Vitesse Energy Inc
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
VTS$14.83+0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Financial Statements (Unaudited)Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Unaudited)
| SEPTEMBER 30, | DECEMBER 31, | |
|---|---|---|
| (in thousands, except shares) | 2024 | 2023 |
| Assets | ||
| Current Assets | ||
| Cash | $2,425 | $552 |
| Revenue receivable | 36,358 | 44,915 |
| Commodity derivatives (Note 6) | 12,201 | 10,038 |
| Prepaid expenses and other current assets | 3,309 | 2,841 |
| Total current assets | 54,293 | 58,346 |
| Oil and Gas Properties—Using the successful efforts method of accounting (Note 2) | ||
| Proved oil and gas properties | 1,266,319 | 1,168,378 |
| Less accumulated DD&A and impairment | (537,263) | (464,036) |
| Total oil and gas properties | 729,056 | 704,342 |
| Other Property and Equipment—Net | 189 | 189 |
| Other Assets | ||
| Commodity derivatives (Note 6) | 1,639 | 1,109 |
| Other noncurrent assets | 6,064 | 1,984 |
| Total other assets | 7,703 | 3,093 |
| Total assets | $791,241 | $765,970 |
| Liabilities and Equity | ||
| Current Liabilities | ||
| Accounts payable | $16,041 | $27,692 |
| Accrued liabilities (Note 7) | 56,663 | 32,507 |
| Other current liabilities | — | 204 |
| Total current liabilities | 72,704 | 60,403 |
| Long-term Liabilities | ||
| Credit facility (Note 5) | 105,000 | 81,000 |
| Deferred tax liability (Note 11) | 73,379 | 64,329 |
| Asset retirement obligations | 8,838 | 8,353 |
| Other noncurrent liabilities | 10,934 | 5,479 |
| Total liabilities | $270,855 | $219,564 |
| Commitments and Contingencies (Note 9) | ||
| Equity (Note 10) | ||
| Preferred stock, $0.01 par value, 5,000,000 shares authorized; 0 shares issued at September 30, 2024 and December 31, 2023, respectively | — | — |
| Common stock, $0.01 par value, 95,000,000 shares authorized; 32,658,365 and 32,812,007 shares issued at September 30, 2024 and December 31, 2023, respectively | 327 | 328 |
| Additional paid-in capital | 515,451 | 567,654 |
| Accumulated earnings (deficit) | 4,608 | (21,576) |
| Total equity | 520,386 | 546,406 |
| Total liabilities and equity | $791,241 | $765,970 |
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