Unidentified Shareholder's questions to Vermilion Energy Inc (VET) leadership • Q1 2024
Question
An unidentified shareholder asked about the production decline at the Corrib asset and how the company plans to offset its diminishing free cash flow.
Answer
President and CEO Anthony Hatcher acknowledged Corrib's natural decline but noted it remains a strong cash flow generator with a life extending to the mid-2030s thanks to optimization projects. He stated the strategy is not to drill expensive new wells there, but rather to redeploy the substantial free cash flow from Corrib into more attractive onshore growth projects in Germany and the Netherlands, thereby growing the company's overall free cash flow.