RE:In the light of the latest press release This is what they're using the proceeds for
Tourmaline is selling the Common Shares as part of a long-term plan to reduce its equity position as Topaz develops and continues to succeed as an independent royalty and infrastructure company. Tourmaline will use the net proceeds of the Offering in part to fund its planned extensive NEBC infrastructure build-out, which is expected to add over 150,000 boepd of production over current levels in the next five years while maintaining net debt(1) at the long-term $1.5 billion target.
To me that means they see prices firming up/ going higher and demand increasing looking out.
so they are arming themselves to increase production without having to borrow new money
time to make some money