M&A Deal Summary

Tourmaline Oil Acquires Shell Canada Energy - Oil & Gas Properties

On October 20, 2016, Tourmaline Oil acquired oil/gas exploration company Shell Canada Energy - Oil & Gas Properties from Royal Dutch Shell for 1.0B USD

Acquisition Highlights
  • This is Tourmaline Oil’s 5th transaction in the Oil/Gas Exploration sector.
  • This is Tourmaline Oil’s largest (disclosed) transaction.
  • This is Tourmaline Oil’s 5th transaction in Canada.
  • This is Tourmaline Oil’s 1st transaction in British Columbia.

M&A Deal Summary
Date 2016-10-20
Target Shell Canada Energy - Oil & Gas Properties
Sector Oil/Gas Exploration
Buyer(s) Tourmaline Oil
Sellers(s) Royal Dutch Shell
Deal Type Divestiture
Deal Value 1.0B USD

Target

Shell Canada Energy - Oil & Gas Properties

British Columbia, Canada
Shell Canada Energy - Oil & Gas Properties includes 61,000 net acres in the Gundy area of Northeast British Columbia, Canada, and 145,000 net acres in the Deep Basin area of West Central Alberta, Canada. The assets are a combination of developed and undeveloped lands, along with related infrastructure, producing 24,850 barrels of oil equivalent per day (boe/d) of dry gas and liquids.

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Buyer(S) 1

Buyer

Tourmaline Oil

Calgary, Alberta, Canada

website

Category Company
Founded 2008
Sector Oil/Gas Exploration
Employees296
Revenue 8.7B CAD (2022)
DESCRIPTION

Tourmaline Oil focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. Tourmaline Oil was founded in 2008 and is based in Calgary, Alberta.

DEAL STATS #
Overall 5 of 10
Sector (Oil/Gas Exploration) 5 of 10
Type (Divestiture) 1 of 1
State (British Columbia) 1 of 1
Country (Canada) 5 of 10
Year (2016) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-04 Santonia Energy

Calgary, Alberta, Canada

Santonia Energy (formerly Fairborne Energy) is a oil and gas exploration and production company operating primarily in Alberta and Western Canada.

Buy CA$189M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Chinook Energy

Calgary, Alberta, Canada

Chinook Energy is an oil and gas exploration and development company that combines high-quality gas-weighted assets in Western Canada with oil assets onshore and offshore Tunisia in North Africa. Chinook Energy was founded in 2003 and is based in Calgary, Canada.

Buy CA$24M

Seller(S) 1

SELLER

Royal Dutch Shell

London, United Kingdom

website

Category Company
Founded 1907
Sector Oil/Gas Exploration
Employees82,000
Revenue 261.5B USD (2021)
DESCRIPTION

Royal Dutch Shell is an Anglo–Dutch multinational oil and gas company. Royal Dutch Shell was founded in 1907 and is based in London, the United Kingdom.

DEAL STATS #
Overall 9 of 19
Sector (Oil/Gas Exploration) 4 of 13
Type (Divestiture) 9 of 19
State (British Columbia) 1 of 1
Country (Canada) 2 of 2
Year (2016) 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-07 Tongyi

Beijing, China

Tongyi is an oil-lubricants business serving markets and customers throughout China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-31 Royal Dutch Shell - UK North Sea Assets

United Kingdom

Royal Dutch Shell - UK North Sea Assets consists of Shell’s interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine, plus a 10% stake in Schiehallion. The package represents total production of some 115kboe/d (Shell share) in 2016. Shell’s total UK North Sea production during 2016 was around 211kboe/d.

Sell $3.8B
Mergr

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