CALGARY, AB, July 28, 2021 /CNW/ - Tourmaline Oil Corp. is pleased to release financial and operating results for the second quarter of 2021. HIGHLIGHTS Second quarter 2021 cash flow of $1.89 per diluted share, record free cash flow of $343.9 million, and average production of 410,339 boepd, exceeding the high end of expectations despite challenging operating conditions in June's heat wave. The updated five-year plan, at [...]
Tourmaline Oil Corp. is pleased to announce the closing of two strategic North Montney transactions, a North Montney GORR transaction with Topaz Energy Corp. and a significant long-term gas supply agreement with Cheniere Energy, Inc. . BLACK SWAN ENERGY CLOSING Tourmaline is pleased to announce the closing of its acquisition of Black Swan Energy Ltd. . Tourmaline will complete the ongoing Nig Creek plant expansion [...]
Tourmaline Oil Corp. is pleased to announce that it has entered into a definitive agreement to acquire privately owned Black Swan Energy Ltd. for a total consideration of approximately $1.1 billion Cdn, consisting of 26 million Tourmaline common shares and the assumption of net debt up to a maximum of $350 million, including all transaction costs. The transaction is expected to close in the second half of July 2021 [...]
Tourmaline Oil Corp. is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.16 per common share. The dividend will be payable on June 30, 2021 to shareholders of record at the close of business on June 15, 2021. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Tourmaline also announces that the nominees [...]
Tourmaline Oil Corp. is pleased to announce the completion of a further consolidation of NEBC Montney Assets and a guidance update. NORTH MONTNEY OVERVIEW Tourmaline continues to expand its position in the greater North Montney play area, a strategy that began in late 2016 with the acquisition of the initial Gundy property which is the current anchor of the Company's North Montney complex. With completion of the Gundy [...]
Tourmaline Oil Corp. is pleased to release financial and operating results for the first quarter of 2021. HIGHLIGHTS First quarter cash flow was a record $629.3 million . Tourmaline generated record free cash flow of $233.5 million in the first quarter of 2021, which was utilized to fund the dividend increase announced in the March 10, 2021 year-end press release and to reduce net debt by $153.1 million in the quarter [...]
Tourmaline Oil Corp. is pleased to release financial and operating results for the full year and fourth quarter of 2020 as well as 2020 reserves. HIGHLIGHTS Achieved record production in Q4 2020, exiting 2020 producing in excess of 400,000 boepd. Achieved a record 2P reserve addition of 826.0 mmboe in 2020 with finding, development and acquisition costs of $3.80/boe, including changes in future development capital [...]
Tourmaline Oil Corp. is pleased to announce that it has agreed to issue $250 million aggregate principal amount of senior unsecured notes due January 25, 2028 . The Notes will be issued at par for aggregate gross proceeds of $250 million and will bear interest at a fixed rate of 2.077% per annum, payable semi-annually on the 25th day of January and July of each year, commencing on July 25, 2021. Tourmaline believes this [...]
Tourmaline Oil Corp. is pleased to announce the completion of its previously announced acquisition of Jupiter Resources Inc. whereby it acquired all of the issued and outstanding shares of Jupiter for total consideration of approximately $630.0 million, comprised of 24.2 million Tourmaline common shares, and the assumption of net debt of approximately $200.0 million, inclusive of all transaction costs. The Jupiter [...]
Jupiter Resources Ltd. today announced a transaction to sell to Tourmaline Oil Corp. in an all-stock transaction valued at approximately $626 million, inclusive of debt. Pursuant to the transaction, for each common share Jupiter shareholders will receive approximately 0.2365 of a Tourmaline common share. In addition, as part of the transaction Jupiter will redeem the 13.00% second-priority senior secured cash/PIK notes [...]
Tourmaline Oil Corp. is pleased to release its operating and financial results for the third quarter of 2020. HIGHLIGHTS Two strategic corporate acquisitions, Modern Resources Inc. and Jupiter Resources Inc. , providing an additional 76,000 boepd of current production, significant accretive cash flow and free cash flow. Follow-on sale of a gross overriding royalty on the Modern and Jupiter lands to Topaz Energy Corp. for [...]
Tourmaline Oil Corp. is pleased to announce that on September 9, 2020 it has been assigned an issuer rating of BBB with a stable trend from DBRS Limited. This public investment grade credit rating helps validate the overall financial health of Tourmaline as a stable, low-risk, senior North American oil and gas producer. As the largest producer of natural gas in Canada with one of the lowest cost structures, the Company [...]
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