Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s): TRMLF

Energy Oil & Gas E&P

Tourmaline Oil Corp. is a natural gas producer, which is focused on producing natural gas in North America. 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. It has ownership interests in 22 natural gas plants in the Alberta Deep Basin. It owns and operates seven natural gas processing facilities with an aggregate capacity of approximately 1.0 Bcf/d with related gas gathering systems and NGL handling infrastructure in the NEBC complex. The Company owns and operates two oil batteries in the Peace River Triassic Oil basin. The Company’s operations are focused on northeast British Columbia and include a large contiguous land base with a Montney resource. Its Montney area assets include Septimus / West Septimus, Groundbirch, Monias and Tower.

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Tourmaline Oil Corp (Alberta)

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Post by retiredcfon Jun 02, 2023 8:38am

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Post# 35476509

TD Notes

The Gas Line

Weekly Gas Charts

Inventory Build In-Line With Expectations; Higher Than Seasonal Norm.

Storage levels increased by 110 Bcf w/w versus the consensus expectation of a 107 Bcf injection. This was modestly above normal for this time of year (103 Bcf). Expectations for next week are for an injection of 100-120 Bcf which compares with the five-year average injection of 103 Bcf. U.S. gas storage levels are now 17% above the five-year average and 29% above year-ago levels. Total days of supply sits 8% above the five-year average and 24% above year-ago levels.

U.S. Production Holding Flat; Active Rigs Continues to Decline. U.S. production remains at ~101 Bcf/d which is near record-highs and up 4% y/y. The U.S. natural gas rig count has now dropped to 9% below year-ago levels and is down 20 rigs (or 13%) since May 5. Active rigs was down by 4 w/w after remaining flat last week. Active Haynesville rigs has dropped to 54 (down from 72 rigs mid-December 2022) and the lowest since February 2022. Active Marcellus rigs remains at 39, flat w/w and unchanged since mid-December 2022.