Vitesse Energy reports Q3 EPS (3c) vs 53c last year

Reports Q3 revenue $67.44M, two estimates $65.7M. “In the third quarter, we paid our dividend, maintained our conservative balance sheet, and allocated capital to the most economic projects,” said Bob Gerrity, Vitesse’s Chairman and Chief Executive Officer. “Technological improvements in the Bakken, most notably in the economic performance of three- and four-mile laterals, continue to enhance the value of our asset. Drilling of these extended laterals is occurring in areas of the field where Vitesse has its most concentrated acreage position. Additionally, our operating team successfully completed two 95% working interest wells under budget, with initial oil and gas production outperforming our underwriting.”