Vermilion Energy Inc. Common (Canada) (VET) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Vermilion Q1 2026 conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for an operator. This call is being recorded on May 6, 2026. I would now like to turn the call over to Dion Hatcher, President and CEO. Please go ahead. Good morning, ladies and gentlemen. I'm Dion Hatcher, President and CEO of Vermilion Energy. With me today are Lars Glamster, Vice President and CFO, Darcy Kerwin, Vice President, International and HSE, Brandon Kuwait, Vice President, North America, Lara Conrad, Vice President, Business Development, and Travis Thorgerson, Director of Investor Relations and Corporate Planning. Please refer to our advisory and forward-looking statements in our Q1 release. It describes the forward-looking information, non-GAAP measures, and oil and gas terms used today, and outlines the risk factors and assumptions relevant to this discussion. I'd like to begin today with a comment on the macro environment. The first quarter of 2026 was marked by heightened geopolitical uncertainty, with continuing impacts on the global energy markets today. This uncertainty underscores the critical importance of energy security, Vermillion's substantial resource base, with exposure to multiple commodities, including gas production in Europe, and liquid production tied to Brent benchmarks, provides unique exposure to global prices. This diversity of production extends to our gas-weighted assets in Canada. We have strategically positioned ourselves in the oily window on the mountaineer to have numerous liquid-weighted zones in the deep basin. Operationally,...