Tourmaline Oil to acquire Crew Energy for CAD1.3bn.

Tourmaline Oil, a Canadian energy company, agreed to acquire Crew Energy, a Canadian natural gas producer, for CAD1.3bn. "Dale and his team at Crew have done a tremendous job over the past 21 years assembling one of the premier, concentrated Montney asset bases in NEBC, with significant upside. Tourmaline's scale, execution capability and ability to generate strong FCF in all parts of the commodity cycle will allow Crew shareholders to realize the material embedded upside on an accelerated timeline," Mike Rose, Tourmaline President and CEO.