RE:RE:RE:RE:Vermilion Energy Lowers 2021 Exploration Budget To $300MI'd much rather see mangement slay the debt beast first then mix between continued debt reduction,buybacks and div in 2022.
I want to see what the total debt is exiting 2020...hoping for ~2b or slightly under would be amazing.
If they can exit 2021 with under 1.5 billion in debt its been a great year.
If wti (and other other benchmark) prices hold or even go up some and they can exit 2021 with closer to 1b in debt, it will be a total game changer.
I think covid can be a blessing in disguise for vermillion longterm. Management held onto the div a little too long now they have that ~$450m annual savings and a real opportunity to clean up the balance sheet. Take the time and set vermillion up for years to come.