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Bullboard - Stock Discussion Forum 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... see more

TSX:VET - Post Discussion

Vermilion Energy Inc > New board member
View:
Post by whoLuLu on Oct 19, 2021 12:43pm

New board member

Vermilion Energy Inc. announces the appointment of a new board member

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CALGARY, AB Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce the appointment of Mr. James J. Kleckner Jr. to our Board of Directors.

Mr. Kleckner has more than 35 years of experience in various executive and senior leadership roles. He was most recently Chief Executive Officer of Jagged Peak Energy with a focus on production and development in the Permian Basin, achieving production of approximately 50,000 boe/d prior to it being acquired by Parsley Energy. Prior to that, Mr. Kleckner held a number of executive positions with Anadarko Petroleum Corporation, including Executive Vice President, International Operations and Vice President, Operations. From 1999 through 2006, he was Vice President, US Onshore & International Operations with Kerr McGee Corporation. He has extensive operational and technical experience in US onshore resource plays and international oil and gas operations. During his career, he held leadership roles responsible for a full range of exploration, development, production and operational priorities, including mergers and acquisitions, health safety and environment, community and government relations and enterprise risk management.

Mr. Kleckner currently serves as a member of the Board of Directors for Great Western Petroleum, a private company. Previously, he served as a member of the Board of Directors of Jagged Peak Energy and Parsley Energy Inc. Mr. Kleckner also served as a Board member of two private companies: Delonex Energy Limited and Hawkwood Energy LLC. He has served on the Industry and Advisory Board of the School of Energy Research at the University of Wyoming, the Petroleum Engineering Advisory Board at the Colorado School of Mines, the Executive Board for the Colorado Oil and Gas Association, and the Executive Board for the Independent Petroleum Association of Mountain States.

Mr. Kleckner holds a B.Sc. in Petroleum Engineering from the Colorado School of Mines and is a member of the Society of Petroleum Engineers.

We are excited to welcome Mr. Kleckner to our Board of Directors, and look forward to the contributions his diverse skills, perspectives and expertise will make to Vermilion’s ongoing success.

About Vermilion

Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing assets in North America, Europe and Australia. Our business model emphasizes free cash flow generation and returning capital to investors when economically warranted, augmented by value-adding acquisitions. Vermilion’s operations are focused on the exploitation of light oil and liquids-rich natural gas conventional resource plays in North America and the exploration and development of conventional natural gas and oil opportunities in Europe and Australia.

Vermilion’s priorities are health and safety, the environment, and profitability, in that order. Nothing is more important to us than the safety of the public and those who work with us, and the protection of our natural surroundings. In addition, Vermilion emphasizes strategic community investment in each of our operating areas. We have been recognized as a strong performer amongst Canadian publicly listed companies in governance practices, a Climate Leadership level (A-) performer by the CDP, and a Best Workplace in the Great Place to Work® Institute’s annual rankings in Canada and Germany.

Employees and directors hold approximately 5% of our outstanding shares and are committed to delivering long-term value for all stakeholders. Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

Comment by Frost19 on Oct 19, 2021 4:35pm
Does the addition of Mr. Kleckner to the board mean that Vermillion is looking for a buyer? He's in his mid 60's, with 35+ years experience. He's a veteran O&G player who was CEO of a company that he sold about a year ago.   Kleckner's got a lot of money and could do whatever he wants. He was wealthy even before he got his golden parachute this year. He can do whatever ...more  
Comment by navajojoe on Oct 19, 2021 4:57pm
This post has been removed in accordance with Community Policy
Comment by geemonet on Oct 20, 2021 12:07pm
Interesting analysis. Option 2 they brough him in to go shopping. 
Comment by prested on Oct 20, 2021 2:42pm
Interesting analysis Frost. Thank you. If the company is destined to be sold, what price would you put on it?
Comment by navajojoe on Oct 20, 2021 2:56pm
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Comment by whoLuLu on Oct 20, 2021 3:00pm
Agree, doubt very much VET is being groomed for sale.
Comment by Frost19 on Oct 20, 2021 3:29pm
Hi Navajojoe, What glaring errors? It's just my guess, on why Vermillion would want him and why he would want to join Vermillion and I said as much. I never mentioned anything about this being a reason to buy/sell shares based on my wild hunch. I would never suggest anyone do that. Everyone do their own DD. I'm here to learn and “get better” as most are. Not being sarcastic (I ...more  
Comment by navajojoe on Oct 20, 2021 4:16pm
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Comment by geemonet on Oct 20, 2021 4:49pm
Our market cap is 2.19 bill. 
Comment by navajojoe on Oct 20, 2021 5:46pm
This post has been removed in accordance with Community Policy
Comment by sclarda on Oct 20, 2021 9:02pm
navajojoe  wrote Technically, you are correct. But since that number is entirely useless, I always include the debt. Yes, i should use the term "enterprise value", but any investor worth 2 cents would know what I meant. ----------------------------------------------  "but any investor worth 2 cents would know what i meant,"           ...more  
Comment by sclarda on Oct 20, 2021 5:17pm
navajojoe wrote You said:   " The company he sold for 2.3B had 50k beo/d. Vermillion has almost twice that production but similar market cap." Our production is quite a bit short of 10,000 boed, and our market cap is a heck of a lot more than 2.3 billion. I assume you forgot about the debt? I like VET, but we need to be accurate in our analysis. ------------------------- ...more  
Comment by navajojoe on Oct 20, 2021 5:42pm
This post has been removed in accordance with Community Policy
Comment by Frost19 on Oct 20, 2021 7:42pm
I see some others have posted and I don't want to pile on too much.  ~87k is "almost double" 50k...not sure why you consider that statement a glaring error.  2.19B is similar to 2.3B in market cap so again not sure where the glaring error is there. I never mentioned anything about EV. That part of my original post was merely pointing out that Kleckner came from a ...more  
Comment by navajojoe on Oct 20, 2021 10:01pm
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Comment by Frost19 on Oct 21, 2021 10:24am
You posted that Kleckner sold a company for $2.3B, and then compared that to VET's 'market cap'. But the $2.3B sales price would have included debt, so you are comparing their EV to our market cap, which is totally misleading. You can’t compare the sale price to a market cap or even EV with 100% accuracy which is why I chose market cap as a generalization. My point was to suggest ...more  
Comment by navajojoe on Oct 21, 2021 10:50am
This post has been removed in accordance with Community Policy
Comment by geemonet on Oct 22, 2021 1:48am
Here's an interesting question for ya what company out there is the most similar to VET?   
Comment by whoLuLu on Oct 22, 2021 7:11am
well Oldnagger once suggested that IPCO might be a candidate
Comment by Oldnagger on Oct 22, 2021 8:24am
There are a lot of similarities, Ipco is half the size of VET but more heavily concentrated on heavy crudes in Canada. Shares crude with VET in France . Also has some  Malaysian production. Perhaps a good fit because IPCO has very large contingent reserves. One thing though is that Ipco has huge financing possibilities as part of the Lundin Group. Maybe they should merge with Vet so as to ...more  
Comment by sclarda on Oct 21, 2021 3:53pm
Frost19 wrote I see some others have posted and I don't want to pile on too much.  ~87k is "almost double" 50k...not sure why you consider that statement a glaring error.  2.19B is similar to 2.3B in market cap so again not sure where the glaring error is there. I never mentioned anything about EV. That part of my original post was merely pointing out that Kleckner ...more  
Comment by Frost19 on Oct 20, 2021 8:00pm
A lot higher than where it is now. Not a good answer but I really don't know.
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