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BRIEF-Tourmaline Reports Q1 Earnings Per Share C$0.32

Published 2019-05-08, 05:58 p/m
© Reuters.  BRIEF-Tourmaline Reports Q1 Earnings Per Share C$0.32
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May 8 (Reuters) - Tourmaline Oil Corp TOU.TO :

* TOURMALINE REALIZES RECORD PRODUCTION AND INCREASES DIVIDEND

* Q1 EARNINGS PER SHARE C$0.32

* SETS QUARTERLY CASH DIVIDEND OF C$0.12PER SHARE

* SETS QUARTERLY CASH DIVIDEND OF C$0.12PER SHARE

* Q1 2019 PRODUCTION AVERAGED 293,434 BOEPD, A 9% INCREASE OVER Q1 2018

* DECIDED TO INCREASE QUARTERLY CASH DIVIDEND BY 20% TO $0.12 PER COMMON SHARE FROM $0.10 PER COMMON SHARE

* FULL-YEAR 2019 AVERAGE PRODUCTION GUIDANCE REMAINS UNCHANGED AT 300,000 BOEPD

* DECIDED TO REDUCE FULL-YEAR 2019 CAPITAL PROGRAM BY A FURTHER $25.0 MILLION TO $1.2 BILLION

* TOURMALINE ANTICIPATES TOTAL Q2 2019 EP CAPITAL EXPENDITURES OF $200.0 - $210.0 MILLION.

* QTRLY TOTAL REVENUE FROM COMMODITY SALES AND REALIZED GAINS $664.3 MILLION, UP 21%

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