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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. Tourm
Operator
Good morning, ladies and gentlemen, and welcome to the Enerplus first-quarter 2021 results conference call. [Operator instructions] This call is being recorded on Friday, May 7, 2021. I would now like to turn the conference over to Mr. Drew Mair.
Please go ahead.
Manager, Investor Relations
Thank you, operator, and good morning, everyone. Thank you for joining the call. Before we get started, please take note of the advisories located at the end of today s news release. Our financials have been prepared in accordance with U.S.
GAAP. All discussion of production volumes today are on a gross company working interest basis and all financial figures are in Canadian dollars unless otherwise specified. I m here this morning with Ian Dundas, our president and chief executive officer; Jodi Jenson Labrie, senior VP and chief financial officer; Wade Hutchings, senior VP and chief operating officer; Shaina Morihira, VP finance; and Garth Doll, VP marketing. Following our discussio
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Inside the Market’s roundup of some of today’s key analyst actions
ARC Resources Ltd.’s (ARX-T) $8.1-billion merger with
Seven Generations Energy Ltd. creates a “premier low-cost, Montney producer that should be able to recognize substantial cost savings going forward,” according to iA Capital Markets analyst Michael Charlton.
Following Tuesday’s close of the combination of Alberta-based producers, Mr. Charlton thinks ARC “has no shortage of runway ahead” with more than 1 million acres in the Montney Formation to develop as “the dominant condensate producer in Canada, the third-largest natural gas producer, and sixth-largest upstreamer.”
Tuesday s analyst upgrades and downgrades - The Globe and Mail theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.