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Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s):  TRMLF

Tourmaline Oil Corp. is a Canada-based crude oil and natural gas exploration and production company. The Company is focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. It operates in three basins, which include the Alberta Deep Basin, NEBC Montney Gas/Condensate and Peace River Triassic Oil. The Company has ownership interests in 16 natural gas plants in the Alberta Deep Basin. It owns and operates five natural gas processing facilities with an aggregate capacity of approximately 325 million cubic feet per day (MMcf/d) with related gas gathering systems and NGL handling infrastructure at NEBC Montney Gas basin. The Company owns and operates two oil batteries at the Peace River Triassic Oil basin, which handles approximately 48,000 barrels per day of fluids and the associated natural gas is delivered to a third party for processing.


TSX:TOU - Post by User

Comment by packerdriveron Jun 26, 2024 11:26pm
129 Views
Post# 36108273

RE:Interesting

RE:Interesting
retiredcf wrote: Canadian crude replacing Iraqi oil on U.S. West Coast: Given the years it took to build and the billions of dollars it cost, the business case for the TMX Pipeline Expansion was always to open up Asian markets for Canadian oil. But an interesting trend has emerged in the weeks since the pipeline has opened, in that a major buyer for Canadian oil isn’t an ocean away, but much closer to home. Bloomberg reports that refineries in California and Washington are set to buy about 150,000 barrels a day of Canadian oil in June. That’s seven times more than they used to buy, and it’s more than the 81,000 barrels a day that are bound for China, and the 50,000 to India put together. Time will tell where the long term trade winds blow, but in the short term, it’s fascinating to watch the U.S. and Canadian oil sectors getting even more integrated than they were before.


Yeah interesting....but Washington refineries were using crude from TM way before the expansion into TMX. I remember doing a little research 4-5 years ago and some Washington refineries were sourcing their crude 1/3 from Alaska, 1/3 from TM and 1/3 by rail from the Williston fracking play (South Dakota).

There are no other oil pipelines that cross the rocky mountains in ALL of North America. TM/TMX is the ONLY one......in seventy years nobody has ever wanted or tried to build a second one....funny, eh?

You'd think that will all the oil in Texas...especially after 2010....somebody would have wanted to supply the HUGE california market from there....but no one ever did. (???)
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