My latest Seeking Alpha article takes a quick look at Tourmaline's latest Montney acquisition:
Those acquisitions are likely to involve many of the currently independent Montney shale players operating in Northwestern Canada.
Last week the Canadian government put a stop to the Petronas acquisition of Montney producer Progress Energy (PRQNF.PK). But that hasn't cooled off the consolidation wave happening in the Montney as just two days later Tourmaline Oil (TRMLF.PK) announced that it had acquired private oil company Huron Oil.
Tourmaline will pay $258 million for 5,500 boe of current production, 46.2 million boe of 2P reserves and 108 sections of land in Northeastern British Columbia that will add to Tourmaline's Montney position.