Vermilion Energy Inc. VET-T has signed a deal to sell a group of assets in Saskatchewan and Manitoba for $415-million.
The company says it will use the net proceeds from the sale to repay debt.
Vermilion says the assets being sold produce about 10,500 barrels of oil equivalent per day.
The deal has an effective date of May 1, 2025.
It is anticipated to close in the third quarter, subject to regulatory approvals and other closing conditions.
Assuming the deal closes mid-third quarter, Vermilion says it expects full year production for 2025 to average between 120,000 and 125,000 boepd with capital expenditures in the range of $680-million to $710-million.