Vermilion Energy Inc T.VET

corrib

[GOWEST]

And looking back was this ever a sweet deal...

• Vermilion has entered into an agreement to acquire Equinor Energy Ireland Limited which owns a 36.5% interest in Corrib ("Corrib Acquisition") for total consideration of US$434 million ($556 million), before closing adjustments and contingent payment. The transaction has an effective date of January 1, 2022 and is expected to close during the second half of 2022 after all requisite approvals have been received.
   
• The cash payment on closing will be reduced by the interim free cash flow ("FCF")(1) generated from the effective date to closing. We estimate a cash payment on closing in the range of $200 to $300 million, depending on the actual closing date, which we expect to fund within 2022 FCF. As part of the transaction, we have entered into an agreement with Equinor to hedge approximately 70% of the production for 2022 and 2023 which provides high certainty of an approximate two-year payback period.

[Oldnagger]

I am rather amazed that the stupid green led politicians in Europe did not offer it to Putin instead !! Seems that Shell (still owned by Royal Dutch Shell of UK and Netherlands origins) has deemed it wise to buy Russian Crude at a discount. Now to save face , they are saying that the profits will go to the Ukrainians !! I for one will make certain to not refuel at any of their stations any time

[prested]

Good choice! One of the few western European countries not in NATO so safe from any Putin!