Vermilion Energy Reports Q2 FFO Per Share Of $1.10
Portfolio Pulse from Benzinga Newsdesk
Vermilion Energy (NYSE:VET) reported Q2 2023 FFO of $1.10 per share, a 1% increase from the previous quarter. The increase is attributed to the acquisition of additional working interest in the Corrib Natural Gas Project in Ireland and new production from Mica Montney, United States, and southeast Saskatchewan assets. However, the disposition of higher-cost assets in southeast Saskatchewan and fire-related downtime in West Central Alberta partially offset the increase.
August 04, 2023 | 12:22 pm
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POSITIVE IMPACT
Vermilion Energy's Q2 2023 FFO per share increased by 1% QoQ due to acquisitions and new production. However, the disposition of assets and fire-related downtime partially offset the increase.
The increase in Vermilion Energy's FFO per share is a positive sign, indicating successful acquisitions and increased production. However, the disposition of assets and fire-related downtime could have a negative impact on future earnings. The overall impact is likely to be positive in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100