5/5/2026

speaker
Operator
Conference Operator

Greetings. Welcome to the WITES Energy First Quarter 2026 Earnings Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. Please note, this conference is being recorded. I will now turn the conference over to the Director, Investor Relations and Business Development at WITES, Ben Messier. Thank you. You may begin.

speaker
Ben Messier
Director, Investor Relations and Business Development

Good morning, everyone, and thanks for joining. Today we will be discussing our first quarter 2026 results. Our 10Q and earnings release were released yesterday after market close and an updated investor presentation can be found on the Vitesse website. I'm joined this morning by our CEO and President Jamie Bernard, our CFO Jimmy Henderson, and Brian Cree, our former president who is with us in a senior advisor capacity. Before we begin, Please be reminded that this call may contain estimates, projections, and other forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are subject to several risks and uncertainties, many of which are beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations. Please review our earnings release and risk factors discussed in our filings with the SEC for additional information. In addition, today's discussion may reference non-GAAP financial measures. For reconciliation of historical non-GAAP financial measures to the most directly applicable GAAP measure, please reference our 10Q and earnings release. Now I will turn the call over to Vitesse's CEO and President, Jamie Bernard.

speaker
Jamie Bernard
CEO and President

Thank you, Ben. Good morning, everyone, and thank you for joining today's call. It's a privilege to begin my tenure as CEO and President of Vitesse as of last Friday. I want to thank the group for their hard work getting us to where we are today, and I look forward to building on the strong foundation already in place. I want to thank Brian Cree in particular for his commitment to ensuring a seamless handoff and for his continued partnership as a senior advisor through this transition. Vitesse's primary objective of returning capital to stockholders has not changed. Our board reaffirmed that commitment last week in declaring our second quarter cash dividend at an annualized rate of $1.75 per share. Our fundamental strategy remains consistent, disciplined capital allocation towards high rate of return opportunities. This includes organic development of our long duration asset base, purchases of near-term development opportunities and accretive acquisitions. We will continue to maintain a conservative balance sheet and hedge at prices that support our dividend. The Powder River Basin acquisition that closed in early April is a good example of that strategy in action. It is accretive in all key financial metrics and funded with equity to preserve balance sheet flexibility. You should expect more of the same discipline going forward. I'll now turn the call over to Brian Cree to provide more detail on our results and operations.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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