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Vermilion Energy Inc. Announces Closing of the Acquisition of Westbrick Energy Ltd. and Confirms Q4 2024 Release Date and Conference Call Details
Vermilion Energy Inc. Announces Closing of the Acquisition of Westbrick Energy Ltd. and Confirms ...
About this update from Vermilion Energy Inc.
[{"type":"text","content":"\n\n\n\n Vermilion Energy Inc. Announces Closing of the Acquisition of Westbrick Energy Ltd. and Confirms Q4 2024 Release Date and Conference Call Details\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Feb. 26, 2025\n \n\n /CNW/ - Vermilion Energy Inc. (\"Vermilion\" or the \"Company\") (TSX: VET) (NYSE: VET) is pleased to announce the closing of the acquisition of Westbrick Energy Ltd. (\"Westbrick\") pursuant to the terms of the previously announced arrangement agreement (the \"Arrangement Agreement\" or the \"Acquisition\") dated\n \n December 22, 2024\n \n .\n \n\n\n\n\n\n\n\n\n The Acquisition adds stable annual production of 50,000 boe/d\n \n (1)\n \n (75% gas and 25% liquids) and approximately 1.1 million (770,000 net) acres of land in the southeast portion of the Deep Basin trend in\n \n Alberta\n \n , and includes four operated gas plants with total capacity of 102 mmcf/d. This footprint is contiguous and complementary to Vermilion's legacy Deep Basin assets, providing significant operational and corporate synergies. Vermilion has identified over 700 future drilling locations on the acquired acreage, across multiple zones including the\n \n Ellerslie\n \n , Notikewin,\n \n Rock Creek\n \n ,\n \n Falher\n \n , Cardium, Wilrich and Niton formations, with half-cycle IRRs ranging from 40% to over 100% based on estimates provided by McDaniel & Associates Consultants Ltd (\"McDaniel\")\n \n (2)\n \n . With this depth and quality of inventory, Vermilion expects the acquired assets to have the ability to maintain flat production for over 15 years while generating...