Tourmaline Oil Corp. is pleased to announce that it has entered into a definitive arrangement agreement with Crew Energy Inc. to acquire 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 $240 million, including all transaction costs, for total consideration of approximately $1.3 billion. The Acquisition is [...]
Tourmaline Oil Corp. 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 [...]
Tourmaline Oil Corp. 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 [...]
Tourmaline Oil Corp. 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 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 [...]
Tourmaline Oil Corp. 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 [...]
Tourmaline Oil Corp. 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 was $3.71 billion ). Fourth quarter 2023 CF was $918.0 million . Tourmaline generated $1.69 billion of free cash flow in 2023 [...]
Tourmaline Oil Corp. 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 [...]
Tourmaline Oil Corp. 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 Oil Corp. is pleased to announce the completion of its previously announced acquisition of Bonavista Energy Corp. for $1.45 billion, consisting of $725 million in Tourmaline common shares and $725 million of cash, less Bonavista's net debt. 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 [...]
Tourmaline Oil Corp. is pleased to release financial and operating results for the third quarter of 2023. HIGHLIGHTS Third quarter cash flow of $878.5 million ). Generated Q3 free cash flow of $332.3 million 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 since [...]
Tourmaline Oil Corp. is pleased to announce that it has entered into a definitive share purchase agreement with all of the shareholders of Bonavista Energy Corp. 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 at closing . The Acquisition is expected to close in the second half of November 2023, subject [...]
Tourmaline Oil Corp. 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 [...]
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