Tourmaline Oil Corp. announced a private placement to issue senior unsecured notes for aggregate principal amount of CAD 250 million on May 28, 2024. The notes will be issued at par and will bear interest at a fixed rate of 4.856% per annum, payable semi-annually on the 30th day of November and May of each year, commencing on November 30, 2024.

The notes will mature on May 30, 2027. The notes, offered on a best-efforts basis and are expected to be issued on or about May 30, 2024, subject to customary closing conditions.