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Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s):  TRMLF

Energy Oil & Gas E&P
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

Tourmaline Oil Corp (Alberta)
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Post by retiredcfon Jun 02, 2022 1:25pm
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Post# 34727078

RBC

RBC

June 2, 2022

Tourmaline Oil Corp. Dividend increased by +12.5%

Outperform

Sentiment: Positive

Our view: Tourmaline's continued commitment to increased dividends and return of capital reinforces our constructive stance, with the company announcing an additional +12.5% increase to the base dividend. The company continues to be featured on our RBC Global Energy Best Ideas List.

Base Dividend Increased. Tourmaline Oil announced a $0.025/share (+ $0.10 per annum or +12.5%) increase to its quarterly base dividend from $0.80/share to $0.90/share annually, with the base dividend yield of 1.1% supplemented by meaningful special dividends. As a reminder, Tourmaline Oil paid out a total of $3.50/share in special dividends over the last 3 quarters. Our outlook calls for incremental $1.50/share in special dividends in each of the remaining quarters of 2022 and 2023, supplemented by $600 million and $750 million in share buybacks in 2022 and 2023, respectively.


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