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Our History

Vermilion was founded in 1994 as a Canadian oil and gas exploration and production company focused on assets in Alberta, Canada.  In 1997, Vermilion took the highly innovative step of expanding internationally through the acquisition of oil-producing assets in France.  Since that time, Vermilion has continued to add assets to its portfolio focusing on three core regions: North America, Europe and Australia.  Vermilion has successfully leveraged its international diversification to outperform the relevant energy and broad market indices over the long-term.  

Vermilion Resources Ltd. was launched as an Alberta-based oil and gas exploration and production company.
IPO in April, 1994 on the Alberta Stock Exchange at $0.30 per share.
Vermilion’s production reached 1,800 boe/d by the end of 1996 following modest drilling and acquisition programs.
Listed on the Toronto Stock Exchange on June 27, 1996.
Overvalued market for properties in the Western Canadian Sedimentary Basin resulted in Vermilion management seeking international expansion opportunities.
Acquired 4,000 boe/d of production in France from Exxon in January 1997 for $45 million. Vermilion increased production from the newly acquired French assets by 50% to 6,000 boe/d by the end of 1997 through a highly successful workover and recompletion program.
Acquired a 39% interest in Aventura Energy Inc. (“Aventura”) in exchange for a royalty valued at $4.4 million on certain Vermilion Canadian properties. Over the next five years, Vermilion increased its ownership in Aventura to 72% through property transactions and participation in share issues.
Aventura makes the largest onshore gas discovery in Trinidad in the previous 40 years.
Completed an acquisition increasing the working interest in the Utikuma property to 94%, adding another 1,100 boe/d for $32.8 million.
Vermilion’s Board of Directors recommended the reorganization of Vermilion to an energy trust. The reorganization targeted increased shareholder value by enabling Vermilion to better compete for capital while also providing more efficient structures for Vermilion's assets and strategy of property optimization, drilling and acquisition.
Prior to the reorganization, production peaked at 26,000 boe/d in Q4 2002, not including minor production from Aventura.
99.9% of shareholders vote in favor of the plan to reorganize as a trust. Vermilion Energy Trust units and common shares of the spun-out exploration company, Clear Energy Inc. commenced trading on the Toronto Stock Exchange on January 24.
Vermilion started paying monthly distributions of $0.17 per month in February.
Vermilion completed a bought deal equity financing in December, issuing 5.5 million trust units at $14.10 per unit.
Sold 72% stake in Aventura Energy to British Gas for net proceeds of $165 million, double Vermilion’s total investment in Aventura.
Acquired 5,900 boe/d of natural gas production in the Netherlands for $85.5 million. This represented Vermilion’s second international expansion following the 1997 acquisition of assets in France. Vermilion’s continued focus on international opportunities reflected continuing high prices for Western Canadian Sedimentary Basin assets.
Launched Verenex Energy Inc. to accelerate international exploration opportunities. Verenex completed an IPO at $2.50 per share and began trading on the TSX Venture Exchange. Verenex was a successful bidder in Libya's first auction of exploration rights, winning access to a 1.5 million acre block in the Ghadames Basin.
Completed an acquisition of 60% of the offshore Wandoo field and platform located on the northwest shelf of Australia adding 4,800 boe/d for $95 million in March. During the year, expanded the fluid processing capacity of the platform from 114,000 boe/d to 150,000 boe/d.
Acquired Exxon's remaining producing properties onshore France adding 3,500 boe/d for $171.4 million. Vermilion also acquired the remaining 10% interest in those same properties from Exxon’s partner at similar metrics. Combined, these acquisitions added a total of 3,900 boe/d of new light oil production to Vermilion.
Increased the monthly distribution by 12% to $0.19 per unit.
Vermilion acquired the remaining 40% interest in the Wandoo asset, offshore Australia, representing 3,000 boe/d for $126.2 million.
Drilled and completed first ever infill wells from the Wandoo Platform, offshore Australia, adding 2,000 boe/d of production
Verenex Energy Inc. sold to the Libyan Investment Authority for total cash consideration of $7.2882 per share. Vermilion received funds in excess of $136 million for its equity position in Verenex.
Announced the acquisition of an 18.5% non-operated interest in the Corrib natural gas project in Ireland.
Completed a $250 million Equity Offering at $30.90 per unit.
Vermilion completed a four well drilling program in the Netherlands comprised of two (0.85 net) exploration wells (Vinkega-1 and De Hoeve-1) and two (1.9 net) development wells (Middelburen-2 and Middenmeer-3). All four wells were highly successful and nearly doubled production levels for Vermilion in the Netherlands over the next 18 months.
Vermilion converted to a corporation from an income trust effective September 1, 2010. This conversion stemmed from changes made by the Government of Canada to the taxation of income trusts. Vermilion maintained a monthly dividend of $0.19 per share.
Completed a $263 million equity offering at $49.00 per share and issued $225.0 million of 6.5% 5-year senior unsecured notes.
Acquired working interests in six producing fields located in the Paris and Aquitaine basins in France from Total E&P France for $108 million in January. The acquisition added 2,200 boe per day of production in 2012, weighted 86% to high quality Brent-priced crude.
Vermilion completed a second France acquisition in December, acquiring 850 bbl/d of light Brent-priced crude oil from ZaZa Energy for US$86 million.
Increased the monthly dividend by 5% to $0.20 per share.
On March 12, Vermilion’s common shares opened for trading on the New York Stock Exchange ("NYSE"). Vermilion completed the secondary listing on the NYSE to broaden our shareholder base and improve liquidity.
Completed a $27.5 million acquisition in the Netherlands which added 600 boe/d of natural gas, 2.3 mmboe of proved plus probable reserves and 292,000 net acres of undeveloped land.
Increased the monthly dividend by 7.5% to $0.215 per share.
Completed first acquisition in Germany with the purchase of a 25% non-operated interest in four producing natural gas fields and a surrounding exploration license, all located in the northwest part of the country.
Acquired a private southeast Saskatchewan producer for total consideration of $427 million. The acquisition added 3,000 boe/d of light-oil production, 16.5 mmboe of 2P reserves and 57,000 net acres of land (80% undeveloped).
Vermilion was awarded its first concession in Hungary, representing Vermilion’s initial entry into Central and Eastern Europe.
Vermilion entered the United States through the acquisition of 68,000 acres of land in the Powder River Basin of northeastern Wyoming for $11.1 million.
Entered into a farm-in transaction in Germany providing Vermilion with participating interest in 850,000 net acres of undeveloped oil and natural gas rights in the heart of the North German Basin. The farm-in significantly enlarged Vermilion’s presence in Germany.
On December 30, 2015, natural gas began to flow at our offshore Corrib project in Ireland.
Completed an acquisition of operated and non-operated assets in Germany, providing Vermilion with its first operated position in the country and adding 2,000 boe/d of production (50% oil). Incremental reserves associated with the acquired assets as at December 31, 2015 were estimated at 9.2 million boe.
Issued US$300 million of 5.625% 8-year senior unsecured notes, representing Vermilion's first issuance in the US debt markets. 
Announced strategic partnership with Canada Pension Plan Investment Board in the Corrib natural gas project in Ireland, with Vermilion to take over operations from Shell.
Acquired Spartan Energy, a publicly traded southeast Saskatchewan light oil producer with 480,000 net acres of land and 23,000 boe/d of production for total consideration of $1.4 billion.
Acquired a private southeast Saskatchewan producer for total consideration of $91 million, adding 42,600 net acres of land (100% working interest) and 1,150 boe/d of light oil production.
Acquired the assets of a private oil company in the Powder River Basin for total cash consideration of $189 million, adding 55,700 net acres of land (96% working interest) and 2,500 boe/d (63% oil and NGLs) of production.
Closed the previously announced Corrib transaction with Canada Pension Plan Investment Board and assumed operatorship of the Corrib natural gas project in Ireland. Vermilion's ownership interest in Corrib increased to 20% from 18.5% upon close.
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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