CALGARY, Sept. 5, 2018 /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$0.10 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 dividend” for Canadian income tax purposes.

Reader Advisories

CURRENCY

All amounts in this news … Continue Reading

CALGARY, Aug. 1, 2018 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the second quarter of 2018.

HIGHLIGHTS

Six month 2018 cash flow(1) of $624.5 million on EP capital spending of $464.3 million.

Net debt(2) reduced by $85.0 million in Q2 2018 from Q1 2018 (5% reduction). Tourmaline has reduced net debt by $198.6 million in the first six months of 2018.

Quarterly dividend will be increased by 11% to $0.10/common share for the third quarter of 2018.

1H 2018 production of 264,707 boepd, an increase

… Continue Reading

CALGARY, June 6, 2018 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) 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 (the “Meeting“).  All matters presented for approval at the Meeting, including the reduction in the stated capital of Company, were approved by Tourmaline’s shareholders. A full report of voting results is available on SEDAR at www.sedar.com

Election of Directors

On a vote by ballot, each of the … Continue Reading

CALGARY, May 8, 2018 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release strong financial and operating results for the first quarter of 2018.

HIGHLIGHTS

Q1 2018 cash flow(1) of $352.2 million ($1.30/diluted share) 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(2) of $136.1 million in the quarter.

Q1 2018 exit net debt(3) down 7% from previous quarter as a result of the $114.4 million in free cash flow after paying the dividend.

Q2

… Continue Reading

CALGARY, March 6, 2018 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) 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(1) by 65% to $1.2 billion ($4.47/diluted share).

Tourmaline delivered full-year 2017 earnings of $346.8 million ($1.29/diluted share) underscoring the inherent profitability of the core EP business.

Record low full-year 2017 operating costs of $3.19/boe.

Tourmaline realized 31% production growth in 2017 over 2016, with 2017 average production of 242,325 boepd – within original full

… Continue Reading

CALGARY, Feb. 28, 2018 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) 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. Total disposed proved-plus-probable reserves were 2.2 mmboe valued at $18.6 million (net present value at December 31, 2017 discounted at 10% – before tax). The

… Continue Reading

CALGARY, Feb. 14, 2018 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) 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(2) of $348.2 million exceeded Q4 capital spending of $332.7 million (excluding acquisitions) as the Company transitioned to a free cash flow(3) generation growth model.

HIGHLIGHTS

Proved plus probable

… Continue Reading

CALGARY, Jan. 10, 2018 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) 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 (oil, condensate, NGLs) grew by approximately 60% over Q4 2016, and liquids production is anticipated to grow to 70,000-75,000 bpd by Q4 2019, ahead of the current 2019 forecast. Tourmaline expects to be a top

… Continue Reading

CALGARY, Dec. 11, 2017 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) 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 2018 full-year average production of 270,000 boepd despite the stronger than anticipated exit volumes.

Total liquids production has now reached 47,000 bpd (oil,

… Continue Reading

CALGARY, Nov. 8, 2017 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release strong financial and operating results for the third quarter of 2017.

PRODUCTION UPDATE

Current production is ranging between approximately 255,000-265,000 boepd and the Company expects 2017 exit production of between 270,000-280,000 boepd, both ahead of original internal estimates.

The Company also currently has additional behind-pipe or shut-in volumes of approximately 25,000 boepd, which is expected to grow to 30,000 boepd by exit 2017.

Q3 average production was 236,905 boepd – a 40% increase over Q3 2016.

The Company elected to leave

… Continue Reading

CALGARY, Aug. 2, 2017 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release strong financial and operating results for the second quarter of 2017.

HIGHLIGHTS

Financial Results

Second quarter earnings were $108.6 million ($0.40/share) underscoring the fundamental profitability of Tourmaline’s EP business in all three core complexes.

Second quarter 2017 cash flow(1) was $ 313.3 million ($1.16/share) up 133% (100% per share) from second quarter 2016 cash flow of $134.3 million ($0.58/share).

Second quarter 2017 operating costs were $3.22/boe, down 6% from second quarter of 2016 and

… Continue Reading

CALGARY, July 4, 2017 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to provide an update on its EP activities.

The Company is currently operating 10 drilling rigs and will ramp to the full 18 rig fleet during the first half of July.  Frac operations are underway on 4 of the 8 pads drilled during spring break-up.  Approximately 175 new wells will be tied-in during the second half of 2017, across all three core complexes. 

Significant production curtailments on all three transportation systems utilized by the Company reduced June and quarterly average volumes from the … Continue Reading