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VET - Vermilion Energy: Financial Outlook Appears More Stable Now
Vermilion Energy Inc. Common
Vermilion Energy (VET) has taken measures to stem its cash burn, including suspending its dividend and cutting capex. It appears to be able to deliver positive cash flow (including hedges) in 2021 based on strip prices, and has a estimated breakeven point of close to $40 USD WTI oil (with no dividend). One of the worries around Vermilion before involved its lack of 2021 oil hedges, but 2021 strip is now at a more favorable level.
Vermilion does still need oil to move higher for a small dividend to become a possibility