Canadian Natural Resources Limited (CNQ.US) intends to spend over 1 billion US dollars to acquire Tourmaline's core natural gas assets.

According to Wednesday's reports, Canadian Natural Resources Limited (CNQ.US) is in negotiations for the acquisition of Tourmaline Oil's natural gas assets in Alberta, valued at over $1 billion. As Canada's largest shale oil producer, Canadian Natural Resources Limited submitted federal approval documents related to the transaction with Tourmaline to the Competition Bureau of Canada on December 30, 2025. However, as of that time, specific details of the potential deal have not been disclosed to the public. Reports indicate that Canadian Natural Resources Limited is seeking preliminary feedback from regulatory authorities regarding the potential acquisition of assets. The assets targeted for acquisition are located in the Montney Basin in Alberta and the Peace River region, which were listed for sale by Tourmaline in November 2025, with Canadian Natural Resources Limited subsequently announcing its intention to acquire them. Tourmaline is a highly influential natural gas producer in the Montney Basin shale gas region of Canada and holds a significant position in the area. The Montney Basin serves as an important natural gas producing region in Canada, with a daily gas production of approximately 10 billion cubic feet, accounting for half of Canada's national gas production. Tourmaline has a wide business presence in the Peace River region, with 2428 horizontal wells, 34 gas processing plants, and a pipeline network of 15,500 kilometers. With the opening of the British Columbia liquefied natural gas export terminal last year, the market's interest in the Montney Basin has significantly increased. Leveraging its prominent advantages, the basin provides one of the economically beneficial natural gas production models for Canada.