• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Vermilion loses $71.3 million in second quarter on 55 per drop in revenues

July 27, 20206:15 AM The Canadian Press0 Comments

CALGARY – Vermilion Energy Inc. is reporting a net loss of $71.3 million in its second quarter on a 55 per cent decrease in sales from a year earlier due mainly to the impact of the COVID-19 pandemic.

The Calgary-based company says the loss amounted to 45 cents per share for the three month period that ended June 30, compared with a one cent per share or $2 million increase in the second quarter of 2019.

The decrease in earnings and a 52 per cent drop in fund flows from operations was primarily due to significantly lower commodity prices as a result of the pandemic and OPEC plus Russia price war that started in early March.

Revenues fell to $193 million from $428 million a year ago.

Vermilion was expected to report 64 cents per share in earnings or a 57 cents per share adjusted loss on $190.9 million of sales, according to markets data firm Refinitiv.

Vermilion reported production of about 100,366 barrels of oil equivalent in the quarter, down from 103,003 boe/d in the year-earlier period.

Vermilion Energy

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Athabasca Oil Corporation announces 2020 year-end results
  • Peyto returns to profitability with Q4 2020 results
  • MEG Energy announces full year 2020 free cash flow of $129 million, debt repayment of $132 million and 28% year-over-year reduction in G&A expense
  • Briko Energy announces its 2020 year-end reserves and corporate update
  • Value of existing energy pipelines grows as ESG targets block new projects

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.