Tourmaline Oil Corp.

Tourmaline Oil Corp.

Tourmaline Oil Corp.

Overview
Headquarters

525 8th Avenue SW,Suite 2400,Calgary, AB T2P 1G1

Type of Company

Public

Employees (Worldwide)

429

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.

Executives & Employees

President & Chief Executive Officer

Vice President, Finance & Chief Financial Officer

Vice President, Operations & Chief Operating Officer

General Counsel & Secretary

Vice President, Exploration

Vice President, Land & Contracts

Vice President, Drilling & Completions Operations

Vice President, Marketing

Board of Directors

President & Chief Executive Officer at Tourmaline Oil Corp.

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

Former Founder & President at Lamoreaux Capital Management LLC

Vice President & Portfolio Manager at Matco Financial, Inc.

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

Vice Chairman, Institutional Sales at Peters and Co. Limited

Former President, Chief Executive Officer & Director at Nordegg Resources, Inc.

Former Chief Executive Officer at United Way of Calgary & Area

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

President & Chief Executive Officer at Armstrong Oil & Gas, Inc.

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Owners & Shareholders
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CI Investments (CI) offers an array of mutual funds, including over 90 core funds. These funds include an array of portfolio managers who cover the full spectrum of investment styles and strategies focusing on various regions, asset classes and industries. CI also offers CI Corporate Class and T-Class. The T-Class seeks to provide predictable tax-deferred cash flows without sacrificing choice of investments. These funds include income, balanced, equity or managed solutions. The CI Corporate Class is suitable for clients investing outside of a registered plan and is designed to reduce tax liability. It also allows clients to draw tax-efficient cash flow from their investments through T-Class funds.CI’s G5 20 Series funds are guaranteed to distribute annual cash flow amounting to 5% of the guaranteed asset value of the investment for 20 years while maintaining equity exposure for growth potential. The G5 20 Series combines underlying funds managed by CI's portfolio managers with a risk management overlay to provide guaranteed cash flow for retirement.CI's segregated funds combine the advantages of mutual funds with the security of insurance. The policies for CI's segregated funds are issued by two insurance companies: Sun Life Assurance Co. of Canada and ivari. The funds cover all asset classes and investment styles and may be managed internally or by third party managers. CI offers managed account investment solutions based on strategic asset allocation. The Portfolio Series is designed to meet a variety of investor profiles, from income to maximum growth. Portfolios invest in a mix of CI mutual funds and are diversified by asset class, region and sector. CI's Portfolio Select Series offers a selection of model portfolios based on strategic asset allocation and are customized to meet each client's objectives. The Portfolio Select Series also uses the CI Corporate Class platform, allowing for true tax efficiency.In addition, CI offers access to alternative investments including deposit notes, labor-sponsored funds, hedge funds, closed-end funds and limited partnerships. These investments may have a negative correlation to traditional investments and are useful in providing additional diversification and risk management.

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SailingStone Capital Partners invests client assets primarily in accordance with their Natural Resources Strategy and/or their Natural Gas Strategy. The Natural Resources Strategy invests primarily in equity securities of issuers that the firm considers to be engaged principally in natural resources industries anywhere in the world. These portfolios typically hold a limited number of securities. SailingStone seeks to purchase securities in companies with these characteristics when SailingStone believes the price reflects a limited possibility of permanent capital impairment. SailingStone's Natural Gas Strategy invests in equity securities of companies that produce natural gas in North America or engage in natural gas-related businesses that may benefit from an improvement in long-term natural gas fundamentals. The strategy is concentrated around companies that the firm believes possess a combination of the three attributes required to generate excess returns in a commoditized industry: producing assets which sit at the bottom of a steeply sloped supply cost curve, highly capable management teams with a strong track record of prudent capital allocation and value creation, and a deep inventory of advantaged assets into which capital can be deployed at high rates of return.

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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.

Recent Transactions
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Tourmaline Oil Corp. purchases Shell Canada Energy Ltd. /Deep Basin & Montney Assets from Royal Dutch Shell Plc

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Tourmaline Oil Corp. issued Subscription Receipts

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Tourmaline Oil Corp. issued Common Stock

Transaction Advisors
Underwriter

Advised onTourmaline Oil Corp. issued Common Stock

Manager

Advised onTourmaline Oil Corp. issued Common Stock

Legal Advisor

Advised onTourmaline Oil Corp. issued Common Stock

Manager

Advised onTourmaline Oil Corp. issued Common Stock

President & Chief Executive Officer

Advised onTourmaline Oil Corp. issued Common Stock

Manager

Advised onTourmaline Oil Corp. issued Common Stock

Key Stats and Financials As of 2017
Market Capitalization
$6.62B
Total Enterprise Value
$7.69B
Earnings Per Share
$1.29
Revenue
$1.62B
Net Profit
$347M
EBITDA
$1B
EBITDAMargin
61.96%
Total Debt
$1.53B
Total Equity
$7.22B
Enterprise Value Sales
4.76x
Enterprise Value EBITDAOperating
7.67x
TEVNet Income
22.17x
Debt TEV
0.2x
Five Year Compounded Annual Growth Rate Of Revenue
31.47%
Three Year Compounded Annual Growth Rate Of Revenue
8.68%
Non-Profit Donations & Grants
$10K +
2013
$10K +
2012
Suppliers
GLJ Petroleum Consultants Ltd. Other Business & Consulting Services | Calgary, AB

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Freehold Royalties Ltd. Oil & Gas | Calgary, AB

Freehold Royalties Ltd. engages in acquiring and managing oil and gas royalties. Its production comes from royalty assets, which include mineral title and gross overriding royalties. The company was founded in 1996 and is headquartered in Calgary, Canada.

Deloitte Touche Tohmatsu Ltd. Accounting & Financial Services

Deloitte Touche Tohmatsu Ltd. provides auditing, financial advisory, tax, and consulting services. Its serves technology, consumer business, energy and resources, financial services, life sciences and health care, manufacturing, public sector, real estate, technology, media, and telecommunications industries. It also offers mergers and acquisitions and analytics services. The company was founded in 1880 and is headquartered in New York, NY.

Competitors
Vermilion Energy, Inc. Oil & Gas - Calgary, AB

Vermilion Energy, Inc.engages in the business of acquisition, exploration, development and production of oil and natural gas. It has operations in Australia, Canada, France, Ireland, Germany, United States of America and the Netherlands. The company was founded by Lorenzo Donadeo and Claudio A. Ghersinich in January 1994 and is headquartered in Calgary, Canada.

Cenovus Energy, Inc. Oil & Gas - Calgary, AB

Cenovus Energy, Inc. engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids, and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen and natural gas in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake. The Refining and Marketing segment provides transportation, sale and refine services of crude oil into petroleum and chemical products. The Corporate and Eliminations segment includes unrealized gains and losses recorded on derivative financial instruments, divestiture of assets, as well as other administrative, financing activities and research costs. The company was founded on November 30, 2009 and is headquartered in Calgary, Canada.

Paramount Resources Oil & Gas - Calgary, AB

Paramount Resources Ltd. engages in the exploration, development, production, processing, transportation, and marketing of natural gas, crude oil, and natural gas liquids. It operates through the following segments: Principal Properties, Strategic Investments, and Corporate. The Principal Properties segment focuses on the development of liquids-rich resource plays targeting the Montney and Duvernay formations in the Alberta Deep Basin. The Strategic Investments segment includes the investments in other entities and investments in exploration and development stage assets. The Corporate segment is comprised of income and expense items, including general and administrative expense, share-based compensation expense and interest expense. The company was founded by Clayton H. Riddell on February 14, 1978 and is headquartered in Calgary, Canada.