VET - Vermilion Energy reports Q4 results; updates FY23 and initiates Q1 guidance
2023-03-09 00:46:45 ET
- Vermilion Energy press release ( NYSE: VET ): Q4 FFO was C$284M (C$1.74/basic share).
- Adjusted FFO would have been C$507 million (C$3.11/basic share), in line with the prior quarter.
- Revenue of C$842.69M (+10.0% Y/Y).
- Q4 2022 production averaged 85,450 boe/d an increase of 1% from the previous quarter.
- "Taking into account the southeast Saskatchewan asset sale and Australia downtime, we are revising our 2023 production guidance to 82,000 to 86,000 boe/d. Our 2023 capital budget remains unchanged at $570 million as there was minimal capital allocated to the assets being sold."
- "As a result of the Australia downtime and the southeast Saskatchewan asset sale, Q1 2023 corporate production is expected to be in the range of 80,000 to 82,000 boe/d."
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Vermilion Energy reports Q4 results; updates FY23 and initiates Q1 guidance