Vitesse Energy Q2 net income $9.6M, Adjusted EBITDA $34.8M; declares $0.50 dividend

Vitesse Energy, Inc.

2023-Q2 EPS reported -$1.35 revenue$109,549,000

Net income of $9.6M, Adjusted Net Income of $11.4M.
Adjusted EBITDA $34.8M; cash flow from operations $39.0M, Free Cash Flow $16.1M.
Production 11,359 Boe/d (67% oil); total cash capex $20.5M ($17.4M drilling/completion).
Total debt $41.0M at June 30, down from $45.0M at March 31 and $53.0M at spin-off.
Declared Q3 dividend $0.50/share, payable Sept 29, 2023; intends $0.50 quarterly.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vitesse Energy, Inc. reported the quarter ended June 30, 2023 results: net income $9.6 million.

Period: the quarter ended June 30, 2023
Net income: $9.6 million
Result: reported results

Exact text from the filing

HIGHLIGHTS • Net income of $9.6 million and $11.4 million of Adjusted Net Income (1) • Adjusted EBITDA (1) of $34.8 million • Cash flow from operations of $39.0 million and Free Cash Flow (1) of $16.1 million • Production of 11,359 barrels of oil equivalent (“Boe”) per day (67% oil) • Total cash capital expenditures of $20.5 million, of which $17.4 million were related to drilling and completion costs • As previously announced, declared our third quarter cash dividend of $0.50 per common share to be paid on September 29, 2023 • Total debt of $41.0 million as of June 30, 2023, a decrease from $45.0 million on March 31, 2023 and from $53.0 million at the time of the spin-off from Jefferies Financial Group Inc.

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Source: SEC EDGAR

accession 0001944558-23-000052

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