Tourmaline Oil signs deal to buy Black Swan Energy worth $1.1B in stock and debt
|CTVnews 11 Jun 2021 at 09:52|
Tourmaline says the acquisition of Black Swan and its assets in northeast British Columbia is part of its consolidation strategy in the North Montney region that it expects to be a key area of growth.
The company says it now expects to average approximately 500,000 barrels of oil equivalent per day of production by mid-2022.
The deal is expected to close in the second half of July, subject to regulatory approvals.
Tourmaline says its board has also approved an increase in the company s quarterly dividend of a penny per share to 17 cents, effective in the third quarter.