Announcement • Jun 04
Tourmaline Oil Corp. Declares Quarterly Cash Dividend, Payable on June 30, 2026 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of $0.50 per share. The dividend will be payable on June 30, 2026 to shareholders of record at the close of business on June 15, 2026. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Apr 04
Tourmaline Oil Corp. to Report Q1, 2026 Results on May 06, 2026 Tourmaline Oil Corp. announced that they will report Q1, 2026 results After-Market on May 06, 2026 Announcement • Mar 24
Tourmaline Oil Corp., Annual General Meeting, Jun 03, 2026 Tourmaline Oil Corp., Annual General Meeting, Jun 03, 2026. Announcement • Mar 13
Tourmaline Oil Corp. announced that it expects to receive CAD 250 million in funding Tourmaline Oil Corp. announced a private placement to issue senior unsecured notes for aggregate principal amount of CAD 250 million on March 12, 2026. The notes will be issued at par and will bear interest at a fixed rate of 3.934% per annum, payable semi-annually on the 16th day of March and September of each year, commencing on September 16, 2026. The notes will mature on March 16, 2031. The notes, offered on a best-efforts basis and are expected to be issued on or about March 16, 2026, subject to customary closing conditions. Announcement • Jan 14
Canadian Natural Resources Reportedly Set to Acquire Tourmaline’s Natural Gas Business Canadian Natural Resources Limited (TSX:CNQ) is poised to purchase a $1-billion-plus portfolio of Alberta natural gas properties from Tourmaline Oil Corp. (TSX:TOU). Canadian Natural filed the paperwork for federal Competition Bureau approval of a transaction with Tourmaline on Dec. 30, according to a recent notification published by the bureau. However, the regulator and the Calgary-based companies did not disclose details of the potential deal. Canadian Natural is in talks to acquire a natural gas business in Alberta’s Peace River region that Tourmaline put up for sale in November, according to two sources familiar with the negotiations. The Globe is not naming the sources because they are not authorized to speak publicly about the talks. Last year, analysts estimated the portfolio could fetch up to $1.4-billion. Canadian Natural also owns gas wells and energy infrastructure in the area. Tourmaline’s Peace River operations include 2,428 horizontal wells, 34 gas plants and 15,500 kilometres of pipelines. Canadian Natural is seeking preliminary regulatory feedback on a potential acquisition of the Tourmaline assets prior to announcing a purchase, the sources said. Tourmaline said it would not comment on the sale process of its Peace River assets before its first-quarter report, which is slated for March 4. Canadian Natural also declined to comment on the regulatory filing. The application to the federal competition watchdog suggests that the scale of Canadian Natural’s potential acquisition requires regulatory approval, a relatively common development when companies in mature sectors such as energy buy businesses from peers. Tourmaline’s sale of its Peace River assets is expected to lower its operational expenses this year by roughly 7%, ATB Financial said in its 2026 oil and gas outlook. Announcement • Dec 02
Tourmaline Oil Corp. Declares Quarterly Dividend, Payable on December 31, 2025 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.50 per common share. The dividend will be payable on December 31, 2025 to shareholders of record at the close of business on December 15, 2025. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Sep 04
Tourmaline Oil Corp. Declares Quarterly Cash Dividend on Common Shares, Payable on September 29, 2025 Tourmaline Oil Corp. declared a quarterly cash dividend on its common shares of CAD 0.50 per common share. The dividend will be payable on September 29, 2025 to shareholders of record at the close of business on September 15, 2025. Announcement • Jun 05
Tourmaline Oil Corp. Declares Quarterly Dividend, Payable on June 30, 2025 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.50 per share. The dividend will be payable on June 30, 2025 to shareholders of record at the close of business on June 16, 2025. Announcement • May 15
Tourmaline Oil Corp. (TSX:TOU) agreed to acquire Groundbirch asset of Strathcona Resources Ltd. (TSX:SCR) for approximately $290 million. Tourmaline Oil Corp. (TSX:TOU) agreed to acquire Groundbirch asset of Strathcona Resources Ltd. (TSX:SCR) for approximately $290 million on May 14, 2025. The consideration consists of common equity of Tourmaline Oil Corp. having a value of $291.5 million to be issued for assets of Groundbirch asset of Strathcona Resources Ltd. As part of consideration, $291.5 million is paid towards assets of Groundbirch asset of Strathcona Resources Ltd. The share consideration is not subject to any lock-up periods beyond a four-month statutory hold period. The expected completion of the transaction is Q2, 2025 and the deal is subjected to receipt of regulatory approvals and the
satisfaction of other customary closing conditions. Scotiabank acted as lead financial advisor and RBC Capital Markets and ATB Capital Markets acted as financial advisors on the Groundbirch Sale. Blake, Cassels & Graydon LLP acted as legal advisor to Strathcona in respect of each of the transactions. In related transactions Strathcona Resources Ltd. divested, Kakwa asset and Grande Prairie asset. Announcement • Mar 25
Tourmaline Oil Corp., Annual General Meeting, Jun 04, 2025 Tourmaline Oil Corp., Annual General Meeting, Jun 04, 2025. Announcement • Dec 03
Tourmaline Oil Corp. Declares Quarterly Dividend, Payable on December 31, 2024 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.35 per common share. The dividend will be payable on December 31, 2024 to shareholders of record at the close of business on December 16, 2024. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Oct 02
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Crew Energy Inc. (TSX:CR) from Equinox Partners LP, a fund managed by Equinox Partners Investment Management LLC and others. Tourmaline Oil Corp. (TSX:TOU) enter into a non-binding letter of intent to acquire Crew Energy Inc. (TSX:CR) from Equinox Partners LP, a fund managed by Equinox Partners Investment Management LLC and others on July 15, 2024. Tourmaline Oil Corp. (TSX:TOU) entered into an agreement to acquire Crew Energy Inc. (TSX:CR) from Equinox Partners LP, a fund managed by Equinox Partners Investment Management LLC and others for CAD 1.1 billion on August 11, 2024. Tourmaline has agreed to acquire all of the issued and outstanding common shares of Crew in an all-stock transaction. The transaction is valued at approximately CAD 6.69 per Crew Share or CAD 1.3 billion enterprise value, including Crew's net debt, which is estimated to be CAD 240 million (including closing costs). Under the terms of the Agreement, holders of Crew Shares will receive 0.114802 of a Tourmaline Share in exchange for each one Crew Share held. If the agreement is terminated by the Crew, it shall pay to Tourmaline a termination fee of CAD 70 million.
The Board of Directors of each of Crew and Tourmaline have unanimously approved the acquisition. The transaction is subject approval of Crew shareholder. The completion of the transaction is subject to customary closing conditions including, without limitation, receipt of court approval, third party approval, shareholders of Crew representing not more than 7.5% shall have validly exercised, and not withdrawn, dissent rights, and customary regulatory and stock exchange approvals including under the Competition Act (Canada) as well as Tourmaline Shares to be issued to Crew Shareholders in exchange for their Crew Shares be approved for listing on the TSX. Government of Canada started review of the transaction August 19, 2024. Concurrently with the arrangement agreement, Tourmaline entered into voting agreements with all of the directors and executive officers of Crew and Equinox Partners, to vote in favor of the transaction. The transaction is expected to close in early October 2024 or on about October 1, 2024. It provides a significant high-quality addition to Tourmaline's South Montney asset base and is immediately accretive to the Company's key financial and reserve metrics, adding over CAD 200 million to Tourmaline's anticipated 2025 free cash flow. As of October 1, 2024, the transaction was approved by the target's shareholders. Crew and Tourmaline have also received the Key Regulatory Approvals. Subject to receipt of the final order from the Court, the Arrangement is expected to become effective later today.
TD Securities Inc. acted as financial advisor to Crew. TD Securities Inc. acted as fairness opinion provider to Crew. ATB Securities Inc. acted as financial advisor to Crew. ATB Securities Inc. acted as fairness opinion provider Crew. Peters & Co. Limited acted as exclusive financial advisor to Tourmaline. Scott R. Cochlan of Torys LLP acted as legal advisor to Crew Energy. Bill Maslechko of Burnet, Duckworth & Palmer LLP acted as legal advisor to Tourmaline Oil Corp. Odyssey Trust Company acted as transfer agent and depository to Crew. KPMG LLP acted as an auditor to Crew.
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Crew Energy Inc. (TSX:CR) from Equinox Partners LP, a fund managed by Equinox Partners Investment Management LLC and others on October 1, 2024. Announcement • Sep 04
Tourmaline Oil Corp. Declares Quarterly Dividend, Payable on September 27, 2024 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.35 per common share. The dividend will be payable on September 27, 2024 to shareholders of record at the close of business on September 13, 2024. Announcement • Aug 13
Tourmaline Oil Corp. (TSX:TOU) entered into an agreement to acquire Crew Energy Inc. (TSX:CR) from Equinox Partners LP, a fund managed by Equinox Partners Investment Management LLC and others for CAD 1.1 billion. Tourmaline Oil Corp. (TSX:TOU) entered into an agreement to acquire Crew Energy Inc. (TSX:CR) from Equinox Partners LP, a fund managed by Equinox Partners Investment Management LLC and others for CAD 1.1 billion on August 12, 2024. Tourmaline has agreed to acquire all of the issued and outstanding common shares of Crew in an all-stock transaction. The transaction is valued at approximately CAD 6.69 per Crew Share or CAD 1.3 billion, including Crew's net debt, which is estimated to be CAD 240 million (including closing costs). Under the terms of the Agreement, holders of Crew Shares will receive 0.114802 of a Tourmaline Share in exchange for each one Crew Share held.
The Board of Directors of each of Crew and Tourmaline have unanimously approved the acquisition. The transaction is subject approval of Crew shareholder. The completion of the transaction is subject to customary closing conditions including, without limitation, receipt of court approval and customary regulatory and stock exchange approvals including under the Competition Act (Canada). The transaction is expected to close in early October 2024 or on about October 1, 2024. It provides a significant high-quality addition to Tourmaline's South Montney asset base and is immediately accretive to the Company's key financial and reserve metrics, adding over CAD 200 million to Tourmaline's anticipated 2025 free cash flow.
TD Securities Inc. acted as financial advisor to Crew. TD Securities Inc. acted as fairness opinion provider to Crew. ATB Securities Inc. acted as financial advisor to Crew. ATB Securities Inc. acted as fairness opinion provider Crew. Peters & Co. Limited acted as exclusive financial advisor to Tourmaline. Announcement • Jun 06
Tourmaline Oil Corp. Declares Quarterly Cash Dividend, Payable on June 28, 2024 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.32 per share. The dividend will be payable on June 28, 2024 to shareholders of record at the close of business on June 14, 2024. Announcement • May 30
Tourmaline Oil Corp. announced that it expects to receive CAD 250 million in funding Tourmaline Oil Corp. announced a private placement to issue senior unsecured notes for aggregate principal amount of CAD 250 million on May 28, 2024. The notes will be issued at par and will bear interest at a fixed rate of 4.856% per annum, payable semi-annually on the 30th day of November and May of each year, commencing on November 30, 2024. The notes, offered on a best-efforts basis and are expected to be issued on or about May 30, 2024, subject to customary closing conditions. Announcement • May 03
Tourmaline Oil Corp. to Report Q1, 2024 Results on May 01, 2024 Tourmaline Oil Corp. announced that they will report Q1, 2024 results After-Market on May 01, 2024 Announcement • Mar 26
Tourmaline Oil Corp., Annual General Meeting, Jun 05, 2024 Tourmaline Oil Corp., Annual General Meeting, Jun 05, 2024. Announcement • Dec 02
Tourmaline Oil Corp Declares Quarterly Cash Dividend, Payable on December 29, 2023 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.28 per common share. The dividend will be payable on December 29, 2023 to shareholders of record at the close of business on December 15, 2023. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Nov 18
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Bonavista Energy Corporation. Tourmaline Oil Corp. (TSX:TOU) entered into a share purchase agreement to acquire Bonavista Energy Corporation for CAD 1.5 billion on October 16, 2023. The transaction was unanimously approved by board of directors of Tourmaline and Bonavista. The transaction is subject to customary regulatory and stock exchange approvals. The transaction is expected close in second half of 2023. Peters & Co., Limited acted as financial advisor to Tourmaline Oil Corp. Tudor, Pickering, Holt & Co., LLC acted as financial advisor to Bonavista Energy Corporation.
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Bonavista Energy Corporation on November 17, 2023. Announcement • Nov 01
Tourmaline Oil Corp. to Report Q3, 2023 Results on Nov 01, 2023 Tourmaline Oil Corp. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023 Announcement • Sep 02
Tourmaline Oil Corp. Declares A Quarterly Cash Dividend, Payable on September 29, 2023 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.26 per common share. The dividend will be payable on September 29, 2023 to shareholders of record at the close of business on September 15, 2023. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Jun 08
Tourmaline Oil Corp. Declares a Quarterly Cash Dividend, Payable on June 30, 2023 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.26 per share. The dividend will be payable on June 30, 2023 to shareholders of record at the close of business on June 15, 2023. Announcement • May 10
Tourmaline Oil Corp. Provides an Update on Operations Impacted by Alberta Wildfires Tourmaline Oil Corp. provided an update on operations impacted by Alberta wildfires. Tourmaline staff and families have been safely evacuated from certain operated facilities and homes in the greater Edson area. The Company evacuated and shut down nine South and West Deep Basin gas processing facilities between the afternoon of May 5, 2023 and the afternoon of May 6, 2023 as nearby fires expanded and new wildfires rapidly emerged. Tourmaline is not aware of any damage to those facilities to date, and access to the sites is currently prohibited. Tourmaline will quantify the timeline for production resumption at the 9 sites and the total production impact on second quarter in subsequent updates. Announcement • May 04
Tourmaline Oil Corp. Declares to Pay Special Dividend, Payable on May 19, 2023 Tourmaline Oil Corp. declared to pay a special dividend of $1.50 per share on May 19, 2023, to shareholders of record on May 11, 2023. This special cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Announcement • Feb 26
Tourmaline Oil Corp. to Report Q4, 2021 Results on Mar 02, 2022 Tourmaline Oil Corp. announced that they will report Q4, 2021 results After-Market on Mar 02, 2022 Announcement • Jul 16
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Black Swan Energy Ltd. Tourmaline Oil Corp. (TSX:TOU) entered into a definitive agreement to acquire Black Swan Energy Ltd. for CAD 1.1 billion on June 11, 2021. Tourmaline will issue 26 million shares as consideration and will assume net debt up to a maximum of CAD 350 million, including all transaction costs. The transaction is subject to regulatory approval. The board of directors of each Black Swan and Tourmaline have unanimously approved the transaction. The transaction is expected to close in the second half of July 2021. Scotia and Stifel FirstEnergy acted as financial advisors to Tourmaline and Peters & Co. Limited acted as financial advisor to Black Swan.
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Black Swan Energy Ltd. on July 15, 2021. Announcement • Jun 12
Tourmaline Oil Corp. (TSX:TOU) entered into a definitive agreement to acquire Black Swan Energy Ltd. for CAD 1.1 billion. Tourmaline Oil Corp. (TSX:TOU) entered into a definitive agreement to acquire Black Swan Energy Ltd. for CAD 1.1 billion on June 11, 2021. Tourmaline will issue 26 million shares as consideration and will assume net debt up to a maximum of CAD 350 million, including all transaction costs. The transaction is subject to regulatory approval. The board of directors of each Black Swan and Tourmaline have unanimously approved the transaction. The transaction is expected to close in the second half of July 2021. Scotia and Stifel FirstEnergy acted as financial advisors to Tourmaline and Peters & Co. Limited acted as financial advisor to Black Swan. Announcement • Jun 03
Tourmaline Oil Corp. Declares Quarterly Cash Dividend, Payable on June 30, 2021 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.16 per common share. The dividend will be payable on June 30, 2021 to shareholders of record at the close of business on June 15, 2021. Announcement • May 07
Tourmaline Oil Corp. Provides Production Guidance for the Second Quarter and Full Year of 2021 and for 2022-2025 Tourmaline Oil Corp. provided production guidance for the second quarter of 2021. For the quarter, the company expects production of 400,000 boepd to 405,000 boepd, an increase from previous expectations of approximately 395,000 boepd. Second quarter 2021 production will continue to be impacted by planned pipeline maintenance and Company plant turnarounds which has been incorporated into current guidance estimates.
For the full year, the company expects estimated average production of 390,000 – 410,000 boepd and 426,000, 448,000, 465,000 and 482,000 boepd for 2022 - 2025, respectively. Announcement • Mar 12
Tourmaline Oil Corp. Declares Quarterly Cash Dividend, Payable on March 31, 2021 Tourmaline Oil Corp. announced that its Board of Directors has declared a quarterly cash dividend on its common shares of CAD 0.16 per common share. The dividend will be payable on March 31, 2021 to shareholders of record at the close of business on March 18, 2021. Announcement • Feb 17
Tourmaline Oil Corp. to Report Q4, 2020 Results on Mar 10, 2021 Tourmaline Oil Corp. announced that they will report Q4, 2020 results After-Market on Mar 10, 2021 Announcement • Jan 28
Tourmaline Oil Corp.(TSX:TOU) dropped from FTSE All-World Index (USD) Tourmaline Oil Corp.(TSX:TOU) dropped from FTSE All-World Index (USD) Announcement • Jul 31
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Chinook Energy Inc. (TSX:CKE). Tourmaline Oil Corp. (TSX:TOU) entered into a definitive arrangement agreement to acquire Chinook Energy Inc. (TSX:CKE) for CAD 15.1 million on February 22, 2020. Tourmaline has agreed to acquire all of the outstanding common shares of Chinook for cash consideration of CAD 0.0675 per share. Upon closing of the transaction, the Chinook shares will be de-listed from the TSX. The arrangement agreement provides for a non-completion fee of CAD 1.75 million to be paid by Chinook. The non-completion fee is payable in the event that the transaction is not completed or is terminated by Chinook in certain circumstances, including if Chinook enters into an agreement with respect to a superior proposal or if the Chinook Board withdraws or modifies its recommendation with respect to the transaction. The transaction is subject to various closing conditions, including receipt of all necessary regulatory approvals, court approval, third party approval, and outstanding indebtedness of Chinook not exceeding CAD 9.34 million, holders of Chinook’s common shares that have validly exercised, and not withdrawn, dissent rights shall represent not more than 17% of the common shares then outstanding, executed resignations and mutual releases having been received by Tourmaline from all of the directors of Chinook, approval by the Board of Tourmaline, Chinook’s shareholder approval at a meeting to be held on April 20, 2020 and all domestic and foreign statutory and regulatory waiting periods having been expired or terminated and no unresolved material objection or opposition having been filed, initiated or made during any applicable statutory or regulatory period.
The transaction will require the approval of 66 2/3% of the votes cast by the Chinook shareholders. All of the Directors and Executive Officers of Chinook and a significant shareholder of Chinook have entered into support agreements and have agreed to vote an aggregate of approximately 37% of the outstanding Chinook shares in favor of the transaction, subject to the provisions of such support agreements. The transaction has been unanimously approved by special committee of the Board of Chinook. The Board of Directors of Chinook unanimously recommended that its Shareholders vote in favour of the resolution approving the arrangement. A committee of independent directors of Chinook’s Board of Directors has been appointed to consider the arrangement. As of April 20, 2020, Chinook’s shareholder approved the transaction and Chinook received court approval for the transaction. Closing of the transaction anticipated to occur in late April 2020. As of March 10, 2020, the transaction is expected to be completed on or about April 21, 2020. Peters & Co. Limited provided an opinion that the consideration to be received by Chinook’s Shareholders pursuant to the arrangement is fair, from a financial point of view, to the Chinook’s shareholders. Simmons Energy | A Division of Piper Jaffray acted as financial advisor to Tourmaline Oil Corp. Andrew Sunter and Joanne Luu of Burnet, Duckworth & Palmer LLP acted as legal advisors for Chinook. AST Trust Company (Canada) acted as depositary in the transaction.
Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Chinook Energy Inc. (TSX:CKE) on April 21, 2020. The Chinook shares will be delisted from the Toronto Stock Exchange within two to three business days. Chinook has also applied to cease to be a reporting issuer in all provinces and territories of Canada. Announcement • Jul 17
Tourmaline Oil Corp. to Report Q2, 2020 Results on Jul 29, 2020 Tourmaline Oil Corp. announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Jul 29, 2020