Very refreshing Bloomberg interview with CFO Lars Gemsler https://www.bloomberg.com/news/videos/2021-09-29/vermilion-s-glemser-baytex-s-gray-on-canadian-energy-market
It sure was great to see Vermilion getting out there and talking about their company finally. This is what we need from management, a young guy out there clearly communicating. Some takeaways..
FCF for '21 of $400 million ($2.50 per share)....Can't wait for '22.
Getting $20 for natural gas in Europe.
Commitment to shareholder return in '22.
Honesty that they made a mistake by paying out the dividend for too long.
Keeping production flat to low 80 million bpd for coming years, keeping spending down to about $375 million per year is what the investment community wants to hear.
Talking clean energy because that's what you have to do these days.
it was interesting to see an interview with 2 CEO's from different companies but my final takeaway was that VET will be starting a dividend before BTE. It was kind of expressed by Gray that Baytex was going to buyback shares first as they have 564 million shares outstanding compared to only 162 million shares for VET. I think both companies are well positioned to see succeed and was very impressed by both CFO's.