Tourmaline Oil Corp. continued its expansion in Canada’s Montney shale play with an agreement on June 11 to buy privately owned Black Swan Energy Ltd. for CA $1.1 billion.

The announcement is a part of a larger trend in the Canadian energy sector, which has seen a flurry of mergers between oil and gas producers within the past year. This includes the recent acquisition of Seven Generations Energy Ltd. by ARC Resources Ltd. for CA$2.7 billion, which established ARC Resources as the Montney’s largest oil and gas producer.

The Black Swan merger, in particular, represents a further important component of Tourmaline’s own ongoing consolidation strategy in the North Montney, the company said in its release.

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Onshore