Vermilion Energy Financial and Operational Overview
BOE/D
VERMILION
ENERGY
VERMILION PRODUCTION
105,000
90,000
75,000
60,000
45,000
30,000
15,000
11
.........
0
2003
E&D CAPEX
AS % OF FFO**
2004 2005 2006 2007 2008 2009* 2010* 2011* 2012* 2013* 2014* 2015* 2016 2017 2018 2019 2020E
50% 36% 40% 38% 43% 32% 59% 115% 100% 77% 77% 80%
■North America
■ Europe
85%
43% 49% 57%
53% 64%
Australia
LOW REINVESTMENT RATIO DRIVES STRONG FREE CASH FLOW
*2009-2015: Includes E&D Capex of $496MM and negative FFO of $46MM associated with the Corrib project in Ireland, which produced first gas on December 30, 2015. ** 2020 FFO estimate based on 10 months of actuals,
remainder of year at November 23, 2020 strip pricing: Brent (USS/bbl) $41.13; WTI US$38.96/bbl; LSB = WTI less US$5.27/bbl; TTF $4.09/mmbtu; AECO $2.24/mmbtu; CAD/USD 1.34; CAD/EUR 1.53 and CAD/AUD 0.92. Refer to/ET: TSX NYSE
the "FFO Sensitivity" slide in the Supplemental Information section of this presentation for more details on pricing assumptions. Estimates includes existing hedges and excludes interest.
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