Vermilion expects Q3 production at upper-end of forecast

Vermilion Energy

11/09/2023 11:43

Sept 11 (Reuters) - Canada's Vermilion Energy  VET.TO 
said on Monday that it sees current quarter production at the
upper-end of its forecast after restarting production at its
projects in Australia and Ireland. 
    The company has completed the remaining inspection and
repair work at its Wandoo project in Australia and expects to
produce 4,000 barrels of oil per day in the fourth quarter from
the country, according to a statement. 
    Vermilion expects to generate over $100 million of free cash
flow from Australia in 2024 aided by the crude oil from Wandoo,
which sells at a premium against benchmark brent crude  LCOc1 . 
    The Calgary, Alberta-based company has also completed
maintenance at its Corrib facility in Ireland ahead of schedule
and forecast production of 10,000 barrels of oil equivalent per
day (boepd) for the quarter ended Dec. 31.
    The company now expects third-quarter production at the
upper end of its outlook of 80,000 to 83,000 boepd.    
    It kept its full-year and fourth-quarter outlook unchanged. 
        
    

 (Reporting by Sourasis Bose in Bengaluru; Editing by Mrigank
Dhaniwala)
 ((Sourasis.Bose@thomsonreuters.com;))