Tourmaline

Canada’s Tourmaline Touts Profitability Amid ‘Extremely Weak’ Natural Gas Prices

Canada’s Tourmaline Touts Profitability Amid ‘Extremely Weak’ Natural Gas Prices

Canada’s largest natural gas producer, Tourmaline Oil Corp., is using hedging and a diversified marketing strategy to counteract low prices for the commodity in Western Canada, management said.  CEO Michael Rose hosted a conference call to discuss first quarter earnings for Tourmaline, which operates in the Alberta Deep Basin, the Montney Shale and the Peace…

May 7, 2024
Tourmaline Cutting WCSB ‘24 Natural Gas Production Amid Low Prices, Remains ‘Super Constructive’ on ‘25

Tourmaline Cutting WCSB ‘24 Natural Gas Production Amid Low Prices, Remains ‘Super Constructive’ on ‘25

Tourmaline Oil Corp., the largest natural gas producer in Canada, is reducing 2024 natural gas production in the Western Canadian Sedimentary Basin (WCSB) by about 100 MMcf/d from previous guidance, or 4% essentially eliminating any gas growth in 2024, “and we definitely think that’s the right thing to do,” CEO Mike Rose said.  Tourmaline is…

March 13, 2024
Canada’s Tourmaline Touts JKM, TTF Exposure in Supply Deals with Trafigura

Canada’s Tourmaline Touts JKM, TTF Exposure in Supply Deals with Trafigura

Canada’s largest natural gas producer, Tourmaline Oil Corp., said it has increased its exposure to global LNG pricing through two agreements to supply gas to units of commodity trading giant Trafigura Group Pte. Ltd. The first deal is a netback agreement linked to the Japan-Korea Marker (JKM). The deal is based on 62,500 MMBtu/d, or…

January 17, 2024
Tourmaline Sees Tighter Market, Higher Natural Gas Prices Ahead as LNG Projects Enter Service

Tourmaline Sees Tighter Market, Higher Natural Gas Prices Ahead as LNG Projects Enter Service

Calgary’s Tourmaline Oil Corp. is anticipating stronger natural gas prices in 2024 and 2025, driven by the LNG Canada export project on British Columbia’s coast and new liquefaction projects elsewhere in North America.  CEO Michael Rose hosted a conference call to discuss third quarter earnings for Canada’s largest natural gas producer, which operates in three…

November 13, 2023
Tourmaline Eyes Deep Basin Natural Gas Growth with $1.1B Bonavista Acquisition

Tourmaline Eyes Deep Basin Natural Gas Growth with $1.1B Bonavista Acquisition

Canada’s largest natural gas producer, Tourmaline Oil Corp., disclosed it plans to acquire Bonavista Energy Corp. as it looks to add “decades of inventory” to its existing Deep Basin assets in Alberta, according to the firm. Calgary-based Tourmaline signed an agreement to acquire Bonavista in a deal valued at $1.1 billion (C$1.45 billion). The acquisition…

October 16, 2023
Alberta E&Ps Shut In Natural Gas, Oil Production as Wildfires Force Evacuations

Alberta E&Ps Shut In Natural Gas, Oil Production as Wildfires Force Evacuations

An estimated 150,000 boe/d of natural gas and oil production was offline and thousands of residents had been evacuated early Monday as Western and Central Alberta dealt with more than 100 wildfires, with as many as 30 considered out of control. “We note that there has yet to be reports of significant damage to infrastructure,…

May 8, 2023
Canadian Natural Gas Giant Tourmaline Touts California, LNG Price Exposure to Offset AECO Weakness

Canadian Natural Gas Giant Tourmaline Touts California, LNG Price Exposure to Offset AECO Weakness

Canada’s largest natural gas producer, Tourmaline Oil Corp., is aiming to maximize its exposure to volatile North American markets, such as California, as well as global LNG pricing, management said last Thursday. CEO Michael Rose hosted a conference call to discuss first quarter results for Calgary-based Tourmaline, which operates throughout the Western Canadian Sedimentary Basin.…

May 8, 2023
Tourmaline Diversifying Canadian Natural Gas Marketing to Snag ‘Best Pricing Possible’

Tourmaline Diversifying Canadian Natural Gas Marketing to Snag ‘Best Pricing Possible’

Canada’s top natural gas producer, Tourmaline Oil Corp., is training its sights on the Montney Shale and revamping the marketing portfolio to fetch solid prices in North America and overseas. CEO Michael Rose led a conference call to discuss the Calgary-based exploration and production (E&P) company’s fourth quarter and full-year results. He also offered some…

March 6, 2023
Are Higher Canada AECO Natural Gas Prices a Pipe Dream? 

Are Higher Canada AECO Natural Gas Prices a Pipe Dream? 

Discounted pricing at the NOVA/AECO C natural gas hub in Southern Alberta is likely to remain a fact of life over the near term, even if pipeline expansions and LNG exports in Western Canada come online as scheduled, according to experts. Abundant gas supply from the Western Canadian Sedimentary Basin (WCSB) and limited egress capacity…

January 5, 2023
Natural Gas Imports from Canada Rising in Western U.S.

Natural Gas Imports from Canada Rising in Western U.S.

Natural gas imports from Canada to the western United States have increased by 4.1% so far this year versus the same period in 2021, according to new analysis by the U.S. Energy Information Administration (EIA). The border-crossing points at Sumas, WA, and Eastport, ID, “principally supply metropolitan areas in the Pacific Northwest and California, where…

November 23, 2022
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