Vitesse Energy Inc. · NYSE:VTS
Vitesse Energy — Q1 2023 Earnings Presentation
10 slides from Vitesse Energy's earnings presentation, May 9, 2023
Slide 1: Investor Presentation
Investor Presentation May 2023
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: Investment Highlights
Investment Highlights Significant Free Cash Flow Limited capex required to keep production flat, supporting free cash flow Dividend Payer Additional $0.50 per share dividend to be paid second quarter of 2023 High Quality and Long Duration Asset 80%+ of assets comprised of undeveloped locations Histo
Slide 4: 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 11.5 MBoe/d (1) 67% Asset diversification and strong inventory of undeveloped locations Net Production Oil Weighting Vitesse has interests in
Slide 5: 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 17% 20% Continental Other 3% Conoco 15% Grayson Mill 20% 8% Chord 29% Hess 8% Other Civitas 1Q23 Net Production: 11,524 Boe/d 10% Continental Working Interest Rigs on Vitesse Acreage (18 of 43 in Bakken) Net Acres: 48,506
Slide 6: Returns-Based Capital Allocation Framework
Returns-Based Capital Allocation Framework Near-Term Fixed Organic Development Asset Share Debt Dividend Capex Acquisitions Acquisition Buybacks Paydown $0.50 per Share Attractive Asset Strategy Demonstrated Opportunistic Target Quarterly Dividend Base in the Focused on Track Record of $60 Million S
Slide 7: Our Proprietary Processes Enable Us to Scale Assets Without Adding G&A
Our Proprietary Processes Enable Us to Scale Assets Without Adding G&A Data Modeling Proactive Asset Management • Because there is no off-the-shelf software for • Vitesse uses data from Luminis to • Vitesse has a forensic team of in-house non-op, we created our own proprietary system accurately unde
Slide 8: Board of Directors
Board of Directors Bob The Board includes a variety of executive, Gerrity Mr. Gerrity invested his own capital in the beginning of what would become Vitesse operational, and financial experience Executive Chairman & Prior to founding Vitesse in 2014, Mr. Gerrity established and was on the manage
Slide 9: Appendix
Vitesse Appendix
Slide 10: Reconciliation of 1P PV-10 and PDP PV-10 (non-GAAP financial measures)
Reconciliation of 1P PV-10 and PDP PV-10 (non-GAAP financial measures) 2022 ($ in millions) Vitesse Energy, LLC Vitesse Oil, LLC Combined Standardized measure $1,179,984 $65,626 $1,245,610 Plus: Federal income taxes, discounted at 10% $0 $0 $0 1P PV-10 (non-GAAP) $1,179,984 $65,626 $1,245,610 (Less)