Latest news with #VermilionEnergy
Globe and Mail
a day ago
- Business
- Globe and Mail
Vermilion Energy Inc. Announces Agreement to Sell United States Assets and Provides Updated 2025 Guidance
CALGARY, AB, June 5, 2025 /CNW/ - Vermilion Energy Inc. ("Vermilion" or the "Company") (TSX: VET) (NYSE: VET) is pleased to announce that it has entered into a definitive agreement for the sale of its United States assets (the "Assets") for cash proceeds of $120 million (the "Transaction").
CBC
a day ago
- Business
- CBC
Vermilion Energy selling U.S. assets for $120 million in cash
Social Sharing 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.
The Market Online
a day ago
- Business
- The Market Online
A tentative start to North American trading
TSX futures inched higher on Thursday, with investors optimistic about Canadian oil output's ultimate recovery from Prairie wildfires and the country's ability to compete in a US tariff war. US markets are also up, finding the positive in Trump's deadline for trade deals of June 4th coming with no new announcements. Market Numbers (Futures) TSX: Up (0.2%) 26, Up (0.31%), Up (0.09%), 42, Up (0.05%), 21,759.25. FTSE: Up (0.03%), 8,815.26. Global gas producer Vermilion Energy (TSX:VET) sold its remaining United States assets for C$120 million, representing 5,500 boe/d of production and about 10 mmboe of proved, developed and producing reserves. The company will use the proceeds to pay off debt and will now focus its efforts on core Canadian and European operations. Another company restructuring to adapt to the uncertain macroeconomic climate, Procter & Gamble (NYSE:PG), plans to cut 7,000 jobs or 6 per cent of its workforce over the next two years – in addition to divesting from certain brands – in response to Trump tariff uncertainty and changing consumer demand. The US is Procter & Gamble's largest market, with its supply chain heavily reliant on imports from China. The Canadian dollar rose to US$0.7320, up from US$0.7296 on Wednesday, gave up ground to the Euro, falling from €0.6412 to €0.6406, and started the day at 0.5394 GBP and 104.8800 JPY. At the time of writing, Bitcoin was down by 0.02 per cent for the day trading at C$143,272.43. Commodities (Futures) Natural Gas: Down (0.05%), US$ Up (0.23%), US$ Up (0.53%), US$3,394.57. Copper: Up (0.07%), US$4.97. To stay up-to-date from market open to close head to Join the discussion: Find out what everybody's saying about the global market open on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
CTV News
2 days ago
- Business
- CTV News
Vermilion Energy selling U.S. assets for $120 million in cash
The corporate logo of Vermilion Energy Inc. (TSX:VET) is shown. THE CANADIAN PRESS/HO CALGARY — 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. This report by The Canadian Press was first published June 5, 2025. Companies in this story: (TSX:VET) The Canadian Press
CTV News
2 days ago
- Business
- CTV News
Vermilion Energy exits U.S. with nearly US$88 million asset sale
A storage tank is pictured on the site of Canadian group Vermilion Energy in Parentis-en-Born, France, October 13, 2017. Canada's Vermilion Energy said on Thursday it will sell its United States assets for $120 million (US$87.88 million), completing its exit from the U.S. market. The company said it will use the proceeds to repay debt, strengthen balance sheet and added that it expects to exit 2025 with a net debt of $1.3 billion. The transaction, expected to close in the third quarter, will allow Vermilion Energy to focus on core gas-weighted assets in Canada and Europe. The company also raised its current year production forecast to between 117,000 and 122,000 barrels of oil equivalent per day (boepd) from 84,000 to 88,000 boepd earlier. Earlier this year, the company acquired privately held oil and gas firm Westbrick Energy for $1.075 billion, strengthening its position in the Deep Basin of Alberta. (Reporting by Tanay Dhumal in Bengaluru; Editing by Mrigank Dhaniwala)
