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

Diversified Energy To Acquire Birch Permian Holdings for $1.8 Billion

September 3, 2026

Energy

Diversified Energy has agreed to acquire Birch Permian Holdings (and certain affiliated companies) for approximately $1.8 billion, expanding its Permian Basin operated position. The company expects the deal to increase production by ~35% and adjusted EBITDA by ~55%, with closing expected in Q4 2026 subject to regulatory approvals and customary conditions.

Canadian Natural Resources Acquires Tourmaline Oil Corp

January 14, 2026

Oil & Gas

Canadian Natural Resources Ltd. has acquired Tourmaline Oil Corp for approximately $800 million, consolidating a major natural gas producer into its portfolio. The deal brings Tourmaline’s Calgary-headquartered natural gas assets and production into Canadian Natural’s operations to expand scale, capabilities and market access across North America and international markets.

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.

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.

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.

Tamarack Valley Energy Acquires Crestwynd Exploration Ltd.

February 15, 2022

Oil & Gas

Tamarack Valley Energy Ltd. completed the acquisition of privately held Crestwynd Exploration Ltd., a Clearwater-focused oil producer, by purchasing all issued and outstanding shares for 26.3 million Tamarack common shares and $92 million in cash. The deal makes Tamarack the largest operator in the Southern Clearwater with the acquired assets forecasted to produce ~4,500 boe/d.