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Vermilion Energy (NYSE: VET) lifts output and reshapes European assets

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6-K

Rhea-AI Filing Summary

Vermilion Energy Inc. reports strong Q1 2026 production of about 125,000 boe/d, above its guidance range of 122,000 to 124,000 boe/d. Output was 59% Canadian gas, 13% European gas and 28% liquids, helped by strong Deep Basin and Montney wells and the Osterheide well in Germany.

The company agreed to acquire German assets producing about 1,000 boe/d (85% gas), added three new German concessions that more than double its acreage there to over 1 million net acres, and signed a deal to sell its remaining 60% interest in Croatia’s SA-07 block for roughly €15MM ($24MM), with proceeds mainly earmarked for debt reduction. Vermilion plans to release full Q1 2026 financials and hold its virtual annual meeting on May 6, 2026.

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Insights

Vermilion boosts production while fine-tuning its European portfolio.

Vermilion Energy delivered Q1 2026 production of about 125,000 boe/d, topping guidance and benefiting from higher realized European gas pricing of roughly $16/MMBtu. This indicates solid operational execution across Canadian gas, European gas and liquids assets.

The company is reshaping its European footprint by acquiring low-decline German production of about 1,000 boe/d and securing three new German concessions, which lift its acreage there to over 1 million net acres. These moves emphasize long-life, gas-weighted exposure.

Vermilion is also exiting non-producing Croatian acreage, selling its remaining 60% interest in SA-07 for about €15MM (approximately $24MM), with proceeds mainly going to debt reduction. Upcoming Q1 2026 financial results and the May 6, 2026 annual meeting will provide more detail on capital allocation and portfolio performance.

Q1 2026 production 125,000 boe/d Average daily production, above 122,000–124,000 boe/d guidance
Production mix 59% Canadian gas, 13% European gas, 28% liquids Q1 2026 product mix
European gas realized price $16/MMBtu Average Q1 2026 sales price
German assets production 1,000 boe/d Low-decline output from BEB and MEEG assets, 85% gas
Croatia SA-07 proceeds €15MM (~$24MM) Net proceeds from divesting remaining 60% interest
Australian oil production 1,000 bbl/d Average Q1 2026 Wandoo output amid cyclone downtime
Australian oil exports 300,000 barrels Exported in February 2026
German acreage Well over 1 million net acres After adding three new concessions in North German Basin
boe/d financial
"Q1 2026 production averaged approximately 125,000 boe/d, exceeding the top end of our quarterly guidance range"
A measure of energy production that converts oil and gas output into a single daily figure — barrels of oil equivalent per day — so different fuels can be compared on the same scale. Think of it like converting miles and kilometers into one unit before comparing distances: investors use boe/d to judge how much total hydrocarbon output a company generates, estimate revenue potential, and compare production efficiency across firms or projects.
TTF-linked gas financial
"The acquisition increases Vermilion's European TTF-linked gas and Brent-linked oil production"
free cash flow financial
"enhances associated excess free cash flow(1), and provides strategic value"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
non-producing asset financial
"the divestment of a non-producing asset in Croatia"
concessions financial
"successfully added three concessions in the North German Basin that offer potential upside"
Concessions are deliberate incentives or compromises offered by a seller, issuer, or underwriter—such as price discounts, extra shares, fee reductions, or other sweeteners—to make an investment or transaction more attractive. Like a store marking down an item to entice buyers, concessions matter to investors because they lower expected returns or signal weaker demand, changing the true cost, value and risk of the deal.
effective date regulatory
"with an effective date of January 1, 2025"
The effective date is the specific calendar day when a contract, regulatory action, corporate change, or financial disclosure officially begins to apply and take legal or operational effect. For investors, it marks the moment rules, obligations, ownership, pricing, or reporting change—similar to the exact minute a light switch is flipped—so it determines when rights, liabilities, or market impacts start and which periods or transactions are affected.
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Form 6-K: How Foreign Companies Report to the SEC →

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16

Under the Securities Exchange Act of 1934

 

For the month of April 2026

 

Commission File Number: 001-35829

 

Vermilion Energy Inc. 

 

(Exact name of registrant as specified in its charter)

 

 

3500, 520 – 3rd Avenue S.W., Calgary, Alberta T2P 0R3

 

 (Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☐ Form 40-F ☒

 

 

 

 
 

 

 

 

Exhibit
 
Exhibit   Description
     
99.1   News Release dated April 7, 2026 - Vermilion Energy Inc. Reports Strong Q1 2026 Production and Advances Portfolio Repositioning with Germany Strategic Acquisition, Award of New Land Concessions and Croatia SA-07 Divestment

 

 

 
 

 

 

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.      

 

VERMILION ENERGY INC.

 

 

     
By:   /s/ Lars Glemser
Title:   Lars Glemser, VP and Chief Financial Officer


 Date: April 7, 2026

Exhibit 99.1 

 

Vermilion Energy Inc. Reports Strong Q1 2026 Production and Advances Portfolio Repositioning with Germany Strategic Acquisition, Award of New Land Concessions and Croatia SA-07 Divestment

CALGARY, AB, April 7, 2026 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", or the "Company") (TSX: VET) (NYSE: VET) announces strong first quarter 2026 production, an asset acquisition and award of new land concessions in Germany, and the divestment of a non-producing asset in Croatia.

Operations Update

Q1 2026 production averaged approximately 125,000 boe/d, exceeding the top end of our quarterly guidance range of 122,000 to 124,000 boe/d. Production was comprised of approximately 59% Canadian gas, 13% European gas and 28% liquids. This strong production result is driven by outperformance in both the Deep Basin and Montney, robust production from the Osterheide well in Germany, and new Montney wells brought online sooner than anticipated, partially offset by lower volumes in Australia due to cyclone-related downtime.

European gas production in Q1 2026 realized an average sales price of approximately $16/MMBtu, reflecting significantly higher day-ahead gas prices during March 2026 amid heightened geopolitical developments in the Middle East. We remain on track to bring on new production from the first Wisselshorst well in Germany by mid-year, spud the next Netherlands well in the second half of 2026, and spud follow-up Germany Wisselshorst wells on the Bommelsen license in early 2027.

In Australia, production operations at Wandoo safely resumed in mid-March 2026 following downtime related to Cyclone Mitchell in February 2026. The facility was subsequently shut-in due to Cyclone Narelle in late March 2026. We are currently assessing the impact of this most recent event and expect to restore production in early Q2 2026. Average production in Australia during the quarter was approximately 1,000 bbl/d, and we exported approximately 300,000 barrels of oil in February 2026.

Portfolio Repositioning

In March 2026, we signed agreements to acquire certain producing assets in Germany from BEB Erdgas und Erdöl GmbH & Co. KG ("BEB") and Mobil Erdgas-Erdöl GmbH ("MEEG") in Germany, which are currently producing approximately 1,000 boe/d of low decline production (85% natural gas) with an effective date of January 1, 2025.

The acquisition increases Vermilion's European TTF-linked gas and Brent-linked oil production, enhances associated excess free cash flow(1), and provides strategic value through increased control over gathering infrastructure surrounding our Osterheide well. The assets are adjacent to our existing operations and offer future European natural gas development upside. The acquisition is expected to close in the second half of 2026.

During Q1 2026, Vermilion successfully added three concessions in the North German Basin that offer potential upside for our deep gas exploration program. These new concessions are located adjacent to existing Vermilion acreage in Germany and double Vermilion's acreage in the country to well over 1 million net acres.

Also in March 2026, we signed an agreement to divest our remaining 60% interest in the SA-07 block in Croatia for net proceeds of approximately €15MM ($24MM). The asset has no production. The proceeds will be primarily used for incremental debt reduction, with the transaction expected to close in the second half of 2026. We continue to produce and generate excess free cash flow from our SA-10 block (100% natural gas) in Croatia.

Q1 Release Date and Conference Call and Webcast Details

We will provide additional details when we release our 2026 first quarter operating and condensed financial results on Wednesday, May 6, 2026, before the open of North American markets. The unaudited interim financial statements and management discussion and analysis for the three months ended March 31, 2026, will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR+") at www.sedarplus.ca, on EDGAR at www.sec.gov/edgar.shtml, and on Vermilion's website at www.vermilionenergy.com.

Vermilion will discuss these results in a conference call and webcast presentation on Wednesday, May 6, 2026, at 8:00 AM MT (10:00 AM ET). To participate, call 1-888-510-2154 (Canada and US Toll Free) or 1-437-900-0527 (International and Toronto Area). A recording of the conference call will be available for replay by calling 1-888-660-6345 (Canada and US Toll Free) or 1-289-819-1450 (International and Toronto Area) and using conference replay entry code 81761# from May 6, 2026, at 12:00 PM MT to May 13, 2026, at 12:00 PM MT.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/4lXhj3k to receive an instant automated call back. You may also access the webcast at https://app.webinar.net/Z02K9Bq8g4m. The webcast link will be available on Vermilion's website at https://www.vermilionenergy.com/invest-with-us/events-presentations/ under Upcoming Events prior to the conference call. Participants who would like to submit questions ahead of time may do so by emailing investor_relations@vermilionenergy.com. 

Annual General Meeting

Vermilion will hold its Annual General Meeting on May 6, 2026 at 3:00 pm MT. Our Meeting will be held as a virtual only shareholder meeting with participation electronically as explained further in the Management Information Circular. As a reminder, proxies must be received by 3:00 pm MT on Monday, May 4, 2026.

Shareholders can participate electronically at https://meetings.lumiconnect.com/400-593-993-161. Please see our Virtual Meeting Guide at https://www.vermilionenergy.com/wp-content/uploads/2026/03/Meeting-Guide.pdf for detailed instructions on how to access the meeting, vote on resolutions and submit questions. Guests may also view the event at https://meetings.lumiconnect.com/400-593-993-161 by registering as a guest. The live webcast link, webcast slides, and archive link will be available on Vermilion's website at https://www.vermilionenergy.com/invest-with-us/events-presentations.

Please visit the Annual General Meeting page on our website under Invest with Us for complete details and links to all relevant documents ahead of the Meeting at https://www.vermilionenergy.com/annual-general-meeting.

The Board of Directors of Vermilion recommends that Shareholders
vote FOR ALL proposed items

Vermilion encourages shareholders to read the meeting material, which have been filed on SEDAR+ (www.sedarplus.ca) and on the Company's website at www.vermilionenergy.com.

(1) Excess free cash flow ("EFCF") is a non-GAAP financial measures most directly comparable to cash flows from operating activities. EFCF is calculated as fund flows from operations less drilling and development costs, exploration and evaluation costs, payments on lease obligations and asset retirement obligations settled. EFCF is used by management to determine the funding available to return to shareholders after costs attributable to normal business operations.

About Vermilion

Vermilion is a global gas producer that seeks to create value through the acquisition, exploration and development of liquids-rich natural gas in Canada and conventional natural gas in Europe while optimizing low-decline oil assets. Our repositioned portfolio is focused on per share value creation, with long-life assets that deliver top decile realized gas prices and enhanced capital allocation optionality.

Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important than the safety of the public and those who work with Vermilion, and the protection of the natural surroundings. In addition, the Company emphasizes strategic community investment in each of its operating areas.

Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

View original content to download multimedia:https://www.prnewswire.com/news-releases/vermilion-energy-inc-reports-strong-q1-2026-production-and-advances-portfolio-repositioning-with-germany-strategic-acquisition-award-of-new-land-concessions-and-croatia-sa-07-divestment-302736236.html

SOURCE Vermilion Energy Inc.

 

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2026/07/c8070.html

%CIK: 0001293135

For further information: For further information please contact: Dion Hatcher, President & CEO and/or Lars Glemser, Vice President & CFO, TEL (403) 269-4884, IR TOLL FREE 1-866-895-8101, investor_relations@vermilionenergy.com, www.vermilionenergy.com

CO: Vermilion Energy Inc.

CNW 17:00e 07-APR-26

Source: View Original Filing on SEC EDGAR

FAQ

How did Vermilion Energy (VET) perform operationally in Q1 2026?

Vermilion Energy reported strong Q1 2026 production of about 125,000 boe/d, exceeding its guidance range of 122,000 to 124,000 boe/d. Output was 59% Canadian gas, 13% European gas and 28% liquids, reflecting strong wells in Canada and Germany.

What is included in Vermilion Energy’s new Germany acquisition?

Vermilion signed agreements to acquire producing assets in Germany from BEB and MEEG, currently generating about 1,000 boe/d of low-decline production, 85% natural gas. The assets are adjacent to existing operations and enhance control over gathering infrastructure around the Osterheide well.

How is Vermilion Energy repositioning its European portfolio in 2026?

Vermilion is acquiring German gas-weighted production, adding three new concessions in the North German Basin that more than double its German acreage to over 1 million net acres, and divesting its remaining 60% interest in Croatia’s non-producing SA-07 block for approximately €15MM ($24MM).

What are the terms of Vermilion Energy’s Croatia SA-07 divestment?

Vermilion signed an agreement to sell its remaining 60% interest in the SA-07 block in Croatia, which has no production, for net proceeds of about €15MM ($24MM). The company plans to use the proceeds primarily for incremental debt reduction, with closing expected in the second half of 2026.

What pricing did Vermilion Energy realize on European gas in Q1 2026?

In Q1 2026, Vermilion’s European gas production realized an average sales price of about $16/MMBtu. This reflected significantly higher day-ahead gas prices in March 2026 amid heightened geopolitical developments in the Middle East, supporting stronger revenue from its European gas portfolio.

When will Vermilion Energy release Q1 2026 financial results and hold its AGM?

Vermilion plans to release its 2026 first quarter operating and condensed financial results on May 6, 2026, before North American markets open. The company will hold a virtual-only Annual General Meeting later the same day at 3:00 pm MT, with details provided in its meeting materials.

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