Vermilion is a Canadian-based international energy producer with operations in Canada, Western Europe and Australia. Vermilion converted to an energy trust in 2003 after operating for nearly nine years as a successful exploration and production company. As an energy trust, Vermilion maintained a stable stream of monthly distribution payments to its unitholders and delivered top quartile total return performance in four of the past six years. The compound average total rate of return for Vermilion units over the past five years is 16.5% ending in 2009 resulting in top quartile performance over this period. Effective September 1, 2010 Vermilion converted from a trust structure to a corporate structure.
As an energy trust, Vermilion's reserves per unit (debt adjusted) increased by 30%, and production per unit increased by 3%. Over this same period, (2002 - 2009) Vermilion's peer group of Canadian energy trusts saw their reserves per unit decline by an average of 8% and their production per unit drop by 29%.
Vermilion has paid more than $925 million in distributions (more than 1.5 times the total amount of equity raised in the total history of Vermilion going back to 1994) to unitholders, and has never decreased monthly distributions.
Vermilion intends to continue to pay a stable dividend to shareholders on a monthly basis.
Today's portfolio of properties is the strongest in Vermilion's history. A reserve life index of 12.6 years, additional drilling inventory of at least five years in each of its jurisdictions and long term value accretion opportunities attributable to the trust's large oil pools provide a solid foundation for future success.
| TSX | |
|---|---|
| Symbol: | VET |
| OTC Symbol: | VEM-TF |
| Last Trade: | $ 45.63 |
| Trade Time: | 4:00pm EST |
| Change: | +0.21 |
| Open: | $ 45.23 |
| Day range: | $ 45.20 - 45.74 |
| Volume: | 110,280 |