Vitesse Energy completes $222 million acquisition of Lucero Energy
Vitesse Energy announced today the completion of its previously announced acquisition of Lucero Energy. The arrangement was approved by Vitesse stockholders and Lucero shareholders on March 5, 2025 and March 6, 2025, respectively, and Lucero received the approval of the Court of King’s Bench of Alberta on March 6, 2025.
The addition of Lucero’s operations will enable Vitesse to expand its assets across the Bakken shale region, where Lucero had approximately 6.4 Mboe per day of two-stream net production during the third quarter of 2024.
“We are pleased to complete the acquisition of Lucero, which is expected to increase our dividend and will provide additional liquidity to further our ability to make accretive acquisitions,” said Bob Gerrity, Vitesse’s Chairman and Chief Executive Officer. “We are grateful for the hard work and dedication of the Vitesse and Lucero employees, who have been working diligently to help us finalize this acquisition.”
See also: Vitesse Energy to acquire Lucero for $222 million, expanding Bakken footprint
Transaction details
Pursuant to the arrangement agreement between Vitesse and Lucero, dated December 15, 2024, at the closing of the arrangement each common share of Lucero has the right to receive 0.01239 of a share of Vitesse common stock. The Vitesse shares to be issued to holders of Lucero shares will trade on the New York Stock Exchange.
