Vermilion Energy Acquires Leucrotta Exploration for CA$477 Million

As part of the acquisition, Vermilion Energy will transfer a portion of the Leucrotta land base and approximately CA$43.5 million of cash to a new company which will be managed by the existing Leucrotta team.

Vermilion Energy Inc. recently agreed to acquire Leucrotta Exploration Inc. for a net cash purchase price of CA$477 million, expanding the company’s position in the Montney Shale play.

“The Leucrotta acquisition is an important component of our strategic plan as it is a scalable asset and is expected to provide us with 20+ years of high value Tier 1 drilling inventory,” Vermilion President Dion Hatcher commented in a release by the Calgary, Alberta-based company on March 28.

Leucrotta is a Canadian publicly listed Montney-focused oil and natural gas exploration and development company with lands located in the Mica area of Northeast British Columbia and Northwest Alberta. Vermilion’s acquisition of Leucrotta follows an agreement to acquire Equinor Energy Ireland Ltd. last November for CA$556 million (US$434 million).

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.