Tourmaline Oil is a Canadian energy company founded in 2008 that is engaged in the exploration, development, and extraction of crude oil and natural gas. It is headquartered in Calgary, Alberta, and was known as the largest natural gas producer in Canada as of 2021.
According to reports, Tourmaline Oil has announced plans to acquire Crew Energy for approximately $947 million USD in an all-stock deal, which includes debt, to boost its presence in the Montney region northeast of British Columbia. This deal is expected to close in October 2024, pending regulatory approvals, and will add to Tourmaline’s assets and increase their production as well as reserves of about 473.2 million barrels of oil.
Crew Energy Inc. is a Canadian oil and natural gas production company founded in 2003 and headquartered in Calgary, Alberta. It produces natural gas, light oil, and condensate.
