Welcome to our dedicated page for Vermilion Energy news (Ticker: VET), a resource for investors and traders seeking the latest updates and insights on Vermilion Energy stock.
Vermilion Energy Inc. (VET) is an international oil and gas-producing company with a strong emphasis on natural gas, particularly liquids-rich natural gas in Canada and conventional natural gas in Europe, alongside low-decline oil assets. Its shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.
This news page aggregates company-issued announcements and market updates related to Vermilion’s operations, portfolio strategy and financial performance. Recent releases highlight transactions such as the sale of non-core Saskatchewan and Manitoba light oil assets, as well as changes in Vermilion’s equity holdings in Coelacanth Energy Inc. undertaken in support of its stated priority of reducing debt and enhancing business resiliency.
Investors can also follow updates on Vermilion’s quarterly operating and condensed financial results, including production volumes, realized commodity prices, fund flows from operations, free cash flow and net debt metrics. The company frequently reports on its drilling and development programs in areas such as the Deep Basin and Montney in Canada and its exploration and development activities in European gas markets.
In addition, Vermilion issues news about dividends, share buybacks, Investor Day events and conference calls, providing insight into its capital allocation framework and outlook for its global gas portfolio. This page allows readers to monitor how Vermilion’s strategic focus on liquids-rich Canadian gas, European conventional gas and low-decline oil assets is reflected in its ongoing corporate announcements.
Summary not available.
Vermilion Energy has responded to Total's announcement about the conversion of the Grandpuits refinery in France to a biofuels and bioplastics facility. This conversion, set to be completed by Q1 2021, affects Vermilion's crude oil production, currently at 5,000 bbl/d. Vermilion had anticipated this change and included contract provisions for a seamless transition to another Total refinery. The estimated increase in transportation costs due to this change is around $20 million annually. Vermilion remains committed to its operations in France, emphasizing long-term value potential.
Vermilion Energy reported Q2 2020 fund flows from operations of $82 million ($0.52/share), a 52% decline due to lower commodity prices from COVID-19 and the OPEC+ oil price war. Production increased by 3% to 100,366 boe/d, driven by North America, though European output dropped 13% due to curtailments. The company ended the quarter with $2.2 billion in net debt and $350 million in liquidity. Leadership changes included Lorenzo Donadeo as Executive Chairman. Vermilion maintained an AA ESG rating, reflecting its commitment to sustainability.