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Vermilion Energy to acquire Westbrick Energy for C$1.08 billion
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Vermilion Energy to acquire Westbrick Energy for C$1.08 billion
Dec 23, 2024 4:48 AM

Dec 23 (Reuters) - Canada's Vermilion Energy ( VET )

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)

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