Vermilion’s second quarter results came in ahead of both our expectation and the consensus, with cash flow in the period ~29% ahead of our view and ~13% ahead of the consensus. Corrib volumes were strong, ramping up to full capacity in June on the back of strong well performance and minimal downtime. Cost reductions to date will see the addition of 14 gross wells in 2016e despite capital expenditure guidance only increasing by $5 mm. Preliminary guidance will see y/y production growth o
09 Aug 2016
Reports Solid 2Q16 Results, Provides Preliminary Outlook Framing Strong Capital Efficiencies Leading to Stable Growth Profile
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Reports Solid 2Q16 Results, Provides Preliminary Outlook Framing Strong Capital Efficiencies Leading to Stable Growth Profile
Vermilion Energy Inc. (VET:TSE) | 0 0 (-0.4%) | Mkt Cap: 5,122m
- Published:
09 Aug 2016 -
Author:
Michael Hearn -
Pages:
9
Vermilion’s second quarter results came in ahead of both our expectation and the consensus, with cash flow in the period ~29% ahead of our view and ~13% ahead of the consensus. Corrib volumes were strong, ramping up to full capacity in June on the back of strong well performance and minimal downtime. Cost reductions to date will see the addition of 14 gross wells in 2016e despite capital expenditure guidance only increasing by $5 mm. Preliminary guidance will see y/y production growth o