Vitesse Energy, Inc. reported a total revenue of $274.0 million for the fiscal year ending December 31, 2025, marking a 13% increase from $242.0 million in 2024. The company's net income for the year was $25.3 million, compared to $20.5 million in the previous year. This growth in revenue was primarily driven by a 34% increase in production volumes, which rose to 6,367 MBoe from 4,759 MBoe in 2024. However, the average realized price per barrel of oil decreased by 15% to $59.14, reflecting the volatility in commodity prices. The company also paid $92.1 million in dividends to its equity holders during the year, up from $63.6 million in 2024.
In terms of operational developments, Vitesse Energy's average working interest in productive wells was 3.5%, with a total of 6,402 gross productive wells and 1,301 royalty interests as of December 31, 2025. The company also reported a significant increase in its proved reserves, which reached 47.8 million barrels of oil equivalent (MMBoe), with a present value (PV-10) of $472.7 million. The Lucero Acquisition, completed on March 7, 2025, contributed to this growth, adding valuable assets in the Williston Basin.
The company experienced notable changes in its cost structure, with lease operating expenses increasing to $10.92 per Boe, up from $10.00 in 2024. This rise was attributed to higher workover costs associated with the properties acquired in the Lucero Acquisition. Additionally, general and administrative expenses increased slightly to $24.3 million, reflecting ongoing operational costs and litigation reimbursements. The company also reported a significant gain on commodity derivatives of $27.9 million, a substantial turnaround from a loss of $2.3 million in the previous year.
Looking ahead, Vitesse Energy's management expressed confidence in its ability to navigate the volatile oil and gas market while maintaining a strong balance sheet. The company plans to continue its strategy of acquiring and developing oil and natural gas assets, focusing on generating free cash flow and returning capital to shareholders. However, the outlook remains cautious due to potential fluctuations in commodity prices, regulatory changes, and the ongoing geopolitical landscape affecting the energy sector. The company aims to leverage its operational flexibility and data-driven approach to capitalize on future opportunities while managing risks associated with its business model.
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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