May 4, 2017 / 9:12 PM / in 5 months

BRIEF-Tourmaline Oil reports Q1 EPS of C$0.37

May 4 (Reuters) - Tourmaline Oil Corp

* Tourmaline achieves strong earnings as well as record production and cash flow in the first quarter

* Q1 earnings per share c$0.37

* Q1 2017 production of 233,278 boepd, a 22% increase over prior quarter

* Q1 revenue rose 67 percent to c$466.6 million

* Tourmaline oil corp - current daily production is ranging between 240,000 - 245,000 boepd

* expects to bring approximately 32 new wells on production during q2

* first-half 2017 capital budget of $575.0 million will be less than or equal to first-half cash flow

* expects full year 2017 operating expenses per boe to increase slightly over q1 rate

* Tourmaline oil corp - anticipates delivering over 30% production growth in 2017 with full-year capital budget of $1.3 billion

* company’s average operating cost target is approximately $3.60/boe in 2017

* management believes company has sufficient resources to fund its 2017 exploration and development program Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below