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 6-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 three core long-term growth areas – the Alberta Deep Basin, the northeast B.C. Montney complex and the Peace River High Charlie Lake complex. Tourmaline is executing a large-scale, repeatable capital exploration and development program in these three core long-term growth areas.
Tourmaline’s long-term business strategy is to increase shareholder value by building an extensive asset base over the 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.