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Vermilion Edits Capex Again; Down 31% from Original Budget
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Vermilion Energy Inc. reported its operating and unaudited financial results for the three and six months ended June 30, 2016.
The company has changed their 2016 capex numerous times over the past year:
Highlights: Achieved average production of 64,285 boe/d during Q2 2016, a decrease of 2% as compared to 65,389 boe/d in the prior quarter. Production increased 24% from 51,831 boe/d in Q2 2015, with higher volumes from our Irish, Netherlands, Australian, Canadian and US business units. Fund flows from operations ("FFO") for Q2 2016 was $126.6 million ($1.10/basic share(1)), an increase of 35% quarter-over-quarter and a 2% decrease year-over-year. The quarter-over-quarter increase in FFO was attributable to higher commodity prices and lower operating expenses from our ongoing focus on…- ✓ Full news archive — U.S., Canada & international coverage
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