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Vermilion Energy Inc T.VET

Alternate Symbol(s):  VET

Vermilion Energy Inc. is a Canada-based international energy producer. The Company seeks to create value through the acquisition, exploration, development, and optimization of producing assets in North America, Europe, and Australia. Its business model emphasizes free cash flow generation and returning capital to investors when economically warranted, augmented by value-adding acquisitions. The Company’s operations are focused on the exploitation of light oil and liquids-rich natural gas conventional and unconventional resource plays in North America and the exploration and development of conventional natural gas and oil opportunities in Europe and Australia. The Company operates through seven geographical segments: Canada, the United States, France, Netherlands, Germany, Ireland, and Australia. In Canada, the Company is a key player in the highly productive Mannville condensate-rich gas play. It holds a 100% working interest in the Wandoo field, offshore Australia.


TSX:VET - Post by User

Comment by Oldnaggeron Aug 16, 2021 10:50am
146 Views
Post# 33709706

RE:RE:How did they lose all their money?

RE:RE:How did they lose all their money?They did not lose all the money they made in Q2 outside of what has been reported , In fact cash flows were as projected and profits were very high (probably due to a reversal of previous write downs. The increase in debt levels is probably solely due to accounting provisions for future losses on their hedge book (mark tp market) These provisions are very misleading. They will disappear if the commodity price should fall below the strike prices. On the other hand if commodity prices stay the same or go higher then they will be more than covered by the corresponding physical trade.
I am not an accountant, so if my understanding is wrong , I would appreciate being corrected by a more qualified person !!
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