The $9-million Polar Star buy includes 106,000 acres and a compressor station. Even as the prices of energy stocks were getting crushed, the share price of natural gas producer Tourmaline Oil Corp. (TSX:TOU) was rising. “There’s no rush. Acquisitions have been something of an anomaly in Alberta’s oil and gas sector of late, with international and Canadian investors turning their backs as prices languish and global talk turns toward greener energy. Some information in it may no longer be current. “We’ll wait for higher prices to do that,” Mr. Rose, Tourmaline’s chairman and chief executive, told The Globe and Mail. Full Disclaimer. Analyst Robert Fitzmartyn, head of energy institutional research at Stifel FirstEnergy, wasn’t surprised by Tourmaline’s move to buy Chinook and Polar Star. We hope to have this fixed soon. Your time is valuable. Tourmaline expects its latest acquisitions to close in late April, subject to regulatory, court and shareholder approval. InfoBoxen. Tourmaline’s strategy is to increase its slice of the natural-gas pie in the Montney, ready for a time when prices and demand start to increase. If you are looking to give feedback on our new site, please send it along to, To view this site properly, enable cookies in your browser. THE EX-DIVIDEND/INTEREST DAY WILL BE 13.03.2020. Calgary-based Tourmaline has earmarked $24.4-million to acquire Chinook. Together, the two sites produce about 6,000 barrels of gas and condensate each day and have close to 116.3 million barrels of proven and probable reserves. The post My 3 Top Picks During The Market Crash appeared first on The... FOLGENDE WERTPAPIERE WERDEN AM 13.03.2020 EX DIVIDENDE/ZINSEN GEHANDELT. Production of 3,500 boepd was acquired along with … This is a space where subscribers can engage with each other and Globe staff. The transaction will be completed by way of a plan of arrangement under the Business Corporations Act (Alberta), and is expected to close in late April. “I won’t say it will be broad and frequent … [but] what we’re seeing in the tea leaves is intimating it’s a cost to capital advantage to do so,” he said. Following the Tourmaline - Chinook transaction, details can be found on the Tourmaline website at the following link: https://www.tourmalineoil.com/ Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Watchlist - individualisierbar! Tourmaline has entered into a definitive arrangement agreement with Chinook Energy Inc. (“Chinook”) to acquire all of the issued and outstanding common shares of Chinook through a plan of arrangement for cash consideration of $0.0675 per share. Read our. 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Marktüberblick; Firmen im Fokus; Indizes Chartübersicht; Indizes Aktiencharts. The post Canada's Oil Market Crash - Is This Energy Stock a Good Buy? There's always a deal to be made! Chinook’s assets include 54,000 acres of Montney lands in the Birley/Umbach area of Northeast British Columbia with approximately 3,500 barrels of oil equivalent (boe) per day of production, 35.6 million boe of 2P reserves, a gas plant, a compressor station, and a 190 million cubic feet per day regional 12-inch pipeline. ATX Aktiencharts; DAX Aktiencharts The total cash consideration will be approximately $24.4 million, including assumed debt. Readers can also interact with The Globe on Facebook and Twitter . “We figured out how to internally crystallize a portion of our value that isn’t being recognized by the market,” Mr. Rose said. Calgary, Alberta-- (Newsfile Corp. - April 20, 2020) - Chinook Energy Inc. (TSX: CKE) ("Chinook") is pleased to announce that today it received shareholder and … If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. But for Tourmaline, it’s a key strategy that will continue as long as the price is right and assets jibe with the company’s key Western Canadian areas in the Montney, Alberta Deep Basin and Peace River. Calgary, Alberta – Chinook Energy Inc. (TSX: CKE) (“Chinook” or the “Company”) is pleased to announce today that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which Tourmaline Oil Corp. (TSX: TOU) (the “Purchaser”) has agreed to acquire all of the outstanding common shares of Chinook (“Chinook Shares”) for cash consideration of $0.0675 per … His company, Tourmaline Oil Corp., is taking advantage of that, buying up assets to make the most of a market in the doldrums. Please log in to listen to this story. Also available in French and Mandarin. After all, he said, if your company is bound by external factors and can’t build infrastructure, then the market would encourage you to increase your business by acquisition because it doesn’t add to the basin supply output. But at this point in time, the growth on the gas business will be through acquisition,” Mr. Rose said. The cash to buy Polar Star and Chinook comes through a new royalty and energy infrastructure company Tourmaline created last year called Topaz Energy Corp. THE EX-DIVIDEND/INTEREST DAY OF THE FOLLOWING SHARES WILL BE 12.06.2020. INSTR EXCH ISIN INSTRUMENT NAME REF.PRC ADJUST Welcome to The Globe and Mail’s comment community. appeared first on The Motley Fool Cana... Tourmaline Oil Corp. gab gestern bekannt, dass es die Vereinbarung mit Chinook Energy Inc. abgeschlossen hat, in deren Rahmen es alle ausstehenden und ausgegebenen Aktien von Chinook erworben hat. Thank you for your patience. With many oil and gas companies in Western Canada up for sale and facing “extremely low” valuations, Michael Rose likens the current state of Alberta’s oil and gas industry to the 2008 financial crisis. Tourmaline Oil declares CAD 0.12 dividend (SeekingAlpha), Tourmaline Oil Corp (TRMLF) CEO Mike Rose on Q2 2020 Results - Earnings Call Transcript (SeekingAlpha), Tourmaline Oil reports Q2 results (SeekingAlpha), This TSX Energy Stock Is a Screaming Buy Below $10 (Fool), DIVIDEND/INTEREST INFORMATION - 12.06.2020 - 5 (XETRA), Better Low-Cost Canadian Gas Producer: Tourmaline Oil Vs. ARC Resources (SeekingAlpha), Tourmaline Oil Corp (TRMLF) CEO Michael Rose on Q1 2020 Results - Earnings Call Transcript (SeekingAlpha), Tourmaline Oil (TRMLF) Investor Presentation - Slideshow (SeekingAlpha), Tourmaline Oil reports Q1 results (SeekingAlpha), Canada′s Oil Market Crash - Is This Energy Stock a Good Buy? We aim to create a safe and valuable space for discussion and debate. Assets include 54,000 acres of land, a gas plant, a compressor station and a regional pipeline. Previously, during November 2019, Chinook announced that the company had initiated a formal review process to identify, examine and consider a range of strategic alternatives to enhance shareholder value. THE EX-DIVIDEND/INTEREST DAY OF THE FOLLOWING SHARES WILL BE 13.03.2020. Despite the volatility that will likely remain in 2020, Tourmaline Oil (TSX:TOU) should deliver strong cash flow and production growth in 2021. The post This TSX Energy Stock Is a Screaming Buy Below $10 appeared first on The Motley Fool Canada.... FOLGENDE WERTPAPIERE WERDEN AM 12.06.2020 EX DIVIDENDE/ZINSEN GEHANDELT. >THEMEN. © Copyright 2020 The Globe and Mail Inc. All rights reserved. This article was published more than 6 months ago. Calgary-based Tourmaline has earmarked $24.4-million to acquire Chinook. “All assets are undervalued right now, including us, so from that perspective yes” it was a good deal, Mr. Rose said.

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