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Vitesse Settles Legal Dispute with Hess, Will Receive $24M and Take Control of Its Gas Output
Benzinga·06/04/2025 10:14:12
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As previously disclosed, Vitesse Energy, Inc. ("VTS") was the plaintiff in an ongoing dispute in state court in North Dakota with one of its operators related to post-production deductions from revenues. The trial was scheduled to begin June 16, 2025. Effective as of May 28, 2025, VTS has resolved this pending litigation in North Dakota with Hess. VTS will receive a one-time cash payment of $24 million no later than June 25, 2025, has elected to take virtually all of its gas production from Hess-operated wells in-kind commencing July 1, 2025, and has entered into long term gas gathering, processing and marketing agreements with Hess affiliates.
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① During the campaign period, US stocks, US stocks short selling, US stock options, Hong Kong stocks, and A-shares trading will maintain at $0 commission, and no subscription/redemption fees for mutual fund transactions. $0 fee offer has a time limit, until further notice. For more information, please visit: https://www.webull.hk/pricing
Webull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.
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