Tourmaline Oil Corp. (TSX:TOU) entered into a share purchase agreement to acquire Bonavista Energy Corporation for CAD 1.5 billion on October 16, 2023. The transaction was unanimously approved by board of directors of Tourmaline and Bonavista. The transaction is subject to customary regulatory and stock exchange approvals. The transaction is expected close in second half of 2023. Peters & Co., Limited acted as financial advisor to Tourmaline Oil Corp. Tudor, Pickering, Holt & Co., LLC acted as financial advisor to Bonavista Energy Corporation.

Tourmaline Oil Corp. (TSX:TOU) completed the acquisition of Bonavista Energy Corporation on November 17, 2023.