A Calgary based energy company is selling the remainder of its U.S. assets in a $120 million transaction. Read More
’Vermilion would like to sincerely thank our talented and dedicated field teams in Wyoming for their commitment to safe and efficient operations over the past 11 years’
‘Vermilion would like to sincerely thank our talented and dedicated field teams in Wyoming for their commitment to safe and efficient operations over the past 11 years’
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A Calgary based energy company is selling the remainder of its U.S. assets in a $120 million transaction.
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Vermilion Energy Inc. announced the deal in a Thursday media release. The transaction is anticipated to close in the third quarter of this year, but has an effective date of Jan. 1.
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Net proceeds from the sale will go towards debt repayment, the company said.
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“Vermilion would like to sincerely thank our talented and dedicated field teams in Wyoming for their commitment to safe and efficient operations over the past 11 years,” said Vermillion in the release.
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The company also thanked technical teams in Denver and Calgary, which provided support for operations.
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With a separate sale in 2023, this year’s move completes Vermilion’s exit from the U.S.
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Assets in the sale include around 5,500 barrels of oil equivalent per day of production and approximately 10 million barrels of oil equivalent of proved developed producing reserves.
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For 2025, Vermillion expects production to range between 117,000 to 122,000 barrels of oil equivalent per day.
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