Vermilion CEO Says Canadian Investment Angst Won Better Spartan Deal

Vermilion Energy is capitalizing on opportunities in the Canadian oil market by acquiring Spartan Energy. Despite challenges like lower oil prices and infrastructure issues, the company sees high returns on its investment. CEO Anthony Marino discusses the benefits of Canadian light oil, comparing it to the Permian Basin, and outlines future growth plans in Europe, focusing on organic growth and potential acquisitions.

What was the main reason for Vermilion Energy's acquisition of Spartan Energy?

• To increase their presence in the Permian Basin

• To capitalize on high returns in the current commodity environment

• To diversify into renewable energy

• To exit the Canadian market

How does the Canadian light oil market compare to the Permian Basin in terms of costs?

• Lower costs due to the weak Canadian dollar

• Higher royalties and taxes

• More infrastructure constraints

• Higher severance taxes

What impact does the weak Canadian dollar have on Vermilion Energy's costs?

• Has no impact on costs

• Increases costs in Europe

• Reduces costs compared to the US

• Increases costs significantly

Why did Vermilion Energy choose to focus on light oil in Southeast Saskatchewan?

• To enter the renewable energy market

• To increase heavy oil production

• To compete directly with the Permian Basin

• To avoid high costs and infrastructure issues

What challenges does the Permian Basin face that Southeast Saskatchewan does not?

• Low oil prices

• High geological potential

• High differentials and infrastructure constraints

• Lack of investment opportunities

What is Vermilion Energy's strategy for future growth?

• Focusing solely on Canadian acquisitions

• Investing in renewable energy projects

• Expanding their European portfolio and organic growth

• Entering the Asian market

Which European country is Vermilion Energy planning to expand its drilling activities in next year?

• Italy

• France

• Spain

• Slovakia