{
  "schemaVersion": 1,
  "organisationId": "O-dfa546b3e19c4b579d426c291e32ce5f",
  "slug": "tourmaline-oil",
  "name": "TOURMALINE OIL CORP",
  "updatedAt": "2026-09-28T14:37:18.407911Z",
  "sections": [
    {
      "type": "OVERVIEW",
      "text": "Tourmaline Oil Corp. is a Canadian oil and gas producer focused on developing and producing natural gas, crude oil, condensate and natural gas liquids. Its principal operating areas are the Deep Basin, Spirit River and BC Montney. The company’s business is centered on developing these resources and selling the resulting production. [P134755409][P134754521][P134754299]\n\nNatural gas accounts for most of Tourmaline’s production volume. In 2025, it produced an average of approximately 638,000 barrels of oil equivalent per day and recorded C$4.94 billion in sales from production. Its producing assets are in Canada, while its natural-gas sales are exposed to Canadian, U.S. and international market prices. [T15408630][P134754047][P134754630]\n[P134755409][P134754521][P134754299][T15408630][P134754047][P134754630]",
      "updatedAt": "2026-09-28T14:37:18.407911Z"
    },
    {
      "type": "PRODUCTS",
      "text": "Tourmaline Oil Corp’s products are natural gas, crude oil, condensate and natural gas liquids (NGLs). It reports oil, condensate and NGLs as a combined liquids category rather than providing separate production figures or technical specifications for each product. In 2025, natural gas accounted for approximately 77% of production and the combined liquids category for 23%, measured in barrels of oil equivalent using the company’s 6:1 gas conversion ratio; these are production shares, not revenue shares. [P134754553][T15408630][P134754945]\n\nTourmaline also markets its natural gas through physical supply agreements with different delivery points and pricing terms. These include agreements priced by reference to international LNG benchmarks, under which Tourmaline delivers natural gas at North American points rather than selling liquefied natural gas itself. [P134755474][P134755481]\n[P134754553][T15408630][P134754945][P134755474][P134755481]",
      "updatedAt": "2026-09-28T14:37:18.407911Z"
    },
    {
      "type": "GEOGRAPHY",
      "text": "Tourmaline Oil Corp.’s producing assets are grouped into the Deep Basin, Spirit River and BC Montney regions. Its Deep Basin operations include assets in Alberta, while its BC Montney assets include properties at Groundbirch, British Columbia. The company’s registered office is in Calgary, Alberta. [P134754521][P134754039][P134754156][P134754419]\n\nTourmaline sells natural gas into markets beyond Alberta and British Columbia, identifying delivery or pricing markets including Sumas, PG&E Malin and Citygate, Chicago Citygate, Ventura and Dawn. Some supply agreements deliver gas at North American points while linking the price to international indices such as TTF and JKM; those indices do not necessarily indicate where the gas is physically sold. The available revenue disclosure does not provide a breakdown by country or region. [P134754048][P134754651][T15408676]\n[P134754521][P134754039][P134754156][P134754419][P134754048][P134754651][T15408676]",
      "updatedAt": "2026-09-28T14:37:18.407911Z"
    },
    {
      "type": "SEGMENTS",
      "text": "Tourmaline does not disclose a percentage breakdown of production by operating area in the available reporting. For impairment testing, it groups assets into three cash-generating units—Deep Basin, Spirit River and BC Montney. These are accounting groupings, not a disclosed set of reportable business segments with separate revenue or production figures. [P134755382]\n\nA product-based view offers an approximate split of activity: in 2024, natural gas accounted for about 76% of production on a barrel-of-oil-equivalent basis, while oil, condensate and natural gas liquids together accounted for about 24%. These are company-wide production shares, not shares attributable to the three cash-generating units. Spirit River contains the majority of Tourmaline’s oil production. [P134755153][P134754945][P134754039]\n[P134755382][P134755153][P134754945][P134754039]",
      "updatedAt": "2026-09-28T14:37:18.407911Z"
    },
    {
      "type": "HISTORY",
      "text": "Tourmaline Oil Corp. was incorporated in Alberta on July 21, 2008. [P134755356] Its later expansion included the acquisition of Rising Star Resources in August 2022 and Bonavista Energy in November 2023. [P134690440][P134689966]\n\nIn October 2024, Tourmaline acquired Crew Energy, continuing its growth through acquisitions. [P134755049]\n[P134755356][P134690440][P134689966][P134755049]",
      "updatedAt": "2026-09-28T14:37:18.407911Z"
    }
  ],
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      "id": "P134755409",
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}