6-K
Vermilion Energy Inc. (VET)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM6-K
REPORTOF FOREIGN PRIVATE ISSUER
Pursuantto Rule 13a-16 or 15d-16
Underthe Securities Exchange Act of 1934
Forthe month of May 2020
Commission File Number: 001-35829
VermilionEnergy Inc.
(Exact name of registrant as specified in its charter)
3500,520 – 3^rd^ 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<br> 20-F ☐ | Form<br> 40-F ☒ |
|---|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
| Yes<br> ☐ | No<br> ☒ |
|---|
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .
Exhibit
| Exhibit | Description |
|---|---|
| 99.1 | News Release dated May 25, 2020 - Vermilion Energy Inc. Announces CEO Departure and the Appointments<br>of Executive Chairman and President |
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: May 25, 2020
Exhibit 99.1
Vermilion Energy Inc. Announces CEO Departure and the Appointments of Executive Chairman and President
CALGARY, May 25, 2020 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) announces that Anthony Marino has stepped down as President and Chief Executive Officer and as a director of the Company, effective immediately. Mr. Marino made many contributions to Vermilion during his eight-year tenure with the Company, including various improvements to the cost structure and associated capital efficiencies. These core competencies will continue to serve the Company well moving into the future. Vermilion's Board of Directors (the "Board") would like to thank Mr. Marino for his contributions to the Company.
The Board is pleased to announce that Lorenzo Donadeo has been appointed Executive Chairman. Mr. Donadeo has 39 years of experience in the oil and gas industry. He was a co-founder of Vermilion in 1994 and has served as Chairman of the Board since March 1, 2016. From 2014 to 2016, Mr. Donadeo served as the Chief Executive Officer. From 2003 to 2014, he served as President and Chief Executive Officer and from 1996 to 2003 he served as Vermilion's Executive Vice President and Chief Operating Officer. Mr. Donadeo has a Bachelor of Science degree in Mechanical Engineering (with distinction) from the University of Alberta.
The Board is also pleased to announce that Curtis Hicks is rejoining the Company and has been appointed President. Mr. Hicks has 40 years of experience in the oil and gas industry. Most recently, he was Executive Vice-President and Chief Financial Officer of Vermilion from 2003 to 2018. During his time at Vermilion, the Company was recognized as one of the premier Canadian oil and gas companies with a strong financial structure backstopping disciplined capital allocation. He was a key contributor to Vermilion's success and culture during his tenure. Mr. Hicks is a Chartered Professional Accountant and has a Bachelor of Commerce degree (with distinction) from the University of Saskatchewan.
In lieu of filling the role of Chief Executive Officer, Vermilion has created an Executive Committee consisting of a minimum of five senior executives from within the Company. It will include the Executive Chairman, President, Chief Financial Officer, Chief Operating Officer, Executive Vice-President People and Culture and Vice-President of Business Development. The Executive Committee structure was successfully utilized by Vermilion in the past and has been formally re-established. It will be used by the organization to review and approve key organizational, financial, operational and strategic decisions for the Company. This leadership structure has proven to be a highly collaborative decision-making model that draws upon the collective knowledge, experience, business acumen and skills of the senior management team.
Larry MacDonald will continue as lead director.
Mr. Donadeo and Mr. Hicks know the Company well. They know the assets, the people and the corporate culture and have a positive track record of long-term value creation at Vermilion.
Stated Lorenzo Donadeo, "In these challenging times, Vermilion will redouble its focus on its core business principles that have served it well over its successful 26-year history. These principles are based on a conservative, long-term focus on balance sheet strength and capital discipline to generate strong returns. This has resulted in Vermilion providing shareholders with over $3.8 billion, or $40.20 per share, of dividends over the last 17 years. This approach has also helped build an organization underpinned by a high quality, high netback diversified asset base with strong free cash flow generation. Through Vermilion's history we have experienced, and more importantly learned from, several previous severe downturns. To that end, while our long-term strategic plan is unchanged, we have acted quickly to ensure the Company can emerge from the current downturn in a strong financial position. This, together with our talented and dedicated organizational team gives me confidence that we can successfully navigate the Company through this very difficult time and position Vermilion for continued long-term value creation."
About Vermilion
Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America, Europe and Australia. Our business model emphasizes organic production growth augmented with value-adding acquisitions, along with returning capital to investors when economically warranted. Vermilion is targeting growth in production primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States, the exploration and development of high impact natural gas opportunities in the Netherlands and Germany, and through oil drilling and workover programs in France and Australia. Vermilion holds a 20% working interest in the Corrib gas field in Ireland.
Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important to us than the safety of the public and those who work with us, and the protection of our natural surroundings. We have been recognized as a top decile performer amongst Canadian publicly listed companies in governance practices, as a Climate Leadership level (A-) performer by the CDP, and a Best Workplace in the Great Place to Work® Institute's annual rankings in Canada, the Netherlands and Germany. In addition, Vermilion emphasizes strategic community investment in each of our operating areas.
Employees and directors hold approximately 5% of our fully diluted shares and are committed to delivering long-term value for all stakeholders. Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.
View original content to download multimedia:http://www.prnewswire.com/news-releases/vermilion-energy-inc-announces-ceo-departure-and-the-appointments-of-executive-chairman-and-president-301064679.html
SOURCE Vermilion Energy Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2020/25/c6919.html
%CIK: 0001293135
For further information: Lorenzo Donadeo, Executive Chairman; Curtis Hicks, President; Lars Glemser, Vice President & CFO; and/or Kyle Preston, Vice President Investor Relations; TEL (403) 269-4884 | IR TOLL FREE 1-866-895-8101 | [email protected] | www.vermilionenergy.com
CO: Vermilion Energy Inc.
CNW 02:00e 25-MAY-20