Vermilion Energy Reports Q3 Net Loss Due to Unrealized Derivative Losses
Vermilion Energy (VET) reported a net loss of C$34.6 million for the third quarter, marking a significant swing from the C$2.56 million profit recorded in the same period last year. The downturn was primarily driven by substantial unrealized losses on derivative instruments. Despite the bottom-line deficit, the company's performance was partially bolstered by strong production and pricing in its European gas and crude oil segments. Following the earnings announcement, shares of Vermilion Energy fell 11.7% during Wednesday's trading session.
Tickers: $VET
Topics: derivative losses energy prices net loss quarterly earnings
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