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CALGARY, AB – 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 months ended March 31, 2023. The unaudited interim financial statements and management discussion and analysis for the three months ended March 31, 2023 will be available on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com , on EDGAR at www.sec.gov/edgar.shtml , and on Vermilion’s website at www.vermilionenergy.com . Highlights Q1 2023 fund flows from operations (“FFO”) (1) was $253 million ($1.56/basic share) (2) and exploration and development (“E&D”) capital expenditures (3) were $155 million, resulting in free cash flow (“FCF”) (4) of $98 million ($0.60/basic share) (5) . Net earnings were $380 million ($2.34/basic share) for Q1 2023, primarily driven by acquisition and disposition activity in the quarter. Vermilion’s average realized natural gas price of $10.77 per mcf was over three times higher than the average AECO benchmark index price for the quarter, as 32% of our Q1 2023 gas had direct exposure to European gas pricing. On a go-forward basis, with the Corrib Natural Gas Project (“Corrib”) acquisition in Ireland now closed, […]
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