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Tourmaline Oil
Tourmaline Oil (TOU) investor relations material
Tourmaline Oil Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Mar, 2026
Executive summary
Achieved record Q4 2025 production, with January 2026 production over 685,000 boepd prior to asset sales.
Completed Peace River High asset sale for CAD 765 million in February 2026, focusing on lower-cost production and debt reduction.
Largest natural gas producer in Canada and sixth largest in North America, with 6.1 billion Boe 2P reserves as of Dec 31, 2025.
Achieved MiQ Grade A methane certification for NEBC assets.
Ongoing cost reduction and margin improvement initiatives, including contract terminations and operational efficiencies.
Financial highlights
Q4 2025 cash flow was CAD 890 million (CAD 2.29 per diluted share); full year 2025 cash flow reached CAD 3.4 billion.
Q4 2025 EP CapEx was CAD 813 million, within guidance; 2025 capital expenditures totaled $2.93 billion.
2026 EP CapEx program reduced by CAD 350 million to CAD 2.55 billion; total CapEx cut by CAD 400 million.
2026 cash flow forecasted at CAD 3.4 billion, with free cash flow over CAD 0.7 billion at strip pricing.
Net debt at year-end 2025 was CAD 1.5 billion, down from CAD 2.3 billion in Q3 2025.
Outlook and guidance
2026 average production guidance is 620,000–640,000 boepd, largely unaffected by CapEx reductions.
Additional CAD 200 million of D&C capital could be deferred in 2026 if commodity prices remain weak.
For every $0.10/Mcf AECO price increase, 2026 cash flow rises by CAD 45 million.
2026 OpEx guidance set at $4.50/BOE, with further cost reductions targeted by 2031.
EP Growth Plan targets 5% production CAGR from 2026–2031, with production rising to 800,000 boepd by 2031.
Gas capex reinstatement conditions?
Deep cut termination: future product mix strategy?
Mitigate JKM/AECO backwardation impact on reserves?
Rationale for terminating ethane recovery
Triggers for additional $200M capital deferral
Update on Alberta data center power opportunities
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Latest events from Tourmaline Oil
- Q2 delivered strong free cash flow, higher dividends, and strategic deferrals for future upside.TOU
Q2 20242 Feb 2026 - Q3 2024 saw robust cash flow and production growth, with 2025 guidance focused on efficiency and returns.TOUQ3 202415 Jan 2026
- Record Q1 production, major acquisitions, and strong cash flow drive robust 2025 outlook.TOUQ1 20258 Jan 2026
- Record production, earnings, and a 43% dividend hike set up strong 2025 growth and returns.TOUQ4 202416 Dec 2025
- Strong Q3 production, new LNG/storage deals, and disciplined capital amid volatile gas prices.TOUQ3 20257 Nov 2025
- Q2 2025 delivered strong growth, free cash flow, and a special dividend, with major expansion plans.TOUQ2 202531 Oct 2025
- NEBC expansion and capital discipline drive top-tier growth, cash flow, and shareholder returns.TOUCorporate Presentation31 Jul 2025
- Leading Canadian gas producer with top-tier reserves, efficiency, and shareholder returns.TOUCorporate Presentation3 Jul 2025
- Industry leader in scale, efficiency, returns, and environmental performance.TOUCorporate Presentation3 Jul 2025
Next Tourmaline Oil earnings date
Q1 20266 May, 2026
Tourmaline Oil
Next Tourmaline Oil earnings date
Q1 20266 May, 2026
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