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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.  Budgeted capital spend by country is estimated to be:

Country

 2018 Capital budget ($millions)

Canada

 260

France

 79

Netherlands

 23

Germany

 16

Ireland

 1

Australia  80
USA  29
Central and Eastern Europe  12
Total E&D Capital Expenditures  500

Second Quarter 2018 Operations Review

 

Three months ended

Production

JUN 30, 2018 MAR 31, 2018 JUN 30, 2017
Oil and Condensate (bbls/d) 34,574 27,008 28,525
NGL's (bbls/d) 5,651 5,126 3,821
Gas (mmcf/d) 242.40 228.20 209.36
Total Production 80,625 70,167 67,240

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

Country Total (boe/d) Oil and condensate (bbls/d) NGL (bblS/d) Gas (mmcf/d)
Canada 43,817 17,009 5,589 127.32
France 11,683 11,683 - -
Netherlands 7,335 87 - 43.49
Germany 3,447 1,008 - 14.63
Ireland 9,426 - - 56.56
Australia 4,132 4,132 - -
USA 784 655 62 0.40
Total 80,625 34,574 5,651 242.40

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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