13:33 ET--Vermilion Energy's acquisition of Westbrick Energy is accretive but puts a significant strain on the company's debt levels. National Bank of Canada's Travis Wood notes that net debt expands toward C$2 billion, leaving only marginal operating opportunities to reduce levels below C$1 billion again. He adds that absolute debt and debt cap are key performance metrics, and that he expects the company to prioritize debt repayment going forward. "Hope is not a strategy, so we are reluctant to use higher prices as a primary driver for debt reduction and will look for Vermilion to actively divest of noncore assets next year," he adds. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
December 24, 2024 13:34 ET (18:34 GMT)
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