Vermilion Energy Inc. has completed its previously announced transaction with Northern Petroleum Plc. (Northern) whereby Vermilion, through its wholly-owned subsidiary, has acquired 100% of the shares of Northern Petroleum Nederland B.V. (NPN) (the "Acquisition").
NPN is the Netherlands subsidiary of UK-based Northern. Based on the effective date of January 1, 2013, and customary closing adjustments, Vermilion's cash cost for the Acquisition was $27.5 million which was funded from cash on hand. Vermilion also granted Northern minority net profit participation rights on select license interests included in the Acquisition.