$VET

Sector Update: Energy Stocks Fall Wednesday

Energy stocks fell Wednesday with the NYSE Energy Sector Index slumping 3.9% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 4.1%.The Philadelphia Oil Service Sector Index shed 2%, and the Dow Jones US Utilities Index dropped 1.5%.Crude prices fell Wednesday amid prospects of a diplomatic breakthrough between the US and Iran.West Texas Intermediate crude oil tumbled 7.1% to $95.03 a barrel, and global benchmark Brent slumped 7.9% to $101.15 a barrel. Henry Hub natural gas futures fell 2.5% to $2.72 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell 7.5 million barrels in the week ended Friday following a decrease of 13.4 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks dropped 2.3 million barrels after a decline of 6.2 million in the previous week, compared with the decrease of 3.4 million expected in a survey compiled by Bloomberg.In corporate news, Spire (SR) shares fell 4% after the company's fiscal Q2 operating revenue came in below analysts' expectations.Vermilion Energy (VET) reported a Q1 loss following a year-earlier profit. The shares dropped 13%.Equinor (EQNR) shares tumbled 8% after the firm reported Q1 revenue that fell more than Wall Street expected.

Update: Vermilion Energy Shares Fall After Q1 Swings to Loss

(Updates with the latest stock movement in the headline and the first paragraph.)Vermilion Energy (VET) shares were down more than 13% in Wednesday trading after the company reported a Q1 loss, missing analyst expectations and swinging from a profit a year earlier.The company reported a Q1 loss of 0.95 Canadian dollar ($0.70) per diluted share, swinging from earnings of CA$0.10 a year earlier.A single analyst polled by FactSet expected earnings of CA$0.27.Sales for the quarter ended March 31 were CA$513.3 million, up from CA$468.7 million a year earlier.A single analyst surveyed by FactSet expected CA$512.8 million.Price: $11.81, Change: $-1.82, Percent Change: -13.35%

Sector Update: Energy Stocks Fall Wednesday Afternoon

Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index falling 3.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 4.2%.The Philadelphia Oil Service Sector Index was shedding 1.6%, and the Dow Jones US Utilities Index was down 1.2%.The White House is of the view that an agreement with Tehran -- a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations -- is close, Axios reported, citing two US officials and two other sources briefed on the issue. Washington's MoU, if Iran accepts it, will lead to a gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.Front-month West Texas Intermediate crude oil sank 7% to $95.14 a barrel, and the global benchmark Brent crude contract slumped 7.4% to $101.72 a barrel. Henry Hub natural gas futures fell 2.5% to $2.72 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.5 million barrels in the week ended May 1 following a decrease of 13.4 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks decreased by 2.3 million barrels after a 6.2-million-barrel drop in the previous week, compared with the 3.4-million-barrel decrease expected in a survey compiled by Bloomberg.In sector news, Triton Uranium is considering a US listing through a merger with a special purpose acquisition company in 2026, its president Scott Evans told Reuters, as the company seeks to tap rising demand for nuclear fuel and bolster domestic supply. The Canada-based company has begun development work at its Atlas Project in Uranium City, Saskatchewan, where it controls about 46,742 acres of mineral claims, the report said.In corporate news, Equinor (EQNR) shares fell past 8% after the firm reported Q1 revenue that decreased year on year and missed analysts' estimates.Vermilion Energy (VET) reported a Q1 loss Wednesday of 0.95 Canadian dollar ($0.70) per diluted share, swinging from earnings of CA$0.10 a year earlier. Its shares dropped over 12%.Nano Nuclear Energy (NNE) said Wednesday it has signed a memorandum of understanding with Super Micro Computer (SMCI) to explore the integration of Nano's energy systems with Supermicro's AI server and data center platforms. Nano shares surged 22%.Terrestrial Energy (IMSR) and Riot Platforms (RIOT) said Wednesday they are collaborating to develop a pairing of planned data centers with co-located nuclear plants. Terrestrial shares jumped past 16%.

Vermilion Reports Higher Q1 Production, Sales Volumes; Maintains 2026 Outlook

Vermilion Energy (VET) reported Q1 earnings on Wednesday, showing total production of 125,618 barrels of oil equivalent per day, up from 103,115 boe/d a year earlier, according to the company.Natural gas production increased to 539.29 million cubic feet per day for the quarter ended Mar. 31 from 369.36 mmcf/d a year earlier, while natural gas liquids output rose to 12,044 b/d from 9,167 b/d, Vermilion said.Crude oil and condensate production declined to 23,692 b/d from 32,386 b/d a year earlier, according to the company.Vermilion generated an average production of 99,746 boe/d from Canadian operations in Q1, up 10% from the prior quarter, while international production totaled 25,872 boe/d, the company added.Vermilion reported consolidated sales volumes of 126,867 boe/d in Q1, up from 102,427 boe/d a year earlier, the company said.Crude oil and condensate sales volumes declined to 24,941 b/d in the quarter, compared with 31,698 b/d a year earlier, while natural gas liquids sales volumes increased to 12,044 b/d from 9,167 b/d, Vermilion said.Natural gas sales volumes increased to 539.29 million cubic feet per day from 369.36 mmcf/d a year earlier, the company added.Vermilion expects Q2 production to average 123,000 boe/d to 125,000 boe/d and maintains its full-year production outlook of 118,000 boe/d to 122,000 boe/d on exploration and development spending of CA$600 million ($440.2 million) to CA$630 million, according to the company.Price: $11.82, Change: $-1.81, Percent Change: -13.28%

Vermilion Energy Swings to Q1 Loss, Sales Increase

Vermilion Energy (VET) reported a Q1 loss Wednesday of 0.95 Canadian dollar ($0.70) per diluted share, swinging from earnings of CA$0.10 a year earlier.A single analyst polled by FactSet expected earnings of CA$0.27.Sales for the quarter ended March 31 were CA$513.3 million, up from CA$468.7 million a year earlier.A single analyst surveyed by FactSet expected CA$512.8 million.Shares of the company were down 6% in premarket activity.

Earnings Flash (VET) Vermilion Energy Posts Q1 Loss CA$0.95 a Share, vs. FactSet Est of $0.29 EPS

Earnings Flash (VET) Vermilion Energy Net Loss of $146M or $0.95 Per Basic Share