Vermilion Energy (VET) Announces 2016 Budget of $285M
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Vermilion Energy Inc. Announces 2016 Budget
January 5, 2016 4:59 PM ESTCALGARY, Jan. 5, 2016 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Us", or "Our") (TSX, NYSE: VET) is pleased to announce that our Board of Directors has approved an exploration and development ("E&D") capital budget for 2016 of $285 million.
Highlights
Budgeted E&D investment of $285 million for 2016 represents a 41% decrease from 2015 forecasted E&D investment of $485 million, and a 59% decrease from 2014 investment of $688 million. Production guidance for 2016 is 62,500 to 63,500 boe/d, representing year-over-year growth of approximately 15%. At current strip prices, Vermilion expects to... More