One-Page Deal Sheet
Tourmaline Bolts On Montney Acreage for $49 Million
Tourmaline Oil Corp. Not Disclosed
Announced Date
February 24,2020
Close Date
December 31,2019
Transaction Type
Acreage
Enterprise Value (EV)($MM)
49
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Tourmaline Oil Corp. has acquired a 75% working interest in a 13 section (8,320-acre) block of acreage (including 3D seismic) for $49 million in Q4 2019.
The seller was not disclosed.
The lands are adjacent to the company's liquid-rich Montney lands at South Gundy.
Development PlansThe 94-B-09 pad delivered seven of NEBC's highest-deliverability Montney wells between September and November 2019.
The Company is planning to bring a new nine-well pad on production in Q3 2020 from the acquired lands, with an estimated initial production rate of 15,000 boepd (gross) (65 mmcfpd, 5,000 bpd…
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