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BRIEF-Tourmaline Announces Financial Results For Q2 2020

Published 2020-07-29, 06:29 p/m
© Reuters.
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July 29 (Reuters) - Tourmaline Oil Corp TOU.TO :

* TOURMALINE ANNOUNCES STRONG OPERATING AND FINANCIAL RESULTS FOR Q2 2020 WITH SIGNIFICANT FREE CASH FLOW

* Q2 EARNINGS PER SHARE C$0.07

* Q2 EARNINGS PER SHARE ESTIMATE C$-0.09 -- REFINITIV IBES DATA

* Q2 2020 PRODUCTION AVERAGED 299,369 BOEPD

* AVERAGE REALIZED NATURAL GAS PRICE WAS CAD $2.41/MCF IN QUARTER

* Q3 2020 PRODUCTION OF 295,000 - 300,000 BOEPD IS CURRENTLY ANTICIPATED

* Q4 PRODUCTION OF 320,000-325,000 BOEPD IS FORECAST

* 2020 PRODUCTION EXIT OF 322,500 - 327,500 BOEPD IS NOW ESTIMATED

* 2021 PRODUCTION ESTIMATE OF 320,000 BOEPD WILL BE REVISITED WITH Q3 RESULTS

* ONGOING 2020 ACQUISITIONS AND A ROBUST 2H 2020 EP PROGRAM ARE EXPECTED TO INCREASE 2021 PRODUCTION, CASH FLOW

* QTRLY TOTAL REVENUE FROM COMMODITY SALES AND REALIZED GAINS $443.6 MILLION

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