On December 16, 2024, Vitesse Energy, Inc. announced its acquisition of Lucero Energy Corp. in an all-stock transaction valued at $222 million USD (approximately 316 million CAD). Lucero shareholders received 0.01239 shares of Vitesse stock per Lucero share, with closing expected in Q2 2025. The deal added Lucero’s 6.4 Mboe/day Bakken production and $56 million USD (80 million CAD) in cash, enhancing Vitesse’s scale and dividend-focused strategy.

Jefferies LLC and Evercore advised Vitesse, with legal counsel from Baker Botts L.L.P. and Blake, Cassels & Graydon LLP. RBC Capital Markets and Peters & Co. advised Lucero, supported by Burnet, Duckworth & Palmer LLP and Davis Graham & Stubbs LLP.