On June 5, 2025, Vermilion Energy Inc. announced it has entered into a definitive agreement to sell its United States assets for cash proceeds of $120 million. The transaction covers approximately 5,500 boe/d of production (81% oil and liquids) and around 10 million boe of Proved Developed Producing reserves, as evaluated by McDaniel & Associates Consultants Ltd. as of December 31, 2024. The effective date of the sale is January 1, 2025, with closing expected in Q3 2025, subject to customary conditions. The agreement also includes up to $14 million in contingent payments tied to WTI oil prices from July 2025 through June 2027.

Net proceeds will be used to repay debt, supporting Vermilion’s plan to reduce net debt to $1.3 billion and achieve a trailing net debt-to-FFO ratio of 1.3 times by year-end 2025. The divestiture, combined with the prior sale of East Finn assets in 2023, completes Vermilion’s exit from the U.S. and sharpens its strategic focus on gas-weighted assets in Canada and Europe.

Following the transaction, Vermilion updated its 2025 guidance, reducing capital expenditures to $630–660 million and projecting annual production of 117,000–122,000 boe/d, with over 90% expected from its global gas portfolio. Wells Fargo acted as exclusive financial advisor, Citi as strategic advisor, and legal counsel was provided by Torys LLP and Davis Graham & Stubbs LLP.