Tourmaline Oil Corp’s acquisition of Jupiter Resources rang in as the top merger/acquisition closed in 2020. The 67,000 barrels of oil equivalent per day (boepd) production accounts for just under half of the total 176,000 acquired boepd in 2020, as tracked by the BOE Report.
Cona Resources, Tourmaline Oil, and ConocoPhillips account for the three highest total closed deal values in 2020, having total deals of $740M, $660M, and $510M respectively. Tourmaline was involved in three separate acquisitions.
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Cenovus Energy’s acquisition of Husky closed on Jan. 4, 2021 and outranked all individual 2020 mergers and acquisitions. The acquisition totalled 275,000 boepd for $3.8B.