Vitesse Energy, Inc. ( (VTS) ) has shared an update.
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Vitesse Energy, Inc. announced an amendment to its Credit Agreement, extending the maturity date and reaffirming its borrowing base at $245 million, while adjusting its commitment amount and reducing rates for loans. Additionally, Vitesse entered into an all-stock acquisition agreement to acquire Lucero Energy Corp., valued at US$222 million, to expand its asset base and operational scale in the Bakken region. This transaction is expected to be immediately accretive to Vitesse’s financial metrics and support an increase in its annual dividend. The acquisition will also enhance Vitesse’s operational flexibility and financial position, with Lucero’s cash reserves aiding in debt reduction. Shareholder approval and regulatory clearances are pending, with the transaction anticipated to close by the second quarter of 2025.
More about Vitesse Energy, Inc.
Vitesse Energy, Inc. operates in the energy sector, focusing primarily on oil and gas production. The company is known for its strategic operations in the core of the Bakken region and emphasizes a mix of operated and non-operated assets to enhance its financial performance and shareholder value.
YTD Price Performance: 32.23%
Average Trading Volume: 161,967
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $801.5M
Learn more about VTS stock on TipRanks’ Stock Analysis page.
