M&A Deal Summary

Tourmaline Oil Acquires Crew Energy

On August 12, 2024, Tourmaline Oil acquired oil/gas exploration company Crew Energy for 1.3B USD

Acquisition Highlights
  • This is Tourmaline Oil’s 11th transaction in the Oil/Gas Exploration sector.
  • This is Tourmaline Oil’s largest (disclosed) transaction.
  • This is Tourmaline Oil’s 11th transaction in Canada.
  • This is Tourmaline Oil’s 10th transaction in Alberta.

M&A Deal Summary
Date 2024-08-12
Target Crew Energy
Sector Oil/Gas Exploration
Buyer(s) Tourmaline Oil
Deal Type Add-on Acquisition
Deal Value 1.3B USD

Target

Crew Energy

Calgary, Alberta, Canada
Crew Energy is a growth-oriented oil and natural gas producer, committed to the pursuit of sustainable per share growth through a balanced mix of financially responsible exploration and development, complemented by strategic acquisitions. Crew Energy was founded in 2003 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Tourmaline Oil

Calgary, Alberta, Canada
Category Company
Founded 2008
Sector Oil/Gas Exploration
Employees389
Revenue 6.2B CAD (2023)
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 11 of 11
Sector (Oil/Gas Exploration) 11 of 11
Type (Add-on Acquisition) 10 of 10
State (Alberta) 10 of 10
Country (Canada) 11 of 11
Year (2024) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-10 Rising Star

Calgary, Alberta, Canada

Rising Star is an oil and gas exploration service provider based in Calgary, Alberta.

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