The Globe and Mail reports in its Tuesday edition that consolidation in Canada's energy sector has advanced with Tourmaline Oil buying Bonavista Energy for $1.45-billion to bolster its position in the Deep basin region of western Alberta. The Globe's Jameson Berkow writes that the half-cash-half-stock transaction will boost production at Tourmaline -- already the country's largest natural gas producer -- by 10 per cent and is expected to add $450-million in annual net operating income for the next three years. Tourmaline will also acquire Bonavista's $1.7-billion worth of tax pools, which can be applied as deductions in future tax years. Alongside the acquisition, Tourmaline also announced plans to raise its dividend for the 10th time since instituting quarterly payouts in 2018, to 28 cents a share. Tourmaline shareholders will also receive a special dividend of $1 per share on Nov. 1, which will mark the ninth consecutive quarter where the company offered an extra payout. The Bonavista deal is the latest example of an accelerating trend of consolidation among oil and gas producers across North America. Bonavista delisted from the Toronto Stock Exchange in late 2020, with shareholders receiving only five cents a share.