The following is a summary of the Vitesse Energy, Inc. (VTS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Vitesse Energy reported a quarterly dividend of $0.525 per share and plans to pay another $0.525 in December.

• Adjusted EBITDA for the quarter was $37.6 million, adjusted net income was $7.6 million, while GAAP net income was $17.4 million.

• Lowered annual CapEx guidance to $110 million to $120 million from the previous range of $130 million to $150 million, while maintaining production guidance.

• Operating cash flow net of working capital changes was $35.1 million, covering dividends and CapEx, with excess used to reduce debt by $10 million.

Business Progress:

• Production averaged 13,009 barrels of oil equivalent per day for Q3, with 54% of the remaining 2024 oil production hedged at above $78 per barrel.

• In the pipeline are 20.2 net wells, including 11.3 being drilled and completed, set to increase output significantly late Q4 2024 and early 2025.

• Announced a continuation of opportunistic and flexible CapEx plans into 2025, expecting a 7% production growth with less CapEx.

Opportunities:

• No explicit opportunities detected.

Risks:

• No explicit risks detected.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.