Vitesse Energy Closes $220 Million Acquisition of Lucero’s Bakken Pureplay
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Vitesse Energy have completed the acquisition of Lucero Energy. The arrangement was approved by Vitesse stockholders and Lucero shareholders and Lucero received the approval of the Court of King’s Bench of Alberta.
“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,” added Gerrity.
M. Bruce Chernoff and Gary D. Reaves have been appointed to Vitesse’s board of directors. The additions expand Vitesse’s board to a total of nine directors. Vitesse’s leadership team will continue to serve in their respective capacities in the company.
Vitesse Energy is focused on returning capital to stockholders through owning financial interests predominantly as a non-operator in oil and gas wells drilled by leading US operators.
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