Tourmaline Oil Corp. is pleased to update 2019 guidance and ongoing EP activities. PRODUCTION UPDATE 2019 average production guidance of 300,000 boepd, representing 12% year-over-year growth, remains unchanged. A 1H 2019 average production range of 290,000-300,000 boepd and a 2H 2019 average production range of 310,000-320,000 boepd are forecast. Current production is within the 1H 2019 guidance range of 290,000-300,000 [...]
Tourmaline Oil Corp. is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.10 per common share. The dividend will be payable December 28, 2018 to shareholders of record at the close of business on December 14, 2018. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Reader Advisories CURRENCY All amounts in [...]
CALGARY, Nov. 7, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to release financial and operating results for the third quarter of 2018. HIGHLIGHTS 2018 exit production estimate increased from 290,000 to 300,000 boepd driven primarily by stronger than forecast well performance. Q3 2018 average production was 254,185 boepd, up 7% from Q3 2017. 2019 average production forecast increased from 291,000 to 300,000 boepd on a [...]
Tourmaline Oil Corp. is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.10 per common share, representing an 11% increase to the Q2 2018 dividend of C$0.09 per common share. The dividend will be payable September 28, 2018 to shareholders of record at the close of business on September 14, 2018. This quarterly cash dividend is designated as an "eligible [...]
CALGARY, Aug. 1, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to release financial and operating results for the second quarter of 2018. HIGHLIGHTS Six month 2018 cash flow of $624.5 million on EP capital spending of $464.3 million. Net debt reduced by $85.0 million in Q2 2018 from Q1 2018 . Tourmaline has reduced net debt by $198.6 million in the first six months of 2018. Quarterly dividend will be increased by 11% to [...]
CALGARY, June 6, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to announce that the nominees listed in its information circular dated April 20, 2018 were elected as directors of Tourmaline at its annual and special meeting of shareholders on June 6, 2018 in Calgary, Alberta . All matters presented for approval at the Meeting, including the reduction in the stated capital of Company, were approved by Tourmaline's [...]
CALGARY, May 8, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to release strong financial and operating results for the first quarter of 2018. HIGHLIGHTS Q1 2018 cash flow of $352.2 million on EP capital spending of $280.2 million. As previously announced, the Company disposed of non-core assets for proceeds of $71.2 million. Free cash flow of $136.1 million in the quarter. Q1 2018 exit net debt down 7% from previous [...]
CALGARY, March 6, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to announce very strong 2017 financial and operating results as well as payment of the Company's first dividend. HIGHLIGHTS Tourmaline grew 2017 cash flow by 65% to $1.2 billion . Tourmaline delivered full-year 2017 earnings of $346.8 million underscoring the inherent profitability of the core EP business. Record low full-year 2017 operating costs of [...]
CALGARY, Feb. 28, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to provide details of minor asset sales and a Peace River High update. ASSET SALES Tourmaline is pleased to announce that it has completed the sale of a series of primarily undeveloped assets across all three core-operated areas during the first quarter of 2018. Total proceeds of approximately $72.0 million were received with no impact on current production [...]
CALGARY, Feb. 14, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to report very strong total reserve growth, liquids reserve growth and a significant reserve value increase in the current declining natural gas price environment. The Company executed on the 2017 plan to concentrate almost entirely on internal EP growth and has produced the best reserve metrics in Company history. In addition, Q4 2017 cash flow of $348.2 [...]
CALGARY, Jan. 10, 2018 /CNW/ - Tourmaline Oil Corp. is pleased to provide a market update. PRODUCTION UPDATE Tourmaline achieved the 2017 exit target of 270,000-280,000 boepd, averaging approximately 274,000 boepd in December. The Company achieved year-over-year production growth of 30% in 2017, also on target. Q4 2017 average production was approximately 263,000 boepd. Total Q4 2017 liquids production grew by [...]
CALGARY, Dec. 11, 2017 /CNW/ - Tourmaline Oil Corp. is pleased to provide an update on 2017 exit production and EP results. PRODUCTION UPDATE Tourmaline achieved its 2017 exit production target of 270,000 boepd on December 1. Current production is 277,000 boepd; further EP activities in December are expected to grow production to levels in excess of 280,000 boepd by the end of the month. The Company continues to forecast [...]
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