Calgary-based Vermilion Energy Inc., whose North American exploration expertise extends overseas, said it is advancing key growth projects to add more “premium-priced” European natural gas to the portfolio, while divesting higher cost assets in Canada. 

“With this high-graded asset base, we were able to deliver on the midpoint of our annual production guidance of 84,000 boe/d, despite wildfire-related downtime in Western Canada and unplanned downtime in Australia,” executives said in the fourth quarter results. 

“Fire-related” downtime last year had led to the loss of around 30,000 boe/d in the West Central Alberta exploration and production (E&P) operations.

“Our ability to meet annual production guidance highlights the advantages of operating a diversified...