Financial Data and Key Metrics Changes - Production during Q3 2024 averaged 84,173 BOEs per day, reflecting a 7% increase on a per share basis year-over-year [5][6] - Fund flows from operations reached $275 million, or $1.76 per share, representing a 19% increase over the prior quarter [6][9] - Free cash flow for the quarter was $154 million, with $59 million returned to shareholders, including $19 million in dividends and $40 million in share buybacks [9][10] - Net debt was reduced by $73 million to $833 million, resulting in a net debt trailing fund flow ratio of 0.6 times, the lowest in 15 years [11] Business Line Data and Key Metrics Changes - European gas production increased by over 40% in the last two years, with Q3 production averaging 30,237 BOEs per day [16][17] - North American operations averaged 53,936 BOEs per day in Q3, with a focus on increasing production from the Mica asset [29][35] - Production from the SA-10 block in Croatia averaged 1,855 BOEs per day, currently exceeding 2,000 BOEs per day [26] Market Data and Key Metrics Changes - The corporate realized gas price for the quarter was $6.57 per MCF, nearly 10 times higher than the AECO price of $0.69 per MCF [7][43] - European gas prices have increased over 30% year-to-date, with current prices around $17 to $18 per MCF for next year [14][65] Company Strategy and Development Direction - The company aims to grow organically in Europe, particularly in Germany, Croatia, and the Netherlands, while seeking strategic acquisitions [15][16] - The focus remains on maintaining a diversified portfolio to generate stable and higher cash flows [7][15] - The company plans to continue its share buyback program and return 50% of excess free cash to shareholders in 2024 [47][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about exploration success in Europe and the potential for future organic growth [44][46] - The company is well-positioned to execute its plans due to a robust asset base and strong balance sheet [48] - The outlook for European gas remains positive, with expectations of continued robust pricing and demand [66][69] Other Important Information - The company has identified over 1.7 million net acres of undeveloped land in Europe, providing a decade of drilling inventory [21] - The share buyback program has resulted in a reduction of the outstanding share count to approximately 155 million [10][37] Q&A Session Summary Question: Impact of the second exploration well in Germany - Management noted a successful discovery with a potential gas in place of over 100 BCF, indicating positive follow-up opportunities [50][51] Question: Capital allocation strategy regarding debt and share buybacks - The company maintains a 50-50 allocation policy for free cash flow between debt reduction and shareholder returns, emphasizing prudent fiscal management [55][56] Question: Production expectations from the SA-7 block in Croatia - Management anticipates a run rate of 5,000 to 8,000 BOEs per day if all wells on the SA-7 block are successful [60][61] Question: European gas market outlook and acquisition appetite - The company continues to evaluate acquisition opportunities, particularly in the Netherlands, while observing robust pricing in the European gas market [64][66] Question: Infrastructure capacity in Germany - Management confirmed existing infrastructure capacity is adequate for current operations, with potential for future upgrades as needed [71][73] Question: M&A strategy versus organic growth - The company focuses on sustainable free cash flow and considers both M&A and organic growth opportunities based on long-term value [84][87]

Vermilion Energy (NYSE: VET ) is a Canadian oil & natural gas producer, with a diversified production profile. The company is listed in the U.S. and Canada (TSX: VET:CA ). There is production in Canada, UnitedIf you like this article and are interested in more frequent analysis of my holding companies, real-time notifications on portfolio changes, together with macro and industry analysis. I would encourage you to have a look at my marketplace service, Off The Beaten Path.I primarily invest in turnarounds i ...

Q3 2024 THIRD QUARTER REPORT excellence. trust. Respect. Responsibility. INTERNATIONALLY DIVERSIFIED | FREE CASH FLOW FOCUSED VERMILION Exhibit 99.1 Disclaimer Certain statements included or incorporated by reference in this document may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", or simila ...

Vermilion Energy (VET) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -27.27%. A quarter ago, it was expected that this oil and natural gas explorer would post earnings of $0.31 per share when it actually produced a loss of $0.38, delivering a surprise of -222.58%.Over the last four ...

CALGARY, AB, Nov. 6, 2024 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and nine months ended September 30, 2024.The unaudited interim financial statements and management discussion and analysis for the three and nine months ended September 30, 2024 will be available on the System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") at www.sedarplus.ca, on ED ...

CALGARY, AB, Nov. 6, 2024 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion") (TSX: VET) (NYSE: VET) is pleased to announce a cash dividend of $0.12 CDN per common share, payable on January 15, 2025 to all shareholders of record on December 31, 2024. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada).  About VermilionVermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing assets ...

CALGARY, AB, Oct. 23, 2024 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", or the "Company") (TSX: VET) (NYSE: VET) will release its 2024 third quarter operating and condensed financial results on Wednesday, November 6, 2024 after the close of North American markets. The unaudited interim financial statements and management discussion and analysis for the three and nine months ended September 30, 2024 will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at ...

Vermilion Energy Inc. (NYSE: NYSE: VET ) is a global oil and gas company listed on the Canadian Stock Exchange (TSX: TSX: VET:CA ) in addition to the U.S. It has a balanced production mix between oil and I am a full-time investor focusing on high-quality and growth companies. One of my other major areas is stocks with high starting dividends and low valuations. I regularly use EVA framework in addition to the normal accounting metrics. I try to have a portfolio balance between dividend-paying stocks and sto ...

CALGARY, AB, Sept. 10, 2024 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", or the "Company") (TSX: VET) (NYSE: VET) is pleased to provide an operational update on key projects. In Germany, we successfully completed testing operations for our first deep gas exploration well drilled earlier this year. The well was completed in the Rotliegend zone at a depth of approximately 5,000 meters and flow tested at a restricted rate of 17 mmcf/d(1) of natural gas with a wellhead pressure of 4,625 psi. ...

Vermilion Energy Inc. (NYSE:VET) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Dion Hatcher - President and CEO Lars Glemser - VP and CFO Conference Call Participants Operator Good morning. My name is Sylvie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Vermilion Energy Q2 Conference Call. Note that all lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question- ...