Investment Thesis
Vermilion Energy Inc. (VET) offers investors an attractive and stable dividend yield of 8.3%. 2019 forecasts suggest that Vermilion can fund its attractive yield and its sustaining capital needs at commodity price levels of $40 WTI. The market has been punishing Vermilion along with other Canadian producers suffering from a supply glut and transportation bottlenecks. However, with 60% of its estimated 2019 free cash flow derived from outside of Canada, Vermilion is a geographically well diversified producer that benefits from exposure to Brent pricing. Having posted impressive Q4 results and achieved