\nVitesse Energy, Inc. (NYSE: VTS) (\u201cwe,\u201d \u201cour,\u201d \u201cVitesse,\u201d or the \u201cCompany\u201d) today announced the closing of an accretive acquisition of non-operated oil and gas assets in the Denver-Julesburg Basin.<\/p>\n
HIGHLIGHTS<\/b><\/p>\n MANAGEMENT COMMENTS<\/b><\/p>\n \n\u201cWe are pleased to announce a strategic, non-operated acquisition in the Denver-Julesburg Basin, further strengthening Vitesse’s position in one of the premier oil and gas basins in the United States. This transaction adds a high-quality, predominantly proved developed producing asset base operated by Chevron,\u201d said Jamie Benard, Vitesse\u2019s Chief Executive Officer and President. \u201cThe acquisition is expected to be immediately accretive on a per share basis to our key metrics, and is directly in line with our disciplined acquisition strategy of delivering durable, low-risk returns to our stockholders.\u201d<\/p>\n ACQUISITION DETAILS<\/b><\/p>\n \nThe initial unadjusted purchase price for the acquisitions is $26.0 million, subject to customary purchase price adjustments. The cash consideration was funded with cash on hand and borrowings under Vitesse\u2019s revolving credit facility.<\/p>\n \nThe acquired assets are located primarily in Weld County, Colorado, and are entirely operated by Chevron. Over the next twelve months following the effective date, the acquired assets are expected to produce approximately 900 Boe per day on a two-stream basis (28% oil).<\/p>\n \nIn connection with the acquisition, Vitesse has entered into commodity derivative contracts covering a significant portion of the acquired production through 2030 to support the underwritten returns.<\/p>\n \nThe acquisition closed on September 15, 2026, with an effective date of June 1, 2026.<\/p>\n ABOUT VITESSE ENERGY, INC.<\/b><\/p>\n \nVitesse Energy, Inc. is focused on returning capital to stockholders through owning financial interests predominantly as a non-operator in oil and gas wells drilled by leading U.S. operators.<\/p>\n \nMore information about Vitesse can be found at www.vitesse-vts.com<\/a>.<\/p>\n \nAn acquisition-specific slide presentation will be posted on Vitesse\u2019s website, www.vitesse-vts.com<\/a>, in the \u201cInvestor Relations\u201d section of the site, under \u201cNews & Events,\u201d sub-tab \u201cPresentations.\u201d<\/p>\n FORWARD-LOOKING STATEMENTS<\/b><\/p>\n \nThis press release 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 release regarding Vitesse\u2019s financial position, operating and financial performance, business strategy, dividend plans and practices, guidance, plans and objectives of management for future operations, and industry conditions, including estimated performance of the acquired assets, are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as \u201cestimate,\u201d \u201cproject,\u201d \u201cpredict,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201ccontinue,\u201d \u201canticipate,\u201d \u201ctarget,\u201d \u201ccould,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cseek,\u201d \u201cgoal,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cmay\u201d or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.<\/p>\n \nForward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Vitesse\u2019s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in oil and natural gas prices; the pace of drilling and completions activity on Vitesse\u2019s properties; Vitesse\u2019s ability to acquire additional development opportunities; potential acquisition transactions; integration and benefits of acquisitions, or the effects of such acquisitions on Vitesse\u2019s cash position and levels of indebtedness; the final purchase price adjustments for acquisitions; title, environmental and other defects affecting the acquired assets; the accuracy of Vitesse\u2019s estimates of production, cash flows and reserves attributable to the acquired assets; the effectiveness of hedging arrangements entered into in connection with the acquisition; changes in Vitesse\u2019s reserves estimates or the value thereof; disruptions to Vitesse\u2019s business due to acquisitions and other significant transactions; infrastructure constraints and related factors affecting Vitesse\u2019s properties; cost inflation or supply chain disruption; ongoing legal disputes over the Dakota Access Pipeline; the impact of general economic or industry conditions, nationally and\/or in the communities in which Vitesse conducts business; changes in the interest rate environment, legislation or regulatory requirements; changes in U.S. trade policy, including the imposition of and changes in tariffs and resulting consequences; conditions of the securities markets; Vitesse\u2019s ability to raise or access capital; cyber-related risks; changes in accounting principles, policies or guidelines; and financial or political instability, health-related epidemics, acts of war (including continued hostilities in the Middle East, including conflict with Iran and disruption to key maritime shipping routes in the region, the conflict in Ukraine and developments in Venezuela) or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Vitesse\u2019s operations, products and prices. Additional information concerning potential factors that could affect future results is included in the section entitled \u201cItem 1A. Risk Factors\u201d and other sections of Vitesse\u2019s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause Vitesse\u2019s actual results to differ from those set forth in the forward-looking statements.<\/p>\n \nVitesse has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Vitesse\u2019s control. Vitesse does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.<\/p>\n NON-GAAP FINANCIAL MEASURES<\/b><\/p>\n \nDisclosure regarding Free Cash Flow has been prepared by management of Vitesse. This financial measure is not defined under U.S. GAAP.<\/p>\n \nVitesse defines Free Cash Flow as cash flow from operations, adjusting for changes in operating assets and liabilities in addition to certain other items such as material general and administrative costs, less development of oil and gas properties.<\/p>\n \nManagement believes the use of this non-GAAP financial measure provides useful information to investors to gain an overall understanding of financial performance. Specifically, management believes the non-GAAP financial measure included herein provide useful information to both management and investors by excluding certain items that management believes are not indicative of Vitesse\u2019s core operating results. In addition, this non-GAAP financial measure is used by management for budgeting and forecasting as well as subsequently measuring Vitesse\u2019s performance, and management believes it is providing investors with financial measures that most closely align to its internal measurement processes.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260916249735\/en\/<\/a><\/span><\/p>\n INVESTOR AND MEDIA CONTACT KEYWORDS:<\/b> Colorado United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n\n
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Ben Messier, CFA
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Director \u2013 Investor Relations and Business Development
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(720) 532-8232
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benmessier@vitesse-vts.com<\/a><\/p>\n
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