05:26 PM EDT, 09/30/2025 (MT Newswires) -- Topaz Energy ( TPZEF ) on Tuesday said it entered into an agreement with Tourmaline Oil (TOU.TO) to acquire, for $71.7 million, the royalty interests on approximately 134,000 gross acres of land in the Montney core royalty area in northeastern British Columbia (NEBC).

The purchase will be funded using the company's existing credit facilities and is subject to customary closing adjustments.

The acquired lands are 65% undeveloped land and include 410 tier-one future Montney drilling locations, offering multi-zone upside optionality and providing Topaz with full alignment to each of Tourmaline's future growth projects under its multi-year NEBC Montney build-out plan.

Shares of Topaz Energy ( TPZEF ) closed down $0.75 to $25.83 on the Toronto Stock Exchange.