Anthony Marino, President and Chief Executive Officer of Vermilion Energy Inc., is an accomplished senior executive with a proven track record of high shareholder returns during his 36-year career in the energy industry. Mr. Marino joined Vermilion in 2012 as Chief Operating Officer, was named President in 2014 and Chief Executive Officer in 2016. He joined Vermilion’s board of directors in 2016. Prior to joining Vermilion, Mr. Marino held the position of President and Chief Executive Officer of Baytex Energy Corporation, after initially serving as Baytex’s Chief Operating Officer. Previously, Mr. Marino held the role of President & Chief Executive Officer of Dominion Exploration Canada Ltd., a division of Dominion Resources Inc.
In this exclusive 3,290 word interview in the Wall Street Transcript, Mr. Marino details the investment opportunities for his company:
“…We have always had a tremendous focus on capital efficiency. That is very important in a capital-intensive business like oil and gas. It allows us to pay a dividend and to grow the company with internally generated cash flow. So we end up with what I think is a very attractive equity security for investors: a monthly dividend, which has been increased four times over the history of the company and has never been reduced.”
The company has an unusual production footprint:
“…In 1997 we began what has been a very long and successful international diversification by becoming an oil producer in France, and we now dominate the domestic oil production industry there. We continued to grow and expand the company internationally by entering the Netherlands in 2004. We are now the second-largest gas-producing company in onshore Netherlands. We entered Australia in 2005 and Ireland in 2009. We now operate the gas field in Ireland that makes up almost all of Ireland’s domestic gas production. We listed on the NYSE in 2013, so now we’re interlisted, on the TSX and NYSE.
In 2014, we acquired production in Germany and in the United States in Wyoming. And over the last few years, from 2014 to 2017, we set up a business in central and Eastern Europe. We’re now the largest oil and gas landholder in Croatia, we produce in Hungary, and we’re the number-two landholder in Slovakia.”
This leads to pricing power that is rarely seen in the Oil & Gas sector:
“…Our European gas is extraordinarily high priced compared to North America. Today, the price for natural gas in Europe is about 2.5 times what it is in the United States, and it’s a very, very significant multiple of the gas price in Canada. So this is a real differentiating factor.”
To find out more about Anthony Marino and his unique oil & gas production strategy, read the entire 3,290 word interview in the Wall Street Transcript.
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