Todd sells Canadian gas assets for C$300m

Todd Corp's NZ oil and gas assets are in decline. (Image: Supplied)

Wed, 13 Nov 2024

Todd Corp is selling its Canadian oil and gas interests for C$300 million (NZ$363m) in the latest move by the family-owned business empire to refocus on New Zealand.The transaction was announced by the buyer, Tourmaline Oil Corp, a large-scale Canadian oil and gas producer.Todd Energy Canada had been in a 50/50 joint venture with Toronto Stock Exchange-listed Tourmaline since 2021 producing shale gas in the Brent region of the Montney gas fields of Alberta. Montney has been described as a globally significant resource with another 35 years...

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