Vitesse Energy Closes $220MM Acquisition of Bakken's Lucero

Vitesse Energy Inc. has closed its all-stock acquisition of Bakken pureplay Lucero Energy Corp. in a deal valued at about $222 million.

Under the terms of the December deal, each common share of Lucero has the right to receive 0.01239 of a share of Vitesse common stock. The Vitesse shares issued to holders of Lucero stock will trade on the New York Stock Exchange. Lucero shares will be delisted from the TSX Venture Exchange and the OTCQB Market.

Lucero’s operations will provide additional scale to Vitesse’s assets across the Bakken, Vitesse said. Lucero averaged approximately 6,400 boe/d, 58% oil, during third-quarter 2024, Vitesse said. The company has 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions, according to a Vitesse investor presentation.