Tourmaline Oil Reports Record Q1 Production Amid Low Gas Prices
Tourmaline Oil Corp. achieved a record production of 666,089 boepd in Q1 2026, surpassing its annual forecast. Despite operational excellence, revenue of $1.69 billion fell slightly short of expectations due to low North American gas prices, highlighting market challenges.
Theia Market Signal Identification - AI AssistedIn Q1 2026, Tourmaline Oil Corp. reported production of 666,089 boepd, exceeding its forecast of 620,000-640,000 boepd. Revenue was $1.69 billion, marginally below the projected $1.7 billion due to weak regional gas prices.
The company outperformed earnings expectations with EPS at $1.69, 88.43% above forecasts. Tourmaline holds 6.1 billion boe in 2P reserves and has a market cap of $24.5 billion. A production growth forecast aims for 800,000 boepd by 2031.
Despite strong operational performance, stock fell 2.98% post-results, reflecting investor concerns over revenue growth. The company’s LNG strategy includes agreements exceeding 400,000 MMBtu/day, diversifying price exposure. Tourmaline's debt-to-cash flow ratio remains competitive at 0.4x, supporting its position as a low-cost producer.
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