Growing Tourmaline Snaps Up Another Montney Player

摘要

Tourmaline Oil, already the largest producer in Western Canada's red-hot Montney Shale play, has gotten even bigger, striking yet another acquisition deal with an eye toward producing half a million barrels of oil equivalent per day by next year. This time, Calgary-based Tourmaline has agreed to buy privately held Black Swan Energy for a total consideration of around C$1.1 billion (US$909 million), comprising 26 million Tourmaline shares and the assumption of net debt of up to C$350 million.