Vitesse Energy finalizes Lucero acquisition, files reports

Vitesse Energy, Inc. (VTS), currently valued at $830 million with shares trading at $20.45, has completed its previously announced acquisition of Lucero Energy Corp., making Lucero a wholly-owned subsidiary, as detailed in a recent 8-K filing with the U.S. Securities and Exchange Commission. The transaction was finalized on March 7, 2025, with Vitesse acquiring all issued and outstanding common shares of Lucero. According to InvestingPro analysis, Vitesse maintains a moderate debt level and has demonstrated profitability over the last twelve months.

The 8-K filing, dated April 30, 2025, includes the audited financial statements of Lucero Energy Corp. for the years ending December 31, 2024, 2023, and 2022. Additionally, the document provides unaudited pro forma condensed combined financial statements for the year ended December 31, 2024. These financial statements are intended to present the financial position of the combined companies post-acquisition. For investors seeking deeper insights, InvestingPro offers comprehensive analysis of VTS’s financial health, including detailed metrics and expert research reports.

Vitesse Energy, based in Greenwood Village, Colorado, operates within the crude petroleum and natural gas industry under the standard industrial classification code 1311. The company’s common stock is listed on the New York Stock Exchange under the trading symbol VTS, offering investors an attractive 10.46% dividend yield. The company has maintained strong operational metrics with a 78.4% gross profit margin and generates solid cash flows.

The filing also includes the consent of KPMG LLP related to Lucero Energy Corp.’s financial statements, emphasizing the due diligence and transparency in the acquisition process. Vitesse Energy, as an emerging growth company, has elected not to use the extended transition period for complying with new or revised financial accounting standards.

Investors and stakeholders can refer to the 8-K filing for a detailed view of the financial implications of the acquisition. The document provides a comprehensive look at the financial health and future prospects of the newly expanded entity.

This report is based on information contained in a press release statement filed with the SEC.

In other recent news, Vitesse Energy Inc. reported a significant miss in its fourth-quarter 2024 earnings, with earnings per share (EPS) of -0.285, falling short of the forecasted 0.58. The company’s revenue also underperformed, coming in at $59.8 million compared to the expected $71.18 million. Despite these financial setbacks, Vitesse Energy has taken strategic steps, including the acquisition of Lucero Energy Corp. in an all-stock transaction, which has allowed the company to increase its base dividend by approximately 7% and reduce its debt. Analysts from Evercore ISI have resumed coverage of Vitesse Energy with an In Line rating, highlighting the company’s attractive dividend yield and enhanced operational flexibility following the acquisition.

Furthermore, Vitesse Energy has been granted exemptive relief by Canadian securities regulators, allowing it to align its reporting processes more closely with U.S. standards. This regulatory decision follows the company’s acquisition of Lucero Energy, which expanded its reporting obligations under Canadian law. The exemptive relief is expected to streamline Vitesse’s reporting processes, reducing the burden of meeting dual regulatory requirements. Analysts have noted that Vitesse Energy’s outlook for 2025 suggests modest year-over-year non-operated production growth, bolstered by both organic and inorganic factors. However, challenges remain, including limited trading liquidity and valuation concerns, as the company’s shares are trading at levels comparable to high-quality exploration and production companies.

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