Limited resource potential jeopardizes the longevity of Tourmaline Oil's low-cost production.
Tourmaline Oil reported fourth-quarter results that missed our expectations, with production of 191.8 thousand barrels of oil equivalent per day compared with our expectations of 207.5 mboe/d. Even though production increased 7% year over year, production was negatively affected by weather-related delays and interruptions on all three major pipeline systems. As a result of the production miss, the company’s 2016 full-year production of 185.7 mboe/d fell short of management’s guidance of 190-195 ...Tourmaline Oil is engaged in the acquisition, exploration, development and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin.
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