Tourmaline Oil (TSE:TOU) has released an update.
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Tourmaline Oil Corp. has announced an agreement to acquire Crew Energy Inc., strengthening its position as a leading Montney producer with a purchase worth approximately $1.3 billion. The acquisition is set to enhance Tourmaline’s financial metrics and add to its free cash flow, while supporting its goal of becoming a 750,000 boepd senior producer in Canada. This strategic move aligns with the company’s consolidation strategy and anticipation of growth in the North American LNG and natural gas markets.
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