Vitesse Energy, Inc. reported robust financial and operating results for the second quarter of 2025, with net income reaching $24.7 million and adjusted net income at $18.4 million. Adjusted EBITDA for the quarter was $61.1 million, reflecting strong operational performance.
Production volumes averaged 18,950 Boe per day, marking a 27% sequential increase from the first quarter of 2025 and a 40% increase year-over-year, primarily attributable to the successful integration of Lucero Energy Corp. Total revenue for the quarter increased by 22.76% year-over-year to $81.75 million, significantly boosted by a $24 million litigation settlement with Hess, which contributed $16.9 million to revenue.
The company demonstrated strong financial discipline, reducing total debt to $106 million and achieving a net debt to adjusted annualized EBITDA ratio of 0.4x. The working capital deficit improved substantially from $49.4 million at December 31, 2024, to $3.8 million at June 30, 2025. Vitesse reaffirmed its 2025 annual guidance for production at 15,000 to 17,000 Boe per day and cash capital expenditures between $80 million and $110 million, while also declaring a third-quarter cash dividend of $0.5625 per share.
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