Canada’s Tourmaline Gains in Q4 on Acquisitions Mar 11, 2021 7:19:pm Summary by: Dale Lunan Canada’s Tourmaline Gains in Q4 on Acquisitions Tourmaline Oil, now billing itself Canada’s largest natural gas and NGL producer, reported Q4 2020 net earnings of C$629.2mn (US$500.6mn) on March 10, up from C$61.3mn in the comparable 2019 period. It attributed the increase to a gain on acquisitions and divestitures of C$500mn in the quarter – a period which saw it acquire Modern Resources and Jupiter Resources for C$570mn in cash and shares and the assumption of C$244mn of debt. Net earnings for the full year increased to C$618.3mn from C$319.7mn.