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Highlights
- Tourmaline Oil’s total revenue for Q1 rose 16.3% YoY, fueled by hedging gains, better marketing, and a 19.1% boost in royalty income
- The company is undertaking two strategic acquisitions in the NEBC Montney region
- For FY25, the company plans to drill 364 net wells and has issued production guidance targeting an average annual output of 635,000 to 665,000 boepd
Tourmaline Oil Corp (TSX: TOU) is a leading Canadian energy company specializing in the acquisition, exploration, development, and production of natural gas and crude oil assets within the Western Canadian Sedimentary Basin.
In the first quarter of 2025 (Q1 2025), TOU’s total revenue grew by 16.3% year-over-year, driven by gains from hedging future contracts, improved marketing activities, and a 19.1% increase in royalty income. Although revenue increased, rising costs partially offset earnings, with net income significantly impacted by higher depreciation and depletion expenses. This was a result of increased capital expenditure and an expanded production base. This led to a decline in net earnings by 13.1% compared to Q1 2024.
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