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.

Reader Advisories

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

… Continue Reading

CALGARY, AB, Oct. 16, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to announce that it has entered into a definitive share purchase agreement with all of the shareholders of Bonavista Energy Corporation (“Bonavista“) to acquire all of the shares of Bonavista for $1.45 billion, consisting of $725 million in Tourmaline common shares and $725 million of cash, less Bonavista’s net debt(1)(2) at closing (the “Acquisition“).  The Acquisition is expected to close in the second half of November 2023, subject to customary regulatory and stock exchange approvals.

The Acquisition … Continue Reading

CALGARY, AB, Aug. 31, 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$0.26 per common share. The dividend will be payable on September 29, 2023 to shareholders of record at the close of business on September 15, 2023. 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 … Continue Reading

CALGARY, AB, Aug. 2, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to release financial and operating results for the second quarter of 2023 and declare a special dividend.

HIGHLIGHTS

Second quarter cash flow(1)(2) of $784.0 million ($2.28 per diluted share(3)).

Generated quarterly free cash flow(4) (“FCF“) of $545.5 million ($1.59 per diluted share) enabling the Company to declare a special dividend of $1.00 per common share to be paid on August 22, 2023 to holders of record on August 14, 2023. Tourmaline has distributed total dividends of $7.74 per

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CALGARY, AB, June 7, 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$0.26 per share. The dividend will be payable on June 30, 2023 to shareholders of record at the close of business on June 15, 2023. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.

ELECTION OF DIRECTORS

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

CALGARY, AB, May 10, 2023 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is providing an operations update in the wildfire-affected areas of Alberta.

Seven of Tourmaline’s nine facilities, previously shut-in due to the wildfires, have resumed operations and are operating at previous production rates.  The remaining two facilities, West Wolf and Columbia, are undamaged and ready to resume operations; both are awaiting final start-up clearance from the Ministry of Forestry.  Net production shut-in from these two facilities is approximately 16,000 boepd.  The Company expects the start-up of these two facilities to commence in the next … Continue Reading

CALGARY, AB, May 8, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) provides an update on operations impacted by Alberta wildfires.

Tourmaline staff and families have been safely evacuated from certain operated facilities and homes in the greater Edson area. The Company evacuated and shut down nine South and West Deep Basin gas processing facilities between the afternoon of Friday, May 5 and the afternoon of Saturday, May 6 as nearby fires expanded and new wildfires rapidly emerged.

Tourmaline is not aware of any damage to those facilities to date, and access to the sites … Continue Reading

CALGARY, AB, May 3, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the first quarter of 2023, announce an increase to its quarterly base dividend and declare a special dividend.

HIGHLIGHTS

First quarter cash flow(1)(2) of $1.13 billion ($3.28 per diluted share(3)).

Generated quarterly free cash flow(4) (“FCF”) of $525.4 million ($1.53 per diluted share) enabling the Company to declare a special dividend of $1.50 per common share to be paid on May 19, 2023 to holders of record on May 11, 2023.

… Continue Reading

Investment will establish a commercial fueling network for heavy-duty natural gas trucks across Western Canada

CALGARY, AB, April 18, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline“) and Clean Energy Fuels Corp. (NASDAQ: CLNE) (“Clean Energy“) announced today a $70 million Joint Development Agreement to build and operate a network of compressed natural gas (“CNG“) stations along key highway corridors across Western Canada. Through this 50-50 shared investment, Tourmaline and Clean Energy expect to construct and commission up to 20 CNG stations over the next five years, which will allow heavy-duty trucks and other commercial transportation fleets … Continue Reading

CALGARY, AB, Mar. 1, 2023 /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 2022, as well as 2022 reserves.

HIGHLIGHTS

Full-year 2022 cash flow(1) (“CF”) was a record $4.9 billion ($14.26 per diluted share(2)) up 67% over 2021. Fourth quarter 2022 CF was $1.4 billion ($4.08 per diluted share).

Tourmaline generated a record $3.2 billion of free cash flow(3) (“FCF”) in 2022.

Full-year 2022 after tax net earnings were $4.5 billion ($13.10 per diluted share).

Tourmaline paid

… Continue Reading