Calgary-based Vermilion Energy Inc. has gained 120 square miles of natural gas-rich Montney Shale drilling rights with a C$477 million ($382 million) takeover of Leucrotta Exploration Inc. The acquired property package in northern Alberta and British Columbia was announced Monday. 

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Vermilion said the Leucrotta deal would enable more than doubling current combined natural gas and liquids production to 13,000 boe/d.

The exploration and production company, with Dutch, Irish and Western Canadian production, expects the Leucrotta assets to have “plateau production” of 28,000 boe/d “over the next few years…

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“We have conservatively...