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Did Vitesse Energy beat or miss consensus estimates last quarter?

**Key Takeaways**
- **Operated Wells Success**: 2 Q3 operated wells exceeded expectations with 15% cost savings.
- **Production Growth**: Q3 production at 18,163 Boe/day, year-to-date at 17,373 Boe/day.
- **Financial Health**: Adjusted EBITDA of $41.6M, net debt/EBITDA of 0.65x, and $114M total debt.
- **Extended Laterals Strategy**: 50% of 2025 AFEs are 3-4 mile laterals, driving efficiency.
- **Dividend Increase**: Annual dividend raised to $2.25 per share, reflecting capital discipline.

**Core Details - Detail Page**

**CEO Summary Section**
- Vitesse completed 2 operated wells in Q3, exceeding initial production expectations and reducing costs by 15% below budget.
- Production averaged 18,163 Boe/day in Q3, with year-to-date production at 17,373 Boe/day.
- 2025 production guidance updated to 17,000-17,500 Boe/day, with 65% oil cut.
- Dividend increased to an annual rate of $2.25 per share, reflecting disciplined capital allocation.

**CFO Financial Commentary**
- Adjusted EBITDA of $41.6 million and adjusted net income of $3.8 million in Q3.
- GAAP net loss of $1.3 million, with cash CapEx of $31.8 million funded by operating cash flows.
- Total debt of $114 million, resulting in a net debt to EBITDA ratio of 0.65x.
- 2025 CapEx guidance revised to $110-125 million.

**Q&A Key Highlights**
- 50% of AFEs in 2025 are extended laterals (3-4 miles), reducing costs and improving returns.
- Acquisition activity is competitive but disciplined, with 2026 inventory planning contingent on oil prices.
- LOE costs expected to stabilize in Q4, with gas price differentials improving in winter months.
- Credit environment considerations influence operator capital allocation decisions for 2026 budgets.

Vitesse Energy, Inc. (VTS) Q3 2025 Earnings Call Transcript

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