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