Vitesse Energy Enters Material Definitive Agreement

TL;DR

Vitesse Energy just signed a big deal, watch their financials.

AI Summary

Vitesse Energy, Inc. entered into a Material Definitive Agreement on October 22, 2024, related to a direct financial obligation. The filing details this agreement and its implications for the company's financial standing.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Vitesse Energy, which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce risks related to repayment, market conditions, and operational execution.

Key Players & Entities

• Vitesse Energy, Inc. (company) — Registrant
• 0001944558-24-000099 (filing_id) — Accession Number
• 10/22/2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 5619 DTC Parkway, Suite 700 Greenwood Village, Colorado 80111 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share VTS New York Stock Exchange
• $245 million — i) the borrowing base was reaffirmed at $245 million (iii) the elected commitment amount was
• $235 million — ount was decreased from $245 million to $235 million and (iv) the definition of the term "Ap

Filing Documents

• vitesse-20241022.htm (8-K) — 26KB
• 0001944558-24-000099.txt ( ) — 154KB
• vitesse-20241022.xsd (EX-101.SCH) — 2KB
• vitesse-20241022_lab.xml (EX-101.LAB) — 23KB
• vitesse-20241022_pre.xml (EX-101.PRE) — 13KB
• vitesse-20241022_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On October 22, 2024, Vitesse Energy, Inc. (the "Company") entered into an amendment (the "Credit Agreement Amendment") to its Second Amended and Restated 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, among other things: (i) the maturity date was extended to a date that is four years following the effective date of the Credit Agreement Amendment, (ii) the borrowing base was reaffirmed at $245 million (iii) the elected commitment amount was decreased from $245 million to $235 million and (iv) the definition of the term "Applicable Margin" was amended to reduce the rates in the Utilization Grid for SOFR Loans and ABR Loans (as each of those terms is defined in the Credit Agreement) by 0.25%. 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 September 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: October 23, 2024 VITESSE ENERGY, INC. /s/ James P. Henderson James P. Henderson Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR