Vermilion Energy Inc. sold 26 million common shares of Coelacanth Energy Inc. at $0.76 per share, generating $19.76 million in cash. The sale cut Vermilion’s ownership stake from 15.0 % to 10.2 %, a reduction that exceeded the 2 % threshold of outstanding shares and prompted the filing of an Early Warning Report with the Canadian Securities Regulator.
The divestiture is part of a systematic debt‑reduction program that has already included the sale of 30 million Coelacanth shares on December 8, 2025. Together, these sales have helped bring Vermilion’s net debt below CAD 1.4 billion, a level that the company has targeted to strengthen its balance sheet and reduce interest expense.
By shedding a portion of its Coelacanth holdings, Vermilion frees capital that can be deployed toward its core global gas portfolio. The company has emphasized that the proceeds will support exploration and production activities in Canada and Europe, where it seeks to capture higher‑margin opportunities and improve operational leverage.
The transaction underscores Vermilion’s commitment to deleveraging and strategic focus. With a lower debt burden, the company is positioned to pursue growth initiatives, invest in high‑return projects, and enhance financial flexibility for future capital allocation decisions.
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