Vermilion Energy selling U.S. assets for $120 million in cash

Vermilion Energy Inc. has signed an agreement to sell its assets in the U.S. for $120 million in cash.

The company says the deal includes about 5,500 barrels of oil equivalent per day of production and about 10 million barrels of oil equivalent of proved developed producing reserves.

Vermilion says net proceeds from the sale will be used to repay debt.

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

The company also updated its 2025 capital budget to a range of $630 million to $660 million, a reduction of about $100 million from the midpoint of its previous guidance for $730 million to $760 million.

Vermilion expects full year and second half 2025 production to range between 117,000 to 122,000 barrels of oil equivalent per day.