Vermilion Energy Inc (VET) - NYSE
  • Wed, Jan. 6, 3:15 PM
    • Vermilion Energy (VET -6.3%) is lower after announcing a $285M planned capital budget for FY 2016, down 19% from preliminary guidance of $350M and 41% lower than projected 2015 expenditures of ~$485M, but the move is praised by analysts partly because it protects the dividend.
    • Macquarie upgrades shares to Outperform from Neutral, as VET's production outlook only fell by 500K boe/day to 62.5M-63.5M boe/day and the company found ~$65M of capex to cut for 2016 without materially affecting its production forecast.
    • Altacorp analysts note VET's continued focus on the sustainability of its balance sheet, the dividend and growth, in that order.
    | Wed, Jan. 6, 3:15 PM | 2 Comments
  • Aug. 12, 2015, 5:39 PM
    • Top gainers, as of 5.25 p.m.: PBYI +8.6%. NUS +6.4%. RNDY +5.0%. SVA +4.5%. NWSA +4.4%.
    • Top losers, as of 5.25p.m.: GLBL -12.6%. XNET -6.8%. CPA -4.4%. VET -3.5%. IBN -3.4%.
    | Aug. 12, 2015, 5:39 PM | 1 Comment
  • Dec. 8, 2014, 10:36 AM
    • Vermilion Energy (VET -5.5%) says it plans to cut 2015 capital spending by 22% Y/Y while still expecting production growth of 15% Y/Y and a steady dividend.
    • VET says it will reduce capital outlays by $150M to $525M to help sustain its dividend, and switch emphasis to natural gas plays, including in Europe.
    • Despite the cut in spending, VET says that due to projects coming on line, production should rise 15% Y/Y to 55K-57K boe/day including first gas from the Corrib gas field in Ireland beginning in mid-2015.
    | Dec. 8, 2014, 10:36 AM
  • Mar. 19, 2014, 11:12 AM
    • Vermillion Energy's (VET +2.4%) $400M purchase of Saskatchewan oil producing assets could set the stage for more acquisitions in the region, TD Securities says as it upgrades shares to Buy from Hold with a new $75 price target, up from $66.
    • TD says the new Canadian development area should help drive VET's free cash flow given the ~$60/boe cash flow netback and relatively low sustaining capital requirements.
    • The firm views VET as a core oil holding, driven by "a sustainable dividend growth business that generates top-quartile return on common equity and profit margins, compounded by a suite of assets that... provides significant option value to shareholders."
    | Mar. 19, 2014, 11:12 AM
  • Mar. 18, 2014, 2:06 PM
    • Vermillion Energy (VET +3.2%) agrees to acquire light oil producing assets in Saskatchewan from a private producer for $345M in cash and stock plus the assumption of $55M in debt.
    • The assets include 57K net acres of land (~80% undeveloped), seven oil batteries and preferential access to 50% or greater capacity at a solution gas facility that is under construction; 2014 production from the assets is projected at ~3,750 boe/day, with more than 90% of the production base to be operated by VET.
    • Due to the acquisition, VET raises its 2014 production guidance to 47.5K-48.5K boe/day, assuming eight months of contribution from the new assets.
    | Mar. 18, 2014, 2:06 PM | 1 Comment
  • Aug. 30, 2013, 5:34 PM
    | Aug. 30, 2013, 5:34 PM | 1 Comment
Company Description
Vermilion Energy, Inc. is engaged in the business of acquisition, exploration, development and production of oil and natural gas. It has operations in Australia, Canada, France, Ireland, Germany, United States of America and the Netherlands. The company was created when Vermilion Energy Trust... More
Industry: Oil & Gas Drilling & Exploration
Country: Canada