grandriver Tourmaline Oil Corp . ( OTCPK:TRMLF ) announced on January 12, 2023 that it has revised its production target downward, from 545,000 boe/d to a range of 520,000-540,000 boe/d, and has also revised its capital budget upward due to higher inflation expectations. The market responded negatively to this news, causing the company’s share price to drop by more than 3%, although Tourmaline declared a C$2.00 per share special dividend. This negative sentiment is a continuation of the short-term bearish trend that has been ongoing since December 2022, during which the stock has declined by 19%. It is, therefore, a great time to review whether the business fundamentals have changed for Tourmaline. If the long-term outlook remains bullish, the recent share price weakness should be viewed as a buying opportunity; otherwise, shareholders should move on. Tourmaline overview Tourmaline is the largest natural gas producer in Canada, having produced 2,240.64 MMcf/d of natural gas and 108,457 bbl/d of crude oil condensate and NGLs in 3Q2022, with gas accounting for 77.5% of the total production. The company is also the fourth largest gas processing midstream operator in the country (Fig. 1). Fig. 1. A map showing the landholdings and main midstream […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
