Investor Presentaiton
Vitesse Asset Overview
Vitesse is a non-operated working and mineral interest owner of oil
and gas assets primarily in the Bakken oil field in North Dakota
Asset diversification and strong inventory of undeveloped locations
■ Vitesse has interests in 6,736 productive wells (155 net wells) with an average
working interest of 2.8% per working interest well
■ Vitesse estimates there are >200 remaining net undeveloped locations across
its asset, of which 36.3 were Proved Undeveloped as of December 31, 2022
Development across the asset offers high return reinvestment
opportunities
■ 761 gross (17.7 net) wells drilling, completing or permitted for development by
our operators
Low maintenance capex underpins free cash flow generation
11.0 MBoe/d(1)
Net Production
> 200
Net Estimated
Remaining Locations
"
$1,246 MM(2)
1P PV-10
Vitesse
VTS
67%
Oil Weighting
$845 MM(2)
PDP PV-10
> 30
Years of Drilling
Inventory
☐
■ ~45% reinvestment rate to hold production flat(3)
Note: Financial and operating information as of September 30, 2023 unless otherwise noted.
(1) Net production reflects third quarter 2023.
(2) Cawley, Gillespie & Associates, Inc. year-end reports as of December 31, 2022. WTI of $94.14/Bbl and Henry Hub of $6.36/MMBtu. PV-10 is a non-GAAP financial measure. See the Appendix for a
reconciliation to the most comparable GAAP measure.
(3) Defined as total capex divided by Adjusted EBITDA at $80 WTI / $3.50 HH.
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