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Tourmaline Oil announces deal to buy Bonavista Energy worth $1.45 billion

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CALGARY — Tourmaline Oil Corp. announced an agreement Monday to buy Bonavista Energy Corp. in a deal worth $1.45 billion. Under the acquisition, Tourmaline...

CALGARY — Tourmaline Oil Corp. announced an agreement Monday to buy Bonavista Energy Corp. in a deal worth $1.45 billion.

"The Bonavista assets are a natural extension of Tourmaline's existing operations in the Deep Basin where the company is already the largest producer," Tourmaline said in a statement. Following closing of the deal, Tourmaline said it expects to exit 2023 with production of over 600,000 barrels of oil equivalent per day.

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