Vitesse Energy, Inc. VTS
We are an independent energy company focused on returning capital to stockholders through owning interests, predominantly as a non-operator, in oil and natural gas wells. We primarily engage in the acquisition, development and production of non-operated oil and natural gas properties in the United States that are generally operated by leading oil companies and are primarily in the Williston Basin of North Dakota and Montana, and we have limited operations in the Williston Basin through the Lucero Acquisition which we closed on March 7, 2025 in an all-stock transaction. We also have non-operated properties in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. Since our inception, we have built a strong and diversified asset base through a combination of property acquisitions, development activities and the implementation of proprietary platforms and processes utilizing our extensive data resources. We believe the location and concentration of our assets in some of North America's leading unconventional oil and natural gas resource plays, along with our technical and data capabilities, provide us with acquisition and development opportunities that will result in significant long-term value. We are focused on using our cash flow to provide returns of capital to stockholders and maintain or grow our oil and natural gas production by developing our extensive inventory of drilling and completion locations and acquiring both producing wells and new development opportunities, while maintaining a strong balance sheet.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $274.0M | $242.0M | $233.9M | $281.9M | $167.8M | $97.2M | — |
| SG&A | $24.3M | $23.5M | $23.9M | $19.8M | $10.6M | $9.2M | — |
| Total operating expenses | $256.9M | $201.0M | $199.1M | $128.0M | $113.9M | $131.1M | — |
| Operating income | $17.1M | $41.0M | $34.9M | $153.9M | $53.9M | -$33.8M | — |
| Interest expense | $10.2M | $10.0M | $5.3M | $4.2M | $3.2M | $4.7M | — |
| Pre-tax income | $35.1M | $28.7M | $42.2M | $118.9M | $18.1M | — | — |
| Income tax | $9.8M | $7.7M | $61.9M | $0 | $0 | — | — |
| Net income | $25.3M | $21.1M | -$19.7M | $118.9M | $18.1M | -$8.9M | — |
| EPS, basic | 0.67 | 0.70 | -0.73 | 0.26 | 0.04 | -0.02 | — |
| EPS, diluted | 0.64 | 0.64 | -0.73 | 0.26 | 0.04 | -0.02 | — |
| Shares, diluted (wtd. avg.) | $39.6M | $32.9M | $29.6M | $438.6M | $438.6M | $438.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.3M | $3.0M | $552.0K | $10.0M | $5.4M | $1.7M | $1.8M |
| Receivables | $30.6M | $39.8M | $44.9M | $41.4M | $32.0M | — | — |
| Total current assets | $52.2M | $50.9M | $58.3M | $54.4M | $36.4M | — | — |
| Property, plant and equipment | $123.0K | $182.0K | $189.0K | $114.0K | $223.0K | — | — |
| Total assets | $893.4M | $810.9M | $766.0M | $660.5M | $614.1M | — | — |
| Accounts payable | $11.8M | $34.3M | $27.7M | $7.2M | $4.6M | — | — |
| Total current liabilities | $51.3M | $100.3M | $60.4M | $36.7M | $32.2M | — | — |
| Total liabilities | $264.0M | $310.6M | $219.6M | $91.5M | $114.9M | — | — |
| Retained earnings | -$2.0M | -$5.1M | -$21.6M | — | — | — | — |
| Total equity | $629.3M | $500.3M | $546.4M | $564.4M | $480.1M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $170.3M | $155.0M | $141.9M | $147.0M | $87.0M | $76.3M | — |
| Stock-based compensation | $10.2M | $8.1M | $32.2M | -$10.8M | $1.4M | -$544.0K | — |
| Investing cash flow | -$127.7M | -$115.3M | -$120.7M | -$84.6M | -$43.3M | -$70.8M | — |
| Financing cash flow | -$44.3M | -$37.3M | -$30.7M | -$57.8M | -$42.6M | -$5.5M | — |
| Dividends paid | $92.1M | $63.6M | $58.0M | $36.0M | $12.0M | — | — |
| Buybacks | $0 | $0 | $248.0K | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001944558-26-000009.
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