Netherlands
- The Netherlands is well positioned, in the heart of European natural gas markets
- Vermilion’s properties provide abundant gas exploration potential
- We are committed to environmentally responsible development
Operations
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- Background
- Netherlands average production increased 4% to 5,751 boe/d in 2012, from 5,538 boe/d in 2011.
- Reserve life index of 5.8 years based on proved plus probable reserves
- Entered Netherlands in 2004, acquiring 5,900 b/d of mature natural gas properties
- Netherlands efforts have been focused on optimizing wells and surface facilities to improve the flow quality of production at reduced costs
- Install smaller diameter production tubing to improve well flow
- Shut-off water encroachment zones
- Streamline surface facilities to improve processing efficiency
- Drilled first step-out wells in 2007
- The 2004 purchase of production in the Netherlands came with adjacent lands and abundant, close in, lower risk exploration prospects
- These lands are held by production with no forced expiries
- Over 30 prospects in 3 major play areas ranging from 2 - 186 BCF of net unrisked resource potential
- Vermilion successfully drilled and completed four of these prospects in 2009 - 2010. Two wells were brought on-stream in mid-2010 with combined production of 2,000 to 2,500 boe/d. The remaining two wells are expected to be brought on production in mid-2011 adding a further 1,500 to 2,000 boe/d of combined production. Vermilion is currently seeking permits to enable continuous drilling of four to six wells per year for the foreseeable future.
- In July 2008 Vermilion voluntarily shut in 1,000 boe/d of production in the Harlingen region in northwest Netherlands due to ground subsidence concerns
- This production will remain shut-in until Vermilion and the regulatory authorities can improve the predictability of future subsidence
© 2013 Vermilion Energy Inc.