# Tourmaline Oil Corp. (TSX:TOU)

> Tourmaline Oil Corp.

## About

Tourmaline Oil Corp. is a Canadian senior crude oil and natural gas exploration and production company focused on long-term growth through an active exploration, development, production and acquisition program in the western Canadian sedimentary basin. Since commencing operations in 2008, Tourmaline has built a successful company through strategic acquisitions and an extensive undeveloped land position, with a large drilling inventory and control of key natural gas processing and transportation infrastructure in three core growth areas: the Alberta Deep Basin, the Northeast British Columbia (NEBC) Montney complex, and the Peace River Triassic Oil complex.

## Key facts

- **Cash position:** not discovered
- **Shares outstanding:** not discovered
- **Fully diluted shares:** not discovered
- **Warrants:** not discovered
- **Options:** not discovered
- **Mineral resource:** Tourmaline has major positions in two large resources plays in the Western Canadian Sedimentary Basin: the Alberta Deep Basin and the Northeast British Columbia Montney. The Company has carefully selected these resource plays based on rigorous subsurface technical and economic criteria. These complexes are derisked through the drilling of over 2,640 wells and the infrastructure skeleton is complete across all complexes.
- **Projects:** ["Alberta Deep Basin\n\n320,000 boepd\n\nproduction as at March 2025\n\n1,945 mmboe\n\nreserves as at Dec 31, 2024\n\n14,794 locations\n\ndrilling inventory as at Dec 31, 2024\n\n1,345 total\n\nwells drilled\n\nLargest Deep Basin land position with 3 million acres\n\nTourmaline is the largest producer in the Alberta Deep Basin, which represents over 50% of the Company’s production.\n\nThe Alberta Deep Basin is a multi-objective tight natural gas sand play area with up to 15 separate lower Cretaceous liquids-rich natural-gas-charged sand reservoirs. Tourmaline’s target exploration and production area is in that portion of the Alberta Deep Basin where the entire lower Cretaceous stratigraphic section is gas saturated with no mobile formation water. The primary vehicle for accessing the extensive reserves in these stacked sandstones is multi-stage fracture stimulation in both horizontal and vertical well-bores.\n\nTourmaline currently has ownership interests in 23 natural gas plants in the Alberta Deep Basin, 11 of which are 100% owned and operated by Tourmaline. In aggregate, Tourmaline has in excess of 2.5 bcf/d (net) of natural gas processing capability within this plant network. Tourmaline’s goal is to be one of the lowest-development-cost, most efficient operators in the Alberta Deep Basin, and the Company plans to optimize and systematically continue to further reduce costs of operating the Alberta Deep Basin assets.\n\n330,000 boepd\n\nproduction as at March 2026\n\n1,950 mmboe\n\nreserves as at Dec 31, 2025\n\n15,309 locations\n\ndrilling inventory as at Dec 31, 2025","NEBC Montney\n\nOne of Canada’s largest Montney producers\n\nFocused on liquids rich natural gas in the Montney\n\nTechnological developments, including the drilling of horizontal multi-stage fracture stimulation wells, have allowed access to the thickest, highest pressured and highest deliverability fine grained sandstone reservoirs of the Montney in the NEBC play area. Tourmaline’s Montney EP program has been focused in the Groundbirch/Sunrise/Dawson area of the Peace River Arch, as well as the Gundy CK area, which the Company acquired through a significant asset acquisition in 2016.\n\nTourmaline has ownership in and operates seven significant natural gas processing facilities with aggregate capacity of approximately 1.0 Bcf/d with related gas gathering systems and NGL handling infrastructure in the NEBC complex. This infrastructure complex includes an expanded 400 MMcf/d ethane rejection deep cut gas processing facility installed at Gundy CK in 2019.\n\n325,000 boepd\n\nPRODUCTION AS AT MARCH 2026\n\n3,866 mmboe\n\nRESERVES AS AT DEC 31, 2025\n\n8,814 wells\n\ndrilling inventory AS AT DEC 31, 2025"]
- **Leadership:** Michael Rose (Chairman of the Board, Founder of Tourmaline in 2008 with over 39 years in the oil and gas industry, previously CEO of Duvernay Oil Corp.), Brian Robinson (Chief Financial Officer, Over 37 years of experience in finance and accounting in the oil and gas industry, previously CFO of Duvernay and Berkley.), Jill Angevine (Independent Director, Corporate Director with over 25 years in investment management, serves on the board of Advantage Energy Ltd.), William Armstrong (Independent Director, President and CEO of Armstrong Oil & Gas Inc. with extensive experience in oil and gas exploration since 1985.), Lee Baker (Independent Director, Independent businessman with over 35 years in the oil and gas industry, previously CEO of Nordegg Resources Inc.), Christopher Lee (Independent Director, Former Deputy Chair of the Canadian Deloitte Board with extensive experience in corporate governance.), Andrew MacDonald (Lead Independent Director, Independent businessman with over 30 years in investment management, previously Co-Head of Canadian Equities at Phillips, Hager & North.), Lucy Miller (Independent Director, Former President and CEO of United Way of Calgary with expertise in social responsibility.), Travis Toews (Independent Director, Managing Director of Melbern Group with experience in cattle ranching and environmental services, former Member of the Legislature of Alberta.), Janet Weiss (Independent Director, Former President of BP Exploration (Alaska) with over 35 years in the oil and gas industry.)

_Verified data last updated: 2026-06-12_

## Recent filings

- 2026-06-03 — press_release — [tou_2026-06-03_23-49-00.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/53989?documentId=53989)
- 2026-05-06 — mda — [tou_2026-05-06_16-16-50.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/51956?documentId=51956)
- 2026-05-06 — financials — [tou_2026-05-06_16-16-49.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/51957?documentId=51957)
- 2026-05-06 — press_release — [tou_2026-05-06_16-11-10.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/51958?documentId=51958)
- 2026-05-01 — other — [tou_2026-05-01_15-43-40.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/51959?documentId=51959)
- 2026-04-27 — other — [tou_2026-04-27_11-17-29.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/51960?documentId=51960)
- 2026-04-27 — proxy — [tou_2026-04-27_11-16-58.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/51961?documentId=51961)
- 2026-03-25 — other — [tou_2026-03-25_16-04-54.pdf](https://ai-chat-dev-red.vercel.app/tou/preview/51962?documentId=51962)

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- Investor website: https://www.tourmalineoil.com/