Brief: Vermilion Energy Inc Announces 2023 Budget And Guidance

Vermilion Energy

06/01/2023 12:12

Jan 6 (Reuters) - Vermilion Energy Inc  VET.TO :
    * VERMILION ENERGY INC. ANNOUNCES 2023 BUDGET AND GUIDANCE,
25%
DIVIDEND INCREASE AND RESUMPTION OF SHARE BUYBACKS
    * VERMILION ENERGY - 2023 CAPITAL BUDGET OF $570 MILLION
    * VERMILION ENERGY INC - FORECAST 2023 FREE CASH FLOW OF
APPROXIMATELY $800 MILLION
    * VERMILION ENERGY INC- SEES 2023 PRODUCTION GUIDANCE OF
87,000 -
91,000 BOE/D REPRESENTS A YEAR-OVER-YEAR INCREASE OF ABOUT 3% AT
MIDPOINT
    * VERMILION ENERGY - EXPECT TO RETURN UP TO 25% OF FCF TO
SHAREHOLDERS IN 2023 THROUGH BASE DIVIDEND, RESUMPTION OF SHARE
BUYBACKS, WITH BALANCE ALLOCATED TO DEBT REDUCTION
    * VERMILION ENERGY INC - QUARTERLY CASH DIVIDEND INCREASED
BY 25%
TO $0.10 CDN PER SHARE, EFFECTIVE WITH Q1 2023 DIVIDEND
    * VERMILION ENERGY INC - COMBINED IMPACT OF TEMPORARY
WINDFALL
TAXES AND HEDGING LOSSES HAS REDUCED OUR 2023 FCF FORECAST BY
APPROXIMATELY $350 MILLION

Source text for Eikon:  ID:nCNWdLVlHa 
Further company coverage:  VET.TO 
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