Exploration & Production | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program
Vermilion Energy Lowers 2015 Capex 22%
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Vermilion Energy Inc. has announced that our Board of Directors has approved a capital program of $525 million for 2015, a decrease of $150 million (22%) from our projected 2014 capital program expenditures of approximately $675 million.
In light of the decrease in crude oil prices since mid-2014, we have reduced our 2015 capital investment plans to ensure the continued strength of our balance sheet and the sustainability of our dividend should weak oil prices prevail over a protracted period. Should commodity prices weaken significantly, we have the flexibility to make further reductions in our capital program.
Despite our decreased 2015 capital budget, we continue to anticipate production growth of approximately 15% year-over-year and are maintaining our previous outlook for average…
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