Vitesse Energy, Inc. reported its fourth quarter 2024 results, including a net loss of $5.1 million, adjusted net income of $6.1 million, and adjusted EBITDA of $37.0 million. For the full year 2024, the company achieved a net income of $21.1 million, adjusted net income of $35.7 million, and adjusted EBITDA of $156.8 million.
Total production for the fourth quarter averaged 12,945 Boe per day, with oil representing 68% of production, contributing to $59.8 million in total revenue including hedges. Full year 2024 production averaged 13,003 Boe per day, with total revenue reaching $247.1 million. Proved reserves at December 31, 2024, decreased 1% to 40.3 million Boe, with a PV-10 value of $586.6 million.
The Board of Directors declared an increased first quarter 2025 cash dividend of $0.5625 per share, establishing an annualized rate of $2.25 per share. Vitesse also issued its 2025 guidance, projecting annual production between 17,000 and 18,000 Boe per day, representing an approximate 35% increase at the midpoint from 2024 levels. Cash capital expenditures for 2025 are anticipated to be between $130 million and $150 million, weighted towards the first half of the year.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.