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Topaz Energy Corp.

Company Summary

Description

New private royalty and infrastructure energy company formed by Tourmaline Energy Corp. 

Operational Regions

  • Western Canadian Sedimentary Basin

Related Entities

Recent news

  • 10/7/2021 - Topaz Energy Offering... (subscriber access)
  • 10/6/2021 - Whitecap Resources Signs... (subscriber access)
  • 7/19/2021 - Tourmaline Oil Completes... (subscriber access)
  • 3/9/2021 - Topaz Energy Enters Into... (subscriber access)
  • 10/15/2019 - Tourmaline Reports... (subscriber access)

Company Transactions

Date: 10/31/2021
Type: Acquisition

BUYERS:
  • Topaz Energy Corp.
    • SELLERS:
  • Whitecap Resources
    • DETAILS:

    COST: 188 $MM

    NOTES:
    Whitecap Resources has entered into an agreement with Topaz Energy Corp. to sell a 5% gross overriding royalty interest in their Weyburn CO2 unit for $188 million. Closing will occur in October 2021 and Whitecap retains a 65.3% working interest in the asset.

    Date: 7/19/2021
    Type: Acquisition

    BUYERS:
  • Topaz Energy Corp.
    • SELLERS:
  • Tourmaline Oil Corp
    • DETAILS:

    COST: 245 $MM

    NOTES:
    Tourmaline Oil has completed the sale of NEBC Montney gross overriding royalty interests (GORR) and infrastructure to Topaz, receiving $245 million in cash from the deal.
    REGIONS:
  • Montney Formation

    • Date: 7/19/2021
    Type: Acquisition

    BUYERS:
  • Topaz Energy Corp.
    • SELLERS:
  • Tourmaline Oil Corp
    • DETAILS:

    COST: 145 $MM

    NOTES:
    Tourmaline entered into a deal with Topaz to grant further GORR on the acquired Black Swan and Paramount Birch acreage for $145 million in cash.
    REGIONS:
  • Montney Formation

    • Date: 3/31/2021
    Type: Acquisition

    BUYERS:
  • Topaz Energy Corp.
    • SELLERS:
  • Tamarack Valley Energy Ltd.
    • DETAILS:

    COST: 13.7 $MM

    NOTES:
    Topaz Energy has signed a non-binding agreement with Tamarack Valley Energy to acquire a newly created gross overriding royalty interest for $13.7 million. The deal would include a 4% interest on mostly crude production across 45,000 net acres in the greater Clearwater area of Alberta. Tamarack would commit to a three-year development commitment, and Topaz would fund their stake with cash on hand.
    REGIONS:
  • Western Canadian Sedimentary Basin

    • Date: 11/15/2019
    Type: Acquisition

    BUYERS:
  • Topaz Energy Corp.
    • SELLERS:
  • Tourmaline Oil Corp
    • DETAILS:

    COST: 160 $MM

    NOTES:
    Tourmaline Oil reported the formation of Topaz Energy Corp., a new private royalty and infrastructure energy company. Tourmaline will sell to Topaz a royalty interest on Tourmaline land, a non-operated interest in two of Tourmaline's existing 19 natural gas processing plants, and a contracted interest in a portion of Tourmaline's current third-party revenue.
    REGIONS:
  • Western Canadian Sedimentary Basin