From Yahoo Finance: 2025-05-26 06:28:00

Canadian energy producer Vermilion Energy is selling its assets in Saskatchewan and Manitoba for $415m to boost financial stability. The deal is expected to generate $110m in annual net operating income and includes 30 million barrels of oil equivalent in reserves. The transaction is set to close in the third quarter of 2025 pending regulatory approvals. Vermilion plans to focus on prudent capital investment and prioritize free cash flow over production growth. The sale proceeds will strengthen the company’s balance sheet and provide capital flexibility for its core assets in Canada and Europe. National Bank Financial, Scotiabank, and Torys are advising on the sale. In February, Vermilion expanded its Alberta Deep Basin asset base with the acquisition of Westbrick Energy for C$1.075bn.

Read more: Vermilion Energy to bolster financial position with $415m asset sale