Vitesse Energy to Acquire Lucero Energy in Accretive All-Stock Transaction Supporting Increase to Vitesse’s Dividend
Vitesse Energy, Inc. (VTS)
Company Research
Source: Business Wire
HIGHLIGHTSFollowing closing, acquisition of Lucero is expected to be immediately accretive to Vitesse’s earnings, operating cash flow, free cash flow and net asset valueSubject to board approval and closing the transaction, Vitesse expects to increase its cash dividend from $2.10 to $2.25 per share on an annualized basisUpon closing, this acquisition strengthens Vitesse’s financial position with expected near-term Net Debt to Adjusted EBITDA ratio of ~0.3xThe acquisition of Lucero provides Vitesse with an operational component to its strategy, as Lucero currently operates more than 65 producing wellsLucero operations provide flexibility in future capital spending with 2 gross (1.9 net) drilled uncompleted wells and up to 50 gross (25 net) locations in the core of the BakkenVitesse is hedging a significant portion of the acquired oil production through the end of 2026After giving effect to the transaction, Vitesse would have had two-stream production of approximately 19.4 Mboe/d during
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VTS
News
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates VTS and HURA on Behalf of ShareholdersGlobeNewswire
- Kuehn Law Encourages VOXX, CARA, VTS, and HURA Investors to Contact Law FirmGlobeNewswire
- Vitesse Energy, Inc. (NYSE: VTS) was upgraded by analysts at Alliance Global Partners from a "neutral" rating to a "buy" rating. They now have a $29.00 price target on the stock.MarketBeat
- $HAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Vitesse Energy, Inc. - VTSPR Newswire
- VTS Stock Alert: Halper Sadeh LLC is Investigating Whether the Merger of Vitesse Energy, Inc. Is Fair to ShareholdersBusiness Wire
VTS
Earnings
- 11/4/24 - Beat
VTS
Sec Filings
- 12/19/24 - Form DEFA14A
- 12/19/24 - Form 8-K
- 12/18/24 - Form 4
- VTS's page on the SEC website