tourmaline chinook

In the current five-year plan, net debt to cash flow trends down to less than 1.0 times by exit 2021. Barrel of oil equivalents (boe) may be misleading, particularly if used in isolation. The use of any of the words "forecast", "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "on track", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information. We hope you enjoyed your trial to the website. Statements relating to "reserves" are also deemed to be forward looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and that the reserves can be profitably produced in the future. Reserves have been evaluated by independent reserve evaluators as follows: Chinook 2P reserves of 35.6 mmboe as at December 31, 2018 by McDaniel & Associates Consultants Ltd. and Deep Basin 2P reserves of 32.0 mmboe as at December 31, 2019 by McDaniel & Associates Consultants Ltd. Reserves are working interest gross reserves before deduction of royalties payable to others and without including any royalty interests. The Q2 free cash flow was utilized to fully fund the dividend, acquire Chinook Energy Inc. ("Chinook"), fund the Deep Basin acquisitions, and reduce debt, all during one of the most difficult quarters in the history of the industry. By providing my email, I consent to receiving investment related electronic messages from Stockhouse. Cash flow is defined as cash provided by operations before changes in non-cash operating working capital. More than 2,500 Subscribers rely on our data each day. Additional information on these and other factors that could affect Tourmaline, or its operations or financial results, are included in the Company's most recently filed Management's Discussion and Analysis (See "Forward-Looking Statements" therein), Annual Information Form (See "Risk Factors" and "Forward-Looking Statements" therein) and other reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website ( or Tourmaline's website ( Tourmaline will acquire all of the issued and outstanding common shares of Chinook through a plan of arrangeme 3700, 250 6th Ave SW, Calgary, AB T2P 3H7. In addition, as the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Tourmaline will initially focus on optimizing production and reducing field costs with the expectation that the Chinook/Polar Star assets will generate approximately $8.0 – $10.0 million of cash flow (2) annually at current gas prices which is entirely incremental to Tourmaline’s free cash flow (3) as outlined in the Company’s five-year development plan. By providing my email, I consent to receiving messages from Stockhouse. To the extent such estimates constitute financial outlooks, they were approved by management and the board of directors of Tourmaline on July 29, 2020 and are included to provide readers with an understanding of Tourmaline's anticipated 2021 exit net debt-to-cash flow ratio and cash flow and free cash flow based on the capital expenditure, production and other assumptions described herein and readers are cautioned that the information may not be appropriate for other purposes. FIND US. Please enter your password to sign in. Financial Market Data powered by QuoteMedia. Please Upgrade it take less then a minute. Minimal development of the assets is expected in the next two years while Tourmaline assembles a regional facility plan as a key aspect of the future development of these assets, including a Gundy scale deep-cut facility (200 mmcfpd, 15,000 bpd condensate and NGLs). To participate, please dial 1-888-231-8191 (toll-free in North America), or international dial-in 647-427-7450, a few minutes prior to the conference call. Free cash flow is calculated as cash flow less total net capital expenditures and is prior to dividend payments. Such metrics have been included in this document to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the Company's future performance and future performance may not compare to the Company's performance in previous periods and therefore such metrics should not be unduly relied upon. Unauthorized distribution, transmission or republication strictly prohibited. Ongoing, Company-optimized technology developments have reduced aggregate drill/complete costs by 5-10% over the past 12 months. Tourmaline, as planned in the 2020 maintenance capital budget, is currently operating the full 10 rig drilling fleet across. We also use them to share usage information with our. Natural Gas, Natural Gas is owned by Stockhouse Publishing Ltd. © 2019 Stockhouse Publishing Ltd. All rights reserved. Tourmaline will initially focus on optimizing production and reducing field costs with the expectation that the Chinook/Polar Star assets will generate approximately $8.0 - $10.0 million of cash flow(2) annually at current gas prices which is entirely incremental to Tourmaline's free cash flow (3) as outlined in the Company's five-year development plan. This news release includes references to Tourmaline's 2020 exit rate production, Q2 2020, Q3 2020, Q4 2020 and 2021 average daily production and average daily production from recently completed acquisitions. (acreage, production rates, well info, development plans, resverse, and completions designs), Tourmaline Acquires Chinook Energy in $24MM Deal, CNRL Acquires Montney Player Painted Pony in $460MM Deal, ConocoPhillips Bolts-On Montney Property for $390MM Cash, Tourmaline Acquires Montney-Focused Polar Star, Future and current Drilling Plans in , as of 10-26-2020, Intent To Drill/Drilling Permits for , as of 10-26-2020, Latest News on the US, Canada and International plays, Tracking Activity on more than 4,000 companies (E&P, Midstream & Oilfield Services), Active Rigs By Company and County (Updated Weekly), 2015 & 2014 Company Detailed Drilling Budgets, Company & Play Break-Even, Type Curves and Well Economics. The following table is intended to provide supplemental information about the product type composition for each of the production figures that are provided in this news release: Light and Medium Unauthorized distribution, transmission or republication strictly prohibited. Track new and recompletion permits by: well name, class, (Oil, Gas, etc) county, state, operator, permit date and, status, API, lease information, and legal description, Rig Locations Map / Database: Updated Weekly, Search and view rig locations by: operator, well name, county, state, and wellbore type, Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages. Tourmaline has reduced Chinook's operating costs by approximately 45% since the acquisition and will incorporate Chinook's assets into the Company's long-term BC Montney growth plans. Approximately 75% of Tourmaline's natural gas volumes are sold on the Western half of the continent (PGE, Malin, Sumas, Station 2, AECO) where 2021 gas supply diminishment is anticipated to be the greatest. Track A&D/M&A transactions by: buyer, seller, deal value, production, reserves, acreage, price per BOE, Access select maps from operator presentations for acreage, acquisitions, trends, and more, Track the latest well results and performance from operators in the Permian-basin, Track spending quarter by quarter as operators adjust spending throughout the year, Property Listings (Assets for sale by Operator, State, County, Region, Type), Still not sure? View the. Accordingly, NGLs in this disclosure exclude condensate. See "Non-GAAP Financial Measures" in the most recently filed Management's Discussion and Analysis for additional information regarding these non-GAAP financial measures including reconciliations to the most directly comparable GAAP financial measures. Tourmaline’s offer of C$0.0675 per Chinook share represents a 33% premium over the 20-day volume weighted average trading price of the Chinook shares on the TSX. (Bbls), Company Gross In general, estimates of economically recoverable crude oil, natural gas and NGL reserves and the future net cash flows therefrom are based upon a number of variable factors and assumptions, such as historical production from the properties, production rates, ultimate reserve recovery, timing and amount of capital expenditures, marketability of oil and natural gas, royalty rates, the assumed effects of regulation by governmental agencies and future operating costs, all of which may vary materially.

Surreal In A Sentence, West Seattle Weekly, Can I Drive Down To Waipio Valley, Community Choice Aggregation Sce, Let's Face It Art Class, Coca-cola Water Sustainability, Far From Heaven Essay,

Leave a Reply

Your email address will not be published. Required fields are marked *