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Sep 30
Vitesse Energy Q3 2025 Earnings Report
Vitesse Energy reported its third quarter 2025 financial and operating results, including a net loss of $1.3 million and increased 2025 production and capital expenditures guidance.
Key Takeaways
Vitesse Energy experienced a net loss of $1.3 million in Q3 2025, despite an increase in total revenue to $67.443 million. The company maintained a conservative balance sheet with a Net Debt to Adjusted EBITDA ratio of 0.65 and generated $49.4 million in cash flow from operations. Production averaged 18,163 Boe per day, with oil representing 65% of the volume, and the company increased its 2025 production and capital expenditure guidance.
Net loss for the quarter was $1.3 million, with an Adjusted Net Income of $3.8 million.
Adjusted EBITDA reached $41.6 million, and cash flow from operations was $49.4 million.
Production averaged 18,163 barrels of oil equivalent per day, with oil accounting for 65% of the total.
Total debt stood at $114.0 million, resulting in a Net Debt to Adjusted EBITDA ratio of 0.65.
Vitesse Energy
Vitesse Energy
Vitesse Energy Revenue by Segment
Revenue by Segment
Oil Revenue
CapyFin.comNatural Gas Revenue
CapyFin.com Forward Guidance
Vitesse Energy has revised its 2025 annual guidance upwards for production and capital expenditures, while narrowing the range for oil as a percentage of annual production, reflecting incremental drilling activity and successful well completions.
Positive Outlook
- Increased annual production guidance for 2025 by 8% at the midpoint, with a narrowed range of 17,000 - 17,500 Boe per day.
- Increased and tightened the range of total capital expenditure guidance to $110 - $125 million.
- Successful completion of two operated wells under budget, with initial production outperforming underwriting expectations.
- Technological improvements in the Bakken, particularly in three- and four-mile laterals, are enhancing asset value.
- Approximately 60% of remaining 2025 oil production is hedged at a weighted average price of $69.99 per barrel.
Challenges Ahead
- The borrowing base on the revolving credit facility was reduced from $315 million to $295 million due to a lower commodity price environment.
- Average realized oil prices before hedging decreased to $59.73 per Bbl from $69.43 per Bbl in the prior year.
- Average realized combined prices before hedging decreased to $40.36 per Boe from $48.69 per Boe in the prior year.
- Lease operating expenses increased to $11.05 per Boe from $9.71 per Boe in the prior year.
- General and administrative expenses increased in absolute terms to $5.743 million from $5.231 million in the prior year.