Tourmaline Q2 net earnings drop 64% to CAD 184.43 million; revenue slips 1% to CAD 1.49 billion
Reuters2026/07/29 21:24- Tourmaline Oil posted Q2 cash flow (non-GAAP) of CAD 786.1 million, down 4%, generating free cash flow (non-GAAP) of CAD 192.1 million.
- Net earnings fell 64% to CAD 184.43 million, while revenue from commodity sales and realized gains slipped 1% to CAD 1.49 billion.
- Average production declined 4% to 594,198 boepd, marginally below guidance due to additional natural gas storage injections and activity deferrals.
- Net debt was CAD 1.5 billion at June 30, below the CAD 1.75 billion long-term target, about 0.4x 2026 forecast cash flow.
- Entered a long-term AltaGas agreement to lift propane and butane exports via the REEF terminal, expected to boost premium LPG exposure by about 55%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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