Vitesse Energy Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
$VTS
Oil & Gas Production
Energy
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):10/22/2024
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Item 1.01 Entry into a Material Definitive Agreement
On October 22, 2024, Vitesse Energy, Inc. (the “Company”) entered into an amendment (the “Credit Agreement Amendment”) to its Second Amended and Restated Credit Agreement, as amended from time to time, among the Company, as borrower, Wells Fargo Bank, N.A., as administrative agent, and the lenders party thereto, dated as of January 13, 2023. Pursuant to the Credit Agreement Amendment, the Company’s semi-annual borrowing base redetermination was completed and, among other things: (i) the maturity date was extended to a date that is four years following the effective date of the Credit Agreement Amendment, (ii) the borrowing base was reaffirmed at $245 million (iii) the elected commitment amount was decreased from $245 million to $235 million and (iv) the definition of the term “Applicable Margin” was amended to reduce the rates in the Utilization Grid for SOFR Loans and ABR Loans (as each of those terms is defined in the Credit Agreement) by 0.25%.
The foregoing description of the Credit Agreement Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement Amendment, which will be attached as an exhibit to the Company’s quarterly report on Form 10-Q for the quarter ended September 30, 2024.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
Item 9.01 Financial Statements and Exhibits
(d)
Exhibit Number | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 23, 2024 | VITESSE ENERGY, INC. | ||||
| /s/ James P. Henderson | |||||
| James P. Henderson | |||||
| Chief Financial Officer | |||||