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The audited financial statements, management discussion and analysis and annual information form for the year ended December 31, 2020 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 In 2020, we generated $502 million of fund flows from operations (“FFO”) (1) and $135 million of free cash flow (“FCF”) (1) after investing $367 million on exploration and development (“E&D”) capital expenditures. This resulted in a payout ratio of 92% including reclamation and abandonment expenditures and dividends paid earlier in the year. In Q4 2020, we generated $135 million of FFO and invested $60 million of E&D capital, resulting in FCF of $75 million which went toward debt reduction. After funding reclamation and abandonment expenditures and minor acquisitions, we reduced the amount outstanding under our revolving credit facility by approximately $175 million over the second half of 2020, leaving us with over $500 million of liquidity available at year-end. Achieved 2020 average production of 95,190 boe/d (2) , slightly above the midpoint of our guidance range of 94,000 to 96,000 boe/d. Q4 2020 production averaged 87,848 boe/d (2) , reflecting […]
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