Vitesse Power introduced at the moment the completion of its beforehand introduced acquisition of Lucero Power. The association was authorised by Vitesse stockholders and Lucero shareholders on March 5, 2025 and March 6, 2025, respectively, and Lucero obtained the approval of the Courtroom of King’s Bench of Alberta on March 6, 2025.
The addition of Lucero’s operations will allow Vitesse to increase its property throughout the Bakken shale area, the place Lucero had roughly 6.4 Mboe per day of two-stream internet manufacturing in the course of the third quarter of 2024.
“We’re happy to finish the acquisition of Lucero, which is anticipated to extend our dividend and can present further liquidity to additional our capacity to make accretive acquisitions,” mentioned Bob Gerrity, Vitesse’s Chairman and Chief Govt Officer. “We’re grateful for the laborious work and dedication of the Vitesse and Lucero staff, who’ve been working diligently to assist us finalize this acquisition.”
See additionally: Vitesse Power to amass 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 frequent share of Lucero has the fitting to obtain 0.01239 of a share of Vitesse frequent inventory. The Vitesse shares to be issued to holders of Lucero shares will commerce on the New York Inventory Trade.
