Canada’s Vermilion Energy Exits U.S. ...Middle East

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Canada’s Vermilion Energy Exits U.S.
source : OILPRICE ( Middle East ) () 49
Calgary-based Vermilion Energy Inc. will sell its assets in the United States for $88 million (C$120 million), which will complete its exit from the U.S. and allow it to reduce debt and focus on natural gas assets in Canada and Europe. The assets in the sale consist of about 5,500 barrels of oil equivalent per day boe/d of production, of which 81% is oil and liquids, as well as 10 million barrels of oil equivalent of proved developed producing reserves, Vermilion Energy said on Thursday. Vermilion Energy expects to close the transaction in the…

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