Canadian Natural Resources, Tourmaline File Deal Notice With Antitrust Regulator

Dow Jones
01/15

By Paul Vieira

OTTAWA-Canadian Natural Resources and Tourmaline Oil have notified Canada's antitrust watchdog of a transaction that might require regulatory approval.

The Competition Bureau received notice on Dec. 30 of a transaction involving the two Calgary, Alberta-based energy companies, according to the watchdog's web site. Under Canada's merger-review process, certain transactions between companies require notification to the bureau so its investigators can determine whether the deal may harm competition.

Representatives for Canadian Natural Resources and Tourmaline did not immediately respond to requests for comment. A spokesperson for the Competition Bureau was not immediately available to answer questions about the companies' filing.

In November, Tourmaline said it was exploring a sale of its Peace River High light oil-and-gas complex, adding a successful transaction could lower the company's operating costs and allow proceeds to be reinvested into higher-margin assets. The Toronto-based Globe and Mail newspaper reported that Canadian Natural Resources is in talks with Tourmaline regarding the Peace River High complex.

Tourmaline stock fell 1.2% in trading Wednesday in the Toronto stock market, while shares in Canadian Natural rose 4.4%.

 

Write to Paul Vieira at paul.vieira@wsj.com

 

(END) Dow Jones Newswires

January 14, 2026 17:26 ET (22:26 GMT)

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