Vitesse Energy Buys Chevron-Backed Assets for $26 Million
Vitesse Energy, Inc., has completed the acquisition of Chevron-backed assets in Colorado's Denver-Julesburg Basin for $26 million. The deal is expected to be immediately accretive to earnings per share, operating cash flow, free cash flow, and net asset value.
The acquired assets are operated by Chevron and have a production capacity of 900 boe/day over the next year, with 28% being oil. This represents approximately 5% of Vitesse's average output of 17,354 boepd in the second quarter.
Vitesse Energy CEO Jamie Benard commented on the acquisition, saying: 'We are pleased to announce a strategic, non-operated acquisition in the Denver-Julesburg Basin, further strengthening Vitesse's position in one of the premier oil and gas basins in the United States.'