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Vermilion Energy Inc (VET)

- NYSE
  • Mar. 18, 2014, 2:06 PM
    • Vermillion Energy (VET +3.2%) agrees to acquire light oil producing assets in Saskatchewan from a private producer for $345M in cash and stock plus the assumption of $55M in debt.
    • The assets include 57K net acres of land (~80% undeveloped), seven oil batteries and preferential access to 50% or greater capacity at a solution gas facility that is under construction; 2014 production from the assets is projected at ~3,750 boe/day, with more than 90% of the production base to be operated by VET.
    • Due to the acquisition, VET raises its 2014 production guidance to 47.5K-48.5K boe/day, assuming eight months of contribution from the new assets.
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  • Nov. 6, 2013, 10:44 AM
    • Vermilion Energy (VET +0.5%) is set to enter Germany’s gas market through a $170M acquisition of GDF Suez’s (GDFZY, GDSZF) 25% interest in four producing natural gas assets.
    • Exxon Mobil (XOM) is operator of the assets held by a four-partner consortium.
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Company Description
Vermilion Energy Inc is an international oil and gas producer engaged in the acquisition, development and optimization of producing properties in Western Canada, Europe, and Australia.