Vitesse Energy Q2 revenue rises on higher oil prices, production
Vitesse Energy Q2 revenue rises on higher oil prices, production
Overview
US oil and gas interest holder's Q2 revenue rose 11% yr/yr to $91 mln
Adjusted net income for Q2 was $1.8 mln; diluted EPS was $0.77
Q2 production rose 9% sequentially after Powder River Basin asset integration
Outlook
Vitesse tightens 2026 annual production guidance to 16,300-17,200 Boe per day
Company expects 2026 oil as a percentage of production at 60%-62%
2026 capital expenditures forecast at $65 mln to $80 mln
Result Drivers
PRODUCTION GROWTH - Co attributed 9% sequential production increase to successful integration of Powder River Basin assets
HEDGING IMPACT - Realized oil prices with hedging were lower than market prices due to extensive hedging program
DERIVATIVE GAINS - Large non-cash unrealized gain on commodity derivatives contributed to net income
Company press release: ID:nBw8snvsDa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $91.004 mln | $80.50 mln (2 Analysts) |
Q2 EPS |
| $0.77 |
|
Q2 Adjusted Net Income |
| $1.8 mln |
|
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 $22.00, about 41% above its July 31 closing price of $15.60
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 37 three months ago
Reuters Recommended Reads
Aug 3 - War-fueled oil rally set to lift shale profits to highest since 2022
Aug 3 - Shale producer Diamondback Energy beats second-quarter profit estimates
Aug 3 - Hess Midstream's Q2 adjusted EBITDA beats on lower operating costs
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)