Yahoo Finance

• Cash Flow: $742 million or $2.09 per diluted share for Q3 2024.

• Net Earnings: $355 million or $1.00 per diluted share for Q3 2024.

• Special Dividend: $0.50 per common share to be paid on November 26th.

• Total Dividends Distributed: $3.25 per share, including the special dividend.

• Average Realized Natural Gas Price: $3.19 per MCF for Q3 2024.

• Q3 2024 Average Production: Over 557,000 BOE per day, an 11% increase over Q3 2023.

• Free Cash Flow: $152.5 million for Q3 2024.

• Net Debt: $1.7 billion as of Q3 2024.

• Long-term Net Debt Target: Adjusted to $1.5 billion.

• Capital Expenditures: $591 million total CapEx for Q3 2024.

• EP Expenditures: $575 million, a subset of total CapEx for Q3 2024.

• 2025 Capital Budget Range: $2.6 to $2.85 billion.

• Average Realized Gas Price: $3.19 per MCF, higher than the ACO 5A benchmark of $0.70 per MCF.

• Hedged Gas Volumes for 2025: 947 million cubic feet per day at $4.58 per MCF.

• Drilled Wells: 76.8 net wells drilled in Q3 2024.

• Completed Wells: 75.9 wells completed in Q3 2024.

• Deep Basin Well Productivity: IP 90s up 20% on gas and 40% on condensate over the average of 2020-2023.

• Warning! GuruFocus has detected 5 Warning Signs with RLJ.

Release Date: November 07, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Tourmaline Oil Corp (TRMLF) reported strong third-quarter cash flow of $742 million, or $2.09 per diluted share.

• The company declared a special dividend of $0.50 per common share, contributing to a total dividend distribution of $3.25 per share for the year.

• Tourmaline Oil Corp (TRMLF) completed the acquisition of Crew Energy, enhancing its asset base.

• The company's Q3 2024 average production increased by 11% over Q3 2023, reaching over 557,000 BOE per day.

• Tourmaline Oil Corp (TRMLF) achieved significant well productivity improvements in the Deep Basin, with a 20% increase in gas and 40% in condensate over the past four years.

Negative Points

• Tourmaline Oil Corp (TRMLF) faced unplanned third-party outages that reduced third-quarter production.

• The company is operating in a low natural gas pricing environment, which has impacted profitability.

• Tourmaline Oil Corp (TRMLF) anticipates potential production deferrals or shut-ins if natural gas prices remain low in 2025.

• The company's net debt at the end of Q3 2024 was $1.7 billion, with a long-term target of $1.5 billion.

• Tourmaline Oil Corp (TRMLF) has a significant portion of its capital budget allocated to facilities and exploration, which may not immediately contribute to production increases.