Vitesse Energy Files 8-K on Material Definitive Agreement
Ticker: VTS · Form: 8-K · Filed: May 21, 2024 · CIK: 1944558
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation, 8-k
TL;DR
Vitesse Energy just signed a big deal, filing an 8-K to let everyone know.
AI Summary
On May 20, 2024, Vitesse Energy, Inc. entered into a material definitive agreement related to its financial obligations. The company, incorporated in Delaware, filed an 8-K report detailing this event. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Vitesse Energy, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new financial risks or opportunities that require careful evaluation.
Key Numbers
- 13 — Public Document Count (Indicates the number of documents included in the filing.)
Key Players & Entities
- Vitesse Energy, Inc. (company) — Registrant
- May 20, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-41546 (identifier) — SEC File Number
- 88-3617511 (identifier) — IRS Employer Identification No.
- 5619 DTC Parkway, Suite 700 Greenwood Village, Colorado 80111 (address) — Principal executive offices
FAQ
What specific type of material definitive agreement did Vitesse Energy enter into?
The filing indicates an 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement', but the specific details of the agreement are not provided in this excerpt.
What is the significance of the 'Creation of a Direct Financial Obligation' mentioned in the filing?
This signifies that Vitesse Energy has undertaken a new financial commitment or debt, which could impact its balance sheet and financial flexibility.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 20, 2024.
What is Vitesse Energy's principal executive office address?
Vitesse Energy's principal executive offices are located at 5619 DTC Parkway, Suite 700, Greenwood Village, Colorado 80111.
What is Vitesse Energy's SIC code?
Vitesse Energy's Standard Industrial Classification (SIC) code is 1311, which corresponds to Crude Petroleum & Natural Gas.
Filing Stats: 585 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-05-21 16:33:54
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share VTS New York Stock Exchange
- $245 m — i) the borrowing base was reaffirmed at $245 million, (ii) the elected commitment amou
- $210 million — ed commitment amount was increased from $210 million to $245 million and (iii) the lending s
- $245 million — ount was increased from $210 million to $245 million and (iii) the lending syndicate was inc
Filing Documents
- vitesse-20240520.htm (8-K) — 26KB
- 0001944558-24-000073.txt ( ) — 153KB
- vitesse-20240520.xsd (EX-101.SCH) — 2KB
- vitesse-20240520_lab.xml (EX-101.LAB) — 23KB
- vitesse-20240520_pre.xml (EX-101.PRE) — 13KB
- vitesse-20240520_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On May 20, 2024, Vitesse Energy, Inc. (the "Company") entered into an amendment (the "Credit Agreement Amendment) its Second Amended and Restated Credit Agreement (the "Revolving Credit Agreement"), as amended from time to time, among the Company, as borrower, Wells Fargo Bank, N.A., as administrative agent, and the lenders party thereto, dated as of January 13, 2023. Pursuant to the Credit Agreement Amendment, the Company's semi-annual borrowing base redetermination was completed and : (i) the borrowing base was reaffirmed at $245 million, (ii) the elected commitment amount was increased from $210 million to $245 million and (iii) the lending syndicate was increased to six banks from five. The foregoing description of the Credit Agreement Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement Amendment, which will be attached as an exhibit to the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2024. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibit Number Description 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: May 21, 2024 VITESSE ENERGY, INC. /s/ James P. Henderson James P. Henderson Chief Financial Officer