Tourmaline Oil Corp.

Tourmaline Oil Corp.

Tourmaline Oil Corp.

Overview
Date Founded

2016

Headquarters

250 6th Avenue SW,Suite 3700,Calgary, AB T2P 3H7

Type of Company

Public

Employees (Worldwide)

484

Industries

Oil & Gas

Company Description

Tourmaline Oil Corp. is a Canadian intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. Tourmaline commenced active operations in the fall of 2008 with the objective of building a successful Canadian intermediate crude oil and natural gas exploration, development and production company with a long-term business strategy similar to that of Duvernay Oil Corp. and Berkley Petroleum Corp., companies previously founded and managed by certain key members of Tourmaline’s senior management team. During the two-year period since commencing active operations, Tourmaline, through a series of strategic acquisitions, farm-ins and land acquisitions combined with its active capital exploration and development program, has assembled an extensive undeveloped land position with a large, multi-year drilling inventory and operating control of important natural gas processing and transportation infrastructure in two core long-term growth areas – the Alberta Deep Basin and the Greater Peace River High. Tourmaline is executing a large-scale, repeatable capital exploration and development program in these two core long-term growth areas. Tourmaline’s long-term business strategy is to increase shareholder value by building an extensive asset base over two to three core exploration and production areas and exploiting and developing these areas to increase reserves, production and cash flows at an attractive return on invested capital. The Company seeks to execute this strategy by: aggressively drilling and developing its extensive undeveloped land position; adopting and employing advanced drilling and completion techniques; enhancing returns by focusing on operational and cost efficiencies; pursuing strategic acquisitions with significant potential synergies; and wildcat exploration drilling for new pool discoveries. Management believes Tourmaline has a number of competitive advantages that management expects will help the Company successfully execute its long-term business strategy including: an extensive undeveloped land position in two long-term growth areas; a large, multi-year drilling inventory; an incentivized management team with demonstrated operating and acquisition skills; majority operating control of the Company’s core assets; a strong balance sheet; and a focus on operational efficiencies and cost containment.

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Executives & Employees

President & Chief Executive Officer

Vice President, Finance & Chief Financial Officer

Chief Operating Officer

Secretary & General Counsel

Controller

Vice President, Land & Contracts

Vice President, Operations

Vice President, Marketing

Vice President, Exploration

Board of Directors

President & Chief Executive Officer at Tourmaline Oil Corp.

Vice President, Finance & Chief Financial Officer at Tourmaline Oil Corp.

Vice Chairman, Institutional Sales at Peters and Co. Limited

Managing Director at Palisade Capital Management Ltd.

Former President, Chief Executive Officer & Director at United Way of Calgary & Area

Former Co-Head of Canadian Equities & Portfolio Manager at Phillips, Hager & North Investment Management

Chief Executive Officer at Armstrong Energy LLC /AK

Former President & Chief Executive Officer at RSX Energy, Inc.

Former Director, Vice President-Land & Co-Founder at Pan East Petroleum, Inc.

President at BP Exploration (Alaska), Inc.

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Tourmaline Oil Corp.
Owners & Shareholders
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CI Investments offers an array of mutual funds, including over 90 core funds. These funds include a range of portfolio managers who cover the full spectrum of investment styles and strategies focusing on various regions, asset classes and industries. Rather than offering just one investment style, the firm has engaged leading money managers in all disciplines: value, blend (growth at a reasonable price) and growth. CI Investments believe that their approach to responsible investing is aligned with the six principles that comprise the United Nations Principles for Responsible Investing.

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Leith Wheeler Investment Counsel Ltd.'s (LWIC) value-oriented Canadian Equity investment strategy seeks to invest companies that have some competitive advantage or franchise that will preserve the company’s ability to deliver attractive returns on capital. The firm realizes that the market usually recognizes and fully values these types of companies so they focus on finding solid businesses which may not be fully recognized by the market. Often these businesses may be under some temporary cloud or competitive pressure such that the franchise value is not clear to the market or the business lacks the speculative appeal or fad of the moment. LWIC takes meaningful positions in these companies and their culture that allows them to be patient until their investment thesis unfoldsLWIC's fixed income strategies emphasize consistency of returns and safety of capital by investing in notes and bonds issued by the Canadian federal and provincial governments and by corporations. As in the management of their equity portfolios, the firm focuses on the long-term outlook for interest rates and structures portfolios accordingly. A key component of our credit selection process is establishing a disciplined outlook for specific sectors of the fixed income credit market. Within each sector LWIC evaluates each individual security based on a rigorous bottom up analysis of the fundamentals of the business and the industry in which it operates.

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Canoe Financial manages assets across a diversified range of open end mutual funds, and private energy equity products. The firm’s Canoe EIT Income Fund (formerly EnerVest Diversified Income Trust) (TSX: EIT.UN) seeks to maximize monthly distributions relative to risk and maximize monthly distributions and capital appreciation by investing in a broadly diversified portfolio of high quality securities.

Recent Transactions
Details Hidden

Topaz Energy Corp. issued CAD Common Shares

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Tourmaline Oil Corp. purchases Chinook Energy, Inc.

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Tourmaline Oil Corp. purchases Polar Star Canadian Oil & Gas, Inc. from TIAA Board of Overseers

Transaction Clients

Advised on Topaz Energy Corp. issued CAD Common Shares

Transaction Advisors
Investment Advisor

Advised onTourmaline Oil Corp. purchases Cinch Energy Corp.

Underwriter

Advised onTourmaline Oil Corp. issued CAD Common Stock

Underwriter

Advised onTourmaline Oil Corp. issued CAD Common Stock

Manager

Advised onTourmaline Oil Corp. issued CAD Common Stock

Chairman & Chief Executive Officer

Advised onTourmaline Oil Corp. issued CAD Common Stock

Manager

Advised onTourmaline Oil Corp. issued CAD Common Stock

Key Stats and Financials As of 2019
Market Capitalization
$3.37B
Total Enterprise Value
$4.36B
Earnings Per Share
$0.86
EBITDAMargin
58.98%
Enterprise Value / Sales
2.85x
Enterprise Value EBITDAOperating
4.83x
TEVNet Income
18.61x
Debt TEV
0.27x
Three Year Compounded Annual Growth Rate Of Revenue
23.81%
Five Year Compounded Annual Growth Rate Of Revenue
10.36%
Revenue
$1.53B
Net Profit
$234M
EBITDA
$903M
Total Debt
$1.19B
Total Equity
$5.83B
Non-Profit Donations & Grants
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