NG Pricing of tourmalineonly 3% of their 2023 is Nymex basis- 2.75 or so today
15% of their 2023 is California based (Malin/PGE)- $11 today
US LNG is 5%- higher than Nymex and price is much higher
Those who assume Tourmaline are getting Sub $3 for their production are mistaken.
Rose said payout ratio will be 50 to 90%- depends on NG pricing if its lower or higher.
Company is also below their debt target so they can likely maintain big specials drawing down debt if they are below.
I expect we will see $7 to $9 payout this year and at these prices Tou will give a very nice yield as they crank the output another couple hundred thousand BOEPD in 2028 with LNG Canada sucking a couple of BCF per day.
Best company by far