Latest news with #TourmalineOilCorp
Cision Canada
06-08-2025
- Business
- Cision Canada
TOURMALINE ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
CALGARY, AB, Aug. 6, 2025 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (" Tourmaline" or the " Company") is pleased to announce that the Toronto Stock Exchange (the " TSX") has approved the renewal of Tourmaline's normal course issuer bid (the " NCIB"). The NCIB allows Tourmaline to purchase up to 19,342,343 common shares (representing 5% of its issued and outstanding common shares as of July 31, 2025) over a period of twelve months commencing on August 8, 2025. The NCIB will expire on August 7, 2026. Under the NCIB, common shares may be repurchased in open market transactions on the TSX and other alternative trading platforms in Canada and in accordance with the rules of the TSX governing NCIBs. The total number of common shares Tourmaline is permitted to purchase is subject to a daily purchase limit of 563,429 common shares, representing 25% of the average daily trading volume of 2,253,717 common shares on the TSX calculated for the six-month period ended July 31, 2025; however, Tourmaline may make one block purchase per calendar week which exceeds the daily repurchase restrictions. Any common shares that are purchased under the NCIB will be cancelled upon their purchase by Tourmaline. Under its most recent normal course issuer bid, Tourmaline obtained approval to purchase up to 17,621,578 of its common shares, of which Tourmaline purchased no common shares. Tourmaline believes that at times, the prevailing share price does not reflect the underlying value of the common shares and the re-purchase of its common shares for cancellation represents an attractive opportunity to enhance Tourmaline's per share metrics and thereby increase the underlying value of its common shares to its shareholders. Tourmaline will use the NCIB as another tool to enhance total long-term shareholder returns and it will be used in conjunction with management's disciplined free cash flow capital allocation strategy. FORWARD-LOOKING INFORMATION This news release contains forward-looking information and statements (collectively, "forward-looking information") within the meaning of applicable securities laws. The use of any of the words "forecast", "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "on track", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information. More particularly and without limitation, this news release contains forward-looking information concerning Tourmaline's plans and other aspects of its anticipated future strategies relating to the intended use and anticipated benefits of the NCIB, including the belief that the re-purchase of common shares represents an attractive opportunity to enhance Tourmaline's per share metrics and increase their underlying value, the expectation that the NCIB will enhance total long-term shareholder returns and the expectation that the NCIB will be used as part of its cash flow capital allocation strategy. Although Tourmaline believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Tourmaline can give no assurances that it will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Additional information on these and other factors that could affect Tourmaline, or its operations or financial results, are included in the Company's most recently filed Management's Discussion and Analysis (See "Forward-Looking Statements" therein), Annual Information Form (See "Risk Factors" and "Forward-Looking Statements" therein) and other reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR+ website ( or Tourmaline's website ( The forward-looking information contained in this news release is made as of the date hereof and Tourmaline undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless expressly required by applicable securities laws. ABOUT TOURMALINE OIL CORP. Tourmaline is Canada's largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies. SOURCE Tourmaline Oil Corp. FOR FURTHER INFORMATION, PLEASE CONTACT: Tourmaline Oil Corp., Michael Rose, Chairman, President and Chief Executive Officer, (403) 266-5992 OR Tourmaline Oil Corp., Brian Robinson, Chief Financial Officer, (403) 767-3587, [email protected] OR Tourmaline Oil Corp., Scott Kirker, Chief Legal Officer and External Affairs, (403) 767-3593, [email protected] OR Tourmaline Oil Corp., Jamie Heard, Vice President, Capital Markets, (403) 767-5942, [email protected] OR Tourmaline Oil Corp., Suite 2900, 250 - 6th Avenue S.W., Calgary, Alberta T2P 3H7, Phone: (403) 266-5992, Facsimile: (403) 266-5952, E-mail: [email protected]
Yahoo
02-08-2025
- Business
- Yahoo
Natural gas prices have collapsed in Western Canada, but producers are ramping up spending
Two of the country's largest natural gas producers announced new or accelerated growth plans this week — betting better days are head for the sector despite Western Canadian gas prices that are currently 'well below' the cost of supplying the fuel to markets. Tourmaline Oil Corp., Canada's largest natural gas producer, announced plans this week to grow production 30 per cent by 2031 — echoing predictions from TC Energy Corp. and others that demand for natural gas across North America will accelerate in the next decade. Still, natural gas prices in Western Canada are currently hovering near 40-year lows. 'We will be a materially larger, more profitable company right about the time that we expect the continent to be getting short on resource,' Tourmaline chief executive Mike Rose said Wednesday, outlining plans for an initial $350 million spend in northeastern British Columbia's Montney shale gas region. 'We can slow down if prices aren't cooperating, or we can accelerate if prices are ahead of what we're expecting,' Rose said, adding, 'That doesn't seem to happen very often.' The company also announced a new eight-year supply deal with German energy firm Uniper SE on Wednesday that will provide 80,000 million British thermal units per day (MMBtu/d) of natural gas to export terminals on the U.S. Gulf Coast beginning in November 2028. Tourmaline said it aims to increase production to to 850,000 barrels of oil equivalent per day (boe/d) by 2031, up from roughly around 629,265 boe/d in the first half of this year, with new gas plants and transportation infrastructure. Rival gas producer ARC Resources Ltd. said it is raising its capital spend for the year, closing an acquisition from Strathcona Resources Ltd. and accelerating growth plans for its Attachie project in northeastern B.C. Despite its optimistic outlook for growth, the company said it has elected to shut-in all of its dry gas production for the moment, amounting to approximately 60,000 boe/d, until prices recover. Rock bottom prices Prices are currently 'well below' the cost of extracting, processing and transporting gas to market, ARC chief financial officer Kris Bibby said on an earnings call Friday. 'We just refuse to waste the resource when we don't have to wait that long to make a better rate of return on those assets,' Bibby said, noting the company expects prices in Western Canada will improve later this year and through 2026 as LNG Canada continues to ramp up to full capacity at its shipping terminal on the B.C. coast. A perennial mismatch of supply and pipeline takeaway capacity from the Western Canada Sedimentary Basin (WCSB) is worse than usual, industry says. Maintenance on different portions of TC Energy's critical NGTL pipeline network this summer has congested gas flows, creating a supply glut in the region that has cratered prices. The cash price for the Alberta benchmark, known as AECO, averaged just $0.76 per gigajoule (GJ) or $0.55 per million British thermal units (MMBtu) in July, according to data from RBN Energy. That's the fourth lowest monthly average price since 1985 when Ottawa first deregulated natural gas prices. mpotkins@ Despite pipeline hopes, Enbridge, TC Energy see strong demand in U.S., hurdles in Canada Canada's first large-scale shipment of LNG delivered to port in South Korea Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Tourmaline Oil Corp. (TSE:TOU) Looks Interesting, And It's About To Pay A Dividend
Tourmaline Oil Corp. (TSE:TOU) is about to trade ex-dividend in the next 4 days. The ex-dividend date is usually set to be two business days before the record date, which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade can take two business days or more to settle. Therefore, if you purchase Tourmaline Oil's shares on or after the 16th of June, you won't be eligible to receive the dividend, when it is paid on the 30th of June. The company's next dividend payment will be CA$0.50 per share, and in the last 12 months, the company paid a total of CA$3.85 per share. Last year's total dividend payments show that Tourmaline Oil has a trailing yield of 6.0% on the current share price of CA$63.81. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. So we need to check whether the dividend payments are covered, and if earnings are growing. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. Fortunately Tourmaline Oil's payout ratio is modest, at just 45% of profit. Yet cash flow is typically more important than profit for assessing dividend sustainability, so we should always check if the company generated enough cash to afford its dividend. Over the last year, it paid out more than three-quarters (85%) of its free cash flow generated, which is fairly high and may be starting to limit reinvestment in the business. It's positive to see that Tourmaline Oil's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. View our latest analysis for Tourmaline Oil Click here to see the company's payout ratio, plus analyst estimates of its future dividends. Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If earnings fall far enough, the company could be forced to cut its dividend. That's why it's comforting to see Tourmaline Oil's earnings have been skyrocketing, up 23% per annum for the past five years. The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Since the start of our data, seven years ago, Tourmaline Oil has lifted its dividend by approximately 43% a year on average. Both per-share earnings and dividends have both been growing rapidly in recent times, which is great to see. Is Tourmaline Oil an attractive dividend stock, or better left on the shelf? From a dividend perspective, we're encouraged to see that earnings per share have been growing, the company is paying out less than half of its earnings, and a bit over half its free cash flow. Overall we think this is an attractive combination and worthy of further research. While it's tempting to invest in Tourmaline Oil for the dividends alone, you should always be mindful of the risks involved. Every company has risks, and we've spotted 2 warning signs for Tourmaline Oil you should know about. A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-03-2025
- Business
- Yahoo
Just Three Days Till Tourmaline Oil Corp. (TSE:TOU) Will Be Trading Ex-Dividend
Readers hoping to buy Tourmaline Oil Corp. (TSE:TOU) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. The ex-dividend date generally occurs two days before the record date, which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade can take two business days or more to settle. Meaning, you will need to purchase Tourmaline Oil's shares before the 13th of March to receive the dividend, which will be paid on the 25th of March. The company's next dividend payment will be CA$0.35 per share. Last year, in total, the company distributed CA$3.90 to shareholders. Based on the last year's worth of payments, Tourmaline Oil has a trailing yield of 6.0% on the current stock price of CA$63.69. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! So we need to check whether the dividend payments are covered, and if earnings are growing. See our latest analysis for Tourmaline Oil If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. That's why it's good to see Tourmaline Oil paying out a modest 37% of its earnings. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. The company paid out 100% of its free cash flow over the last year, which we think is outside the ideal range for most businesses. Companies usually need cash more than they need earnings - expenses don't pay themselves - so it's not great to see it paying out so much of its cash flow. While Tourmaline Oil's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Cash is king, as they say, and were Tourmaline Oil to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign. Click here to see the company's payout ratio, plus analyst estimates of its future dividends. Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. That's why it's comforting to see Tourmaline Oil's earnings have been skyrocketing, up 23% per annum for the past five years. Earnings have been growing quickly, but we're concerned dividend payments consumed most of the company's cash flow over the past year. Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Tourmaline Oil has delivered an average of 43% per year annual increase in its dividend, based on the past seven years of dividend payments. Both per-share earnings and dividends have both been growing rapidly in recent times, which is great to see. Has Tourmaline Oil got what it takes to maintain its dividend payments? We're glad to see the company has been improving its earnings per share while also paying out a low percentage of income. However, it's not great to see it paying out what we see as an uncomfortably high percentage of its cash flow. In summary, it's hard to get excited about Tourmaline Oil from a dividend perspective. In light of that, while Tourmaline Oil has an appealing dividend, it's worth knowing the risks involved with this stock. For example - Tourmaline Oil has 1 warning sign we think you should be aware of. Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
08-03-2025
- Business
- Yahoo
Revenue Miss: Tourmaline Oil Corp. Fell 12% Short Of Analyst Revenue Estimates And Analysts Have Been Revising Their Models
Last week, you might have seen that Tourmaline Oil Corp. (TSE:TOU) released its full-year result to the market. The early response was not positive, with shares down 4.6% to CA$63.69 in the past week. Revenues were CA$4.8b, 12% below analyst expectations, although losses didn't appear to worsen significantly, with a statutory per-share loss of CA$3.51 being in line with what the analysts anticipated. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year. See our latest analysis for Tourmaline Oil Following the latest results, Tourmaline Oil's six analysts are now forecasting revenues of CA$7.64b in 2025. This would be a major 58% improvement in revenue compared to the last 12 months. Per-share earnings are expected to leap 88% to CA$6.37. Before this earnings report, the analysts had been forecasting revenues of CA$7.52b and earnings per share (EPS) of CA$6.43 in 2025. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates. The analysts reconfirmed their price target of CA$79.19, showing that the business is executing well and in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Tourmaline Oil analyst has a price target of CA$95.00 per share, while the most pessimistic values it at CA$74.00. This is a very narrow spread of estimates, implying either that Tourmaline Oil is an easy company to value, or - more likely - the analysts are relying heavily on some key assumptions. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Tourmaline Oil's past performance and to peers in the same industry. The analysts are definitely expecting Tourmaline Oil's growth to accelerate, with the forecast 58% annualised growth to the end of 2025 ranking favourably alongside historical growth of 18% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 2.9% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Tourmaline Oil is expected to grow much faster than its industry. The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at CA$79.19, with the latest estimates not enough to have an impact on their price targets. With that in mind, we wouldn't be too quick to come to a conclusion on Tourmaline Oil. Long-term earnings power is much more important than next year's profits. We have forecasts for Tourmaline Oil going out to 2026, and you can see them free on our platform here. Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Tourmaline Oil that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
