Calgary-based company Vermilion Energy Inc. confirmed Wednesday that they've sold off non-core oil assets in southeast Saskatchewan, worth $225 million.
The assets include 5,500 barrels of oil in the Arcola and Queensdale areas.
The transaction was effective as of Sept. 1, 2022.
The company said the move was part of its strategy for attaining "long term success by high-grading our North American inventory, reducing unit cost and accelerating the timeline of achieving our debt reduction targets."
Vermilion is an international energy producer that has assets in North America, Europe and Australia.