conduct business effectively[144]. - Increased regulatory scrutiny on emissions has led to heightened litigation risks for fossil fuel companies, which could affect the company's financial condition[235]. Operational Challenges - The company acknowledges the cyclical nature of the oil and natural gas industry, which affects capital expenditures and production levels[71]. - The company faces risks related to volatile oil and natural gas prices, which have historically affected its financial position and results of operations[116]. - The company’s operations are concentrated in the Williston Basin, making it vulnerable to regional events affecting oil and natural gas prices[175]. - The company’s drilling activities are subject to high risks, including the potential for uneconomical operations and external geopolitical factors[141]. - The company may face challenges in acquiring or developing additional reserves, which are crucial for future production and success[152]. - Seasonal weather conditions can limit drilling and completion activities, particularly in the Williston Basin during winter months[157]. - The ongoing litigation regarding the Dakota Access Pipeline (DAPL) poses a risk to its continued operation, which could adversely affect the company's business[156]. Human Resources and Corporate Structure - The company had 33 full-time employees as of December 31, 2024, with plans to hire additional personnel as needed[109]. - The company is focused on attracting and retaining top talent, providing a welcoming and inclusive environment, and offering excellent training and career development opportunities[109]. - The company’s principal executive offices are located in Greenwood Village, CO, occupying approximately 22,000 square feet of leased space, which is deemed sufficient for current and future growth[111]. Financial Risks and Debt - The company is exposed to interest rate risk due to variable rate indebtedness, which could significantly increase debt service obligations[121]. - The company’s Revolving Credit Facility is collateralized by perfected liens and security interests on substantially all of its assets, exposing it to foreclosure risks in case of default[201]. - A significant reduction in the borrowing base under the Revolving Credit Facility could negatively impact liquidity and financial results[198]. - The Revolving Credit Facility contains restrictive covenants that may limit the company's business and financing activities[199]. - The company’s future cash flows may be insufficient to meet debt obligations due to various economic and competitive factors beyond its control[202]. Market and Competitive Environment - The company faces intense competition in acquiring assets and accessing capital, which could adversely affect its operations[179]. - The company anticipates fluctuations in its business and financial condition due to competition in the oil and natural gas industry and the success or failure of its business strategies[125]. - Geopolitical tensions, including conflicts in Ukraine and the Middle East, have led to significant volatility in oil and natural gas prices[182]. - Negative investor sentiment towards the oil and natural gas industry may lead to reduced capital funding for development projects[191]. Miscellaneous - The company is classified as an "emerging growth company" and may take advantage of certain exemptions from reporting requirements, which could lead to a less active trading market for its common stock[124]. - The company has experienced net losses in the past due to fluctuations in oil and gas prices, which may recur in the future[147]. - The present value of future net cash flows from proved reserves is not necessarily the same as the current market value, influenced by various factors including pricing and operating costs[154]. - The company relies on third-party transportation and processing facilities, and any lack of capacity could lead to increased costs and production delays[155]. - The integration of acquired assets may not yield anticipated benefits, and the company may face unknown liabilities from such acquisitions[172].