Vitesse Energy Inc. has resolved its ongoing litigation with Hess in North Dakota related to post-production deductions from revenues. The case, which was set to go to trial on June 16, 2025, concluded with Vitesse receiving a one-time cash payment of $24 million, expected by June 25, 2025. As part of the resolution, Vitesse will take nearly all of its gas production in-kind from Hess-operated wells starting July 1, 2025. Additionally, Vitesse has entered into long-term agreements for gas gathering, processing, and marketing with Hess affiliates.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.