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CALGARY, AB, Aug. 2, 2023 /CNW/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) ( TSX: VET ) ( NYSE: VET ) is pleased to report operating and condensed financial results for the three and six months ended June 30, 2023. The unaudited interim financial statements and management discussion and analysis for the three and six months ended June 30, 2023 will be available on the System for Electronic Document Analysis and Retrieval Plus (“SEDAR+”) at www.sedarplus.ca , on EDGAR at www.sec.gov/edgar.shtml , and on Vermilion’s website at www.vermilionenergy.com . Highlights Q2 2023 fund flows from operations (“FFO”) (1) was $247 million ($1.51/basic share) (2) and exploration and development (“E&D”) capital expenditures (3) were $167 million, resulting in free cash flow (“FCF”) (4) of $80 million ($0.49/basic share) (5) . Net earnings were $128 million ($0.78/basic share) for Q2 2023, primarily driven by strong price realization. The TTF natural gas benchmark price in Europe averaged $15.04 per mcf in Q2 2023, which was six times higher than the average AECO benchmark index price for the quarter. Approximately 41% of Vermilion’s Q2 2023 gas production had direct exposure to European gas pricing. Repurchased 1.5 million common shares […]
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