[4] Tourmaline Oil grew rapidly by buying up very small producers and owners of mineral rights, and signing farmout agreements.

[15] The company quietly absorbed its acquisitions and brought new wells online in 2013, but in 2014 Tourmaline purchased Santonia Energy's Deep Basin assets for CAN$189.1 million.

[16] In November 2014, the company announced a major joint venture with Canadian Non-Operated Resources (CNOR), a subsidiary of Grafton Asset Management and other investment funds.

Mapan had purchased Duvernay Oil assets in the Deep Basin and Rocky Mountain Foothills from Shell Canada.

[20] The Mapan deal may have foreshadowed a major 2016 acquisition, in which Tourmaline purchased a large amount of non-core Shell Canada mineral assets for nearly CAN$1.04 billion.

[22] To raise additional capital and achieve what it believed was a more accurate valuation for its businesses, Tourmaline spun off a new company named Topaz Oil to a group of private investors.

The Modern Resources transaction gave Tourmaline additional assets in the Deep Basin as well as a natural gas processing plant.

The Jupiter Resources agreement added Deep Basin assets and interests in two natural gas processing plants.

[7] In July 2021, Tourmaline signed a deal with Cheniere Energy, an American liquified natural gas (LNG) exporter.

Under the agreement, Tourmaline will ship natural gas via pipeline to Cheniere's LNG plant in Corpus Christi, Texas, with shipments to begin in 2023.

[7] In October 2021, Tourmaline announced a major debt reduction plan and paid a CAN$223 million special dividend to shareholders.

[4] On October 1, 2013, a Tourmaline Oil crew was clearing land for a new pipeline near Spirit River, Alberta, when a backhoe operator uncovered a massive fossil tailbone.

[23] According to Brian Brake, executive director of the Philip J. Currie Dinosaur Museum, the remains were of a hadrosaur, and were one of the most complete fossil skeletons found in Canada in decades.