Vitesse Energy, Inc.VTS

Vitesse Energy, Inc. Leases Disclosure

10-KFiled Mar 2, 20261 min read
Leases
The Company is obligated under noncancelable leases primarily for facilities. Total expense under operating leases was $1.1 million, $0.6 million, and $0.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Leases with an initial term of 12 months or less are not recorded in the consolidated balance sheets.
The Company’s lease agreements do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at the lease commencement date, including the current rate on our collateralized revolving credit agreement, for the purpose of determining the present value of lease payments. The right-of-use assets of $4.1 million and $4.4 million as of December 31, 2025 and 2024, respectively, are recorded within Other noncurrent assets in the consolidated balance sheets. The related lease obligations of $4.8 million and $4.8 million as of December 31, 2025 and 2024, respectively, are recorded within Other noncurrent liabilities and Other current liabilities in the consolidated balance sheets.
As of December 31, 2025, maturities of the Company’s lease liabilities were as follows:
(in thousands)
2026
$
703 
2027
717 
2028
731 
2029
746 
2030
761 
Thereafter
3,406 
Total future lease payments
7,064 
Less: Imputed interest
2,224 
Present value of future lease payments
$
4,840 
As of December 31, 2025, the Company’s operating leases have weighted-average remaining lease terms and discount rates of 9.3 years and 8.4%, respectively.

Historical Timeline

Fiscal YearFiled
2025Mar 2, 2026Showing above
2024Mar 12, 2025
2023Feb 26, 2024
2022Feb 16, 2023

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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