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Topaz Energy Corp ( (TSE:TPZ) ) has issued an update.
Topaz Energy Corp announced the acquisition of a gross overriding royalty interest and a 35% working interest in a natural gas processing facility in the Alberta Montney for $43 million. This acquisition is expected to generate approximately $5 million in annualized revenue, with potential for growth from future acreage development. The acquisition is backed by contractual commitments for development capital and take-or-pay agreements, ensuring minimal financial risk to Topaz. This strategic move is anticipated to strengthen Topaz’s market position and enhance its revenue streams, providing significant implications for stakeholders.
More about Topaz Energy Corp
Topaz Energy Corp is a royalty and infrastructure energy company focused on generating free cash flow growth and paying sustainable dividends through its strategic relationship with Tourmaline Oil Corp, Canada’s largest natural gas producer. The company targets top-tier energy resources and assets to ensure long-term growth and profitability. Topaz’s common shares are traded on the TSX under the symbol ‘TPZ’ and are part of the S&P/TSX Composite Index.
YTD Price Performance: -11.39%
Average Trading Volume: 386,755
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$3.84B
See more insights into TPZ stock on TipRanks’ Stock Analysis page.
