Post by
Quintessential1 on Nov 07, 2024 9:20am
CIBC
First Look: Q3/24 Results Above Our Estimates And Consensus Vermilion reported Q3/24 results which were above our expectations and consensus. Variances to our estimates stemmed exclusively from lowerthan-expected cash taxes. Key takeaways from the quarter include reiterating the tie-in timing of H1/25 for the first German well which tested at 17 MMcf/d, discovery of a significant gas pool with the second German exploration well, and the tightening of the 2024 production guidance range to 84,000 to 85,000 Boe/d (modestly below our full-year estimate of 85,678 Boe/d and consensus of 84,839 Boe/d. Financial And Operating Takeaways: •
Q3/24 results. Production of 84,173 Boe/d was in line with our expectations of 85,305 Boe/d and consensus of 84,048 Boe/d (range 82,545 to 85,305 Boe/d). Adjusted FFO per share of $1.75 was ~7% above our estimate of $1.63 and ~9% above consensus of $1.61 (range of $1.50 to $1.72). Capex of ~$121 MM was below our estimate of ~$162 MM and consensus of ~$162 MM (range of $154 MM to $175 MM).
GLTA