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)

140

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

Vice President, Operations & Chief Operating Officer

Secretary & General Counsel

Controller

Vice President, Exploration

Vice President, Land & Contracts

Vice President, Drilling & Completions Operations

Vice President, Marketing

Professional

Board of Directors

President & Chief Executive Officer at Tourmaline Oil Corp.

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

Vice President & Portfolio Manager at Matco Financial, Inc.

Vice Chairman, Institutional Sales at Peters and Co. Limited

Professional at Tourmaline Oil Corp.

Professional at Tourmaline Oil Corp.

Professional at Tourmaline Oil Corp.

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

Professional at Tourmaline Oil Corp.

Professional at Tourmaline Oil Corp.

Paths to Tourmaline Oil Corp.
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Tourmaline Oil Corp.
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. Rather than offering just one investment style, CI 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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Canoe Financial focuses Canadian investments and offers a variety of mutual funds, closed-end funds and flow-through funds designed for long-term investors.The Canoe Bond Advantage Fund/Class invests in Canadian investment grade fixed-income securities, with a focus on corporate bonds. The Canoe Enhanced Income Fund/Class invests in Canadian fixed-income and equity securities. The Canoe Global Income Fund employs a tactical approach to investing in the global credit markets. The Canoe Strategic High Yield Fund/Class invests in high-yield debt securities. The Canoe Canadian Monthly Income Class invests in a mix of Canadian equity and fixed-income securities, US investment grade, corporate and high-yield fixed income securities, preferred stocks and convertible securities or other non-Canadian securities.The Canoe Canadian Asset Allocation Class seeks to provide long-term growth and capital preservation using a balanced investment approach by investing in a mix of Canadian equity and fixed-income securities, and money market instruments. The fund may also invest in gold, gold certificates, silver certificates and certain gold/silver ETFs. The Canoe North American Monthly Income Class invests in high-yielding equity securities and corporate bonds of North American issuers. The Canoe Equity Income Class focuses on diversified investments in Canadian equity and fixed-income securities. The Canoe Equity Class invests in Canadian equity securities but may also invest in gold, gold certificates, silver certificates and certain gold/silver ETFs. The Canoe US Equity Income Class is an equity income portfolio that invests in securities of US issuers.Canoe EIT Income Fund (formerly EnerVest Diversified Income Trust) (TSX: EIT.UN) seeks to maximize monthly distributions relative to risk and maximize net asset value, while building a diversified portfolio, primarily through acquiring and investing in equity and debt securities of royalty and income trusts, corporations, partnerships, or other issuers.

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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 CAD Subscription Receipts - Bought Deal

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Tourmaline Oil Corp. issued Common Stock

Transaction Advisors
Underwriter

Advised onTourmaline Oil Corp. issued Common Stock

Underwriter

Advised onTourmaline Oil Corp. issued Common Stock

Underwriter

Advised onTourmaline Oil Corp. issued Common Stock

Manager

Advised onTourmaline Oil Corp. issued Common Stock

Chairman & Chief Executive Officer

Advised onTourmaline Oil Corp. issued Common Stock

Manager

Advised onTourmaline Oil Corp. issued Common Stock

Key Stats and Financials As of 2018
Market Capitalization
$5.82B
Total Enterprise Value
$6.08B
Earnings Per Share
$1.48
Revenue
$1.69B
Net Profit
$401M
EBITDA
$936M
EBITDAMargin
55.46%
Total Debt
$1.48B
Total Equity
$7.57B
Enterprise Value Sales
3.6x
Enterprise Value EBITDAOperating
6.5x
TEVNet Income
15.15x
Debt TEV
0.24x
Non-Profit Donations & Grants
$10K +
2013
$10K +
2012
Suppliers
GLJ Petroleum Consultants Ltd. Other Business & Consulting Services | Calgary, AB

GLJ Petroleum Consultants Ltd. provides energy resource consulting services. It offers reserves and resources, asset transactions, scoping analysis, technical studies, risk and sensitivity analysis, expert witness, technical writing, and commodity price forecasts. The company was founded by Vic Kloepfer and Gary Last in 1972 and is headquartered in Calgary, Canada.

Freehold Royalties Ltd. Oil & Gas | Calgary, AB

Freehold Royalties Ltd. engages in acquiring and managing of 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 | Gurgaon, Haryana

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
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 (NGLS), 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 in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development. The Deep Basin segment includes includes land primarily in the Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas. The Refining and Marketing segment provides transportation and selling of crude oil, antural gas and NGLS. 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 in 1881 and is headquartered in Calgary, Canada.

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 operates through the following segments: Australia, Canada, France, Ireland, Germany, United States of America, the Netherlands, and Corporate. The company was founded by Lorenzo Donadeo and Claudio A. Ghersinich in January 1994 and is headquartered in Calgary, Canada.

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

Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, and is publicly traded on the Toronto Stock Exchange under the symbols HSE and HSE.PR.A. The Company operates worldwide with Upstream, Midstream and Downstream business segments. A combination of technological innovation, prudent investment, sound project management and responsible resource development allows Husky to deliver strong returns to shareholders. The Company has a well-defined and growth-oriented business plan, a stable foundation and has set course to realize value from three mid- to long-term growth pillars

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