Vermilion Energy Inc. announced a definitive agreement for the sale of its United States assets for cash proceeds of $120 million. The net proceeds from this transaction will be allocated to debt repayment, further accelerating deleveraging efforts and strengthening the company's balance sheet.
The divested U.S. assets contribute approximately 5,500 boe/d of production, with 81% being oil and liquids, and held approximately 10 mmboe of Proved Developed Producing reserves as of December 31, 2024. The transaction has an effective date of January 1, 2025, and is anticipated to close in Q3 2025, including $10 million in contingent payments based on future WTI prices.
This sale, combined with a previous divestment, completes Vermilion's exit from the United States, allowing the company to focus on its core gas-weighted assets in Canada and Europe. Vermilion updated its 2025 capital budget to a range of $630 to $660 million and expects full-year production to range between 117,000 to 122,000 boe/d, with over 90% of production and 80% of capital allocated to its global gas portfolio.
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