CALGARY, May 8, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release  financial and operating results for the first quarter of 2019.

HIGHLIGHTS

Q1 2019 production averaged 293,434 boepd, a 9% increase over Q1 2018 and a 6% increase over the prior quarter. March 2019 production averaged 301,336 boepd.

Q1 2019 cash flow(1) was $419.2 million ($1.54/fully-diluted share) compared to Q1 2019 capital spending of $384.4 million.

Q1 2019 net earnings were $87.7 million ($0.32/fully-diluted share).

The Company has decided to increase the quarterly cash dividend by 20%

… Continue Reading

CALGARY, March 5, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to announce very strong 2018 financial and operating results.

HIGHLIGHTS

Tourmaline delivered full-year 2018 earnings of $401.4 million ($1.48/diluted share) underscoring the inherent profitability of the core EP business.

Annual cash flow(1) for 2018 of $1.3 billion ($4.80/diluted share) which is 8% higher than 2017 cash flow of $1.2 billion ($4.47/diluted share).

Record Q4 2018 cash flow of $391.5 million ($1.44/diluted share) was 36% higher than cash flow for the third quarter of 2018 (

… Continue Reading

CALGARY, Feb. 20, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to report very strong total reserve growth, liquids reserve growth and a continued reserve value increase in the current depressed natural gas price environment.  The Company executed on the 2017-2018 plan to concentrate almost entirely on internal EP growth and has produced the best reserve metrics in the Company’s 10 year history over the past two years.

RESERVE HIGHLIGHTS

Proved plus probable reserves (“2P”) increased by 241.2 mmboe to 2.46 billion boe during 2018, an 11% increase over 2017 year-end reserves of 2.22

… Continue Reading

CALGARY, Jan. 15, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) 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 boepd. Tourmaline expects production levels above 300,000 boepd in late January when the Company’s volumes that flow to the Enbridge McMahon plant (approximately 4,500 boepd) come back on-stream

… Continue Reading

CALGARY, Dec. 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. 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 this news release are stated in Canadian dollars unless otherwise specified.

FORWARD-LOOKING INFORMATION

This news release … Continue Reading

CALGARY, Nov. 7, 2018 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) 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 reduced EP capital program of $1.30 billion.

Gundy BC Phase 1 deep cut plant start-up accelerated to Q2 2019.

Q3 2018 earnings of $55.3 million, continuing

… Continue Reading

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