Vermilion Energy Financial and Operational Overview
VERMILION
ENERGY
GLOBAL CRUDE OIL PRICING ADVANTAGE
► Vermilion has significant leverage to oil prices
An increase of US$1/bbl generates approximately
$20MM of incremental FCF
► Approximately 33% of Vermilion's crude oil production is
priced with reference to Dated Brent*
Vermilion's Australian crude was sold at an average
premium of US$16/bbl to Dated Brent during the first nine
months of 2020
OIL BENCHMARKS
2020E VET
Q3 2020 VET Premium
Crude Oil Mix
/ (Discount) to WTI
(US$/bbl)*
Brent
33%
$4.00
Guernsey Light Sweet**
(Wyoming Light Oil)
7%
($2.00)
C5+ (AB Condy)
6%
($3.50)
MSW (AB Light Oil)***
11%
($3.50)
In aggregate, Vermilion's global crude oil portfolio sells at
an approximate US$0.75 discount to WTI*
LSB (SE SK Light Oil)***
43%
($3.25)
Total
100%
($0.75)
VERMILION'S OIL PORTFOLIO PROVIDES EXPOSURE TO PRICE-ADVANTAGED BENCHMARKS
Based on internal production estimates and actual realized differentials from Q3 2020 rounded to the nearest $0.25. ** Reflects weighted average of Brent plus the Pyrenees price marker, upon which Australia's Wandoo
crude is benchmarked. *** "LSB" - Light Sour Blend; "C5+" - Condensate; "MSW" - Mixed Sweet Blend; "WCS" - Western Canadian Select. *** Powder River Basin differential reflects production weighted average differential
incorporating contracts in place on Hilight production.
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