Business
Vermilion Energy Inc. Announces Q1 2022 Financial and Operational Update
Vermilion Energy Inc. Announces Q1 2022 Financial and Operational Update Canada...
About this update from Vermilion Energy Inc.
[{"type":"text","content":"\n \n \n \n Vermilion Energy Inc. Announces Q1 2022 Financial and Operational Update\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n April 19, 2022\n \n \n /CNW/ - Vermilion Energy Inc. (\"Vermilion\", \"We\", \"Our\", \"Us\" or the \"Company\") (TSX: VET) (NYSE: VET) is pleased to provide a financial and operational update for Q1 2022.\n \n \n \n \n \n \n \n \n \n \n Q1 2022 Highlights\n \n \n \n \n Production of approximately 86,200 boe/d exceeded the upper end of our initial 2022 guidance of 83,000 – 85,000 boe/d\n \n \n Strong commodity prices during the quarter, including premium European gas, resulted in an estimated operating netback\n \n (1)\n \n of\n \n $59.72\n \n /boe, including the impact from hedging\n \n \n Fund flows from operations\n \n (2)\n \n are estimated to be\n \n $380\n \n to\n \n $390 million\n \n (cash flows from operating activities estimated to be\n \n $330\n \n to\n \n $340 million\n \n ), including the impact from hedging\n \n \n Estimated exploration and development (\"E&D\") capital expenditures\n \n (3)\n \n of\n \n $85 million\n \n (cash flow used in investing activities totaled\n \n $110 million\n \n ), resulting in approximately\n \n $295\n \n to\n \n $305 million\n \n of free cash flow (\"FCF\")\n \n (4)\n \n \n \n We successfully executed our Q1 2022 drilling program in\n \n Canada\n \n and\n \n Germany\n \n and recently commenced drilling in\n \n the ...