Vermilion’s operations are focused on the exploitation of light oil and liquids-rich natural gas conventional and unconventional resource plays in North America and the exploration and development of conventional natural gas and oil opportunities in Europe and Australia.
Vermilion’s business model relies on our five long-standing core business principles, which are based on a conservative, long-term focus on balance sheet strength and capital discipline to generate strong returns.
Vermilion’s Strategic Plan includes six Matters of Importance, with strategic objectives that guide the Company’s business plans to 2030:
These provide short, mid- and long term targets for the company and our people. We set annual commitments within each, and track achievements quarterly, reporting to senior management and our Board of Directors. Progress is reported annually in our Information Circular, and is also tracked using key performance indicators within our Short and Long Term Scorecards to assess company and individual performance, which is linked directly to compensation.
In addition to economic and investment metrics, our strategic objectives are guided by feedback from our external stakeholders, including voting results at our Annual General Meeting, and input from governance, investment and sustainability analysts, our communities and our people.
Our success is made possible thanks to close to 1,000 employees and contractors, as of December 2022, throughout our operations, and through an extensive supply chain.
Our supply chain encompasses a wide range of inputs, including specialized field expertise and technology, supplies ranging from drilling mud to event facilities, and expert consultant advice. It is extremely important to us that our suppliers not only deliver a sound financial investment in their goods and services, but operate in a manner that aligns with the values that guide our own corporate culture. As a result, we have strict requirements for third-party vendors who do business with Vermilion. 102-29
Our asset base comprises a diversified product and project portfolio that receives premium advantage pricing. This increases the stability of our cash flows and our flexibility in allocating our exploration and development capital. Our exposure to robust end markets includes: