Canada’s Top Natural Gas Producer Acquires Rival to Capitalize on Higher Prices ...Middle East

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Canada’s Top Natural Gas Producer Acquires Rival to Capitalize on Higher Prices
source : OILPRICE ( Middle East ) () 35
Canada’s Tourmaline Oil Corp. has announced the acquisition of Crew Energy for some C$1.3 billion, or $950 million, as part of expansion plans ahead of an expected uptick in natural gas prices. Like Tourmaline itself, Crew Energy operates in the Montney Formation and the Alberta Deep Basin, which, the acquiring company noted in its release, are the biggest natural gas reservoirs in Canada. “Generally, the right time (for deals) is at the bottom of cycles, and we think we are near, or at, or past the bottom in the natural gas pricing…

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