Tourmaline reported second quarter financial and operating results that were largely in line with our expectations though notable in the
maintenance of a low-cost growth premise. The Company has affirmed its 2015e guidance, maintaining a $1.4 billion E&D capital budget under continued employment of an 18-drilling rig operated fleet for 2H15e. We are lowering our 12-month target price to $52.50 per share and maintain our Outperform ranking.
06 Aug 2015
Tourmaline Announces Second Quarter Results, Off ers Strong Operational Update
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Tourmaline Announces Second Quarter Results, Off ers Strong Operational Update
Tourmaline Oil Corp. (TOU:TSE) | 0 0 2.9% | Mkt Cap: 5,137m
- Published:
06 Aug 2015 -
Author:
Robert Fitzmartyn -
Pages:
7
Tourmaline reported second quarter financial and operating results that were largely in line with our expectations though notable in the
maintenance of a low-cost growth premise. The Company has affirmed its 2015e guidance, maintaining a $1.4 billion E&D capital budget under continued employment of an 18-drilling rig operated fleet for 2H15e. We are lowering our 12-month target price to $52.50 per share and maintain our Outperform ranking.