Vermilion Energy presented at EnerCom’s The Oil & Gas Conference®
During Vermilion’s breakout session, management was asked the following questions:
- What drilling activity is going on in the Eastern Powder River Play (Wyoming)?
- How much does one of these wells cost?
- How long are the laterals in these wells?
- What percentage of your total CAPEX goes into France?
- How many net acres do you own in France?
- How much running room do you have in France?
- How many of your 1.1 million acres in Germany have you drilled yet?
- Can you grow in Germany?
- Will the Saskatchewan area get more activity/spending?
- Do you have the intention to cut dividend?
- In your 10 year plan, what is your planed production growth on per share basis?
- Do you have any new current acquisition targets in Canada? Or internationally?
- Is the current plan to leave new acquisitions on the sideline, and focus growing what you have?
- How many employees do you have in the field? What’s the percentage of field personnel?
- What are the play types you are targeting in Central & Eastern Europe?
- Are you the operator in all these fields/assets in Central & Eastern Europe?
- What are your cost savings overseas vs. in North America?
You can listen to Vermilion’s presentation by clicking here.
For the company’s second quarter results, click here.
Vermilion Energy Inc. (ticker: VET) is a Calgary, Alberta based international oil and gas producer. Vermilion adheres to a value creation strategy through the execution of full cycle exploration and production programs. The company is focused on the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia. Vermilion targets annual organic production growth, and trades on the Toronto Stock Exchange and the New York Stock Exchange.
The company entered into a definitive purchase and sale agreement for operated and non-operated interests in five oil and three gas producing fields in Germany from Engie E&P Deutschland GmbH, for total consideration of €33 million ($47.9 million), with an expected closing date in Q4 2016. Vermilion will b of six of the eight producing fields. The acquisition adds another low decline rate (approximately 10%) asset to the company’s portfolio, and provides their first operated producing properties in Germany, further strengthening their presence in Germany.
On June 9, 2016, the four exploration blocks conditionally granted to Vermilion were ratified be the operator of the assets in the Republic of Croatia. The exploration blocks consist of approximately 2.35 million gross acres (100% working interest), with a substantial portion of the acreage located near existing crude oil and natural gas fields in northeast Croatia.
The company achieved average production of 64,285 boe/d during Q2 2016, a decrease of 2% as compared to 65,389 boe/d the prior quarter. Production increased 24% from 51,831 boe/d in Q2 2015, with higher volumes from the company’s Irish, Netherlands, Australian, Canadian and US business units.
