Vermilion Energy to acquire Westbrick Energy for C$1.08 billion (updated)

Vermilion Energy

23/12/2024 12:21

(Adds share movement, details in paragraph 2-4)
       Dec 23 (Reuters) - Canada's Vermilion Energy  VET.TO 
said on Monday it will acquire privately held oil and gas firm
Westbrick Energy for C$1.075 billion ($746.53 million),
strengthening its position in the Deep Basin of Alberta.
    U.S.-listed shares were up 1.4% at $8.99 in premarket trade.
    The acquisition, which is expected to close in the first
quarter of 2025, is likely to add 50,000 barrels of oil
equivalent per day to its existing production.
    The integrated oil and gas firm said the acquisition will
make it the fifth largest producer in the basin.

($1 = 1.4400 Canadian dollars)

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Savio
D'Souza and Krishna Chandra Eluri)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))