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Tourmaline Oil Meets Guidance in Q1 Oil, Gas Output

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-- Toronto-listed Tourmaline Oil produced an average 666,089 barrels of oil equivalent per day in Q1, 2026, close to its guidance midpoint and above the 620,000 to 640,000 boe/d it expects to produce in 2026 overall, it said on Wednesday in an earnings update.

The natural gas component within this production totaled 3.13 billion cubic feet per day, up 7% from 2.94 billion cubic feet per day in Q1, 2025.

That full-year production figure accounts for the impact of Tourmaline's sale of the Peace River High asset and the expiry of discretionary Alberta Deep Basin ethane extraction contracts and a $175 million reduction in its 2026 exploration and production capital budget.

The company expects production in Q2 to average between 595,000 and 605,000 boe/d, it said.

The company expects projects in the NEBC infrastructure buildout to start in Q4 and for the start-up of Groundbirch deep cut plant to occur in Q4, 2027.

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