News Summary

Tourmaline Oil Corp., based in Calgary, has announced the sale of its natural gas assets in northwestern Alberta for $765 million. The buyer, described as a ‘Canadian senior producer,’ was not identified. The Competition Bureau previously indicated no plans to challenge the transaction involving Tourmaline and Canadian Natural Resources Ltd. Tourmaline plans to allocate $500 million from the sale towards debt reduction and invest the remaining funds in expanding its infrastructure in northeast British Columbia over the next two years. Despite reporting a $655 million net loss in the fourth quarter of 2025, the company achieved record production levels during the same period.