CALGARY, AB, Oct. 1, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to announce that it has closed the acquisition of Crew Energy Inc. (“Crew”), pursuant to which the Company acquired all of the issued and outstanding common shares of Crew in exchange for 18.778 million Tourmaline common shares and the assumption of net debt of approximately $230 million, including all transaction costs, for total consideration of approximately $1.4 billion(1) (the “Crew Acquisition”).

The Crew Acquisition represents a further important component of the Company’s continuing NEBC consolidation strategy that complements the … Continue Reading

CALGARY, AB, Sept. 3, 2024 /CNW/ – Tourmaline Oil Corp. (TSXL TOU) (“Tourmaline” or the “Company“) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.35 per common share. The dividend will be payable on September 27, 2024 to shareholders of record at the close of business on September 13, 2024. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.

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CURRENCY

All amounts in this news release are stated in Canadian dollars unless otherwise specified.

FORWARD-LOOKING INFORMATION

This news … Continue Reading

CALGARY, AB, Aug. 12, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to announce that it has entered into a definitive arrangement agreement with Crew Energy Inc. (“Crew“) to acquire all of the issued and outstanding common shares of Crew(1) (the “Acquisition” or the “Arrangement“) in exchange for 18.778 million Tourmaline common shares and the assumption of net debt of approximately $240 million, including all transaction costs, for total consideration of approximately $1.3 billion(2). The Acquisition is expected to close in early October 2024, subject to customary closing conditions.

The … Continue Reading

CALGARY, AB, July 31, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to release financial and operating results for the second quarter of 2024, announce an increase to its quarterly base dividend and declare a special dividend.

HIGHLIGHTS

Second quarter average production was 561,787 boepd, a 13% increase over second quarter 2023 average production of 495,918 boepd and within the second quarter 2024 average production guidance range of 560,000-570,000 boepd, announced on May 1, 2024.

Second quarter cash flow(1)(2) (“CF“) of $755.1 million ($2.12 per diluted share(3)) on total cash capital

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CALGARY, AB, June 5, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.32 per share. The dividend will be payable on June 28, 2024 to shareholders of record at the close of business on June 14, 2024. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.

ELECTION OF DIRECTORS

Tourmaline also announces that the following nine individuals proposed by management were elected as directors of Tourmaline at its annual … Continue Reading

CALGARY, AB, May 28, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to announce that it has agreed to issue $250 million aggregate principal amount of senior unsecured notes due May 30, 2027 (the “Notes“). The Notes will be issued at par for aggregate gross proceeds of $250 million 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 .

Tourmaline continues its strategy of diversifying its sources of low-cost capital and continuing … Continue Reading

CALGARY, AB, May 1, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the first quarter of 2024, announce an increase to its quarterly base dividend and declare a special dividend.

HIGHLIGHTS

First quarter 2024 average production was 592,077 boepd, a 13% increase over first quarter 2023 average production of 525,916 boepd and within the 590,000 – 595,000 boepd first quarter 2024 range announced on March 6, 2024.

First quarter cash flow(1) (“CF”) was $871.1 million ($2.45 per diluted share(2)) on total capital expenditures(3) of

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CALGARY, AB, March 6, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the full year and fourth quarter of 2023, announce an increase in both 2023 reserves and the quarterly base dividend, as well as declare a special dividend and a quarterly dividend.

HIGHLIGHTS

Full-year 2023 cash flow(1) (“CF”) was $3.71 billion ($10.73 per diluted share(2)). Fourth quarter 2023 CF was $918.0 million ($2.62 per diluted share).

Tourmaline generated $1.69 billion of free cash flow(3) (“FCF”) in 2023 (2022 – $3.21 billion).

Full

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CALGARY, AB, Jan. 15, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to provide an EP activity update and to announce two additional LNG agreements.

EP ACTIVITY UPDATE

Tourmaline exited 2023 with average daily production in excess of 600,000 boepd including over 150,000 bbls/d of average liquids production and has continued at these production levels in January.  The Company is operating all 16 drilling rigs as planned in the Q1 2024 EP program and the planned 2024 capital program has minimal associated facility expenditures.  Similar to 2023, Tourmaline plans to maximize free cash … Continue Reading

CALGARY, AB, Dec. 1, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.28 per common share. The dividend will be payable on December 29, 2023 to shareholders of record at the close of business on December 15, 2023. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.

Management Update

As part of Tourmaline’s planned leadership succession process, Mr. Earl McKinnon has been appointed Chief Operating Officer of the … Continue Reading

CALGARY, AB, Nov. 17, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to announce the completion of its previously announced acquisition of Bonavista Energy Corporation for $1.45 billion, consisting of $725 million in Tourmaline common shares and $725 million of cash, less Bonavista’s net debt(1). The Company expects exit 2023 production of over 600,000 boepd, including the acquired Bonavista volumes.

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Currency

All amounts in this news release are stated in Canadian dollars unless otherwise specified.

Forward-Looking Information

This news release contains forward-looking information and statements (collectively, “forward-looking information”) within the … Continue Reading

CALGARY, AB, Nov. 1, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to release financial and operating results for the third quarter of 2023.

HIGHLIGHTS

Third quarter cash flow(1)(2) of $878.5 million ($2.55 per diluted share(3)).

Generated Q3 free cash flow(4) (“FCF“) of $332.3 million ($0.96 per diluted share) enabling the Company to declare a special dividend of $1.00 per common share paid on November 1, 2023 to holders of record on October 24, 2023. Tourmaline has distributed total dividends of $6.52 per share (inclusive of this November 1, 2023

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