Vitesse Energy, Inc. reported a total revenue of $67.4 million for the third quarter of 2025, marking a 16% increase from $58.3 million in the same period last year. The growth was primarily driven by a 40% increase in production volumes, which rose to 18,163 barrels of oil equivalent per day (Boe/d) from 13,009 Boe/d in the prior year. However, the company experienced a net loss of $1.3 million, compared to a net income of $17.4 million in the third quarter of 2024. This shift in profitability was attributed to a significant decrease in average realized prices for oil and natural gas, which fell by 14% and 6%, respectively, before hedging.
In the nine months ending September 30, 2025, Vitesse's total revenue reached $215.4 million, a 16% increase from $186.1 million in the same period of 2024. The increase was fueled by a 33% rise in production volumes, which was partially offset by a 13% decline in average realized prices. The company reported a net income of $26 million for the nine-month period, slightly down from $26.2 million in the previous year. The results included a one-time cash payment of $24 million from a legal settlement, which positively impacted revenue.
Strategically, Vitesse completed the acquisition of Lucero Energy Corp. on March 7, 2025, which has been integrated into its operations. This acquisition is expected to enhance Vitesse's asset base and operational capabilities. The company issued 8.17 million shares of common stock to fund the acquisition, which is anticipated to contribute positively to future earnings, although the immediate impact on earnings per share remains uncertain.
Operationally, Vitesse reported a total of 6,326 gross productive wells and 268 wells currently being drilled or completed as of September 30, 2025. The company has also maintained a strong focus on cost management, with lease operating expenses increasing to $11.05 per Boe, up from $9.71 per Boe in the previous year. The increase in costs was attributed to higher workover and transportation expenses. Despite these challenges, Vitesse's cash flows from operations improved to $132.9 million for the nine months ended September 30, 2025, compared to $120.3 million in the prior year.
Looking ahead, Vitesse Energy anticipates continued volatility in commodity prices, which could significantly impact its financial performance. The company has implemented a hedging strategy to mitigate some of this risk, covering approximately 62% of its oil volumes with financial hedges. Vitesse expects to leverage its operational efficiencies and strategic acquisitions to enhance shareholder value while navigating the challenges posed by fluctuating market conditions.
About Vitesse Energy, Inc.
Vitesse Energy is an independent oil and natural gas company focused on acquiring, developing, and producing non-operated properties in the U.S., primarily in the Williston Basin and Central Rockies. It partners with leading operators, manages a diversified asset base, and emphasizes disciplined capital allocation, data-driven decision-making, and long-term value creation through acquisitions and development of undeveloped locations. The company prioritizes financial strength, risk diversification, and responsible energy production.
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