BRIEF-Tourmaline Qtrly loss per share $0.34

Wed Aug 3, 2016 6:32pm EDT
 
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Aug 3 (Reuters) - Tourmaline Oil Corp

* Tourmaline achieves strong first half growth with a cash flow budget

* Qtrly revenue $247.1 million versus $298.7 million

* Q2 2016 average production of 185,812 boepd represents a 29% increase over q2 2015 production of 143,634 boepd

* Company remains on track for full-year 2016 average production of between 190,000 and 195,000 boepd

* Current 2017 production guidance of 215,000 boepd is based on a 12-rig drilling program

* Will expand 2017 drilling program should commodity prices generate incremental cash flow in excess of current 2017 forecast of $1.2 billion

* Expects strong second half 2016 production growth with over 100 new wells across all 3 core complexes coming on-stream prior to year-end

* Current 2017 production guidance of 215,000 boepd   Continued...