Tourmaline Completes Strategic Acquisition of Jupiter

About this update from Tourmaline Oil Corp.

[{"type":"text","content":"\n \n \n \n Tourmaline Completes Strategic Acquisition of Jupiter\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen7{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: BOTTOM; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prngen6{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.67em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.67em\n}\n.prngen4{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Dec. 18, 2020\n \n /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (\"Tourmaline\" or the \"Company\") is pleased to announce the completion of its previously announced acquisition of Jupiter Resources Inc. (\"Jupiter\") whereby it acquired all of the issued and outstanding shares of Jupiter for total consideration of approximately\n \n $630.0 million\n \n , comprised of 24.2 million Tourmaline common shares, and the assumption of net debt of approximately\n \n $200.0 million\n \n , inclusive of all transaction costs.\n \n \n \n \n \n \n \n \n \n The Jupiter acquisition, accretive on both a cash flow\n \n (1)\n \n and free cash flow\n \n (2)\n \n basis,  adds approximately 67,000 boepd of average production in the Alberta Deep Basin with strong overall liquid production, currently 20,000 bpd (condensate and NGLs), estimated 2P reserves\n \n (3)\n \n of 357...

More updates from Tourmaline Oil Corp.