Vitesse Energy announced that it has signed a definitive agreement to acquire non-operated oil and gas assets in Wyoming’s Powder River Basin in an all-stock transaction valued at $35 million. The acquisition represents a strategic expansion of the company’s existing presence in the basin and is expected to enhance earnings and cash flow on a per-share basis.
The Greenwood Village, Colorado-based energy company said the transaction will be funded through the issuance of Vitesse common stock and carries an effective date of January 1, 2026. The assets are located in Campbell and Converse counties and include more than 6,000 net acres, approximately 1,400 barrels of oil equivalent per day of expected net production in 2026, and 29 net undeveloped drilling locations. The wells are operated primarily by EOG Resources and Continental Resources.
The deal is expected to close at the beginning of the second quarter of 2026, subject to customary closing adjustments. Following completion, Vitesse expects the acquisition to be accretive to earnings, operating cash flow, free cash flow, and net asset value on a per-share basis.
The Powder River Basin acquisition builds on Vitesse’s strategy of investing as a non-operator alongside leading U.S. producers while returning capital to shareholders through dividends and disciplined growth.
Alongside the acquisition announcement, the company reported full-year 2025 financial results. Vitesse generated net income of $25.3 million and adjusted net income of $30.4 million for the year. Adjusted EBITDA totaled $179.3 million, while cash flow from operations reached $170.3 million. Free cash flow for the year was $48.9 million.
Production averaged 17,444 barrels of oil equivalent per day during 2025, representing a 34 percent increase compared with the prior year. Oil accounted for 65 percent of production and 89 percent of oil and natural gas revenue.
Total revenue, including hedging impacts, was $291.1 million for the year. Vitesse reported average realized prices before hedging of $59.14 per barrel of oil and $2.21 per Mcf of natural gas.
The company ended 2025 with total debt of $124.5 million and a net debt-to-adjusted EBITDA ratio of 0.69, reflecting what management described as a strong balance sheet.
Vitesse also declared a quarterly cash dividend of $0.4375 per share for the first quarter of 2026, payable on March 31, 2026 to stockholders of record as of March 16.
Looking ahead, the company expects 2026 production to range between 16,000 and 17,500 barrels of oil equivalent per day. Oil is projected to represent between 60 percent and 64 percent of production. Total capital expenditures are expected to range from $50 million to $80 million, reflecting a reduction from 2025 spending levels as operators focus on more capital-efficient drilling programs.
KEY QUOTE:
“Yesterday, we executed a definitive agreement to acquire non-operated assets in the Powder River Basin, where we have other assets, at an accretive price. Events in the Middle East over the weekend allowed us to hedge the acquisition above our underwritten prices. Last week our Board approved a quarterly dividend of $0.4375 per share in the first quarter of 2026. This positions us to maintain our balance sheet strength while pursuing accretive acquisition opportunities similar to the transaction we signed over the weekend.”
Bob Gerrity, Chairman and Chief Executive Officer, Vitesse Energy
