Edition:
United States

Tourmaline Oil Corp (TOU.TO)

TOU.TO on Toronto Stock Exchange

28.12CAD
21 Apr 2017
Change (% chg)

$0.18 (+0.64%)
Prev Close
$27.94
Open
$27.71
Day's High
$28.15
Day's Low
$27.58
Volume
519,327
Avg. Vol
793,312
52-wk High
$39.77
52-wk Low
$26.88

Latest Key Developments (Source: Significant Developments)

Tourmaline Oil Corp reports Q4 EPS c$0.24
Tuesday, 7 Mar 2017 05:00pm EST 

Tourmaline Oil Corp : Earns $59.6 million in Q4 2016 . Q4 earnings per share c$0.24 . Q4 2016 production averaged 191,814 boepd, a 13 pct increase over Q3 production and a 7 pct increase over Q4 of 2015 . Company expects average Q1 2017 production of between 230,000 and 235,000 BOEPD . Tourmaline has an additional 40 wells to bring on-stream during March . Company's operating costs for 2017 are forecast to average approximately $3.60/BOE . For 2017, management intends to continue matching capital budget to expected cash flow .Management believes company has sufficient resources to fund its 2017 exploration and development program.  Full Article

Tourmaline Oil Corp increases 2P reserves 64% in 2016 to reach 1.75 billion barrels of oil equivalent
Wednesday, 22 Feb 2017 05:00pm EST 

Tourmaline Oil Corp : Tourmaline Oil Corp increases 2P reserves 64% in 2016 to reach 1.75 billion barrels of oil equivalent . Tourmaline Oil Corp says current daily production is approximately 235,000 boepd . Tourmaline Oil Corp says expects average Q1 2017 production of between 230,000 and 235,000 boepd . Tourmaline Oil Corp says anticipated average annual production guidance for 2017 of 240,000-260,000 boepd . Tourmaline Oil Corp says in total, company expects to bring 75-80 new wells on-stream during q1 of 2017 . Tourmaline Oil Corp says 2016 annual production growth was 20% over 2015 .Tourmaline Oil Corp says company expects an exit 2017 debt-to-cash flow of approximately 1.0 times.  Full Article

Perpetual increases proved plus probable reserves value by 12 pct
Thursday, 9 Feb 2017 08:00am EST 

Perpetual Energy Inc : Perpetual increases proved plus probable reserves value by 12 pct and announces partial repayment and extension of financing arrangement . Perpetual Energy - announces partial repayment, refinancing of its financial arrangement previously secured by 840,619 of co's shares of Tourmaline Oil Corp .Perpetual Energy - sold Tourmaline Oil Corp shares for net proceeds of $5.7 million, reduced loan amount outstanding to $18.9 million, extended maturity to Aug 1, 2017.  Full Article

Tourmaline Oil Corp reports third quarter results and updates EP activities
Monday, 14 Nov 2016 05:00pm EST 

Tourmaline Oil Corp : Tourmaline Oil Corp reports third quarter results and updates EP activities . Tourmaline Oil Corp says has approved a $1.35 billion 2017 capital program, pro forma shell Canada acquisition . Tourmaline Oil Corp says expects to achieve 2016 exit production target of 210,000-215,000 boepd in late November . Tourmaline oil corp says pro forma shell Canada transaction, Tourmaline is expecting average production between 250,000 and 260,000 boepd in 2017 . Tourmaline Oil Corp says expecting a further 20-25% growth in production in 2018. . Tourmaline Oil Corp says qtrly natural gas production 895,256 mcf/d versus 786,910 mcf/d . Tourmaline Oil Corp says qtrly oil equivalent production 169,347 boe/d versus 150,297 boe/d . Tourmaline Oil says now expecting full-year 2017 average production of 225,000 boepd, up from 215,000 boepd previously, not including shell Canada deal . Tourmaline Oil Corp says qtrly earnings per share $0.10 .Tourmaline Oil Corp says qtrly crude oil and ngl production 20,138 bbl/d versus 19,146 bbl/d.  Full Article

Tourmaline Qtrly loss per share $0.34
Wednesday, 3 Aug 2016 05:00pm EDT 

Tourmaline Oil Corp : Tourmaline achieves strong first half growth with a cash flow budget . Qtrly revenue $247.1 million versus $298.7 million . Q2 2016 average production of 185,812 boepd represents a 29% increase over q2 2015 production of 143,634 boepd . Company remains on track for full-year 2016 average production of between 190,000 and 195,000 boepd . Current 2017 production guidance of 215,000 boepd is based on a 12-rig drilling program . Will expand 2017 drilling program should commodity prices generate incremental cash flow in excess of current 2017 forecast of $1.2 billion . Expects strong second half 2016 production growth with over 100 new wells across all 3 core complexes coming on-stream prior to year-end . Current 2017 production guidance of 215,000 boepd . Will expand 2017 drilling program should commodity prices generate incremental cash flow in excess of current 2017 forecast of $1.2 billion . Expects strong h2 2016 production growth with over 100 new wells across all three core complexes coming on-stream prior to year-end . Qtrly loss per share $0.34 .First half 2016 average production of 190,820 boepd, within fy guidance range of 190,000-195,000 boepd and 33% increase over 1h 2015.  Full Article

Tourmaline Oil Corp increases size of bought deal financing
Tuesday, 15 Mar 2016 09:21am EDT 

Tourmaline Oil Corp:Will now issue 9,000,000 common shares ("Common Shares") at a price of $27.11 per Common Share for gross proceeds of $243,990,000.Net proceeds of the Offering and the private placement will be used to temporarily reduce indebtedness, for general working capital purposes, and to fund potential acquisition opportunities.  Full Article

Tourmaline Oil Corp lowers FY 2015 production guidance
Wednesday, 14 Oct 2015 05:00pm EDT 

Tourmaline Oil Corp:Revises full year average 2015 production of between 155,000-160,000 boepd, down from original production guidance of 164,500 boepd.  Full Article

Tourmaline Oil Corp completes acquisition of Mapan Energy Ltd
Friday, 14 Aug 2015 04:20pm EDT 

Tourmaline Oil Corp:And Mapan Energy Ltd jointly announce the completion of Tourmaline's previously announced acquisition of all of the outstanding Mapan common shares pursuant to an arrangement.  Full Article

Tourmaline Oil Corp reaffirms FY 2015 production guidance
Wednesday, 5 Aug 2015 05:00pm EDT 

Tourmaline Oil Corp:Expects FY 2015 Average production of 164,500 boepd.  Full Article

Tourmaline Oil Corp to acquire Mapan Energy Ltd
Monday, 29 Jun 2015 08:00am EDT 

Tourmaline Oil Corp:To acquire Mapan Energy Ltd as it continues its deep basin consolidation and growth strategy.Says deal valued at C$106 million.Deal value comprised of the issuance of approximately 2.73 million Tourmaline common shares.Says Mapan transaction will be accretive to Tourmaline on a reserve and production basis.Says peters & co. limited is acting as exclusive financial advisor to Tourmaline with respect to the arrangement.  Full Article

More From Around the Web

BRIEF-Tourmaline Oil Corp reports Q4 EPS c$0.24

* Q4 2016 production averaged 191,814 boepd, a 13 pct increase over Q3 production and a 7 pct increase over Q4 of 2015