Vitesse Snags DJ Basin Assets for $26 Million

Vitesse Energy Inc. has acquired non-operated oil and gas assets in the Denver-Julesburg (DJ) Basin in Colorado from an undisclosed seller for an initial unadjusted purchase price of $26 million.

The assets, which lie primarily in Weld County, Colorado, are operated by Chevron and add a high-quality, predominantly proved developed producing asset base to Vitesse's portfolio, according to Jamie Benard, the company's chief executive officer and president.

The deal adds 819 gross wells to Vitesse's database and strengthens underwriting of future opportunities in the basin. Over the next 12 months, the acquired assets are expected to produce about 900 boe/d on a two-stream basis (28% oil),

Vitesse has entered into commodity derivative contracts covering a significant portion of the acquired production through 2030 to support underwritten returns.