Nov 7 (Reuters) - Oil and gas company Vermilion Energy Inc’s quarterly profit more than doubled helped by higher oil and natural gas production from its Australian properties.
The company, however, expects full-year production volumes to be at the lower end of its prior outlook of 35,000-36,000 boe/d, partly due to weather-related delays in Canada during the quarter.
Vermilion reported July-September earnings of C$64.4 million, or 71 Canadian cents a share, compared with a C$24.6 million or 29 Canadian cents per share, a year ago.
Petroleum and natural gas sales for the quarter rose 44 percent to C$248.4 million.
Production averaged 34,676 barrels of oil equivalent (boe/d), up from 31,298 boe/d last year.
Australia production rose 28 percent to an average 7,992 boe/d in the quarter.
The company’s shares closed at C$49.20 on Friday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Viraj Nair)