Vitesse Energy beats Q3 revenue estimates, but reports net loss

Overview

• Vitesse Energy beat analysts' expectations for Q3 revenue, but reported net loss of $1.3 mln

• Company raised 2025 production and capital expenditure guidance

• Production decreased 4% sequentially to 18,163 Boe per day

Outlook

• Vitesse raises 2025 production guidance to 17,000 - 17,500 Boe per day from 15,000 - 17,000 Boe per day

• Company increases 2025 capital expenditure guidance to $110 - $125 mln from $80 - 110 mln

• Vitesse narrows oil percentage of annual production to 65% - 67% from 64% - 68%

Result Drivers

• TECHNOLOGICAL ADVANCEMENTS - Co attributes enhanced asset value to improvements in drilling technology, particularly in Bakken region

• WELL COMPLETIONS - Successful completion of high working interest wells under budget with production exceeding expectations

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Vitesse Energy Inc is $25.25, about 13.9% above its October 31 closing price of $21.75

• The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 38 three months ago

Press Release:

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