On October 31, 2019, Vermilion Energy Inc. (VET) reported the operating and condensed financial results for 3Q2019 (Table 1).
Below, let's take an under-the-hood look at these results so as to update our investment thesis.
Table 1. A summary of operating and financial results for 3Q2019, compared with those for 2Q2019 and 3Q2018. Source: Quarterly news release.
Production
In 3Q2019, Vermilion averaged 97,239 boe/d in production, down 5.6% sequentially and up 1.1% over the same quarter one year ago. The 5.6% decrease in production from the previous quarter resulted from "