Has your office / company laid people off or are you expecting layoffs? PART 8

[mr2mike]

Solid rumor that Tourmaline also acquired Modern

[killramos]

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Solid rumor that Tourmaline also acquired Modern

Can confirm that yes

Jupiter and Modern overlap nicely and tie into the north side of TOU’s deep basin infra.

Not bad metrics for dry gas.

[90_Shelby]

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Tourmaline to Acquire Jupiter.

Can’t imagine they keep many staff.

and Modern Resources.

[ExtraSlow]

Jupiter seemed like a cool company in rhe sense that I thought the projects were interesting. Still not sure how anyone makes money on methane, but I'm no PowerPoint engineer.

[killramos]

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Jupiter seemed like a cool company in rhe sense that I thought the projects were interesting. Still not sure how anyone makes money on methane, but I'm no PowerPoint engineer.

It’s borderline a more valuable commodity than most grades of crude right now lol

[vengie]

Any links to confirm? Or is this speculation? Re. Modern/Jupiter

[ExtraSlow]

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Any links to confirm? Or is this speculation? Re. Modern/Jupiter

https://www.tourmalineoil.com/investors/news-releases/

NORTH DEEP BASIN TRANSACTIONS
• Tourmaline announces two strategic corporate acquisitions, Modern and Jupiter, boosting full-year 2021
average annual production to approximately 400,000 boepd, an increase of 25% from prior 2021 guidance of
320,000 boepd.

[killramos]

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Any links to confirm? Or is this speculation? Re. Modern/Jupiter

It’s legit. https://boereport.com/2020/11/04/tou...r-526-million/

I’m not important enough to have inside information, I read the headlines like everyone else.

[90_Shelby]

No commitments to keep staff with this deal either. Although i’m sure Tourmaline will be looking to consider some staff as they continue to ramp up and grow.

[ExtraSlow]

Humans are a liability not an asset. Better to take none of them and post the jobs on indeed.

[killramos]

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Humans are a liability not an asset. Better to take none of them and post the jobs on indeed.

I hate to be cold but this is true, this isn’t a giant merger like Husky. It’s an asset transaction and employees who remain will be the exception rather than the rule.

[ExtraSlow]

I have been "acquired" in three different transactions, and while we all like to think we are unique and valuable and perhaps even irreplaceable, it just isn't true. Especially now in Canadian oil and gas. That may be cold, but it's truth.

[killramos]

Hearing a well known boutique IB in town had a cull last week, not that there were many remaining there to begin with. No business.

Shockingly I hear they are still maintaining the Calgary office. Surprised it isn’t just an answering machine at this point.

[Disoblige]

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Shockingly I hear they are still maintaining the Calgary office. Surprised it isn’t just an answering machine at this point.

That's the problem with pride and ego.

[flipstah]

What's 'IB' in this context?

[Buster]

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What's 'IB' in this context?

Irritable Bowel

[killramos]

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Irritable Bowel

Accurate

[Buster]

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What's 'IB' in this context?

Investment Bank.

[flipstah]

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Irritable Bowel

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Investment Bank.

Same same

[bigboom]

GMP/Stiffel FE have been in trouble for years. Like most, surprised they decided to retain the calgary office.