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Vermilion Energy Inc. Announces Restart of Wandoo Facility and Provides Operational Update
Vermilion Energy Inc. Announces Restart of Wandoo Facility and Provides Operational Update ...
About this update from Vermilion Energy Inc.
[{"type":"text","content":"\n \n \n \n Vermilion Energy Inc. Announces Restart of Wandoo Facility and Provides 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: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.33em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\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 Sept. 11, 2023\n \n \n /CNW/ - Vermilion Energy Inc. (\"Vermilion\", \"We\", \"Our\", or the \"Company\") (TSX: VET) (NYSE: VET) is pleased to provide an update on our\n \n Australia\n \n and\n \n Ireland\n \n operations and European gas hedge program.\n \n \n \n \n \n \n \n \n \n We are pleased to report that we now expect Q3 2023 production to come in at the upper end of our quarterly guidance range of 80,000 to 83,000 boe/d due to positive developments in\n \n Australia\n \n and\n \n Ireland\n \n .\n \n \n In\n \n Australia\n \n , we successfully completed the remaining inspection and repair work on our Wandoo facility and restarted production in early September without incident. Initial production rates are strong and\n \n Australia\n \n is forecasted to produce approximately 4,000 bbl/d in Q4 2023. The Wandoo asset has been in our portfolio since 2004 and has generated a significant amount of free cash flow (\"FCF\")\n \n (1)\n \n over this time frame. In 2022, Wandoo crude sold at a\n \n US$14\n \n premium to Brent, which drives very strong netbacks. Under current strip pricing we are forecasting over $100 million of FCF from\n \n Australia\n \n in 2024.\n \n \n In\n \n Ireland\n \n , we successfully completed the planned major turnaround at Corrib approximately five days ahead of schedule in August. Corrib is forecasted to produce approxima...