Tourmaline Oil, $51.51, symbol TOU on Toronto (Shares outstanding: 201.2 million; Market cap: $10.4 billion; www.tourmalineoil.com), has identified over 7,200 oil and natural gas drilling locations in Western Canada and has the funds for exploration. That should let it keep raising its production.
In the three months ended June 30, 2014, Tourmaline’s daily output averaged 109,953 barrels of oil equivalent, up 56.7% from 70,178 a year earlier. Cash flow per share jumped 66.2%, to $1.13 from $0.68, mostly due to the higher production and increased gas prices.
About 85% of Tourmaline’s output is natural gas. The company continues to benefit from higher gas prices, while its steadily rising production pushes up its share price.
The stock trades at 8.0 times this year’s forecast cash flow of $6.45 a share.
Tourmaline is okay for aggressive investors to hold.
hold.
…
Privacy Policy and Terms of Use
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