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Vermilion Production Up 30% Year Over Year
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Vermilion Energy Inc. has reported operating and unaudited financial results for the three months ended March 31, 2016.
Highlights Achieved average production of 65,389 boe/d during the first quarter of 2016, an increase of 7% as compared to 61,058 boe/d in the prior quarter, with significant increases recorded in our Irish and Canadian operations. Production increased 30% from 50,386 boe/d in the first quarter of 2015, with higher volumes from our Irish, French, Netherlands, Australian, Canadian and U.S. business units. During Q1, we announced a reduction in our 2016 E&D capital budget from $285 million to $235 million. Despite the $50 million reduction in capital investment, we still anticipate delivering nearly 10% per share production growth on a year-over-year basis. Our production…- ✓ Full news archive — U.S., Canada & international coverage
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