Headquartered in Calgary, Canada, Vermilion Energy Inc. (VET) is a petroleum and natural gas producer that operates across North America, Europe, and Australia. Last month, VET acquired Leucrotta Exploration Inc., a Montney-focused oil and natural gas exploration and development company, for approximately $477 million. This strategic acquisition is expected to add 20-plus years of free cash flow and further position the company to deliver long-term shareholder returns.
Shares of VET have gained 74.9% in price year-to-date and 172.2% over the past year to close Friday’s trading session at $22.70. Surging oil and gas prices have contributed to the stock’s rally. VET is currently trading near its 52-week high of $23.93, which it hit on March 8, 2022.
