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Operational Review

Guidance

On October 30, 2017, we released our 2018 capital expenditure guidance of $315 million and associated production guidance of between 74,500-76,500 boe/d.  On January 15, 2018, we increased our capital expenditure guidance to $325 million and production guidance to between 75,000-77,500 boe/d to reflect the post-closing impact of the acquisition of a private southeast Saskatchewan and southwest Manitoba light oil producer.  On April 16, 2018, we increased our capital expenditure guidance to $430 million and production guidance to between 86,000 to 90,000 boe/d to reflect the post-closing impact of the acquisition of Spartan Energy Corp.  On July 30, 2018, we increased our capital expenditure guidance to $500 million to reflect the acceleration of our Australia drilling campaign into Q4 2018, and to a lesser extent to account for the impact of foreign exchange fluctuations on our Canadian dollar capital levels.  As of October 25, 2018, we are increasing our capital expenditure guidance to $510 million to reflect additional capital activity associated with the assets acquired in the Powder River Basin in August of 2018. 

We released our 2019 capital budget and related guidance concurrent with the release of our Q3 2018 results.

Budgeted capital spend by country is estimated to be:

Country

 2018 Capital budget ($ millions)

2019 Capital Budget ($ Millions) 

Canada

 260

 319

France

 79

 78

Netherlands

 23

 26

Germany

 16

 24

Ireland

 1

 1

Australia  80 13
USA  39 51
Central and Eastern Europe  12 18
Total E&D Capital Expenditures  510  530

Third Quarter 2018 Operations Review

 

Three months ended

Production

SEP 30, 2018 JUN 30, 2018 SEP 30, 2017
Oil and Condensate (bbls/d) 47,152 34,574 27,687
NGL's (bbls/d) 6,839 5,651 4,947
Gas (mmcf/d) 253.38 242.40 208.63
Total Production 96,222 80,625 67,403

The following table summarizes production by country for the three months ended September 30, 2018:

Country Total (boe/d) Oil and condensate (bbls/d) NGL (bblS/d) Gas (mmcf/d)
Canada 57,397 28,477 6,126 136.77
France 11,407 11,407 - -
Netherlands 7,479 84 - 44.37
Germany 3,498 1,019 - 14.88
Ireland 8,563 - - 51.38
Australia 4,704 4,704 - -
USA 2,979 1,461 714 4.82
Total 96,222 47,152 6,839 253.38

For further detail on our capital activity by country please refer to our most current investor presentation.  

Vermilion Energy Inc.
3500, 520 3rd Avenue SW
Calgary, Alberta T2P 0R3
Phone: 1-403-269-4884
Fax: 1-403-476-8100
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