Vermilion Energy Reports Q3 2024 Results

Ticker: VET · Form: 6-K · Filed: 2024-11-07T00:00:00.000Z

Sentiment: neutral

Topics: results, oil-gas, foreign-private-issuer

TL;DR

Vermilion Energy dropped Q3 results, check the news release for details.

AI Summary

Vermilion Energy Inc. announced its financial and operational results for the three and nine months ended September 30, 2024, via a news release dated November 6, 2024. The filing is a Form 6-K, indicating it's a report from a foreign private issuer. The company is based in Calgary, Alberta, and operates in the crude petroleum and natural gas sector.

Why It Matters

This report provides investors with key financial and operational data for Vermilion Energy, crucial for understanding the company's performance in the oil and gas sector during the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine financial results filing (6-K) and does not contain significant new risk factors.

Key Players & Entities

FAQ

What type of filing is this report?

This report is a Form 6-K, which is a Report of Foreign Private Issuer filed pursuant to Rule 13a-16 or 15d-16 Under the Securities Exchange Act of 1934.

What period do the announced results cover?

The results announced in the news release (Exhibit 99.1) cover the three and nine months ended September 30, 2024.

When was the news release announcing the results filed?

The news release dated November 6, 2024, was filed as Exhibit 99.1 to this Form 6-K.

Where is Vermilion Energy Inc. headquartered?

Vermilion Energy Inc.'s principal executive offices are located at 3500, 520 - 3rd Avenue S.W., Calgary, Alberta T2P 0R3.

What is Vermilion Energy Inc.'s Standard Industrial Classification code?

Vermilion Energy Inc.'s Standard Industrial Classification code is 1311, which corresponds to Crude Petroleum & Natural Gas.

From the Filing

0001279569-24-001341.txt : 20241107 0001279569-24-001341.hdr.sgml : 20241107 20241106173805 ACCESSION NUMBER: 0001279569-24-001341 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20241106 FILED AS OF DATE: 20241107 DATE AS OF CHANGE: 20241106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VERMILION ENERGY INC. CENTRAL INDEX KEY: 0001293135 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: A0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35829 FILM NUMBER: 241432400 BUSINESS ADDRESS: STREET 1: 3500, 520 - 3RD AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0R3 BUSINESS PHONE: 403-269-4884 MAIL ADDRESS: STREET 1: 3500, 520 - 3RD AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 0R3 FORMER COMPANY: FORMER CONFORMED NAME: VERMILION ENERGY TRUST DATE OF NAME CHANGE: 20040607 6-K 1 vermilion6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 Under the Securities Exchange Act of 1934 For the month of November 2024 Commission File Number: 001-35829 Vermilion Energy Inc. (Exact name of registrant as specified in its charter) 3500, 520 – 3 rd Avenue S.W., Calgary, Alberta T2P 0R3 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☐ Form 40-F ☒ Exhibit Exhibit Description 99.1 News Release dated November 6, 2024 - Vermilion Energy Inc. Announces Results for the Three and Nine Months Ended September 30, 2024 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 	 	 VERMILION ENERGY INC. By: /s/ Lars Glemser Title: Lars Glemser, VP and Chief Financial Officer Date: November 6, 2024 EX-99.1 2 ex991.htm NEWS RELEASE DATED NOVEMBER 6, 2024 Exhibit 99.1 Vermilion Energy Inc. Announces Results for the Three and Nine Months Ended September 30, 2024 CALGARY, AB, Nov. 6, 2024 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and nine months ended September 30, 2024. The unaudited interim financial statements and management discussion and analysis for the three and nine months ended September 30, 2024 will be available on the System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") at www.sedarplus.ca , on EDGAR at www.sec.gov/edgar.shtml , and on Vermilion's website at www.vermilionenergy.com . Highlights Q3 2024 fund flows from operations ("FFO") (1) was $275 million ($1.76/basic share) (2) , representing a 16% increase over the prior quarter, primarily due to stronger European gas prices. Benchmark TTF Day Ahead pricing increased 14% over the prior quarter, averaging $15.52/mmbtu in Q3 2024, and European gas was the only commodity in our portfolio that increased quarter-over-quarter and year-over-year. As a result of strong European gas prices, our corporate average realized natural gas price in Q3 2024 was $6.57/mcf, compared to $0.69/mcf for the AECO 5A benchmark. Net earnings for Q3 2024 was $52 million ($0.33/basic share), an increase of $134 million over the prior quarter primarily due to a more normalized mark-to-market adjustment on our hedge book. We invested $121 million in exploration and development ("E&D") capital expenditures (3) , resulting in free cash flow ("FCF") (4) of $154 million ($0.98/basic share) (5) , of which $59 million was returned to shareholders, including $19 million in dividends and $40 million of share buybacks,

View on Read The Filing