A: Tourmaline Oil, $19.95, symbol TOU on Toronto (Shares outstanding: 296.6 million; Market cap: $5.9 billion; www.tourmalineoil.com), is a Canadian oil and natural gas exploration, development, and production company. Its properties are concentrated in central Alberta and northeast B.C.
In the three months ended September 30, 2020, Tourmaline’s daily output averaged 298,202 barrels of oil equivalent (79% gas and 21% oil); that’s up 3.0% from 289,578 a year earlier. Cash flow per share climbed 25.6%, to $1.03 from $0.82. That’s due to the higher output as well as higher natural gas prices.
The company’s long-term debt of $1.6 billion is a manageable 27% of its market cap.
Tourmaline continues to grow by acquisitions. This included the recent purchase of Modern Resources Inc. for $144.0 million in November 2020, and Jupiter Resources for $630.0 million in December 2020.
The two acquisitions added about 76,000 barrels per day of production—or an increase of about 25%. The new assets also include considerable exploration acreage and reserves.
Tourmaline now plans…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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What personal information do we collect?
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
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