Type Public Industry Petroleum Production output 54,922 boe/d Number of employees 516 | Traded as TSX: VET NYSE: VET Products Oil, natural gas Headquarters Calgary, Canada Founded 1994 | |
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Key people Lorenzo Donadeo,chair
Anthony Marino,pres,ceo
Curtis W. Hicks,cfo,exec vp
Michael Kaluza",coo,exec vp Stock price VET (TSE) CA$ 49.87 +0.86 (+1.75%)31 Mar, 4:15 PM GMT-4 - Disclaimer Subsidiaries Vermilion Australia Oil & Gas Pty Ltd. | ||
Vermilion Energy is an international oil and gas producer with operations in North America, Europe and Australia. Vermilion pays a monthly dividend of Canadian $0.215 per share, which provides a current yield of approximately 5%. Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.
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Vermilion energy ceo looks to grow in europe and canada
History
Vermilion began in 1994 as Vermilion Resources Ltd, an Alberta focused oil and gas company. Vermilion had its initial public offering on the Alberta Stock Exchange in April 1996 for $0.10 per share.
The company changed its status to that of a trust in December 2002 when it became known as Vermilion Energy Trust for eight years; In September 2010, it converted back to a corporation.
In March 2013, Vermilion began trading on the NYSE under the ticker symbol "VET".
Operations
In Canada, Vermilion's operations are focused in the West Pembina/Drayton Valley region of Alberta and the Northgate Region of southeast Saskatchewan. In West Pembina, Vermilion has the potential for three significant development projects sharing the same surface infrastructure:
Vermilion entered the US market in 2014 with the acquisition of properties in the Powder River Basin of northeastern Wyoming in 2014. Vermilion's activities are targeting oil and gas development in the Turner Sands tight-oil play.
After entering the country in 1997, Vermilion has grown to become the largest oil producer in France. The company estimates there are more than 1.7 billion barrels of original oil in place in the five biggest conventional oil pools.
Vermilion entered the Netherlands in 2004 and has since expanded its undeveloped land base to cover approximately 800,000 net acres. The Netherlands is characterized by high impact natural gas drilling and development. Vermilion's natural gas production in the Netherlands is priced of Title Transfer Facility (TTF).
Vermilion acquired a 25% contractual participation interest in a four partner consortium in Germany from GDF Suez S.A. in February 2014. The assets include 4 natural gas producing fields across 11 production licenses, spanning 204,000 gross acres. Since that time, Vermilion has expanded its land position to include over 1.1 million net acres in the prolific North German Basin.
Vermilion acquired a 18.5% non-operated stake in the Corrib field from Marathon Oil Corp in 2009. The other partners in the project are Shell with 45% (project operator) and Statoil with 36.5%. At peak production, the Corrib project will supply 60-65% of the country's natural gas demand and over 90% of the country's natural gas production. First-gas from Corrib began on December 30, 2015.
Wandoo is Vermilion's Australian asset, an offshore oil field and platform approximately 80 kilometers off the northwest coast of Australia. Wandoo production receives a premium to Brent Crude pricing. Vermilion originally purchased a 60% operated interest in Wandoo in 2005. The company then purchased the remaining 40% interest in Wandoo in 2007.