Vermilion Energy Inc. Announces Closing of the Saskatchewan Asset Sale

Rhea-AI Summary

Vermilion Energy (NYSE:VET) has successfully completed the sale of its Saskatchewan assets for $415 million. The divested assets include approximately 10,500 boe/d of non-core light oil production, with 86% consisting of oil and liquids, located in Saskatchewan and Manitoba.

This strategic divestment aligns with Vermilion's three-year portfolio optimization initiative, focusing on long-duration, scalable assets with high return potential. The net proceeds will be used to strengthen the company's balance sheet and provide additional capital flexibility for its core operations in Canada and Europe.

Positive

• Asset sale generates substantial proceeds of $415 million
• Strategic portfolio optimization to focus on higher-value, scalable assets
• Strengthening of balance sheet through sale proceeds
• Increased capital allocation flexibility for core operations

Negative

• Reduction in production capacity by 10,500 boe/d
• Loss of 86% oil and liquids-weighted assets from portfolio

News Market Reaction – VET

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CALGARY, AB, July 10, 2025 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion") (TSX: VET) (NYSE: VET) is pleased to confirm the closing of the previously announced sale of Saskatchewan assets for gross proceeds of $415 million.

The assets are comprised of approximately 10,500 boe/d (86% oil and liquids) of non-core light oil production in Saskatchewan and Manitoba. This transaction marks another significant step in Vermilion's strategic plan to high-grade the asset portfolio that began three years ago, shifting our focus toward long-duration, scalable assets with deep inventory of high return on capital opportunities. Net cash proceeds from the sale will strengthen Vermilion's balance sheet and provide further capital allocation flexibility for core Canadian and European assets.

About Vermilion

Vermilion is a global gas producer that seeks to create value through the acquisition, exploration and development of liquids-rich natural gas in Canada and conventional natural gas in Europe while optimizing low-decline oil assets. This diversified portfolio delivers outsized free cash flow through direct exposure to global commodity prices and enhanced capital allocation optionality.

Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important than the safety of the public and those who work with Vermilion, and the protection of the natural surroundings. In addition, the Company emphasizes strategic community investment in each of its operating areas.

Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

For further information please contact:
Dion Hatcher, President & CEO; Lars Glemser, Vice President & CFO; and/or Kyle Preston, Vice President, Investor Relations
TEL (403) 269-4884 | IR TOLL FREE 1-866-895-8101 | investor_relations@vermilionenergy.com | www.vermilionenergy.com

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SOURCE Vermilion Energy Inc.

FAQ

How much did Vermilion Energy (VET) sell its Saskatchewan assets for?

Vermilion Energy sold its Saskatchewan assets for $415 million in gross proceeds.

What assets did Vermilion Energy sell in Saskatchewan?

Vermilion sold assets producing approximately 10,500 boe/d of non-core light oil production, with 86% oil and liquids, located in Saskatchewan and Manitoba.

How will Vermilion Energy use the proceeds from the Saskatchewan asset sale?

The net proceeds will be used to strengthen Vermilion's balance sheet and provide additional capital allocation flexibility for core Canadian and European assets.

What is Vermilion Energy's strategic plan for its asset portfolio?

Vermilion is executing a three-year strategic plan to high-grade its asset portfolio, focusing on long-duration, scalable assets with deep inventory of high return on capital opportunities.

When did Vermilion Energy complete the Saskatchewan asset sale?

Vermilion Energy completed the Saskatchewan asset sale on July 10, 2025.