Sell Vermilian Energy US Assets in cash for $ 120 million

godfear.in June 5, 2025 5:21 pm 0

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Vermilian Energy

Calgary

Vermilian Energy Inc. has signed an agreement to sell its assets in the US.

Pure income from sales will be used to repay the loan

Canadian press , Post: June 05, 2025 8:16 AM EDT | Final Update: 5 hours ago

Vermilian Energy A production manager for the Canadian-based vermilion oil company, an oil rig, sees on Wednesday, September 6, 2017 in Andrezel in the south-east of Paris. — Vermilian hopes that the production of the whole year and the second half 2025 is between 117,000 to 122,000 barrel oil per day. (Thibault Camus/Associated Press)

Vermilian Energy Inc. has signed an agreement to sell its assets in the US.

The company says that the deal includes about 5,500 barrels of oil and about 10 million barrel oil per day per day, which are equivalent to a proven developed productive reserves.

Vermilian says that net income from sales will be used to repay the loan.

The deal has an effective date of January 1 and is expected to close in the third quarter.

The company updated its 2025 capital budget from $ 630 million to $ 660 million, about $ 100 million reduction from the middle point between its previous guidance $ 730 million to $ 760 million.

Vermilian hopes that the production of the whole year and the second half 2025 is between 117,000 to 122,000 barrel oil per day.

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Sell Vermilian Energy US Assets in cash for $ 120 million

Vermilian Energy

Pure income from sales will be used to repay the loan

AUTHOR godfear.in

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Sell ​​Vermilian Energy US Assets in cash for $ 120 million

Vermilian Energy

Pure income from sales will be used to repay the loan

AUTHORgodfear.in

COMMENTS