- Vermilion Energy (VET +0.2%) is looking for acquisitions as it is set to be flush with cash from a gas project in Ireland, Bloomberg reports.
- President and COO Anthony Marino expects assets in Alberta and Saskatchewan to be the most probable targets of deals, while still considering possible purchases from Australia to Europe; VET also may boost its dividend, expand investment in existing properties and reduce debt.
- VET expects its 19% stake in Royal Dutch Shell’s (RDS.A, RDS.B) Corrib gas project offshore Ireland will boost annualized free cash flow by C$3/share when it starts in mid-2015; its projected C$8.67/share cash flow in the next 12 months would be the largest after Canadian Natural Resources among Canadian producers worth more than C$2B.