Vermilion COO: Margins Remain High Despite Moderating Oil Prices

Vermilion Energy has been able to maintain margins and remain profitable despite the drop in oil and natural gas prices, said the company’s President and COO Anthony Marino. Marino added that demand for its diversified products continues to be robust worldwide, especially in Europe where the Ukrainian crisis is creating a need for alternative sources of natural gas. He said it is still expensive to replace natural production declines so he does not expect prices to drop much further. Finally, Marino said Vermilion's production growth profile remains strong both in North America, as well as Europe where the company's Ireland project is expected to come online next year.