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Article content CALGARY — The deep freeze that swept across North America last month will provide a bumper year for Canada’s largest natural gas producer Tourmaline Oil Corp., a stock-market darling, that believes the outlook for gas is improving even in warmer weather. Tourmaline took advantage of the Polar Vortex in February, which blew Arctic weather across Texas and other southern U.S. states, by selling huge volumes of natural gas it had stored near San Francisco and Toronto to earn what analysts termed a “windfall” in February. We apologize, but this video has failed to load. Tr...

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 fo...

Shell sells its Alberta shale assets to Calgary-based Crescent Point By Robert Tuttle on 2/18/2021 Crescent Point Energy CALGARY (Bloomberg) --Crescent Point Energy Corp. agreed to buy some of Royal Dutch Shell Plc’s Western Canadian shale operations for about C$900 million ($707 million) in the latest example of consolidation in the Canadian oil and gas sector. Calgary-based Crescent Point, an oil driller with a focus on Saskatchewan, will acquire Shell’s Kaybob Duvernay assets for $550 million in cash and 50 million Crescent Point common shares. The...

John Zechner's Top Picks: Dec. 29, 2020 BNN Bloomberg VIDEO SIGN OUT Focus: North American large cap stocks MARKET OUTLOOK We head into 2021 with the most widely held consensus on both economic activity and stock market performance we have seen in decades. That alone tends to make us a bit nervous, especially with stock market valuations at record levels, investor sentiment ragingly bullish and speculative activity continuing to surge (think Tesla, SPACs, Bitcoin and IPO fever). Investors expect economic growth to rebound, which makes sense given that millions of COVID-19 vaccine dose...

Tourmaline Completes Strategic Acquisition of Jupiter Tourmaline Oil Corp. is pleased to announce the completion of its previously announced acquisition of Jupiter Resources Inc. whereby it acquired all of the issued and outstanding shares of Jupiter for total consideration of approximately $630.0 million comprised of 24.2 million Tourmaline common shares, and the assumption of net debt of approximately $200.0 million inclusive of all transaction costs. The Jupiter … Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to announce the completion of its previous...