CALGARY — Vermilion Energy Inc. says it has completed its acquisition of Leucrotta Exploration Inc.

Calgary-based Vermilion said in March that it would acquire the junior energy company in a deal worth $477 million.

Leucrotta is a Montney-focused oil and natural gas exploration and development company with property in northeast British Columbia and northwest Alberta.

Vermilion says as a result of the deal, it will acquire 81,000 acres of Montney mineral rights in the Peace River Arch area straddling the Alberta and B.C. boundary.

The company says North American natural gas prices have strengthened since the deal was announced, reinforcing the potential profitability of the new property.

Vermilion says Leucrotta shares will be delisted from the Toronto Stock Exchange and the company will cease to be a reporting issuer in Canada.

This report by The Canadian Press was first published May 31, 2022.

Companies in this story: (TSX:VET)

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • 0037 TED_DEEP_30_
  • 0036 Prairie Lithium - Chad Glemser 30 Sec
  • 0035 TED - Whitecap
  • 0034 TED_NA Helium 2021
  • 0033 Buffalo Potash Jared Small Footprint
  • 0032 IWS Summer hiring rock trailer music
  • 0029 Latus Viro updated Latus phone
  • 0027 TED_NA Helium 2021_30
  • 0025 Kendalls
  • 0026 Buffalo Potash Quinton Salt
  • 0023 LC Trucking tractor picker hiring mix
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0019 Jerry Mainil Ltd hiring dugout
  • 0018 IWS Hiring Royal Summer
  • 0014 Buffalo Potash What if PO
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0004 Royal Helium PO Ad 02
  • 9001
  • 0002