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Vermilion Energy Inc. reports developments tied to its role as a global gas producer and oil and gas exploration and production company. Its portfolio centers on liquids-rich natural gas in Canada, conventional natural gas in Europe, and low-decline oil assets, with common shares trading on the TSX and NYSE under the symbol VET.
Recurring updates cover operating and financial results, production and reserve metrics, exploration and development spending, balance-sheet and capital-allocation actions, cash dividend declarations, and shareholder returns. Vermilion also reports governance matters from annual meetings, including director elections, auditor appointments, shareholder voting results, and other common-share matters.
Vermilion Energy (TSX: VET, NYSE: VET) will release its Q2 2022 financial results on August 11, 2022, after market close. The unaudited financial statements and management analysis for the three and six months ending June 30, 2022 will be accessible on SEDAR, EDGAR, and the company's website. A conference call will occur on August 12, 2022, at 7:00 AM MST to discuss the results. Investors can access the call at www.vermilionenergy.com. Vermilion emphasizes free cash flow and strategic acquisitions.
Vermilion Energy Inc. (TSX: VET) announced approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB) to repurchase up to 16,076,666 common shares, about 10% of its public float, starting July 6, 2022, and expiring no later than July 5, 2023. This move supports Vermilion's strategy to return capital to shareholders, having paid over $40 per share in dividends since 2003. The company aims to enhance shareholder returns as it approaches a debt target of $1.2 billion and projects $1.8 billion in free cash flow for 2022.
Vermilion Energy Inc. (TSX: VET, NYSE: VET) announced on June 1, 2022, the appointment of Myron Stadnyk to its Board of Directors. With over 35 years of industry experience, he previously served as President and CEO of ARC Resources Ltd., successfully transforming it into a leading Montney producer. Stadnyk also holds positions on the boards of Crescent Point Energy Corp. and Prairie Sky Royalty Ltd. His expertise in operational effectiveness and governance is expected to enhance Vermilion's ongoing success.
Vermilion Energy has successfully closed the acquisition of Leucrotta Exploration, targeting the Mica property with 81,000 acres of Montney mineral rights in Alberta and British Columbia. The deal, valued at $1.73 per Leucrotta share, aims to enhance Vermilion's drilling prospects, identifying 275 low-risk drilling locations expected to deliver strong returns over the next two decades. The recent surge in North American gas prices bolsters the profitability of this acquisition, which integrates seamlessly into Vermilion's existing Canadian asset base.
Vermilion Energy Inc. (TSX: VET) announced the voting results from its annual meeting held on May 11, 2022. A total of 69,579,996 common shares, or 42.75% of issued shares, were voted. Key resolutions included fixing the number of directors at nine, electing ten nominees as directors, appointing Deloitte LLP as auditors, and approving the Omnibus Incentive Plan. Notably, the resolutions received strong support, with over 96% voting in favor of each. The company emphasizes free cash flow generation and returning capital to investors while maintaining high health and safety standards.
Vermilion Energy Inc. (TSX: VET, NYSE: VET) announced a cash dividend of $0.06 CDN per share, payable on July 15, 2022, to shareholders of record on June 30, 2022. The ex-dividend date is set for June 29, 2022. This dividend qualifies as an eligible dividend under the Income Tax Act in Canada. Vermilion is focused on generating free cash flow and returning capital to investors, with operations in North America, Europe, and Australia. The company's emphasis on health, safety, and environmental sustainability has garnered recognition from ESG agencies.
Vermilion Energy reported Q1 2022 financial results showcasing significant growth in fund flows from operations (FFO) at $390 million, a 21% increase from the prior quarter, and free cash flow (FCF) of $305 million, up 73%. Production averaged 86,213 boe/d, a 2% rise driven by North American and international assets. The company announced strategic acquisitions, including Leucrotta Exploration for $477 million, aiming to enhance its long-term cash flow and inventory. Vermilion reinstated a $0.06 CDN quarterly dividend and aims to achieve a $1.2 billion net debt target by the second half of 2022.
Vermilion Energy Inc. (TSX: VET) has successfully closed a private offering of US$400 million in 8-year senior unsecured notes, priced at 99.241% of par. The notes, which carry a fixed coupon of 6.875% per annum, are set to mature on May 1, 2030. Proceeds will be used to reduce the outstanding balance on Vermilion's revolving credit facility, which has been extended to May 29, 2026 and reduced to $1.6 billion. The offering was made on a prospectus-exempt basis in Canada and to qualified institutional buyers in the U.S.
Vermilion Energy Inc. announced a private offering of US$400 million in 8-year senior unsecured notes, priced at 99.241% of par with a 6.875% coupon, maturing on May 1, 2030. The offering is set to close on or about April 26, 2022. Proceeds will be used to reduce the credit facility from $2.1 billion to $1.6 billion. The notes will not be registered under U.S. Securities laws and will be offered solely to accredited institutional buyers. Forward-looking statements highlight the uncertainties surrounding the offering and its impact on the company’s financials.
Vermilion Energy Inc. (TSX: VET, NYSE: VET) has reported strong Q1 2022 results with production exceeding guidance at 86,200 boe/d. The operating netback is estimated at $59.72/boe, supported by high commodity prices. Fund flows from operations are projected between $380 - $390 million, while free cash flow is expected to be $295 - $305 million. Net debt decreased by $280 million to $1.365 billion. Vermilion aims to meet a $1.2 billion debt target in the second half of 2022, alongside acquisitions of Leucrotta Exploration and the Corrib project.