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Vermillion Energy declares 2016 budget


Published Jan 7, 2016
Vermilion Energy Inc.

Vermilion Energy Inc. discloses that its Board of Directors has approved an exploration and development capital budget for 2016 of $285 million.

Our 2016 E&D budget of $285 million is a reduction of $65 million or 19% from our preliminary 2016 expenditure guidance of $350 million (announced in November 2015), and a decrease of $200 million or 41% from our projected 2015 E&D expenditures of approximately $485 million.

This marks the second year-over-year decrease in E&D spending in response to lower commodity prices, and a total reduction in annual E&D investment of more than $400 million (59%) as compared to 2014.

Tags: Vermilion Energy Inc.




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