Vitesse Secures Chevron Operated DJ Basin Assets in $26 Million Expansion

Vitesse Energy Inc. has expanded its position in Colorado’s Denver-Julesburg Basin through the acquisition of oil and gas assets that it will not operate. The company acquired the interests from an undisclosed seller for an initial unadjusted purchase price of $26 million.

The assets lie primarily in Weld County, Colorado, and are entirely operated by Chevron. Vitesse described the transaction in a release dated Sept. 16, following the closing of the acquisition one day earlier.

Jamie Benard, Vitesse’s chief executive officer and president, said the acquired interests add “a high-quality, predominantly proved developed producing asset base,” to the company. The transaction places those assets within Vitesse’s existing DJ basin position under Chevron’s operatorship.

Vitesse reported that the acquired assets carry an average working interest of 4.1%. That fractional ownership structure is consistent with the company’s previously described holdings in productive wells and new drilling across several basins.

The transaction also adds 819 gross wells to Vitesse’s database. The company said the expanded well information will strengthen its underwriting of future opportunities in the DJ basin.

Vitesse specifically cited Chevron as a leading operator supporting its existing position in the basin. All of the assets included in the latest transaction are under Chevron’s operation, while Vitesse holds the acquired working interests.

Production from the acquired assets is expected to average about 900 boe/d during the 12 months following the transaction’s effective date. Vitesse identified June 1, 2026, as that effective date.

The production estimate is presented on a two stream basis. Oil is expected to account for 28% of the anticipated output during the stated 12 month period, according to the company.

Alongside the acquisition, Vitesse entered into commodity derivative contracts covering a significant portion of the acquired production. Those contracts extend through 2030, although the company did not specify the exact share of production covered.

Vitesse said the derivative contracts were established to support the returns used in underwriting the transaction. The contracts are directly connected with the newly acquired production and span several years beyond the acquisition’s effective date.

The deal closed on Sept. 15, 2026. Its announced $26 million value represents the initial unadjusted purchase price, and the seller’s identity was not disclosed in the source material.

Before the closing, Vitesse outlined its broader asset position in an August 2026 investor presentation. The company said it held fractional working interests in producing wells and new drilling across the Williston, Powder River, and DJ basins.

Those interests are not operated by Vitesse and carried an average working interest of 3.6%, according to the presentation. The newly acquired DJ basin package has a higher stated average working interest of 4.1%.

The acquisition therefore adds Chevron operated production, gross well exposure, and additional asset data to Vitesse’s existing DJ basin holdings. Its disclosed components include the 819 gross wells, anticipated production of about 900 boe/d, and commodity derivative coverage through 2030.

Vitesse’s announcement centers on a producing asset base rather than assets requiring the company to assume operations. Chevron remains the operator, while Vitesse adds the fractional oil and gas interests to its portfolio following the Sept. 15 closing.