Vermilion Energy Financial and Operational Overview
VERMILION
ENERGY
2020 RESULTS TO-DATE
2020
Guidance
Q3 2020
YTD 2020
Average Production
boe/d
94,000-96,000
95,471
97,656
% Crude oil, condensate and NGLS
%
55%
55%
55%
% Natural gas
%
45%
45%
45%
Capital Expenditures
$MM
$350-$370
$31
$307
Petroleum and natural gas sales
$MM
$282
$803
Fund Flows from Operations (FFO)
$MM
$115
$367
FFO per share
Net Debt
$/share*
$0.73
$2.33
$MM
$2,136
$2,136
Q3 2020 OPERATIONAL REVIEW
European production averaged 25,935 in Q3 2020, an increase of 3% from the prior quarter primarily due to higher production in France following the restart of the
Grandpuits refinery in mid-June, partially offset by a planned turnaround in Ireland and Germany and natural declines across all other European business units.
North American production averaged 64,986 boe/d in Q3 2020, a decrease of 7% from the prior quarter. The decrease was primarily due to natural decline and limited
capital investment as a result of the front-end-weighted capital program and reduced capital budget announced earlier in the year in response to the COVID-19 pandemic
and resulting commodity price collapse.
Australian production averaged 4,549 bbl/d in Q3 2020, a 14% decrease from the prior quarter primarily due to natural decline and an unplanned 4-day shutdown to
clean out one of the separator vessels.
*Fully-diluted shares.
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