September 2018 Investor Presentation – Vermilion Energy Inc.

Vermilion Energy Inc. · Sep 13, 2018 · 102 slides

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INTERNATIONALLY DIVERSIFIED SUSTAINABLE GROWTH AND INCOME SEPTEMBER 2018
VERMILIONS KEY ATTRIBUTES Global independent E&P with leading positions in high netback businesses in Europe, North America and Australia Self-funded growth-and-income model supported by high margins, low decline rates and strong…
CAPITAL MARKETS SUMMARY Market Summary Trading Price (August 29, 2018) 41.96 (TSX), 32.53 (NYSE) Ticker Symbol (TSX & NYSE) VET Shares Outstanding (June 30, 2018) 152.4 million Average Daily Trading Volume (shares) 0.9 million…
CORE OPERATING AREAS 2018E PRE-SPARTAN 2018E POST-SPARTAN ACQUISITION ACQUISITION (ANNUALIZED) NORTH PRODUCTION* AMERICA EUR N.A. EUR 35% N.A. 47% 46% 60% AUS AUS 5% 7% EUROPE N.A. EUR FFO* EUR 34% 37% N.A.…
VERMILION HISTORY Issued senior Launched as an Alberta-based oil & unsecured notes in Canadian gas exploration and production company Converted to High Yield market Issued senior IPO in April 1994 at 0.30 per share Vermilion…
STRATEGY Self-funded production and dividend growth model Targeting free cash flow and dividend yield compression through per-share growth and risk reduction (low financial and Capital Markets Model operating leverage, consistent…
SUSTAINABILITY We recognize an energy transition is occurring, and we are a part of the transition At the same time, we are realistic that oil and gas consumption will continue during the transition, and will in fact increase over…
PRODUCTION GROWTH AND CAPEX ANNUAL PRODUCTION VS E&D CAPITAL EXPENDITURES 13% CAGR PRE-SPARTAN 100 800 17% CAGR 700 80 600 MBOE / D 500 MM 60 400 40 6% CAGR 300 200 20 100 0 0 2003 2004 2005 2006…
PRODUCTION AND RESERVES PER SHARE PRODUCTION PER SHARE RESERVES PER SHARE 250 3.5 H2 2018E Annualized 3.0 2P RESERVES (MBOE) PER SHARE 200 BOE PER THOUSAND SHARES 2.5 150 2.0 1.5 100 1.0 50 0.5 0 0 2012…
PRODUCTION GROWTH PER SHARE DEBT-AND-DIVIDEND-ADJUSTED INDEXED PRODUCTION PER SHARE (BASE VALUE = 100)* (INCLUDES PARTIAL YEAR IMPACT OF SPE ACQUISITION) COMPANY 250 (% OF PRODUCTION FROM N.A. GAS)** PXT (0%) TOU (84%) 200 VET…
E&D CAPITAL BUDGET Capital Expenditures by Country 2014 Actuals 2015 Actuals 2016 Actuals 2017 Actuals 2018 Budget* (MM) (MM) (MM) (MM) (MM) Canada 336 202 62 149 260 France 148 92 69 73 79 Netherlands 62 47 24 31 23 Germany 3 5 4…
FFO / FCF FFO FCF (CORPORATE ERA) 1,200 ANNUALIZED WITH ANNUALIZED WITH 500 SPARTAN SPARTAN 1,000 400 FFO LESS E&D CAPEX* (MM) PRE-SPARTAN PRE-SPARTAN 800 300 FFO (MM) 600 200 400 100 200 0 0 -100 2010…
FFO AND FCF PER SHARE FFO PER SHARE FCF PER SHARE 8.00 120 4.00 120 H2 2018E Annualized H2 2018E Annualized 7.00 3.50 100 100 FCF PER SHARE (/SHARE)** FFO PER SHARE (/SHARE) 6.00 3.00 80 80 WTI (US/BBL) WTI…
FFO SENSITIVITY 2018 FORECAST FFO (INCLUDES PARTIAL YEAR SPE) (CMM)* COMMODITY ASSUMPTIONS (STRIP)*** WTI (US/BBL) 2018E 55 60 65 70 75 80 TTF (C/MMBTU) 7.00 829 863 893 923 952 981 Brent (US/bbl) 74.99 8.00 834 868 898 928…
FREE CASH FLOW GENERATION VS INDUSTRY CUMULATIVE FREE CASH FLOW 2018E THROUGH 2020E 2,500 2,000 1,500 CUMULATIVE FCF (MM) 1,000 500 0 -500 -1,000 VERMILION PROVIDES BEST-IN-CLASS FCF GENERATION OVER THE…
FREE CASH FLOW YIELD 2019E DEBT-ADJUSTED FREE CASH FLOW (DAFCF) TO ENTERPRISE VALUE (EV) 14% 12% 10% 2019E DAFCF YIELD * 8% 6% 4% 2% 0% OBE MEG PXX VET CNQ WCP HSE TOG ERF BTE IMO PGF CR SU TVE ECA CPG FRU TOU VII…
DIVIDENDS 17
RELIABLE AND GROWING DIVIDENDS CUMULATIVE DIVIDENDS PAID PER SHARE (2003 THRU Q2 2018) = 35.49 0.25 8% 0.23 7% 0.215 6% MONTHLY DIVIDENDS 0.20 0.20 DIVIDEND YIELD 0.19 5% 0.17 4% 3% 0.15 2% 1% 0.10 0% 2003…
SUSTAINABILITY RATIO 200% 175% 162% 150% TOTAL EXPENDITURES / FFO* 140% 125% 121% 117% 121% 111% 109% 111% 100% 108% 88% 92% 75% 81% 74% 73% 70% 50% 59% 25% 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012…
CAPITAL SUSTAINABILITY 2018E SUSTAINING CAPEX AS A PERCENTAGE OF CASH FLOW 150% 2018E SUSTAINING CAPEX / CASH FLOW * 125% 100% 75% 50% 25% 0% VERMILION PROVIDES ONE OF THE MOST CAPITAL EFFICIENT MODELS IN THE…
ELEMENTS OF SUSTAINABLE MODEL 21
ELEMENTS OF SUSTAINABLE MODEL SELF-FUNDED GROWTH-AND-INCOME MODEL 1. High Margins 2. Low Base Production Decline Rates 3. Strong Capital Efficiencies Profitability on a per boe basis Required production replacement before growth…
NETBACKS Q2 2018 Netbacks by Country Total Canada France Netherlands Germany Ireland Australia United States (/BOE*) Company Sales 37.35 95.13 52.43 59.69 55.80 98.61 73.30 53.72 Royalties (3.88) (11.85) (1.12) (3.93) - - (20.35)…
RELATIVE NETBACKS 2018E FIELD NETBACKS (EXCLUDING HEDGING) 50 45 40 35 30 25 20 15 10 5 0 PSK VET FRU HSE CVE DEE BXE SPE PXX CPG SU MEG ERF BTE NVA ECA ATH PEY…
BASE PRODUCTION DECLINE RATES Effective Natural Country Decline Decline 50% Rate* Rate* VET CANADA VET ONLY CORPORATE France 8% 8% 40% DECLINE NATURAL DECLINE VET Netherlands 1% 19% CORPORATE 30% EFFECTIVE Germany 7% 7%…
DRILLING PROJECTS DCET Economics at US55 WTI IP365 EUR Prod. Efficiency Net Well 2018E Net Investment Well Cost (BOE/D) (MBOE) (IP365 /BOED) ATAX Recycle ATAX Payout Inventory* Wells Planned (CM) ROR Ratio (Years) European Gas…
COST REDUCTION OPERATING EFFICIENCY CAPITAL EFFICIENCY 14.00 24% Reduction 40.00 (40% in USD) 12.00 35.00 70% Reduction 30.00 (77% in USD) 10.00 49% Reduction 25.00 8.00 / BOE from 2014 Peak / BOE 20.00 (57% in…
RESERVES / RESOURCES 28
RESERVES AND RESOURCE BASE RESERVES* 2017 RESOURCES* 500 RESOURCE CONVERSIONS 300 CONTINGENT PROSPECTIVE 450 (MBOE) (MBOE) 2014 20,400 2,500 400 2015 17,500 500 2016 5,450 - 350 2017 20,456 1,734 200 300 MMBOE 250…
RECYCLE RATIOS Including FDC RECYCLE RATIO (F&D incl. FDC) 2017 F&D / FD&A Costs* (/BOE) 6.0x 2015-2017 F&D (E&D CAPEX) 10.57 3 Yr Avg 3.3x 5.0x 2012-2014 FD&A (Total CAPEX, 11.24 3 Yr Avg 2.7x including acquisitions) 4.0x…
RELATIVE PDP RECYCLE RATIOS 3-YEAR PROVED DEVELOPED PRODUCING (PDP) FD&A RECYCLE RATIOS* 2.5x 2.0x 1.5x 1.0x 0.5x 0.0x VET BNE ARX BIR AAV PEY TOU SRX YGR CR WCP NVA RRX CPG VII BTE PONY SPE TVE KEL GXE ERF LXE TOP…
INTERNATIONAL DIVERSIFICATION 32
ORGANIZATIONAL MODEL Vermilion uses a decentralized business unit structure to manage our diverse global portfolio Country-based business units are grouped into three regions: Vermilion Energy Inc. Europe, North America and…
VERMILIONS INTERNATIONAL ADVANTAGE Focused in three core areas (Europe, North America and Australia) with stable, well-developed fiscal and regulatory regimes Global asset portfolio provides commodity diversification and premium…
COMMODITY MIX PRODUCTION (2018E)* ESTIMATED FFO CONTRIBUTION (2018E)* ESTIMATED FCF CONTRIBUTION (2018E)** France United Australia France Australia 13% States 10% 17% Germany France 6% 2% Australia Germany United 4% 17% 4% 2%…
COMMODITY PRICE DIVERSIFICATION PORTFOLIO MIX STANDARD DEVIATION* 60% ANNUALIZED STANDARD 50% DEVIATION (%) 40% 30% 20% 10% 0% VET VET + TVE ERF OBE KEL BNE NVA ARX BNP WCP BTE TOU BIR CPG RRX PEY SPE**…
GLOBAL CRUDE OIL PRICING ADVANTAGE Approximately 43% of Vermilions crude oil CRUDE OIL** production is priced with reference to Dated Brent* BRENT 76 Reduces Vermilions exposure to the WTI 69 transportation-related discount between…
EUROPEAN NATURAL GAS PRICING SUMMARY Futures markets continue to reflect a significant premium NATURAL GAS* for European natural gas versus AECO and Henry Hub 14 LNG-BUILD CEILING Realized forward prices are influenced by a number…
EUROPEAN NATURAL GAS IMPACT OF US LNG US LNG liquefaction capacity expected to grow by 7.5 BCF/D (post-FID projects) through LNG Costing to Europe from United States US/mmbtu C/mmbtu 2020, potentially increasing US LNG shipments to…
EUROPEAN NATURAL GAS DOMESTIC SUPPLY / DEMAND EUROPEAN SUPPLY European Supply & Demand (Bcf/d) 2012 2015 2017E 2020E European domestic production continues to decline European Domestic Production 26.5 22.5 21.5 20.0 Russia 9.9 13.8…
BALANCE SHEET / RISK MANAGEMENT 41
CONSERVATIVE BALANCE SHEET CREDIT CAPACITY C2.0 BILLION NET DEBT-TO-FFO RATIO* AS AT JUNE 30, 2018 4.0 0.4 B 3.0 0.4 B 2.0 1.2 B 1.0 Q4 2018E ANNUALIZED REVOLVING CREDIT FACILITY 0.0 US Senior Notes 2003 2012…
RELATIVE LEVERAGE 2018E DEBT TO CASH FLOW 6.0x 5.0x 4.0x 3.0x CANADIAN AVERAGE US AVERAGE 2.0x 1.0x 0.0x MEG OAS ATH NVA FRU BXE CQE BTE ECR PPR DEE CPE CPG PXX KOS VET…
CREDIT METRICS YE 2013 YE 2014 YE 2015 YE 2016 YE 2017 Q2 2018 Credit Facility ( millions) 1,200 1,750 2,000 2,000 1,400 1,600 Undrawn 1 425 727 812 618 493 373 Liquidity 2 815 848 853 681 540 413 Subordinated Debt ( millions) 225…
ANNUAL COMMODITY HEDGE POSITION H2 2018 Full Year 2018 Full Year 2019 Full Year 2020 WTI Percent of Production Hedged 10% 13% 3% - Average Floor / Ceiling / Swap (/bbl) 64.88 / 71.37 / 79.95 65.94 / 73.72 / 75.90 - / - / 80.89…
QUARTERLY COMMODITY HEDGE POSITION OIL HEDGES NATURAL GAS HEDGES (/bbl) (/mmbtu) 65.66- Q1 2018 69.83 62.32- 77.03 74.12 European Gas North American Gas 70.23 Q1 2018 7.64 7.21-8.47 Q1 2018 2.65 2.67-3.06 Q2 2018 70.9770.51-…
EUROPEAN ASSETS 47
EUROPEAN CORE AREA NETHERLANDS GERMANY 2 onshore gas producer Establishing production operations and IRELAND Large and growing inventory of drilling opportunities substantial exploratory land position in Corrib field constitutes 95%…
EUROPEAN PRODUCTION 35,000 30,000 25,000 20,000 BOE/D 15,000 10,000 5,000 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009* 2010* 2011* 2012* 2013* 2014* 2015* 2016 2017 2018E E&D CAPEX AS % OF FFO**…
FRANCE Entered France in 1997 PARIS PARIS BASIN Assets characterized by large OOIP conventional fields with high working interest (OOIP in 5 largest fields 1.7 billion barrels of oil) FRANCE Workover, infill drilling and…
FRANCE PRODUCTION 14,000 12,000 10,000 8,000 BOE/D 6,000 4,000 2,000 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018E E&D CAPEX AS % OF FFO* N/A 43% 51%…
FRANCE OPERATING PERFORMANCE VALUE CREATION (2P RESERVES)* MMBOE Acquired Reserves Initial acquisition (1997) 22.6 14,000 2006 Acquisition 15.0 2012 Acquisition 1 6.7 2012 Acquisition 2 6.3 2006 ACQUISITION 12,000 15.0 MMBOE (2P)…
CHAMPOTRAN DEVELOPMENT 18 wells drilled from 2013 to 2016 at 100% success rate CHAMPOTRAN PRODUCTION Reduced DCET costs by 26% since 2013 3,500 38 net drilling locations identified in reserves and resources* 3,000 2P reserves have…
NEOCOMIAN DEVELOPMENT NEOCOMIAN GROWTH POTENTIAL 4 WELLS PER YEAR Part of Paris Basin light oil assets (Neocomian field) acquired 2,500 from ZaZa Energy France in December 2012 PRE-ACQUISITION VERMILION WORKOVERS / OPTIMIZATIONS /…
PARENTIS SUSTAINABILITY PARTNERSHIP Vermilion was the recipient of Frances Circular Economy Award for our project to supply geothermal heat from our oil operation to local greenhouses The award recognizes economically successful…
LA TESTE ECO-HABITATS Our operations near La Teste, France now support an eco-neighborhood of 450 homes that are heated the same way as the tomato greenhouses, using recycled geothermal energy from our oil operation 30-year…
NETHERLANDS Entered Netherlands in 2004 HARLINGEN 2 onshore gas producer High impact natural gas drilling and development Strong gas price, favorable fiscal regime, and low OPEX enhance netbacks AMSTERDAM NETHERLANDS Seven…
NETHERLANDS PRODUCTION NETHERLANDS - Expected per well risked economics (based on recent drilling) DCET Well Cost ( million) 9.2 Expected IP30 Rate (boe/d) 1,690 10,000 Expected EUR per well (mboe) 1,350 After Tax ROR (%) 100%…
NETHERLANDS OPERATING PERFORMANCE VALUE CREATION (2P RESERVES)* MMBOE Acquired Reserves Initial acquisition (2004) 16.5 14,000 2013 Acquisition 2.3 2016 Acquisition (Drenthe WI) 0.6 12,000 INITIAL ACQUISITION Total Acquired…
NETHERLANDS ACTIVITY Vermilion has tripled its undeveloped land base since the beginning of 2012 We have drilled 14 high-rate extension and discovery gas wells since 2009, with an Groningen average success rate of approximately 70%…
NETHERLANDS 3D SEISMIC Legacy 2D Line Q4 2017 SEISMIC ACQUISITION 310 km2 of new 3D seismic acquired in late 2017 in two concessions near Vermilions core operating area in the Netherlands This new survey has been merged with older…
INVESTING IN OUR NETHERLANDS COMMUNITIES MUNICIPALITY LINKAGE PROGRAM Vermilion launched the Municipality Linkage Program (MLP) in 2016 in the Netherlands, to support targeted and transparent connections between our capital…
GERMANY COUNTRY OVERVIEW Largest gas market in Europe, with a long history of oil and natural gas development Country-wide production is approximately 48 kbbl/d of oil and 0.75 Bcf/d of natural gas (170k boe/d) Consistent fiscal…
GERMAN LAND POSITION Initial Non-Operated DUMMERSEE-UCHTE ACQUISITION (2014) Acquisition First entry into Germany, non-operated interest Farm-In Agreement 2016 production 2,400 boe/d Awarded Licenses Member of 4 party consortium…
GERMANY PRODUCTION GERMANY Burgmoor Z3 Sidetrack (Non-op gas assets, reflects 25% W.I.) DCET Well Cost ( million) 4.0 IP30 Rate (boe/d) 350 5,000 EUR per well (mboe) 780 ENGIE ACQUISITION After Tax ROR (%) 36% (CLOSED DECEMBER…
GERMANY OPERATING PERFORMANCE Operated oil fields acquired by Vermilion at GERMANY OPERATED OIL ASSETS the end of 2016 1,200 Vermilion has grown production by 30% ENGIE ACQUISITION (CLOSED since the acquisition closed 1,000 DECEMBER…
IRELAND OVERVIEW Vermilion currently holds an 18.5% non-operated interest in the Corrib gas field, offshore Ireland On July 12, 2017 Vermilion and Canada Pension Plan Investment Board (CPPIB) announced a strategic partnership,…
IRELAND PRODUCTION 12,000 10,000 8,000 6,000 BOE/D 4,000 2,000 0 2015 2016 2017 2018E E&D CAPEX AS % OF FFO* NM 9% 1% 1% Gas EFFICIENT TRANSLATION OF REVENUE FUND FLOWS FROM OPERATIONS FREE CASH FLOW * 2018…
CENTRAL AND EASTERN EUROPE (CEE) EXTENSION OF EUROPEAN GROWTH STRATEGY Modest back-loaded capital commitments Prospective for both oil and gas Under-invested basin that can benefit from new technology HUNGARY Awarded South…
NORTH AMERICAN ASSETS 70
NORTH AMERICA CANADA Production and assets are focused in West Central Alberta and SE Saskatchewan In West Pembina, potential for three significant development projects sharing surface infrastructure with a land position of…
NORTH AMERICAN PRODUCTION 60,000 INCLUDES PARTIAL YEAR IMPACT OF SPARTAN ACQUISITION* 50,000 40,000 BOE/D 30,000 20,000 10,000 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018E* E&D…
ATAX IRR 20% 40% 60% 80% 0% 100% Woodenhouse ** Ellerslie ** Frobisher/Alida Montney Eagle Ford Woodford Marcellus Eagle Ford Woodford Lloydminster Mannville Eagle Ford Ellerslie Condy Wasatch…
WEST PEMBINA AND FERRIER MANNVILLE NOTIKEWIN Industry Mannville Horizontals Key Oil Battery 340 net sections (218,200 acres) of Mannville rights, largely held Key Gas Plant Key Compressor by production VET Gas Pipeline 44 net West…
WEST PEMBINA (LOWER MANNVILLE ELLERSLIE) CONDENSATE-RICH GAS LOWER MANNVILLE 2,000 ELLERSLIE 1,800 1,600 1,400 1,200 BOE/D 1,000 LOWER MANNVILLE ELLERSLIE Expected per well economics 800 DCET Well Cost ( million) 3.4…
FERRIER (UPPER MANNVILLE) LIQUIDS-RICH GAS NOTIKEWIN FALHER 1,800 3,000 UPPER MANNVILLE 1,600 2,500 1,400 2,000 1,200 BOE/D UPPER MANNVILLE FERRIER Expected per well economics 1,500 1,000 DCET Well Cost ( million)…
MANNVILLE DEVELOPMENT NET MANNVILLE PROSPECT INVENTORY* 21,000 AS AT JUNE 30, 2018 18,000 DRILLED TO DATE 71 15,000 12,000 BOE/D 9,000 UNRISKED BOOKED 2P 6,000 NOTIKEWIN CONTINGENT 65 142 DEVELOPMENT PENDING 190…
WEST PEMBINA CARDIUM Dominant 104,000 net acre land position in West Pembina Cardium resource play Pembina is the largest conventional oil field in Western Canada Control key infrastructure: 15,000 bbl/d oil battery and two owned…
SOUTHEAST SASKATCHEWAN Entered SE Saskatchewan through the acquisition of Elkhorn Resources Inc. in 2014, with further land added subsequent to acquisition Acquired Spartan Energy May 2018, adding over 400,000 net acres to our SE SK…
ACQUISITION OF SPARTAN ENERGY CORP. TRANSACTION METRICS Purchase Price (MM) 1.40 billion 2P Reserves (92% oil and NGLs) 113.5 mmboe * EV/FFO Multiple (annualized) 4.7 x 2P Reserves Acquisition Cost 12.33 per boe FFO per Share…
EXPANSION OF SE SASKATCHEWAN POSITION SPARTAN ACQUISITION Approximately 480,000 net acres (750 net sections) 457,000 net acres, 714 net sections in SK 20,000 net acres, 17 net sections in AB 3,000 net acres, 4 net sections in MB…
SE SASKATCHEWAN DEVELOPMENT NET SE SASK PROSPECT INVENTORY* 18,000 AS AT JUNE 30, 2018 (PRE-SPARTAN) INCLUDES PARTIAL YEAR IMPACT 16,000 OF SPARTAN ACQUISITION* 14,000 WELLS DRILLED 12,000 39 BOE/D 10,000 8,000…
UNITED STATES WYOMING DEVELOPMENT TURNER SAND WELL PERFORMANCE 450 Entered U.S. in 2014 400 350 Large, operated contiguous land position (83,500 net 300 BOEPD 250 acres at 100% working interest) in the Powder River 200…
AUSTRALIAN ASSETS 84
AUSTRALIA Entered Australia in 2005 Offshore oil field 80 km N.W. of Australia (55 m water depth) Horizontal well development with 18 wellbores and five lateral sidetracks Wells 600m below sea bed with 1,500 - 3,700 m measured…
AUSTRALIA PRODUCTION AUSTRALIA - per well economics* based on performance of 2013-2016 drilling programs DCET Well Cost ( million) 25.6 IP30 Rate (boe/d) 4,400 EUR per well (mboe) 1,000 12,000 After Tax ROR (%) 82% After Tax Payout…
AUSTRALIA OPERATING PERFORMANCE VALUE CREATION (2P RESERVES)* MMBOE Acquisition Date Reserves Reserves at initial acquisition (2005) 26.7 30,000 Total Acquisition Date Reserves 26.7 Production to YE 2017 32.7 25,000 Reserves at…
AUSTRALIA ACTIVITY Oil is trapped above and between the existing wells, creating opportunity to drill to a higher structural elevation and between existing wells to capture attic, flank and undrained oil 12 additional identified…
GOVERNANCE / CORPORATE CITIZENSHIP 89
GOVERNANCE Vermilions external awards and recognition provide important benchmarks for our strong performance The Globe and Mail, Report on Business, Board Games In 2017, Vermilion ranked 4th within the oil and gas sector, and among…
EMPLOYEE AND DIRECTOR OWNERSHIP Pay-for-performance is the foundation of our approach to compensation, both at the executive and employee level All directors and employees participate in Vermilions equity-based Long-Term Incentive…
HEALTH, SAFETY AND ENVIRONMENT (HSE) PHILOSOPHY Safety, environmental protection, and regulatory compliance go hand-in-hand with VERMILIONS PRIORITIES maximizing profitability WE CONDUCT ALL ACTIVITIES TO: These priorities should…
CDP (CARBON DISCLOSURE PROJECT) CDP (formerly Carbon Disclosure Project) is an international environmental organization that collects information about carbon emissions and energy use Vermilion was named to the CDP Climate…
STRATEGIC COMMUNITY INVESTMENT Vermilion is committed to giving back to Canada France Netherlands Australia the communities in which we operate We assess the critical needs in each community, and determine where our financial…
GLOBAL RESPONDER PROGRAM The Netherlands Rescue and Help on Water In 2017, Vermilion established our Global Emergency Responder Program to support critical equipment and training needs for emergency medevac and similar services in…
CORPORATE CULTURE GREAT PLACE TO WORK INSTITUTES ANNUAL RANKING Great Place to Work Institute evaluates companies by analyzing results of a confidential Trust Index survey provided to employees and evaluating the workplace through a…
RECORD OF VALUE CREATION 97
VALUE CREATION 1994 2018 8,000 6,393 6,428 6,000 4,000 MARKET TOTAL VALUE CAPITALIZATION(2) CREATION MILLIONS 2,000 0 EQUITY DIVIDENDS (2,000) ISSUED(1) PAID(2) (3,100) 3,135 (4,000) MORE THAN 20-YEAR RECORD OF…
RETURN ON CAPITAL EMPLOYED 10 YEAR TOTAL RETURN VERSUS 10 YEAR AVERAGE ROCE 150% VET FRU 100% TOTAL RETURN (%) PEY CNQ 50% POU ARX SU 0% BIR ERF CPG IMO SPE NVA AAV -50% ECA CR BTE OBE PGF -100% -15% -10% -5% 0%…
ESG AND SHAREHOLDER RETURNS Sustainability performance is integral to our business and is positively correlated to our strong shareholder returns 5-Year Total Return vs. Sustainalytics Score 5-Year Total Return vs. CDP Score 5-Year…