Black Swan Energy is a Calgary based private energy company with $850 million of committed equity capital, focused on early-entry Western Canadian resource plays. The company has a significant land position in the Montney play in northeast British Columbia and the Duvernay play in central Alberta, which are being actively developed.
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Tourmaline Oil Corp. has entered into a deal to acquire privately owned Black Swan Energy for $910 million (CAD$1.1 billion.) The deal includes 26 million common shares and the assumption of up to $350 million in net debt. Closing is targeted for July 2021.
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Black Swan Energy has entered into an agreement with AltaGas, whereby AltaGas will acquire a 50% stake in both current and future natural gas processing plants of Black Swan.