Canadian Natural Resources Acquires Tourmaline Oil Corp

Tourmaline Oil Corp Acquires Crew Energy Inc.

August 12, 2024

Energy

Tourmaline Oil Corp. has entered into a definitive arrangement to acquire all issued and outstanding common shares of Crew Energy Inc. in exchange for 18.778 million Tourmaline common shares and the assumption of approximately $240 million of net debt, for total consideration of about $1.3 billion. The deal, approved by both boards and expected to close in early October 2024, significantly increases Tourmaline's NEBC Montney position, adds ~29,000–30,000 boepd of production and material reserves, and is expected to be accretive to free cash flow with substantial identified synergies.

Tourmaline Oil Corp. Acquires Black Swan Energy Ltd. (and Paramount Birch Assets)

July 15, 2021

Oil & Gas

Tourmaline Oil Corp. closed its acquisition of Black Swan Energy Ltd. and also acquired Paramount Resources Ltd.'s Birch-area Montney lands and assets, consolidating key Northeast B.C. Montney positions. The transactions increase Tourmaline's production profile and complement a separate long-term gas supply agreement with Cheniere Energy to access LNG markets.

McEwen Mining Acquires Timberline Resources

April 16, 2024

Energy

McEwen Mining Inc. has entered into a definitive agreement to acquire all outstanding shares of Timberline Resources Corporation in an all-share merger. The deal will expand McEwen's portfolio of development and exploration projects in Nevada; Timberline shareholders will receive 0.01 of a McEwen share per Timberline share, implying a transaction value of roughly US$18.8 million (excluding McEwen’s existing ownership).

Rio Tinto Proposes C$43/Share Buyout of Turquoise Hill Resources

November 18, 2022

Energy

Rio Tinto agreed to proceed with a plan of arrangement to acquire the roughly 49% of Turquoise Hill Resources it does not already own for C$43.00 per share in cash, while terminating previously announced agreements with certain named securityholders. The deal is presented as Rio Tinto’s best and final all-cash proposal to simplify governance and provide funding certainty for the Oyu Tolgoi copper project; Rio Tinto made additional irrevocable commitments for dissenting minority shareholders.

Strathcona Resources Ltd. to Acquire Pipestone Energy Corp. in All-Share Transaction

August 1, 2023

Oil & Gas

Strathcona Resources Ltd. has entered into a definitive plan of arrangement to acquire all issued and outstanding common shares of Pipestone Energy Corp. in an all-share transaction that will combine the companies into a single public reporting issuer (AmalCo). The deal creates a larger, oil-weighted Canadian producer with complementary Montney and heavy oil assets, improving scale, reserve life and market relevance for Pipestone shareholders.

Terramont Infrastructure Partners Acquires Majority Interest in Bull Moose Capital

October 2, 2025

Oil & Gas

Terramont Infrastructure Partners has acquired a majority interest in Bull Moose Capital Ltd., Canada’s largest provider of natural gas compression and power generation solutions. The seller was TriWest Capital Partners, and Terramont said the investment will support Bull Moose’s geographic expansion and increased focus on larger energy infrastructure projects.