Vermilion entered the U.S. in 2014, acquiring 53,000 net acres of land in the Turner Sand play in the Powder River Basin of northeastern Wyoming.
Encouraging initial results prompted Vermilion to consolidate its working interest in the Turner Sand project area to 100% through the acquisition of the remaining 30% interest in 2015.
We subsequently acquired additional lands in May 2016 and August 2018, and completed a strategic acquisition in 2021 to further consolidate our land base. The Company now holds approximately 125,000 net acres of land in this promising light oil Play. Our United States office is in Denver, Colorado.
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In Canada, Vermilion is a key player in the highly productive Mannville condensate-rich gas play. In addition, we hold a dominant land position in the West Pembina Cardium resource play, in the Peace River Arch in British Columbia and Alberta and have a high-working interest position in southeast Saskatchewan. In the United States, Vermilion has a significant land position in the promising Turner Sand play in the Powder River Basin. Our North American assets represent approximately 60% of our total corporate production.
Vermilion’s European assets consist of onshore and offshore operations that deliver premium commodity pricing through Brent-priced light oil production and European natural gas prices trade at a significant premium to North American benchmarks. Our European assets contribute approximately one-third of total corporate production.
Vermilion holds a 100% working interest in the Wandoo field, offshore Australia. Vermilion’s Australian oil production receives premium pricing due to Brent-indexing and the strong, long-term, strategic relationships we have cultivated with our key customers in the region.