Canadian Natural in Talks to Buy Tourmaline’s Natgas Portfolio, Globe and Mail Reports

(Reuters) – Canadian Natural Resources is in talks to buy a $1-billion-plus portfolio of natural gas properties from Tourmaline Oil Corp, Globe and Mail reported on Wednesday, citing two sources familiar with the negotiations.

The report said Canadian Natural filed the paperwork for federal Competition Bureau approval of a transaction with Tourmaline on December 30, but details of the potential deal had not been disclosed.

The Canadian oil and gas producer is seeking preliminary regulatory feedback on a potential acquisition of the Tourmaline assets, Globe and Mail added.

Canadian Natural and Tourmaline did not immediately respond to requests for comment.

Reporting by Vallari Srivastava in Bengaluru; Editing by Vijay Kishore

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