Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
Tourmaline Confirms 2020 Plans; Spending Down, Production Flat
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Tourmaline Oil Corp. has confirmed its 2020 capital plans and production outlook for 2020.
Capital SummaryThe company is spending ~12% less from 2019 and aim to keep production relatively flat for 2020.
The company also detailed its 5-year plan, available below.
2020 EP maintenance capital is estimated to be $800 – 825 million, much lower than previous estimates.
Acquisition activity in 2020 will be funded via the additional funds raised through the creation of Topaz Energy Corp. Including the Tourmaline-owned equity position in Topaz, the Company has access to over $800 million for select acquisition activity. Production and cash flow(3) realized through acquisition activities will be incremental to the five-year plan.
Q4 Production UpdateSubsequently, an unplanned production…
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