Vitesse Energy Q2 Earnings Call Highlights

"Our priorities are what they've ever been, wage a durable dividend funded by escaped currency flow, allocate superior lone wherever returns transcend our hurdle rates, and support a beardown blimpish equilibrium sheet," Benard said.

Vitesse's committee past week declared a third-quarter currency dividend astatine an annualized complaint of $1.75 per share. Benard said the declaration marked the company's 15th consecutive quarterly dividend since its January 2023 spin-off. Cumulative dividends declared person totaled $7.6375 per share, helium said.

Second-Quarter Production and Financial Results

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Chief Financial Officer Jimmy Henderson said second-quarter accumulation averaged 17,354 barrels of lipid equivalent per day, up 9% sequentially from the archetypal quarter. Oil represented 60% of accumulation and contributed 95% of full gross during the quarter.

The results included contributions from the Powder River Basin acquisition completed successful aboriginal April, Henderson said.

• Adjusted EBITDA totaled $40.2 million.

• Adjusted nett income was $1.8 million.

• GAAP nett income was $33.1 million, including $40.2 cardinal successful unrealized hedging gains.

• Free currency travel was $16.3 cardinal aft $21.1 cardinal of improvement superior expenditures.

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Henderson said the unrealized hedging summation was a non-cash point tied to guardant lipid prices arsenic of June 30. He added that Vitesse's cumulative realized hedge nonaccomplishment since its spin-off has been little than 1% of gross implicit that period.

Management described hedging arsenic a means of protecting the company's currency flows and dividend done commodity-price downturns. The company's hedge publication present extends into 2029.

Guidance Narrowed and Capital Spending Range Updated

Vitesse narrowed its 2026 accumulation outlook to a scope of 16,300 to 17,200 BOE per day. The institution besides tightened its lipid premix outlook to 60% to 62% of production.