Form 8-K

8-K — Vitesse Energy, Inc.

Accession: 0001944558-26-000045

Filed: 2026-08-03

Period: 2026-08-03

CIK: 0001944558

SIC: 1311 (CRUDE PETROLEUM & NATURAL GAS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — vitesse-20260803.htm (Primary)

EX-99.1 (a2q2026earningspressreleas.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: vitesse-20260803.htm · Sequence: 1

vitesse-20260803

0001944558FALSE5619 DTC Parkway,Suite 700Greenwood Village,Colorado00019445582026-08-032026-08-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________

FORM 8-K

________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 3, 2026

________________________

Vitesse Energy, Inc.

(Exact name of registrant as specified in its charter)

________________________

Delaware 001-41546 88-3617511

(State or other jurisdiction of

incorporation or organization) (Commission

File Number) (IRS. Employer

Identification No.)

5619 DTC Parkway, Suite 700

Greenwood Village, Colorado

80111

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (720) 361-2500

________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2, below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class Trading

Symbol(s) Name of each exchange

on which registered

Common Stock, par value $0.01 per share VTS New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition

On August 3, 2026, Vitesse Energy, Inc. (the “Company”) issued a press release announcing its operating and financial results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated by reference herein.

The information in this Item 2.02 of this Current Report on Form 8-K, including the exhibit hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, (the “Securities Act”) or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing

Item 7.01 Regulation FD Disclosure

In connection with the Company’s press release announcing its operating and financial results for the quarter ended June 30, 2026 and related conference call, the Company posted an updated corporate slide presentation on its website, www.vitesse-vts.com, in the “Investor Relations” section of the site, under “News & Events,” sub-tab “Presentations.”

The information in this Item 7.01 of this Current Report on Form 8-K, including the exhibit hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d)

Exhibit

Number

Description

99.1

Press Release issued August 3, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 3, 2026 VITESSE ENERGY, INC.

/s/ James P. Henderson

James P. Henderson

Chief Financial Officer

EX-99.1

Filename: a2q2026earningspressreleas.htm · Sequence: 2

Document

VITESSE ENERGY ANNOUNCES SECOND QUARTER 2026 RESULTS

GREENWOOD VILLAGE, Colo. – August 3, 2026 – Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) today reported the Company’s second quarter 2026 financial and operating results.

SECOND QUARTER 2026 HIGHLIGHTS

•As previously announced, declared a quarterly cash dividend of $0.4375 per common share to be paid on September 30, 2026

•Net income of $33.1 million and Adjusted Net Income(1) of $1.8 million, including a non-cash unrealized gain on commodity derivatives of $40.2 million

•Adjusted EBITDA(1) of $40.2 million

•Cash flow from operations of $25.4 million and Free Cash Flow(1) of $16.3 million

•Production of 17,354 barrels of oil equivalent (“Boe”) per day (60% oil)

•Total cash capital expenditures of $20.7 million

•Total debt of $158.5 million and Net Debt to Adjusted EBITDA ratio(1) of 1.0

(1) Non-GAAP financial measure; see reconciliation schedules at the end of this release

MANAGEMENT COMMENTS

“In the second quarter, Vitesse’s capital allocation strategy continued to deliver results, with production increasing 9% from the previous quarter following the successful integration of the Powder River Basin assets acquired in April,” stated Jamie Benard, Vitesse’s Chief Executive Officer and President. “While we’ve received a number of questions about whether Vitesse’s strategy has changed, the answer is simple: it has not. We will continue to prioritize a durable fixed dividend, allocate capital only where returns exceed our hurdle rates and maintain a strong balance sheet. With our third quarter dividend now declared, Vitesse has returned capital to stockholders for fifteen consecutive quarters since becoming a public company.”

STOCKHOLDER RETURNS

On July 29, 2026, Vitesse declared its third quarter cash dividend of $0.4375 per share for stockholders of record as of September 15, 2026, which will be paid on September 30, 2026.

On June 30, 2026, the Company paid its second quarter cash dividend of $0.4375 per share to common stockholders of record as of June 15, 2026.

FINANCIAL AND OPERATING RESULTS

Second quarter net income was $33.1 million and Adjusted Net Income was $1.8 million. Adjusted EBITDA was $40.2 million. See “Non-GAAP Financial Measures” below.

Oil and natural gas production for the second quarter of 2026 averaged 17,354 Boe per day, a sequential increase of 9% from the first quarter of 2026. Oil represented 60% of production and 95% of total oil and natural gas revenue. Total revenue, including the effects of our realized hedges, was $72.8 million.

Vitesse’s average realized oil and natural gas prices before hedging were $91.98 per Bbl and $1.17 per Mcf, respectively, during the second quarter of 2026. The Company had hedges covering 84% of oil production and its realized oil price with hedging was $71.14 per Bbl. Its realized natural gas price with hedging was $1.55 per Mcf.

Lease operating expenses in the second quarter of 2026 were $18.0 million, or $11.38 per Boe. General and administrative expenses totaled $6.2 million, or $3.89 per Boe.

LIQUIDITY AND CAPITAL EXPENDITURES

As of June 30, 2026, Vitesse had $0.9 million in cash and $158.5 million of borrowings outstanding on its revolving credit facility. Vitesse had total liquidity of $117.4 million as of June 30, 2026, consisting of cash and $116.5 million of committed borrowing availability under its revolving credit facility.

During the second quarter of 2026, Vitesse invested $21.1 million in development capital expenditures and acquired $0.7 million of oil and gas properties. Vitesse also recorded a $1.1 million purchase price adjustment received on the Powder River Basin Acquisition in the second quarter of 2026.

OPERATIONS UPDATE

As of June 30, 2026, the Company owned an interest in 305 gross (6.4 net) wells that were either drilling or in the completion phase, and another 363 gross (13.0 net) locations that had been permitted for development.

REVISED 2026 ANNUAL GUIDANCE

Vitesse tightened its 2026 annual guidance in response to second quarter results and recent market conditions as set forth below:

Prior 2026 Guidance Revised 2026 Guidance

Annual Production (Boe per day)

16,000 - 17,500 16,300 - 17,200

Oil as a Percentage of Annual Production 60% - 64% 60% - 62%

Total Cash Capital Expenditures ($ in millions)

$50 - $80 $65 - $80

SECOND QUARTER 2026 RESULTS

The following table sets forth selected financial and operating data for the periods indicated.

THREE MONTHS ENDED JUNE 30, INCREASE

(DECREASE)

($ in thousands, except production and per unit data) 2026 2025 AMOUNT PERCENT

Financial and Operating Results:

Revenue

Oil

$ 86,507 $ 66,611 $ 19,896 30 %

Natural gas

4,497 15,144 (10,647) (70 %)

Total revenue

$ 91,004 $ 81,755 $ 9,249 11 %

Operating Expenses

Lease operating expense

$ 17,975 $ 19,629 $ (1,654) (8 %)

Production taxes

8,459 6,180 2,279 37 %

General and administrative

6,150 311 5,839 *

Depletion, depreciation, amortization, and accretion

34,809 34,576 233 1 %

Equity-based compensation 2,735 2,403 332 14 %

Interest Expense

$ 3,022 $ 2,539 $ 483 19 %

Commodity Derivative Gain, Net

$ 22,043 $ 18,451 $ 3,592 19 %

Income Tax (Benefit) Expense

$ 6,776 $ 9,871 $ (3,095) (31 %)

Production Data:

Oil (MBbls)

940 1,119 (179) (16 %)

Natural gas (MMcf)

3,832 3,630 202 6 %

Combined volumes (MBoe)

1,579 1,724 (145) (8 %)

Daily combined volumes (Boe/d)

17,354 18,950 (1,596) (8 %)

Average Realized Prices before Hedging:

Oil (per Bbl)

$ 91.98 $ 59.50 $ 32.48 55 %

Natural gas (per Mcf)

1.17 4.17 (3.00) (72 %)

Combined (per Boe)

57.63 47.41 10.22 22 %

Average Realized Prices with Hedging:

Oil (per Bbl)

$ 71.14 $ 64.21 $ 6.93 11 %

Natural gas (per Mcf)

1.55 4.17 (2.62) (63 %)

Combined (per Boe)

46.12 50.47 (4.35) (9 %)

Average Costs (per Boe):

Lease operating

$ 11.38 $ 11.38 $ — — %

Production taxes

5.36 3.58 1.78 50 %

General and administrative

3.89 0.18 3.71 *

Depletion, depreciation, amortization, and accretion

22.04 20.05 1.99 10 %

*Not meaningful.

COMMODITY HEDGING

Vitesse hedges a portion of its expected oil and natural gas production volumes to increase the predictability and certainty of its cash flow and to help maintain a strong financial position to support its dividend. Based on the midpoint of its revised 2026 guidance, Vitesse has approximately 70% of its remaining 2026 oil production hedged and approximately 48% of its remaining 2026 two-stream natural gas production hedged through its natural gas and natural gas liquids hedges. The following tables summarize Vitesse’s open commodity derivative contracts scheduled to settle after June 30, 2026.

Crude oil swaps:

INDEX SETTLEMENT PERIOD VOLUME HEDGED (Bbls) WEIGHTED AVERAGE FIXED PRICE

WTI-NYMEX Q3 2026 490,679 $65.01

WTI-NYMEX Q4 2026 457,155 $64.97

WTI-NYMEX Q1 2027 270,000 $69.25

WTI-NYMEX Q2 2027 480,000 $68.05

WTI-NYMEX Q3 2027 495,000 $68.38

WTI-NYMEX Q4 2027 465,000 $67.88

WTI-NYMEX Q1 2028 360,000 $70.60

WTI-NYMEX Q2 2028 360,000 $70.60

WTI-NYMEX Q3 2028 360,000 $70.60

WTI-NYMEX Q4 2028 270,000 $70.80

WTI-NYMEX Q1 2029 180,000 $66.50

WTI-NYMEX Q2 2029 180,000 $66.50

WTI-NYMEX Q3 2029 180,000 $66.50

WTI-NYMEX Q4 2029 180,000 $66.50

Crude oil collars:

INDEX SETTLEMENT PERIOD VOLUME HEDGED (Bbls) WEIGHTED AVERAGE FLOOR/CEILING PRICE

WTI-NYMEX Q3 2026 213,000

$61.62 / $72.58

WTI-NYMEX Q4 2026 168,000

$58.04 / $67.51

WTI-NYMEX Q1 2027 300,000

$55.75 / $66.44

WTI-NYMEX Q2 2027 45,000

$60.00 / $64.25

Natural gas collars:

INDEX SETTLEMENT PERIOD VOLUME HEDGED (MMBtu) WEIGHTED AVERAGE FLOOR/CEILING PRICE

Henry Hub-NYMEX Q3 2026 1,510,800 $3.73 / $4.90

Henry Hub-NYMEX Q4 2026 1,452,700 $3.73 / $4.90

Henry Hub-NYMEX Q1 2027 795,000 $4.00 / $5.68

Natural gas basis swaps:

INDEX SETTLEMENT PERIOD VOLUME HEDGED (MMBtu) WEIGHTED AVERAGE FIXED PRICE

Chicago City Gate to Henry Hub Q3 2026 1,510,800 $(0.100)

Chicago City Gate to Henry Hub Q4 2026 1,452,700 $(0.100)

Chicago City Gate to Henry Hub Q1 2027 795,000 $0.300

Natural gas liquids swaps:

SETTLEMENT PERIOD VOLUME HEDGED (Bbls) WEIGHTED AVERAGE FIXED PRICE

2H 2026 129,738 $31.77

2027 115,714 $32.92

The following table presents Vitesse’s settlements on commodity derivative instruments and unsettled gains and losses on open commodity derivative instruments for the periods presented:

THREE MONTHS ENDED JUNE 30,

(in thousands) 2026 2025

Realized (loss) gain on commodity derivatives (1)

$ (18,170) $ 5,271

Unrealized gain on commodity derivatives (1)

40,213 13,180

Total commodity derivative gain

$ 22,043 $ 18,451

(1)Realized and unrealized gains and losses on commodity derivatives are presented herein as separate line items but are combined for a total commodity derivative gain (loss) in the statements of operations included below. Management believes the separate presentation of the realized and unrealized commodity derivative gains and losses is useful, providing a better understanding of our hedge position.

SECOND QUARTER 2026 EARNINGS CONFERENCE CALL

In conjunction with Vitesse’s release of its financial and operating results, investors, analysts and other interested parties are invited to listen to a conference call with management on Tuesday, August 4, 2026 at 11:00 a.m. Eastern Time.

An updated corporate slide presentation that may be referenced on the conference call will be posted prior to the conference call on Vitesse’s website, www.vitesse-vts.com, in the “Investor Relations” section of the site, under “News & Events,” sub-tab “Presentations.”

Those wishing to listen to the conference call may do so via the Company’s website or by phone as follows:

Website: https://event.choruscall.com/mediaframe/webcast.html?webcastid=GpKD5XwJ

Dial-In Number: 877-407-0778 (US/Canada) and +1 201-689-8565 (International)

Conference ID: 13761677 - Vitesse Energy Second Quarter 2026 Earnings Call

Replay Dial-In Number: 877-660-6853 (US/Canada) and +1 201-612-7415 (International)

Replay Access Code: 13761677 - Replay will be available through August 11, 2026

UPCOMING INVESTOR EVENTS

Vitesse management will participate in the following upcoming investor events:

•EnerCom Denver Energy Conference - Denver - August 18-19, 2026

•Midwest IDEAS Conference - Chicago - August 27, 2026

Any investor presentations to be used for this event will be posted prior to the event on Vitesse’s website, www.vitesse-vts.com, in the “Investor Relations” section of the site, under “News & Events,” sub-tab “Presentations.”

ABOUT VITESSE ENERGY, INC.

Vitesse Energy, Inc. is focused on returning capital to stockholders through owning financial interests predominantly as a non-operator in oil and gas wells drilled by leading U.S. operators.

More information about Vitesse can be found at www.vitesse-vts.com.

FORWARD-LOOKING STATEMENTS

This press release 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 historical facts included in this release regarding Vitesse’s financial position, operating and financial performance, business strategy, dividend plans and practices, guidance, plans and objectives of management for future operations, and industry conditions are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Vitesse’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in oil and natural gas prices; the pace of drilling and completions activity on Vitesse’s properties; Vitesse’s ability to acquire additional development opportunities; potential acquisition transactions; integration and benefits of acquisitions, including the Powder River Basin Acquisition, or the effects of such acquisitions on Vitesse’s cash position and levels of indebtedness; changes in Vitesse’s reserves estimates or the value thereof; disruptions to Vitesse’s business due to acquisitions and other significant transactions; infrastructure constraints and related factors affecting Vitesse’s properties; cost inflation or supply chain disruption; ongoing legal disputes over the Dakota Access Pipeline; the impact of general economic or industry conditions, nationally and/or in the communities in which Vitesse conducts

business; changes in the interest rate environment, legislation or regulatory requirements; changes in U.S. trade policy, including the imposition of and changes in tariffs and resulting consequences; conditions of the securities markets; Vitesse’s ability to raise or access capital; cyber-related risks; changes in accounting principles, policies or guidelines; and financial or political instability, health-related epidemics, acts of war (including continued hostilities in the Middle East, including conflict with Iran and disruption to key maritime shipping routes in the region, the conflict in Ukraine and developments in Venezuela) or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Vitesse’s operations, products and prices. Additional information concerning potential factors that could affect future results is included in the section entitled “Item 1A. Risk Factors” and other sections of Vitesse’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause Vitesse’s actual results to differ from those set forth in the forward looking statements.

Vitesse has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Vitesse’s control. Vitesse does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.

FINANCIAL INFORMATION

VITESSE ENERGY, INC.

Consolidated Statements of Operations

FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED

JUNE 30, JUNE 30,

(In thousands, except share data)

2026 2025 2026 2025

Revenue

Oil

$ 86,507 $ 66,611 $ 146,524 $ 125,535

Natural gas

4,497 15,144 11,891 22,390

Total revenue

91,004 81,755 158,415 147,925

Operating Expenses

Lease operating expense 17,975 19,629 33,310 33,484

Production taxes 8,459 6,180 14,124 11,953

General and administrative 6,150 311 14,736 12,442

Depletion, depreciation, amortization, and accretion 34,809 34,576 65,996 61,139

Equity-based compensation 2,735 2,403 3,460 4,873

Total operating expenses 70,128 63,099 131,626 123,891

Operating Income 20,876 18,656 26,789 24,034

Other (Expense) Income

Commodity derivative gain (loss), net 22,043 18,451 (32,963) 18,279

Interest expense (3,022) (2,539) (5,637) (5,443)

Other (expense) income, net (40) (38) (77) 126

Total other income (expense) 18,981 15,874 (38,677) 12,962

Income (Loss) Before Income Taxes $ 39,857 $ 34,530 $ (11,888) $ 36,996

(Provision for) Benefit from Income Taxes (6,776) (9,871) 2,689 (9,669)

Net Income (Loss) $ 33,081 $ 24,659 $ (9,199) $ 27,327

Weighted average common shares – basic

42,041,479 39,104,962 41,064,396 36,106,598

Weighted average common shares – diluted

42,852,652 40,967,995 41,064,396 38,043,765

Net income (loss) per common share – basic $ 0.79 $ 0.62 $ (0.22) $ 0.76

Net income (loss) per common share – diluted $ 0.77 $ 0.60 $ (0.22) $ 0.72

VITESSE ENERGY, INC.

Consolidated Balance Sheets

JUNE 30, DECEMBER 31,

(in thousands, except shares) 2026 2025

Assets

Current Assets

Cash $ 884 $ 1,328

Accrued revenue 52,429 30,620

Commodity derivatives 1,768 14,252

Prepaid expenses and other current assets 3,274 5,967

Total current assets 58,355 52,167

Oil and Gas Properties-Using the successful efforts method of accounting

Proved oil and gas properties 1,607,002 1,525,890

Less accumulated DD&A and impairment (757,363) (691,963)

Total oil and gas properties, net 849,639 833,927

Other Property and Equipment—Net 99 123

Commodity derivatives 8,950 184

Other noncurrent assets 6,604 6,949

Total assets $ 923,647 $ 893,350

Liabilities and Equity

Current Liabilities

Accounts payable $ 11,832 $ 11,803

Accrued liabilities 38,764 39,141

Commodity derivatives 4,293 —

Other current liabilities 327 307

Total current liabilities 55,216 51,251

Revolving credit facility 158,500 124,500

Deferred tax liability 64,804 67,493

Asset retirement obligations 15,612 14,022

Commodity derivatives — 46

Other noncurrent liabilities 5,592 6,721

Total liabilities $ 299,724 $ 264,033

Commitments and Contingencies

Equity

Preferred stock, $0.01 par value, 5,000,000 shares authorized; 0 shares issued at June 30, 2026 and December 31, 2025, respectively

$ — $ —

Common stock, $0.01 par value, 95,000,000 shares authorized; 42,802,648 and 40,615,302 shares issued at June 30, 2026 and December 31, 2025, respectively

428 406

Additional paid-in capital 634,744 630,961

Accumulated deficit (11,249) (2,050)

Total equity 623,923 629,317

Total liabilities and equity $ 923,647 $ 893,350

NON-GAAP FINANCIAL MEASURES

Vitesse defines Adjusted Net Income (Loss) as net income (loss) before (i) non-cash gains and losses on unsettled derivative instruments, (ii) non-cash equity-based compensation, (iii) provision for (Benefit from) income taxes, and (iv) certain other items such as material general and administrative costs, reduced by the estimated impact of income tax expense.

Net Debt is calculated by deducting cash on hand from the amount outstanding on our revolving credit facility as of the balance sheet or measurement date.

Adjusted EBITDA is defined as net income (loss) before expenses for interest, income taxes, depletion, depreciation, amortization and accretion, and excludes non-cash equity-based compensation and non-cash gains and losses on unsettled derivative instruments in addition to certain other items such as material transaction and general and administrative costs.

Vitesse defines Free Cash Flow as cash flow from operations, adjusting for changes in operating assets and liabilities in addition to certain other items such as material general and administrative costs, less development of oil and gas properties.

Management believes the use of these non-GAAP financial measures provides useful information to investors to gain an overall understanding of financial performance. Specifically, management believes the non-GAAP financial measures included herein provide useful information to both management and investors by excluding certain items that management believes are not indicative of Vitesse’s core operating results. In addition, these non-GAAP financial measures are used by management for budgeting and forecasting as well as subsequently measuring Vitesse’s performance, and management believes it is providing investors with financial measures that most closely align to its internal measurement processes. A reconciliation of each of the non-GAAP financial measures to the most directly comparable GAAP measure is included below.

RECONCILIATION OF ADJUSTED NET INCOME

(in thousands) FOR THE THREE MONTHS ENDED JUNE 30, 2026

Net Income $ 33,081

Add:

Unrealized gain on derivative instruments (40,213)

Equity-based compensation 2,735

Provision for income taxes 6,776

Adjusted Income Before Adjusted Income Tax Expense 2,379

Adjusted Income Tax Expense(1)

(554)

Adjusted Net Income (non-GAAP) $ 1,825

(1)The Company determined the income tax impact on the “Adjusted Income Before Adjusted Income Tax Expense” using the relevant statutory tax rate of 23.3%.

RECONCILIATION OF NET DEBT AND ADJUSTED EBITDA

(in thousands, except for ratio) AT JUNE 30, 2026

Revolving Credit Facility $ 158,500

Less: Cash 884

Net Debt $ 157,616

(in thousands, except for ratio) FOR THE THREE MONTHS ENDED

JUNE 30, 2026 FOR THE TRAILING TWELVE MONTHS ENDED

JUNE 30, 2026

Net Income (Loss) $ 33,081 $ (11,249)

Add:

Interest expense $ 3,022 $ 10,399

Provision for (Benefit from) income taxes 6,776 (2,561)

Depletion, depreciation, amortization, and accretion 34,809 134,269

Equity-based compensation 2,735 8,833

Unrealized (gain) loss on derivative instruments (40,213) 9,474

Transaction and other G&A, net — 2,678

Adjusted EBITDA $ 40,210 $ 151,843

Net Debt to Adjusted EBITDA ratio 1.0

RECONCILIATION OF FREE CASH FLOW

(in thousands) FOR THE THREE MONTHS ENDED

JUNE 30, 2026

Net cash provided by operating activities

$ 25,444

Add:

Changes in operating assets and liabilities 11,986

Cash flow from operations before changes in operating assets and liabilities 37,430

Less: Development of oil and gas properties (21,087)

Free Cash Flow $ 16,343

INVESTOR AND MEDIA CONTACT

Ben Messier, CFA

Director – Investor Relations and Business Development

(720) 532-8232

benmessier@vitesse-vts.com

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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No definition available.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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dei_DocumentType

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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No definition available.

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- Definition

Address Line 2 such as Street or Suite number

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No definition available.

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- Definition

Name of the City or Town

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No definition available.

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- Definition

Code for the postal or zip code

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No definition available.

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Name of the state or province.

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No definition available.

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 7A

-Section B

-Subsection 2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Local phone number for entity.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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