Tourmaline Oil Corp. acquisition of Modern Resources Inc.

On Nov. 2, 2020, Tourmaline Oil Corp. (Tourmaline) completed its acquisition of all of the shares of Modern Resources Inc. for total consideration of approximately $144 million, consisting of $73.75 million cash and 1.5 million common shares, and the assumption of current net debt of approximately $44 million.

Burnet, Duckworth & Palmer LLP advised Tourmaline with a team including
Carolyn Wright (energy),
Gina Ross (employment),
Heather DiGregorio (tax),
Brittney LaBranche (competition),
Jon Ozirny (corporate),
Brendan Downey (energy);
Austin Fruson (corporate),
Leslie-Anne Bowyer (corporate),
Mike Henry (energy).

Norton Rose Fulbright Canada LLP advised Modern Resources Inc. with a team that included
Kirk Litvenenko,
Darren Hueppelsheuser,
Jennifer McPherson,
Katherine MacPhail.


Burnet, Duckworth & Palmer LLP Norton Rose Fulbright Canada LLP