Latest news with #assetSale
Globe and Mail
5 days 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
5 days 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.
CTV News
5 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
RNZ News
28-05-2025
- Business
- RNZ News
Infratil eyes sale of $1b in assets as it targets stronger growth
Infratil chief executive Jason Boyes Photo: Supplied Infratil is looking to sell about a billion dollars of assets over the next two to three years as part of a strategy to create more shareholder value. "We're much bigger now than we used to be and so we've taken a look at our strategy," Infratil chief executive Jason Boyes said, following the release of its full year result . He said all business units needed to fit with the growth strategy, which included CDC Data Centres, One NZ, Wellington Airport, RetireAustralia and healthcare assets. "Every business really has to contribute, and if they can't scale in our ownership . . . then we're better to find a better owner for them and move on, and move that capital into things that can meaningfully contribute in the long term." He said no decisions had been made about what was up for sale, though the retirement business was one asset it had considered selling in the past. "So that would definitely be one that we would not see being in the portfolio over the long term." He said Wellington Airport still had growth potential. "I think there are actually ways to scale our exposure to airports, which are interesting, but it has to, over time meet the same requirements as every other business which is it needs to be big enough to contribute meaningfully, as we hopefully continue to grow." Healthcare services were also showing growth potential, with advances in technology. "A niche sub-sector of radiology is growing really fast globally and could be a way for those businesses to scale in the portfolio and remain interesting and relevant for shareholders." Boyes said the proceeds of any sale would likely support growth in renewable energy. "Our investment in renewable energy in Southeast Asia and Singapore - that is a business that could take a good chunk of that billion dollars . . . particularly with a big project they're working on there with the help of the Singapore government. "So that's one place (further investment) could go, but we always look around for the next theme that we want to be exposed to as early as we can." One of the theme areas Infratil was looking at was advanced logistics, such as robots and warehouses dispensing pharmaceuticals or other items. "A very interesting infrastructure-like asset that doesn't currently exist today. I wouldn't be surprised to see that turn up at some point, or an idea like that," Boyes said. "I think that's the best way to think about the portfolio is how it's going to develop over time. "The individual assets change, themes come and go, but actually for something that's been going for 31 years, the recurring theme is how you manage that over a long period of time."
Yahoo
24-05-2025
- Business
- Yahoo
Vermilion Energy to sell Saskatchewan, Manitoba assets for $415M
Vermilion Energy (VET) announced that it has entered into a definitive agreement for the sale of its Saskatchewan and Manitoba assets for cash proceeds of $415M. Net proceeds from the transaction will be directed towards debt repayment to accelerate deleveraging efforts and strengthen Vermilion's balance sheet. Based on current strip commodity pricing and operational plans, the company expects to exit 2025 with net debt of $1.5B, with a trailing net debt to FFO ratio of 1.4 times. The assets are currently producing approximately 10,500 boe/d and are forecast to generate approximately $110M of annual net operating income at current strip commodity prices. The assets had proved developed producing reserves of 30 mmboe at December 31, 2024, and approximately $250M of undiscounted future abandonment liabilities. The transaction has an effective date of May 1 and is anticipated to close in Q3, subject to receipt of regulatory approvals and the satisfaction of other customary closing conditions. Assuming a mid-Q3 2025 close, Vermilion expects full year 2025 production to average between 120,000 to 125,000 boe/d with capital expenditures in the range of $680M to $710M, reflecting an approximately $50M reduction associated with the divested assets post-closing. Vermilion will continue to evaluate capital investment levels during this period of increased volatility and will adjust capital if necessary to prioritize free cash flow over production growth during 2025 and 2026. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on VET: Disclaimer & DisclosureReport an Issue Vermilion Energy's Earnings Call: Growth Amid Challenges Vermilion Energy Announces AGM Voting Results and Board Changes Vermilion Energy price target lowered to C$14 from C$16 at RBC Capital Vermilion Energy price target lowered to C$10 from C$14 at BMO Capital Vermilion Energy Reports Strong Q1 2025 Performance Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
