Vitesse Energy Inc. · NYSE:VTS
Vitesse Energy — Q2 2024 Earnings Presentation
10 slides from Vitesse Energy's earnings presentation, Aug 6, 2024
Slide 1: Investor Presentation
Investor Presentation August 2024 Vitesse is the French word for velocity. VTS represents the velocity of capital compounding.
Slide 2: Disclaimer
Disclaimer Forward Looking Statements This presentation contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements other than statements of histor
Slide 3: Vitesse is…
Vitesse is… A Long 80%+ of assets comprised Duration of undeveloped locations Asset High ~9% fixed dividend yield(1) Yielding Inflation Oil-weighted asset offers Protected outsized beta to inflation Leveraged to Undeveloped locations continue to Technology become more capital efficient over time (1)
Slide 4: Returns-Based Capital Allocation Framework
Returns-Based Capital Allocation Framework Near-Term Fixed Organic Development Asset Share Debt Dividend Capex Acquisitions Acquisition Buybacks Paydown $0.525 per Share Deep Inventory Strategy Demonstrated Opportunistic Target Quarterly Dividend with > 200 Focused on Track Record of $60 Million Sha
Slide 5: Vitesse Asset Overview
Vitesse Asset Overview Vitesse is a non-operated working and mineral interest owner of oil and gas assets primarily in the Bakken oil field in North Dakota 13.5 MBoe/d (1) 70% (1) Asset diversification and strong inventory of undeveloped locations Net Production Oil Weighting Vitesse has interests
Slide 6: Acreage in the Core of the Williston Basin with Exposure to Leading Operators
Acreage in the Core of the Williston Basin with Exposure to Leading Operators Diversification across 30+ operators and 7,000+ producing wells means no single well can make or break the company’s results Historically, Vitesse participates in 30- 55% of the rigs drilling in the basin, effectively cr
Slide 7: Our Proprietary Processes Enable Us to Scale Assets Without Adding G&A
Our Proprietary Processes Enable Us to Scale Assets Without Adding G&A Data Modeling Proactive Asset Management • Because there is no off-the-shelf software for • Vitesse uses data from Luminis to • Vitesse has a forensic team of in-house non-op, we created our own proprietary system accurately unde
Slide 8: Investment Highlights
Investment Highlights Significant Free Cash Flow Limited capex required to keep production flat, supporting free cash flow Dividend Payer Additional $0.525 per share dividend to be paid third quarter of 2024 High Quality and Long Duration Asset 80%+ of assets comprised of undeveloped locations Histo
Slide 9: Appendix
Vitesse Appendix
Slide 10: Reconciliation of 1P PV-10 and PDP PV-10 (Non-GAAP Financial Measures)
Reconciliation of 1P PV-10 and PDP PV-10 (Non-GAAP Financial Measures) ($ in thousands) 2023 Standardized measure $575,691 Plus: Federal income taxes, discounted at 10% $106,379 1P PV-10 (non-GAAP) $682,070 (Less): Proved developed non-producing PV-10 ($15,108) (Less): Proved undeveloped PV-10 ($145