Oil and gas consolidation 2021

[msommers]

Oxy acquiring CrownRock for $12B USD

https://www.google.com/amp/s/www.for...test-deal/amp/

[phreezee]

Calgary-based Enerplus to be acquired by Chord Energy in $3.8B US deal

https://www.cbc.ca/news/canada/calga...cash-1.7122465

[schurchill39]

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Calgary-based Enerplus to be acquired by Chord Energy in $3.8B US deal

https://www.cbc.ca/news/canada/calga...cash-1.7122465

Interesting! Wasn't the rumor that Devon was the suitor?

[phreezee]

This makes more sense as all their operations were in the US and the VP of Operations was out of the Denver office.

[killramos]

$40MM USD of quoted G&A synergies. Effective immediately.

Wouldn’t want to be Canadian domiciled staff lol

[Impreza]

I heard there were layoffs at TC Energy last week. Any one know how many got cut?

Also, sounds like Enbridge is dropping the axe tomorrow.

[SkiBum5.0]

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I heard there were layoffs at TC Energy last week. Any one know how many got cut?

Also, sounds like Enbridge is dropping the axe tomorrow.

600 at Enbridge, unsure on numbers at TCE. They are re-orging to match US structure of regions I think.

[schurchill39]

Singapore backed Longrun Exploration gone tits up and owe more then $550M to vendors.

https://www.dobenergy.com/news/headl...oration-ltd-an

Looks like they were being sued last year too

https://kmsc.ca/class-action-lawsuit...erest-payment/

Oof.

[ExtraSlow]

You should follow payscore. They knew a while back.

Didn't we have a dude from LRE around here?

[SKR]

Looks like they weren't in it for the long run.

[ExtraSlow]

You should spread some around.....

[vengie]

Tourmaline buying Crew

https://calgaryherald.com/business/e...-base-dividend

[taemo]

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Tourmaline buying Crew

https://calgaryherald.com/business/e...-base-dividend

havent even finished consolidating Bonavista (IT) assets and now we have to work on this

[riander5]

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havent even finished consolidating Bonavista (IT) assets and now we have to work on this

And you gotta deal with all the people coming over after securing a 10-20 bagger on their stock and options over the last 4 years while you suckers only got a 5 bagger for being a top tier producer and not almost going broke!

[killramos]

Mike Rose gonna Mike Rose.

I’m just disappointed Topaz didn’t get a taste of this one.

[schurchill39]

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And you gotta deal with all the people coming over after securing a 10-20 bagger on their stock and options over the last 4 years while you suckers only got a 5 bagger for being a top tier producer and not almost going broke!

They didn't bring many people over from Bonavista. I can't see them bringing many from Crew

[ExtraSlow]

Employees are massively overrated. You want as few as possible in these transactions.

[SKR]

Crew is a company I got ran off of twice.

[killramos]

Tourmaline never hires anyone lol

[taemo]

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They didn't bring many people over from Bonavista. I can't see them bringing many from Crew

In the field, I would say more than 60% got hired.
From the office, probably 25% stayed with Tourmaline, some as employees, some as consultants.
Execs and managers jetted out, older folks could finally retire, rest left once they got their severance.

Not sure how big Crew is but my guess is 10-30 would be coming over, maybe during a transition phase