Vermilion Energy announces Corrib acquisition

On November 29, 2021, Vermilion Energy Inc. ("Vermilion") announced that it entered into an agreement with Equinor ASA (“Equinor”) to acquire its wholly owned subsidiary Equinor Energy Ireland Limited which owns a 36.5% interest in the Corrib Natural Gas Project ("Corrib") for a total consideration of US$434 million (C$556 million), before closing adjustments and contingent payment.

Expected to close during the second half of 2022 after all requisite approvals have been received, the transaction has an effective date of January 1, 2022.

Further information can be found on Canada Newswire’s website.

Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing assets in North America, Europe and Australia.

Equinor is an energy company with more than 21,000 employees developing oil, gas, wind and solar energy in more than 30 countries.