By Adriano Marchese
Vermilion Energy has agreed to sell its U.S. assets for 120 million Canadian dollars ($87.7 million), fully exiting its presence in the country.
The Calgary, Alberta, energy company didn't disclose the buyer. It said it will use the proceeds to repay some of its loans, and that it expects to end the year with about C$1.3 million of debt.
Vermilion on Thursday said that, following the divestiture, it expects a capital budget of C$630 million to C$660 million, a C$100 million reduction from the midpoint of its previous budget range.
Production for the full year and second half is expected in the range of 117,000 to 122,000 barrels of oil equivalent a day.
Looking ahead, Vermilion expects 90% of output will come from its global gas portfolio, and over 80% of capital is expected be allocated to these assets.
Vermilion said this transaction, combined a previous asset sale in 2023, completes the company's exit from the U.S. market as part of its move to focus more on its core gas-weighted assets in Canada and Europe.
More recently, in late May, Vermilion agreed to sell its oil-producing assets in Saskatchewan and Manitoba for C$415 million.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 05, 2025 07:05 ET (11:05 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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