Current VET:CA Stock Info

Vermilion Energy Inc. (ticker: VET) closed the acquisition of Spartan Energy Corp. for a total consideration of $1.40 billion, comprised of $1.23 billion in Vermilion shares plus the assumption of approximately $175 million in debt.

Vermilion acquired all of the issued and outstanding common shares of Spartan on the basis of 0.1476 of a Vermilion share for each Spartan common share, resulting in the issuance of 27.9 million Vermilion common shares.

The Spartan assets are comprised of light oil producing properties covering approximately 480,000 net acres of land (80% average working interest), including 400,000 net acres in southeast Saskatchewan with multi-zone potential. The other 80,000 net acres of land are in other areas of Saskatchewan, Alberta and Manitoba. Production from the assets is projected to be approximately 23,000 BOEPD (91% oil) during 2018.

Core areas

Vermilion is an international energy producer focused in three core regions: North America, Europe and Australia.

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion North America, May 2018

In Canada, Vermilion is a player in the productive Mannville condensate-rich gas play. The company also holds a position in the West Pembina Cardium resource play. In the United States, Vermilion has a land position in the Turner Sand play in the Powder River Basin.

Vermilion’s European assets consist of onshore and offshore operations that deliver premium commodity pricing through Brent-priced light oil production and European natural gas prices.

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion European Core, May 2018

Vermilion also holds a 100% working interest in the Wandoo field, offshore Australia. Australian production contributes approximately 10% of total corporate production.

Vermilion Energy will present at the EnerCom conference in Denver

Vermilion Energy will be presenting at the 23rd annual edition of The Oil & Gas Conference®. The conference will take place August 19-23, 2018, at the Westin Denver Downtown. Investment and oil and gas professionals may register for the conference on the website.

Legal Notice