09:30 PM EST, 01/15/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Tourmaline (TOU) is in advanced talks to sell natural gas assets valued at CAD1B to Canadian Natural Resources (CNQ). The assets are likely the Peace River High complex that TOU's management referenced for potential disposition during their recent earnings call. The rationale is to enable more advantageous capex allocation, as Peace River High would require maintenance capex for four to five years with limited growth prospects. TOU's management indicated this would optimize capital deployment toward higher-return opportunities. CNQ views the acquisition favorably due to scale benefits and synergy potential from their adjacent asset holdings. Neither company has provided public commentary on the transaction specifics. Regulatory approval remains a prerequisite before the deal can be finalized. This disposition aligns with TOU's capital efficiency strategy, potentially freeing up resources for higher-growth initiatives while CNQ gains operational synergies.