Vermilion Energy Inc. has signed an agreement to sell its assets in the U.S. for $120 million in cash. The deal, which includes approximately 5,500 barrels of oil equivalent per day of production, is expected to close in the third quarter of 2025, with the net proceeds primarily used to repay debt. The company also announced a reduction of about $100 million from its 2025 capital budget.
Vermilion Energy selling U.S. assets for $120 million in cash
United StatesVermilion
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TL;DR: Key points with love ❤️Vermilion Energy Inc. has signed an agreement to sell its assets in the U.S. for $120 million in cash. The deal, which includes approximately 5,500 barrels of oil equivalent per day of production, is expected to close in the third quarter of 2025, with the net proceeds primarily used to repay debt. The company also announced a reduction of about $100 million from its 2025 capital budget.
- 1 Jan. 1: Effective date of the asset sale deal.
- 2 Recently: Vermilion Energy Inc. signed an agreement to sell its U.S. assets.
- 3 Third quarter (2025): Expected closing of the deal.
- Vermilion Energy will receive $120 million in cash from the sale.
- The net proceeds will be used to repay company debt.
- Vermilion Energy's 2025 capital budget will be reduced by approximately $100 million.
- The company's full-year and second-half 2025 production forecast will be adjusted.
What: Vermilion Energy Inc. has signed an agreement to sell its assets located in the U.S. for $120 million in cash. The sale includes approximately 5,500 barrels of oil equivalent per day of production and about 10 million barrels of oil equivalent of proved developed producing reserves.
When: Jan. 1 (effective date of the deal), third quarter (expected closing of the deal), 2025 (updated capital budget and production forecast).
Where: United States (location of assets being sold).
Why: The primary reason for the sale is to use the net proceeds to repay debt. The company also aims to reduce its capital budget for 2025.
How: Vermilion Energy Inc. entered into a formal agreement for the sale of its U.S. assets. The transaction is structured as a cash deal.