Vermilion Energy reports US$1.3 billion loss for March quarter

CANADA-based oil and gas operator Vermilion Energy got slugged in the March quarter, reporting a net loss of US$1.3 billion due to a US$1.2 billion writedown in the value of its assets thanks to low oil prices.

Vermilion Energy reports US$1.3 billion loss for March quarter Vermilion Energy reports US$1.3 billion loss for March quarter Vermilion Energy reports US$1.3 billion loss for March quarter Vermilion Energy reports US$1.3 billion loss for March quarter Vermilion Energy reports US$1.3 billion loss for March quarter

Monthly dividend reduced by half

 

The company has assets across the globe in France, the Netherlands, Canada and Australia.