CALGARY — Vermilion Energy Inc. has finalized a significant agreement to sell its U.S. assets for $120 million in cash. This strategic move includes approximately 5,500 barrels of oil equivalent per day in production and around 10 million barrels of oil equivalent in proved developed producing reserves.

The company plans to utilize the net proceeds from this sale to reduce its debt. The transaction has an effective date of January 1 and is anticipated to close in the third quarter of this year.

In conjunction with this sale, Vermilion has revised its 2025 capital budget, now estimating it to be between $630 million and $660 million. This marks a decrease of about $100 million from the previous guidance, which was set between $730 million and $760 million.

Looking ahead, Vermilion expects its production for the full year and the second half of 2025 to range from 117,000 to 122,000 barrels of oil equivalent per day. This adjustment reflects the company's ongoing efforts to streamline operations and manage its financial commitments effectively.