Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.
CALGARY – Tourmaline Oil Corp. says that it has signed a $278.2-million deal with Topaz Energy Corp. giving Topaz a gross overriding royalty interest in recently acquired lands in Alberta and BC
The deal will see Topaz acquire royalty interests over approximately three million acres, more than half of which are undeveloped, in the Montney, Alberta Deep Basin and Peace River areas.
Tourmaline has acquired all the lands included in the deal in the last two years.
Under the terms of the deal, Topaz will receive a gross excess royalty rate of three percent on natural gas and 2.5 percent on crude oil and condensate.
Topaz says a strategic alignment with Tourmaline, Canada’s largest and most active natural gas producer, improves its own future growth prospects.
Tourmaline also said Tuesday that it has closed its previously announced acquisition of Crew Energy Inc., a transaction valued at approximately $1.4 billion.
This report was first published by The Canadian Press on October 1, 2024.
Companies in this story: (TSX: TPZ; TSX: TOU)
Canadian Press. All rights reserved.
!function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.request(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document, ‘script’, ‘fbq(‘init’, ‘682184526921804’); fbq(‘track’, ‘PageView’);
Source link
The post Topaz Energy to acquire royalty interest in Tourmaline property appeared first on Canada News Media.
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
source link https://canadanewsmedia.ca/topaz-energy-to-acquire-royalty-interest-in-tourmaline-properties/
