Vermilion Energy's first Wisselshorst gas well in Germany is due on stream by mid-2026, with two more wells planned for early 2027

Vermilion Energy (TSX: VET) said it expects to bring on new production from the first Wisselshorst well in Germany by mid-year 2026. It plans to spud the next two wells on the Bommelsen license in early 2027.

The company's latest statement on the project dates from its April 2026 operations update. Its most recent filing, on 2026-07-30, repeats the early-2027 timing for the Bommelsen wells. The company has not said in the material reviewed whether the first Wisselshorst well has started producing.

Why it matters

Wisselshorst is carried with a gas reserve of 67 billion cubic feet (bcf) on a P50 basis, meaning a 50% probability that at least that volume is recoverable. The figure was stated on 2026-07-30. Vermilion holds a 64% interest, so its share would be roughly 43 bcf if the estimate holds. That is an inference from the two numbers, not a company figure.

For comparison, Vermilion's Osterheide field in Germany carries a P50 gas reserve of 16.4 bcf, stated in May 2025, and the company owns 100% of it. The company said Osterheide delivered robust production in the first quarter of 2026. If Wisselshorst performs similarly, it would add a larger reserve base in the same country.

The wider picture

Vermilion describes itself as a gas producer focused on Canada and Europe. First-quarter 2026 production averaged about 125,000 barrels of oil equivalent per day (boe/d), above its guidance of 122,000 to 124,000 boe/d. European gas sold at an average of about $16 per million British thermal units (MMBtu) in the quarter, which the company linked to higher day-ahead prices in March.

It is also adding to its German position:

• Agreements to buy producing German assets from BEB and MEEG, currently about 1,000 boe/d and 85% gas, expected to close in the second half of 2026.
• Three new North German Basin concessions, which it says double its German acreage to well over 1 million net acres.
• A planned sale of its 60% stake in the non-producing SA-07 block in Croatia for about €15 million ($24 million).

What is uncertain

The Wisselshorst start date is a target, and the company has given only "mid-year" rather than a specific date. The Bommelsen timing is described as "early 2027," and the company has not given a firm spud date. The BEB/MEEG and SA-07 deals are also still to close.

Vermilion has also been reducing debt. In December 2025 it sold Coelacanth shares for about $42.6 million combined, cutting its stake to about 10.2%. It has paid a quarterly dividend of $0.135 per share since March 2026.

Source: Vermilion Energy news release dated April 7, 2026, and company filings.