Vermilion Energy Restarts Operations in Australia

Vermilion Energy, the Canadian energy producer, has recently resumed its operations in Australia following a period of repair work at the Wandoo facility. The company stated that it has completed all necessary inspection and repair work, allowing for the restart of production in early September.

Increased Production Forecasted

With the facility back in operation, Vermilion Energy anticipates initial production rates to reach approximately 4,000 barrels of oil per day in the fourth quarter. In addition, the company expects to generate around 100 million Canadian dollars ($73.3 million) in free cash flow from its Australian operations by 2024.

Successful Turnaround in Ireland

In Ireland, Vermilion Energy has successfully completed its planned turnaround at the Corrib operations. As a result, the company forecasts output of approximately 10,000 barrels of oil equivalent per day of European gas in the fourth quarter.

Impressive Third-Quarter Production

Thanks to these developments in both Australia and Ireland, Vermilion Energy is optimistic about its third-quarter production. The company believes that production levels will align with its upper guidance of between 80,000 and 83,000 barrels of oil equivalent per day.

Promising Future Outlook

Looking ahead, Vermilion Energy has raised its production forecast for the fourth quarter. The company now expects production levels to range between 86,000 and 89,000 barrels per day. However, for the full year, expectations remain unchanged at an average of 82,000 to 86,000 barrels per day.