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☆ Tourmaline cements top position in Canada's Deep Basin with $1 billion Bonavista deal
▼ + stars: | 2023-10-16 | by ( Sourasis Bose | ) www.reuters.com time to read: +1 min

Oct 16 (Reuters) - Tourmaline Oil (TOU.TO) on Monday agreed to buy rival Bonavista Energy for C$1.45 billion ($1.06 billion) in cash and stock, strengthening its position in Western Canada's Deep Basin. The acquisition is expected to help Tourmaline, already the largest Deep Basin producer, exit 2023 with production of more than 600,000 barrels of oil equivalent per day. The offer consists of C$725 million in Tourmaline common shares and C$725 million in cash. Bonavista, a major oil and gas producer, delisted from the Toronto Stock Exchange in 2020 as part of a recapitalization plan. In September, Canadian natural gas firm Peyto Exploration & Development (PEY.TO) agreed to buy Spanish energy company Repsol's (REP.MC) Deep Basin assets for $468 million.

Persons: Tourmaline, Michael Harvey, Sourasis Bose, Shounak Dasgupta, Sriraj Organizations: Bonavista Energy, RBC Capital, Toronto Stock Exchange, Exploration, Development, Thomson Locations: Bonavista, Toronto, Bengaluru

To boost his profile, Zuberi also donated to, or hired, several Washington advocacy groups, lobbying shops and public relations firms. Those officials included Olson, former NATO supreme commander Gen. Wesley Clark and former acting director of U.S. Immigration and Customs Enforcement John Sandweg. The trio lobbied U.S. officials after returning from their Doha meeting with Qatari officials, the FBI said. He added that one of his greatest regrets was recruiting Allen into the effort because of the subsequent negative publicity. Allen has denied any wrongdoing but stepped down as president of the Brookings Institution, a prestigious Washington think tank, amid the FBI investigation.

Persons: —, Richard G, Olson, Obama, Imaad Zuberi, Judge G, Michael Harvey, Harvey, Prosecutors, Evan Turgeon, Turgeon, Zuberi, Harvey's, “, Joe Biden, Zubari, Wesley Clark, John Sandweg, John Allen, Allen, strategize, ___ Mustian Organizations: WASHINGTON, U.S, State, Prosecutors, FBI, Justice Department's, Press, NATO, . Immigration, Allen, Brookings Institution Locations: Persian, Afghanistan, Pakistan, Qatar, Zuberi, Washington, Doha, U.S, New York

☆ TipRanks reveals the top 10 Wall Street basic materials sector analysts
▼ + stars: | 2023-07-02 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

TipRanks recognized the 10 best analysts in the basic materials sector who delivered noteworthy returns and whose recommendations outperformed their peers. In the process, it analyzed every recommendation by analysts in the basic materials sector over the past 10 years. Then, TipRanks' algorithms calculated the statistical significance of each rating, analysts' overall success rate and the average return. Top 10 analysts from the basic materials sectorThe image below shows the most successful Wall Street analysts from the basic materials sector. T J Schultz — RBC CapitalT J Schultz has the 10th spot on the list, with a success rate of 63%.

Persons: Rafael Henrique, Lightrocket, TipRanks, Dan Payne, Bank Dan Payne, Payne, Leo Mariani — Roth MKM Leo Mariani, John Freeman — Raymond James Raymond James, John Freeman, Freeman, Poe Fratt, Global Partners Poe, Elvira Scotto —, Elvira Scotto, Vincent Lovaglio, Scott Hanold, Michael Harvey —, Michael Harvey, Harvey, Dalton Baretto, Canaccord Genuity Dalton Baretto, T J Schultz —, J Schultz Organizations: Bank, Birchcliff Energy, Resources, Vital Energy, Global Partners, Elvira Scotto — RBC, Crestwood Equity Partners, Mizuho Securities, Comstock Resources, RBC Capital RBC Capital, Matador Resources, Michael Harvey — RBC Capital, RBC Capital, Seven Generations Energy, Generations Energy, ARC Resources, T J Schultz — RBC, Targa Resources Locations: Canada

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