Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Tourmaline Touts Record Cash Flow in First Quarter
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Tourmaline Oil Corp. has reported record financial and operating results for the first quarter of 2014.
Highlights Record cash flow of $252.6 million in the first quarter of 2014, a 117% increase over first quarter 2013 cash flow of $116.6 million. First quarter 2014 earnings of $89.9 million, a 72% increase over first quarter of 2013. Record first quarter 2014 average production of 102,563 boepd, a 49% increase over average production for first quarter of 2013, and a 19% increase over the fourth quarter of 2013. Record oil and liquid production at 8,690 bopd of oil and 6,207 boepd of NGLs or 15% of total corporate boepd. 20 of 21 Q1 2014 Deep Basin horizontals with 30 days of production history have a 30-day IP rate of 10.2 mmcfpd, compared to the current Company template forecast of…- ✓ Full news archive — U.S., Canada & international coverage
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