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2021 Budget – Vermilion Energy Inc.

Vermilion Energy Inc. · Jan 19, 2021 · 12 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2021 Budget – Vermilion Energy Inc. – slide 1
    JANUARY 19, 2021 VERMILION ENERGY 2021 BUDGET CONFERENCE CALL INTERNATIONALLY DIVERSIFIED FREE CASH FLOW FOCUSED ESG LEADERSHIP
  2. 2021 Budget – Vermilion Energy Inc. – slide 2
    2021 BUDGET & GUIDANCE SUMMARY Disciplined and balanced E&D capital budget of 300 million o Focused on maximizing returns and FCF* o Top priority is debt reduction and preserving financial liquidity Annual average production…
  3. 2021 Budget – Vermilion Energy Inc. – slide 3
    2021 CAPITAL ALLOCATION International capex increases 35% year-over- E&D CAPITAL BUDGET GUIDANCE year while North American capex decreases 400 37% year-over-year 350 300 Majority of 1H 2021 drilling program allocated to…
  4. 2021 Budget – Vermilion Energy Inc. – slide 4
    TRANSITION TO LEVEL-LOADED CAPEX QUARTERLY E&D CAPEX & PRODUCTION 250 105,000 100,000 200 95,000 Optional PRODUCTION (BOE/D) Capital 90,000 E&D CAPEX (MM) 150 85,000 80,000 100 75,000 70,000 50 65,000 60,000 0…
  5. 2021 Budget – Vermilion Energy Inc. – slide 5
    2021 FFO & FCF SENSITIVITY 2021 FFO SENSITIVITY (UNHEDGED)* 900 800 700 600 500 MM FCF Wedge 400 300 200 100 0 US40 US45 US50 US55 US60 US65 WTI FULL-YEAR AVERAGE PRICE (US/BBL) 2021 E&D Capital Budget FFO* * Fund…
  6. 2021 Budget – Vermilion Energy Inc. – slide 6
    2021 FREE CASH FLOW ALLOCATION Excess FCF will be allocated to debt reduction Committed to reducing net debt to FFO ratio to less than 1.5x over time Continue to review our long-term shareholder return policy to determine the…
  7. 2021 Budget – Vermilion Energy Inc. – slide 7
    BALANCE SHEET LONG-TERM DEBT MATURITY SCHEDULE No near-term debt maturities (BALANCES IN C AS AT 9/30/2020) C2.1 billion covenant-based credit facility termed out to May 2024 1,800 US300 million Senior Notes termed out to March…
  8. 2021 Budget – Vermilion Energy Inc. – slide 8
    CORPORATE STRATEGY UPDATE Continue to make progress on re-positioning Vermilion for long-term profitability o Undertook a global organizational efficiency review to improve profitability o Reorganized into two core regions that…
  9. 2021 Budget – Vermilion Energy Inc. – slide 9
    CORPORATE STRATEGY UPDATE Continue to review and update 5-year strategic plan to maximize profitability and FCF generation o Includes a review and update of our Sustainability strategy to be completed in Q2 2021 Recently rated as a…
  10. 2021 Budget – Vermilion Energy Inc. – slide 10
    VERMILION COMMODITY ADVANTAGE Significant leverage to recovering global commodity prices PRODUCTION (2021E)* o +US1/bbl change in oil price = +17MM of FCF* o +C1/mmcf change in European natural gas = +28MM of FCF * OIL (BRENT) 16%…
  11. 2021 Budget – Vermilion Energy Inc. – slide 11
    SUMMARY Disciplined 2021 capital budget maximizes returns and FCF generation o Achieves top priority of debt reduction and progressing towards leverage target…
  12. 2021 Budget – Vermilion Energy Inc. – slide 12
    Q&A 13

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