This high-yield stock is on track for another successful year. As the dust settles on talk of yen carry trades and market crashes, the price of oil is still above $75 a barrel. Meanwhile, market interest rates are trending lower in anticipation of a Federal Reserve rate cut. With OPEC+ extending production cuts in 2025, the bull case for oil is intact. Still, you don't necessarily need to be a raging oil bull to like buying stock in 9%-yielding Vitesse Energy (VTS -0.22%). Here's why. Vitesse Energy's divid ...

Vitesse Energy, Inc. (NYSE:VTS) Q2 2024 Earnings Conference Call August 6, 2024 11:00 AM ET Company Participants Ben Messier - Director of Investor Relations and Business Development Bob Gerrity - Chairman and Chief Executive Officer Brian Cree - President James Henderson - Chief Financial Officer Conference Call Participants Jeffrey Grampp - Alliance Global Partners Donovan Schafer - Northland Capital Markets Jeff Robertson - Water Tower Research Noel Parks - Tuohy Brothers Operator Greetings, and welcome ...

Financial Performance - Total revenue for the three months ended June 30, 2024, was $66.6 million, with a net income of $10.9 million[82]. - Total revenue increased to $66.6 million for the three months ended June 30, 2024, up from $51.6 million for the same period in 2023, representing a 29% increase[94]. - Total revenue for the six months ended June 30, 2024, was $127.8 million, a 17% increase from $109.5 million for the same period in 2023[101]. - Oil revenue rose to $121.5 million for the six months ended June 30, 2024, up 22% from $99.2 million in the prior year, while natural gas revenue decreased by 39% to $6.3 million[101]. Production and Operations - Production averaged 13,504 BOE/day, with 70% of production coming from oil[82]. - Production volumes increased by 19%, with oil production at 859 MBbls and natural gas production at 2,217 MMcf, compared to 697 MBbls and 2,018 MMcf, respectively, in the previous year[94]. - Production volumes increased by 14% to 2,371 MBoe, with oil production rising by 20% to 1,672 MBbls[101]. Commodity Prices - The average oil price for the second quarter of 2024 was $80.55 per barrel, a 9% increase compared to the same period in 2023[90]. - The average realized oil price per barrel after reflecting settled derivatives was $73.42 for Q2 2024, compared to $72.18 in Q2 2023[90]. - The average year-to-date 2024 oil price was $78.72 per barrel, a 5% increase from the 2023 average[90]. - The average NYMEX natural gas price for Q2 2024 was $2.07 per MMBtu, a 4% decrease from Q2 2023[90]. Expenses - Lease operating expenses rose to $9.99 per Boe, up from $9.01 per Boe, driven by a higher percentage of production from older wells[96]. - Interest expense surged to $2.6 million, a 132% increase from $1.1 million, due to an increase in debt from $41.0 million to $115.0 million[96]. - Depletion, depreciation, and amortization (DD&A) expenses increased to $25.3 million, up from $18.7 million, attributed to a 19% rise in production and a higher DD&A rate[96]. - General and administrative expenses decreased to $10.1 million, down 34% from $15.3 million, primarily due to costs related to a Spin-Off in 2023[103]. Cash Flow and Capital Expenditures - Cash flows from operations amounted to $35.2 million, while the company invested $37.6 million in capital development and acquisitions[82]. - Cash flows from operating activities for the six months ended June 30, 2024, were $74.6 million, a decrease of $3.7 million compared to the same period in 2023[108]. - Cash used in investing activities rose to $69.9 million in the first half of 2024, up from $43.3 million in the same period in 2023, reflecting increased development activity[108]. - Total capital expenditures for the six months ended June 30, 2024, were $69.8 million, with expectations to fund future expenditures through operational cash flow and potential borrowings[110]. Debt and Liquidity - As of June 30, 2024, total debt stood at $115.0 million[82]. - The company had net borrowings of $34.0 million under its Revolving Credit Facility during the first half of 2024, compared to net repayments of $12.0 million in the same period of 2023[108]. - The company anticipates that liquidity will be sufficient to meet material cash requirements for the next twelve months, including capital expenditures and dividends[107]. Derivative Instruments - The company recorded a commodity derivative gain of $0.4 million, a significant decrease from a gain of $4.8 million in the prior year[97]. - The company recorded a commodity derivative loss of $13.4 million for the six months ended June 30, 2024, compared to a gain of $12.2 million in the prior year[106]. - The company has no natural gas derivative contracts as of June 30, 2024, and uses commodity derivatives to mitigate price volatility[108]. Taxation - The income tax expense for the quarter was $3.7 million, down from $6.8 million in the same quarter of 2023[98]. - Income tax expense for the six months ended June 30, 2024, was $2.9 million, significantly lower than the $47.2 million recorded in the same period of 2023[106]. Shareholder Returns - The company paid a quarterly dividend of $0.525 per share to common stockholders[82]. - The company paid $31.9 million in dividends during the six months ended June 30, 2024, with future dividends subject to various factors including cash flow and contractual restrictions[110]. Legal and Compliance - The company is subject to various legal proceedings, but believes that potential losses will not materially adversely affect its financial condition[122]. - Management concluded that the disclosure controls and procedures were effective as of June 30, 2024, providing reasonable assurance regarding the accuracy of financial reporting[119]. - There were no changes in internal control over financial reporting during the second quarter of 2024 that materially affected the company's financial reporting[120].

VITESSE ENERGY ANNOUNCES SECOND QUARTER 2024 RESULTS GREENWOOD VILLAGE, Colo. – August 5, 2024 – 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 (1) • Net income of $10.9 million and Adjusted Net Income of $11.7 million • Adjusted EBITDA of $43.1 mi ...

Vitesse Energy Inc. (VTS) is set to report second-quarter 2024 earnings on Aug 5, after the closing bell. Let us delve into the factors that are anticipated to have affected this upstream energy company's performance. However, before that, it would be worth taking a look at VTS's first-quarter performance. Highlights of Q1 Earnings & Surprise History The company's adjusted earnings per share of 34 cents beat the Zacks Consensus Estimate of 32 cents in the last reported quarter. Vitesse Energy's earnings bea ...

Investor Presentation May 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") fi ...

Vitesse Energy, Inc. (NYSE:VTS) Q1 2024 Earnings Conference Call May 7, 2024 11:00 AM ET Company Participants Ben Messier - Director-Investor Relations and Business Development Bob Gerrity - Chairman and Chief Executive Officer Brian Cree - President Jimmy Henderson - Chief Financial Officer Conference Call Participants John White - ROTH Capital Partners Michael Schwartz - Jefferies Stephen Richardson - Evercore ISI Jeff Grampp - Alliance Global Partners Jeff Robertson - Water Tower Research Donovan Schafer ...

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 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-41546 Vitesse Energy, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdict ...

VITESSE ENERGY ANNOUNCES FIRST QUARTER 2024 RESULTS AND ADDITIONAL NEAR- TERM DEVELOPMENT ACQUISITIONS, RAISES 2024 GUIDANCE AND INCREASES QUARTERLY CASH DIVIDEND TO $0.525 GREENWOOD VILLAGE, Colo. – May 6, 2024 – 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 MANAGEMENT COMMENTS "Vi ...

Vitesse Energy, Inc. (NYSE:VTS) Q4 2023 Earnings Conference Call February 27, 2024 11:00 AM ET Company Participants Ben Messier - Director, Investor Relations and Business Development Bob Gerrity - Chairman and Chief Executive Officer Brian Cree - President Jimmy Henderson - Chief Financial Officer Conference Call Participants Michael Schwartz - Jefferies Chris Baker - Evercore ISI Jeff Grampp - Alliance Global Partners Donovan Schafer - Northland Capital Markets John White - ROTH Capital Partners Jeff Robe ...