Financial Performance - Vitesse reported a full year 2024 net income of $21.1 million and adjusted net income of $35.7 million, with adjusted EBITDA of $156.8 million[4]. - Total revenue for 2024 was $241.998 million, a 3% increase from 2023, driven by a 5% increase in oil revenue[21]. - Operating income for 2024 was $40.971 million, compared to $34.854 million in 2023[33]. - Net income for 2024 was $21.060 million, a recovery from a net loss of $19.744 million in 2023[33]. - Adjusted Net Income for the year ended December 31, 2024, was $35,653,000, while for the three months ended December 31, 2024, it was $6,115,000[45]. - Adjusted EBITDA for the year ended December 31, 2024, was $156,772,000, and for the three months ended December 31, 2024, it was $36,975,000[47]. - Free Cash Flow for the year ended December 31, 2024, was $51,239,000, after accounting for $94,116,000 in development of oil and gas properties[49]. Production and Reserves - Full year 2024 production averaged 13,003 barrels of oil equivalent (Boe) per day, with oil comprising 69% of total production[4][7]. - Vitesse's total proved reserves as of December 31, 2024, were 40.3 million Boe, with a Standardized Measure of $506.3 million and PV-10 value of $586.6 million[11][12]. - The company expects 2025 production to range between 17,000 - 18,000 Boe per day, a 35% increase at the midpoint from 2024 levels[18][19]. - Approximately 53% of Vitesse's 2025 oil production is hedged at a weighted average price of $71.16 per barrel, enhancing cash flow predictability[22]. Revenue Breakdown - Oil revenue increased to $230.164 million in 2024 from $218.396 million in 2023, while natural gas revenue decreased to $11.834 million from $15.509 million[33]. - Total revenue for 2024 was $241.998 million, a slight increase from $233.905 million in 2023[33]. Dividends and Shareholder Returns - The company declared a quarterly cash dividend of $0.5625 per share, representing a 7% increase from the prior quarter, and an annualized dividend rate of $2.25 per share[4][5]. Acquisition and Strategic Moves - Vitesse closed the acquisition of Lucero Energy Corp. on March 7, 2025, which is expected to be accretive to key financial metrics[4][16]. - General and administrative costs related to the Lucero acquisition amounted to $2,229,000 for both the three months and the year ended December 31, 2024[45]. Financial Position - The company had total liquidity of $121 million as of December 31, 2024, consisting of cash and available borrowing under its revolving credit facility[14]. - Net Debt as of December 31, 2024, was $114,033,000, with a Net Debt to Adjusted EBITDA ratio of 0.73[47]. - Total assets increased to $810.893 million in 2024 from $765.970 million in 2023[37]. - Current liabilities rose to $100.329 million in 2024 from $60.403 million in 2023[37]. Market Engagement - The company plans to participate in the Roth Conference in March 2025, indicating ongoing engagement with investors[27]. Derivative Instruments - Realized gain on commodity derivatives for 2024 was $5.065 million, up from $1.166 million in 2023, while unrealized loss was $7.413 million compared to a gain of $11.318 million in 2023[24]. - The company incurred $10,106,000 in unrealized losses on derivative instruments for the three months ended December 31, 2024[45]. - The average price for crude oil swaps in Q1 2025 is projected at $72.55 per barrel, with a total of 526,500 barrels[23]. Taxation - The company adjusted its income tax expense using a statutory tax rate of 23.3% for the calculation of Adjusted Net Income[45].

Core Viewpoint - Vitesse Energy, Inc. has completed a $222 million all-stock acquisition of Lucero Energy, enhancing its position in the Bakken shale region and becoming an oil-weighted company with both operated and non-operated assets [1][3]. Deal Details - The acquisition was valued at $222 million, with Lucero shareholders receiving 0.01239 of a share of Vitesse common stock for each common share of Lucero [3]. - Lucero contributes approximately 6,400 barrels of oil equivalent per day (boe/d) of net production and valuable drilling opportunities to Vitesse [4]. - Vitesse gains access to two drilled, uncompleted wells and up to 50 additional drilling locations in the Bakken shale core [5]. Financial Impact - The acquisition is expected to provide accretive benefits in earnings, operating cash flow, free cash flow, and net asset value, along with an increase in Vitesse's dividend [4]. - Vitesse anticipates generating approximately $3 million in annual administrative synergies from the acquisition [6]. Leadership Changes - Two members from Lucero's board have joined Vitesse's board, expanding it to nine directors, while the leadership team remains unchanged to ensure operational continuity [6].

Company Overview - Vitesse Energy (VTS) is expected to report a year-over-year decline in earnings, with a projected EPS of $0.26, reflecting a decrease of 50% compared to the previous year [3]. - Revenues are anticipated to be $59.27 million, down 14.5% from the same quarter last year [3]. Earnings Expectations - The consensus EPS estimate has been revised 5.13% higher in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Vitesse is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -19.23%, suggesting a bearish outlook on earnings prospects [10][11]. Historical Performance - In the last reported quarter, Vitesse was expected to post earnings of $0.41 per share but only achieved $0.24, resulting in a surprise of -41.46% [12]. - Over the past four quarters, Vitesse has only beaten consensus EPS estimates once [13]. Market Sentiment - The stock may experience upward movement if the actual results exceed expectations in the upcoming earnings report, scheduled for March 11 [2]. - Conversely, if the results fall short, the stock may decline [2]. Industry Context - HighPeak Energy, another player in the Oil and Gas - Exploration and Production sector, is expected to report earnings of $0.13 per share, reflecting a year-over-year decline of 80.3% [17]. - HighPeak's revenues are projected to be $246.92 million, down 18% from the previous year [17]. Analyst Insights - A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank of 1, 2, or 3 [8]. - However, Vitesse's current Zacks Rank is 2, which, combined with a negative Earnings ESP, complicates the prediction of an earnings beat [11].

Core Insights - Vitesse Energy, Inc. (VTS) has announced an all-stock transaction to acquire Lucero Energy for $222 million, expected to close in Q2 2025 pending approvals [1] - The acquisition will enhance VTS's production capacity by adding 6.4 Mboe per day, increasing total production to 19.4 Mboe per day [2] - Vitesse anticipates immediate benefits in earnings, cash flow, and net asset value post-acquisition, alongside a planned increase in dividends from $2.10 to $2.25 per share [7] Acquisition Details - The deal involves Vitesse acquiring over 65 producing wells from Lucero Energy [1] - Shareholders of Lucero will receive 0.01239 shares of Vitesse common stock for each share they hold [6] - The acquisition is expected to create a unique oil-weighted company with assets primarily in the Williston Basin, known for lower production declines and strong capital efficiencies [12] Financial Implications - Vitesse expects to achieve annual synergies of approximately $3 million in general and administrative costs following the acquisition [11] - Lucero's strong balance sheet, featuring $56 million in cash and no debt, aligns with Vitesse's strategy to reduce borrowings and enhance dividend payouts [7] Governance and Management - Two members from Lucero's board will join Vitesse's nine-member board to ensure continuity and collaboration, while Vitesse will maintain its current executive leadership [15]

Group 1 - Monteverde & Associates PC is investigating Vitesse Energy, Inc. regarding its proposed merger with Lucero Energy Corp, where Vitesse stockholders are expected to own approximately 80% of the combined company and Lucero shareholders 20% [1] - Monteverde & Associates PC has a successful track record in recovering millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report [1][3] - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [3][4] Group 2 - The firm encourages shareholders with concerns about the merger to seek additional information free of charge [4] - Contact information for Juan Monteverde, Esq. is provided for shareholders who wish to inquire further [4]

Core Viewpoint - Vitesse Energy offers a 7.5% yield, with a business model that mitigates risks associated with oil and gas price fluctuations, making it less risky than its dividend yield suggests [1][10]. Investment Case - The market often assigns high yields to stocks due to doubts about dividend sustainability, particularly if oil prices collapse. However, Vitesse can withstand price fluctuations between $70 and $30 per barrel [2][3]. - For income-seeking investors who believe oil prices will remain stable, Vitesse is considered an excellent investment opportunity [3]. Business Model - Vitesse does not own or operate assets but takes minority working interests in wells operated by leading oil and gas companies, focusing primarily on the Bakken region [4][5]. - The company has interests in 7,126 productive wells with an average working interest of 2.7%, and it has historically participated in 30%-55% of rigs drilling in the Bakken [5][6]. Risk Diversification - The strategy of investing in multiple wells reduces risk, as the operators handle the marketing, selling, and transporting of oil and gas, allowing Vitesse's management to focus on value creation [6]. Hedging Strategy - Vitesse employs a hedging strategy to mitigate exposure to oil price volatility, with 63% of its oil production hedged in the third quarter [7][8]. - The hedging strategy has shown to lower the realized price in 2022 but increased it in 2023 and continues to do so in 2024 [8]. - For 2025, 43% of expected oil production is hedged at $73.21 per barrel, providing downside protection against falling oil prices [9]. Conclusion on Investment - While Vitesse carries some risk, its diversified business model and effective hedging strategy reduce reliance on energy prices, making its 7.5% dividend yield attractive for investors comfortable with historical oil price ranges [10].

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $37.6 million and adjusted net income of $7.6 million for Q3 2024, while GAAP net income was $17.4 million [15] - Cash CapEx and acquisition costs totaled $17.2 million for the quarter, with a year-to-date total of $87 million, leading to a revised annual CapEx guidance of $110 million to $120 million [16] - Operating cash flow net of working capital changes was $35.1 million, which covered the dividend and CapEx, allowing for a $10 million debt reduction [17] Business Line Data and Key Metrics Changes - Production averaged 13,009 barrels of oil equivalent (BOE) per day in Q3 2024, with a year-to-date production of 13,023 BOE per day [12] - The company had 20.2 net wells in its development pipeline, with 11.3 wells being drilled and completed as of September 30 [13] Market Data and Key Metrics Changes - The company hedged 54% of its remaining 2024 oil production at above $78 per barrel and 43% of its 2025 production at above $73 per barrel [14] Company Strategy and Development Direction - The company continues its return of capital strategy, having paid a dividend of $0.525 per share in September and declaring another for December [8] - The company reduced CapEx by 18% while maintaining production guidance, indicating a focus on capital efficiency [10] - The company is opportunistic in its capital allocation, flexibly adjusting CapEx to meet return hurdles [9] Management's Comments on Operating Environment and Future Outlook - Management noted that lower oil prices create more attractive near-term opportunities for acquisitions, while also emphasizing the high return from organic drilling [26] - The company expects a 7% production growth in 2025 with a CapEx of $105 million to $120 million [19] Other Important Information - The company amended its credit facility, extending the maturity date and reaffirming the borrowing base at $245 million, while reducing elected commitments to $235 million [18] Q&A Session Summary Question: CapEx dynamics and activity levels - Management explained that lower CapEx in Q3 was due to the timing of wells coming online, which were pushed to Q4 and early 2025 [22] Question: Organic CapEx visibility and trends - Management indicated that AFEs received in 2024 are nearly double those in 2023, allowing for more capital allocation to higher return opportunities [24] Question: Impact of wildfires in North Dakota - Management confirmed that wildfires did not significantly impact production volumes, attributing any production adjustments to well timing [29] Question: Trends in costs embedded in AFEs - Management noted that AFEs remained consistent, with expectations for drilling costs to decrease due to lower oil prices [30]

Investor Presentation November 2024 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 presentation regarding Vitesse Energy, Inc.'s ("Vitesse ...

Company Performance - Vitesse Energy reported quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.41 per share, and down from $0.38 per share a year ago, representing an earnings surprise of -41.46% [1] - The company posted revenues of $58.28 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 12.94%, compared to year-ago revenues of $55.05 million [2] - Over the last four quarters, Vitesse has surpassed consensus EPS estimates just once, while it has topped consensus revenue estimates three times [2] Stock Performance - Vitesse shares have increased by approximately 12.8% since the beginning of the year, while the S&P 500 has gained 20.1% [3] - The current consensus EPS estimate for the coming quarter is $0.50 on revenues of $72.79 million, and for the current fiscal year, it is $1.42 on revenues of $267.58 million [7] Industry Outlook - The Oil and Gas - Exploration and Production - United States industry is currently in the bottom 18% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the outlook for the industry can significantly impact stock performance [5][8]

Core Viewpoint - Vitesse Energy is focused on generating strong free cash flow and returning it to investors, making it an attractive option for income-focused investors with an 8.5% forward dividend yield [1]. Company Overview - Vitesse Energy owns non-operating interests in oil and natural gas wells, differentiating itself from other companies in the energy value chain [2]. - The company's business plan emphasizes building a diversified, low-leverage, free cash flow generating business to deliver meaningful dividends to stockholders [2]. Dividend Distribution - After its spinoff from Jefferies Financial Group in January 2023, Vitesse Energy returned $58 million in dividends for 2023, distributing $0.50 per share quarterly [2]. - For the first quarter of 2024, Vitesse declared another dividend of $0.50 per share and subsequently increased the distribution by 5% to $0.525 per share for the second and third quarters [3]. - If the dividend payout remains steady, Vitesse Energy will return $2.10 per share annually [3]. Investment Considerations - To generate $1,000 in passive income in a year, an investor would need to own 476.2 shares of Vitesse Energy [3]. - Despite its focus on free cash flow and shareholder returns, Vitesse Energy's short operating history post-spinoff introduces a higher degree of risk [4]. - The company has struggled to generate adequate free cash flow to support its dividend payments over the past year, which may deter conservative investors [5].