Vitesse Energy completed a $26 million deal for non-operated oil and gas assets in Colorado’s Denver-Julesburg Basin, operated by Chevron. They are expected to produce 900 boe/day over the next year, 28% oil; Vitesse expects immediate per-share gains in earnings and cash flow.
Vitesse hedged a significant portion of the acquired production through 2030, which it says improves visibility into returns. The hedges could also limit gains if oil prices rise. The assets’ expected output is about 5% of Vitesse’s average production of 17,354 boepd in the second quarter.
