Vitesse Energy Q2 Earnings Reflect Higher Production After Powder River Acquisition

Vitesse Energy, an independent exploration and production company, reported its second-quarter earnings. CEO Jamie Benard said the company's strategy remains centered on a free-cash-flow-funded dividend, return-focused investments, and conservative leverage.

The quarter reflected higher production following Vitesse's early-April Powder River Basin acquisition. Adjusted EBITDA totaled $40.2 million, with adjusted net income at $1.8 million. GAAP net income was $33.1 million, including an unrealized hedging gain of $40.2 million.

The company narrowed its 2026 production outlook to a range of 16,300 to 17,200 BOE per day. Vitesse also tightened its oil mix outlook to 60% to 62% of production. The company raised the bottom end of its total cash capital expenditure guidance, calling for $65 million to $80 million in spending for the full year.

Vitesse has approximately 70% of anticipated oil production hedged through swaps and collars, with a weighted average floor price of $63.57 per barrel and a ceiling of $66.53 per barrel. The company ended the quarter with $158.5 million of total debt and net debt to adjusted EBITDA of just under one times.