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The company has been on an acquisition spree, having completed the purchase of Black Swan Energy Ltd., and Paramount Resources Ltd.’s land assets in North Montney.
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Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million.
Tourmaline, named after the semi-precious stone, has also struck a long-term agreement with Cheniere Energy Inc., one of the largest liquefied natural gas producers in the U.S., to supply 140,000 mmbtu per day of natural gas to the company’s Corpus Christi liquefaction terminal in Texas for a 15-year term starting 2023. In 2019, Tourmaline spun out its royalty business Topaz Energy Corp., named after another gemstone, which listed on the Toronto Stock Exchange in a $230.5 million offering last year. Tourmaline still own just over a 50 per cent stake in Topaz.