By Elias Schisgall
Vitesse Energy is hedging a portion of its expected oil, natural gas, and natural gas liquids production as the war in Iran brings volatility to commodities markets.
The company, which owns a portfolio of oil and gas assets as a non-operator, said it has approximately 67% of its expected 2026 oil production hedged, based on the midpoint of its 2026 guidance. It said the hedged positions are at price levels that will support its dividend.
The company will pay a quarterly dividend of 43.75 cents a share at the end of this month, which it cut from a previous level of 56.25 cents a share late last month. That implies a yearly payout of $1.75 a share and an annual yield of about 8.8%, based on the company's Friday closing price of $19.79.
The company also said that M. Bruce Chernoff resigned from its board of directors, citing personal time constraints.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
March 13, 2026 16:27 ET (20:27 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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