As part of the deal, Vermilion will acquire a 25% interest in the fields and a surrounding exploration license.

In addition, the company will also acquire a 0.4% equity interest in Ergas Munster, which will transport, process, and market gas in northwest Germany.

The exploration and production licenses are expected to include around 204,000 gross acres, of which 85% is in the exploration license.

The acquired assets are expected to produce at an average rate of around 18 million cubic feet per day net in 2013, while have an estimated proved and probable reserves of 10.1 million boe net, as of year-end 2013.

The transaction, which is expected to be completed in December, is subject to customary closing conditions.

Vermilion is engaged in the acquisition, exploration, development and optimization of producing properties in Western Canada, Europe and Australia.