Vermilion first entered Germany in 2014 through the acquisition of a 25% non-operated interest in natural gas producing assets.
Germany is the largest gas market in Europe and has a long history of oil and natural gas development.
Since 2014, we have bolstered our presence in the country with the execution of a significant farm-in agreement in 2015, the addition of further licenses, and the 2016 acquisition of operated producing properties.
Additionally, in 2021, Vermilion completed two minor acquisitions, increasing the Company’s non-operated working interest in certain assets to 50%. Germany is the largest gas market in Europe and has a long history of oil and natural gas development. Our principle operations are located in the Lower Saxony region of the country and our German office is located in Hannover.
To learn more, visit our Vermilion Energy Germany site.
In Canada, Vermilion is a key player in the highly productive Mannville condensate-rich gas play. In addition, we hold a dominant land position in the West Pembina Cardium resource play, in the Peace River Arch in British Columbia and Alberta and have a high-working interest position in southeast Saskatchewan. In the United States, Vermilion has a significant land position in the promising Turner Sand play in the Powder River Basin. Our North American assets represent approximately 60% of our total corporate production.
Vermilion’s European assets consist of onshore and offshore operations that deliver premium commodity pricing through Brent-priced light oil production and European natural gas prices trade at a significant premium to North American benchmarks. Our European assets contribute approximately one-third of total corporate production.
Vermilion holds a 100% working interest in the Wandoo field, offshore Australia. Vermilion’s Australian oil production receives premium pricing due to Brent-indexing and the strong, long-term, strategic relationships we have cultivated with our key customers in the region.