Vitesse Energy Reports 23% Revenue Growth to $81.8 Million in Q2 2025

Vitesse Energy, Inc. reported significant financial performance for the second quarter of 2025, with total revenue reaching $81.8 million, a 23% increase from $66.6 million in the same period last year. The growth was primarily driven by a 40% increase in production volumes, which rose to 18,950 barrels of oil equivalent per day (BOE/d). This increase in production was bolstered by the company's strategic acquisition of Lucero Energy Corp., which closed on March 7, 2025. Net income for the quarter was $24.7 million, including a $24 million cash settlement from a legal dispute, compared to $10.9 million in the prior year.

In terms of operational metrics, Vitesse's production of oil and natural gas saw a notable rise, with oil production increasing by 30% to 1,119 MBbls and natural gas production surging by 64% to 3,630 MMcf. However, the average realized price for oil decreased by 20% to $59.50 per barrel, while natural gas prices increased significantly to $4.17 per Mcf, reflecting a 276% rise. The overall increase in revenue was partially offset by a decrease in average realized prices, which reduced revenue by approximately $8.3 million.

The company also reported a substantial increase in operating expenses, which rose to $63.1 million from $49.8 million year-over-year. This increase was driven by higher lease operating expenses, which surged by 60% to $19.6 million, and a 37% rise in depletion, depreciation, amortization, and accretion expenses. General and administrative expenses decreased significantly due to the reimbursement of litigation costs, resulting in a net expense of $0.3 million for the quarter.

Vitesse's balance sheet showed total assets of $951.5 million as of June 30, 2025, up from $810.9 million at the end of 2024, largely due to the acquisition of Lucero. The company’s total liabilities decreased to $279.6 million from $310.6 million, reflecting a reduction in accounts payable and accrued liabilities. The company maintained a strong liquidity position with $2.0 million in cash and $144 million available under its revolving credit facility.

Looking ahead, Vitesse Energy anticipates continued volatility in commodity prices, which could impact future earnings and cash flows. The company plans to leverage its operational efficiencies and strategic acquisitions to enhance shareholder value while navigating the challenges posed by fluctuating market conditions. The management remains focused on maintaining a strong balance sheet and returning capital to shareholders through dividends and potential share repurchases.