Vermilion entered the Netherlands in 2004 and are currently the second-largest onshore natural gas producer in the country.
Vermilion has tripled its undeveloped land base in the Netherlands since the beginning of 2012 and we now hold approximately 800,000 net acres of undeveloped land within the Netherlands.
Our producing assets are located in the northwest part of the country, with a regional office in Harlingen and our European headquarters is located in Amsterdam. We have continued to deliver strong, organic production growth in the Netherlands. Our significant inventory of identified drilling locations combined with favorable European natural gas prices, a reliable fiscal regime and low operating costs means that we will continue to look to grow our Netherlands business unit in the future.
To learn more, visit our Vermilion Energy Netherlands 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.