Vitesse Vitality introduced right now the completion of its beforehand introduced acquisition of Lucero Vitality. The association was accepted by Vitesse stockholders and Lucero shareholders on March 5, 2025 and March 6, 2025, respectively, and Lucero obtained the approval of the Court docket of King’s Bench of Alberta on March 6, 2025.
The addition of Lucero’s operations will allow Vitesse to develop its property throughout the Bakken shale area, the place Lucero had roughly 6.4 Mboe per day of two-stream web manufacturing throughout the third quarter of 2024.
“We’re happy to finish the acquisition of Lucero, which is anticipated to extend our dividend and can present extra liquidity to additional our skill to make accretive acquisitions,” stated Bob Gerrity, Vitesse’s Chairman and Chief Government Officer. “We’re grateful for the laborious work and dedication of the Vitesse and Lucero workers, who’ve been working diligently to assist us finalize this acquisition.”
See additionally: Vitesse Vitality to accumulate Lucero for $222 million, increasing Bakken footprint
Transaction particulars
Pursuant to the association settlement between Vitesse and Lucero, dated December 15, 2024, on the closing of the association every widespread share of Lucero has the suitable to obtain 0.01239 of a share of Vitesse widespread inventory. The Vitesse shares to be issued to holders of Lucero shares will commerce on the New York Inventory Change.
