Unidentified Questioner 2's questions to Vermilion Energy Inc (VET) leadership • Q1 2024
Question
An unidentified questioner asked for clarification on the company's reserve bookings, likely in the context of recent changes or write-downs.
Answer
President and CEO Anthony Hatcher explained that the company is strategically allocating more capital to high-potential assets like the Montney. This shift means other areas, specifically in Alberta and Saskatchewan, will receive less investment. While Vermilion still holds those lands, the lack of near-term capital allocation affects how reserves are recognized, leading to changes in the reserve book. He emphasized that the focus is on underbooked, high-return assets in the Montney and Germany.