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BRIEF-Vermilion Energy Sees budgeted E&D investment of $285 million for 2016

Published 2016-01-05, 05:12 p/m
© Reuters.  BRIEF-Vermilion Energy Sees budgeted E&D investment of $285 million for 2016
VET
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Jan 5 (Reuters) - Vermilion Energy Inc VET.TO :
* Announces 2016 budget
* Sees budgeted E&D investment of $285 million for 2016
* Says production guidance for 2016 is 62,500 to 63,500 boe/d, representing
year-over-year growth of approximately 15%
* Has the operational flexibility to further reduce its 2016 e&d program if
commodity prices continue to weaken"
* Says expect to deliver year-over-year production growth of approximately 15%
in 2016
* Highly unlikely" that we would elect to invest more than our original 2016
target of $350 million into e&d activities
* Says expect to maintain current $0.215 per share monthly dividend
* Says "has the operational flexibility to further reduce its 2016 e&d program
if commodity prices continue to weaken"
* Says expects to fully fund 2016 e&d expenditures and cash dividends from fund
flows from operations

* Source text for Eikon ID:nPn7jk4N8

* Further company coverage VET.TO

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