Tourmaline closed a $193.1 mm equity financing, issuing 4.9 mm shares at $39.50, and subsequently increasing its 2015e E&D capital
program to $1.350 billion from $1.200 billion previously. Incorporating these events into our forecast, framed within a revised commodity price forecast that realistically does not influence any changes to prior financial projections all else equal, we observe a 2% increase to 2016e CFPS as elevated 2015e investment lifts our 2016e volumes estimates.
25 Jun 2015
Tourmaline Closes $193 mm Equity Offering, Increases 2015e E&D Capital Investment to $1.350 Billion
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Tourmaline Closes $193 mm Equity Offering, Increases 2015e E&D Capital Investment to $1.350 Billion
Tourmaline Oil Corp. (TOU:TSE) | 0 0 2.9% | Mkt Cap: 5,137m
- Published:
25 Jun 2015 -
Author:
Robert Fitzmartyn -
Pages:
6
Tourmaline closed a $193.1 mm equity financing, issuing 4.9 mm shares at $39.50, and subsequently increasing its 2015e E&D capital
program to $1.350 billion from $1.200 billion previously. Incorporating these events into our forecast, framed within a revised commodity price forecast that realistically does not influence any changes to prior financial projections all else equal, we observe a 2% increase to 2016e CFPS as elevated 2015e investment lifts our 2016e volumes estimates.