Vitesse Expects Q4 Oil & Gas Production To Average 12,300 To 13,000 Boe Per Day, Up From Approximately 11,000 Boe Per Day In Q3 Of 2023. This Results In FY23 Production Of 11,500-11,700 Boe. 2023 Capital Expenditures Are Now Expected To Be $110M-$130M
Portfolio Pulse from Benzinga Newsdesk
Vitesse expects its Q4 oil & gas production to average 12,300 to 13,000 Boe per day, up from approximately 11,000 Boe per day in Q3 of 2023. This results in FY23 production of 11,500-11,700 Boe. The company's 2023 capital expenditures are now expected to be $110M-$130M.
October 09, 2023 | 11:08 am
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Vitesse's increased Q4 production and higher capital expenditures for 2023 could indicate a positive outlook for the company's performance.
The increase in Vitesse's Q4 production and the higher capital expenditures for 2023 suggest that the company is expecting to increase its operations and invest more in its business. This could lead to higher revenues and potentially a higher stock price in the short term.
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