Tourmaline Oil acquires Mapan Energy
On June 29, 2015, Tourmaline Oil Corp. (Tourmaline) announced that it entered into an agreement with Mapan Energy Ltd. (Mapan) pursuant to which Tourmaline will acquire all of the issued and outstanding common shares of Mapan on the basis of 0.0379 of a Tourmaline common share for each Mapan common share, for an acquisition price of $105.98 million. The acquisition will be effected by statutory plan of arrangement.
The transaction was completed on August 14, 2015.
Mapan owns production, lands and P&NG rights in two areas of the Alberta and British Columbia Deep Basin.
Tourmaline is a Canadian intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.
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