Vitesse Energy will grow its Bakken asset base with the acquisition of Canada’s Lucero Energy Corp. for USD 222 million, the US company said on Tuesday.
Under the terms of the agreement, Lucero shareholders will receive 0.01239 of a share of Vitesse common stock for each common share of Lucero. The addition of Lucero’s operations will enable Vitesse to expand its assets across the Bakken shale region, where Lucero had approximately 6.4 Mboe per day of two-stream net production during the third quarter of 2024.