Tourmaline Oil (TSE:TOU)
TSX:TOU
Earnings Data
Report Date
May 06, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1Last Year’s EPS
0.56Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution (record production, significant reserve additions, industry-leading drilling activity and improved well performance), meaningful cost and capital discipline (OpEx reductions, CapEx cuts, $765M asset sale used to reduce debt and fund BC build-out) and strategic enhancements (hedges, gas storage, MIQ certification, frac sand integration). Near-term challenges are dominated by weak AECO and West Coast pricing, a ~50,000 BOE/day reduction in pro forma production from the asset sale and ethane termination, and a one-time reserve cost recalibration that increased reported 2P F&D. Overall, positives (production, reserves, debt reduction, cost progress and strategic positioning) materially outweigh the near-term price-driven constraints and one-time accounting impacts.Company Guidance
Record Production and Strong Start to 2026
Q4 2025 delivered record corporate production and January 2026 averaged over 685,000 BOE/day (prior to the Peace River High sale). Q4 2025 record liquids production averaged 152,673 bbl/day.
Major Reserve Additions and Outstanding Replacement
Added 829 million BOE of 2P reserves in 2025 (including a corporate single-year organic 2P addition of 457 million BOE). Total proved reserves reached 3.26 billion BOE (up ~20% YoY) and 2P reserves eclipsed 6 billion BOE (up ~15% YoY). Reserve replacement was 356% for 2025.
Improved Financial Position and Cash Flow
Q4 cash flow of $890 million ($2.29 per diluted share) and full-year 2025 cash flow of $3.4 billion. Year-end 2025 net debt was $1.5 billion, down from $2.3 billion in Q3 2025 (≈35% reduction); long-term net debt target set at $1.75 billion.
Strategic Asset Sale and Use of Proceeds
Peace River High asset sale completed (Feb 2026) for $765 million; plan to allocate $500 million to permanent long-term debt reduction and $265 million to fund Phase 1 of BC infrastructure build-out over next two years.
CapEx Discipline and Immediate CapEx Reductions
'26 EP CapEx reduced by $350 million to $2.55 billion and non-EP cut by $50 million for a total $400 million reduction. Company identified an additional $200 million of D&C capital that could be deferred if prices remain weak. Q4 2025 EP CapEx was $813 million (within guidance).
Cost Reduction and Margin Improvement Progress
Q4 OpEx was $4.66/BOE, down 3% from Q3 2025 and down ~9% from H1 2025 ($5.14/BOE). 2026 OpEx guidance is $4.50/BOE. Company increased long-term operating & transport cost reduction target from $1.00/BOE to $1.50/BOE by 2031 and has already achieved ~ $0.70/BOE since H1 2025. Vertical integration of frac sand expected to save at least $40 million/year.
Operational Execution and Strong Well Performance
Drilled 320 gross wells in 2025 and led Canadian industry with 1.7 million meters drilled. BC Montney gas condensate complex well performance was ~22% higher in 2025 compared to the previous 5-year average (IP90 basis for 102 wells). Lateral lengths increasing (average ~8,400 completed lateral feet, +1,100 ft vs 2024) and D&C cost/ft now in decline in key areas.
Marketing, Hedging and Storage Enhancements
Approximately 880 MMcf/day hedged in 2026 at a weighted average fixed price of CAD 4.54/Mcf. Long-term storage agreement with AltaGas provides access to 6 Bcf (starting April 2026) increasing to 10 Bcf in mid-2027 (10-year term) to improve financial/operational flexibility. Physical exposure to premium eastern markets (~370 MMcf/day in Q1) provided uplift to Q1 cash flow.
Environmental Certification and Integration Wins
Achieved Grade A MIQ methane certification across the entire Northeast BC asset base — first Canadian company certified under MIQ and the first to certify integrated gas production and processing facilities, supporting ESG credentials and market access.
TSE:TOU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:TOU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | C$65.65 | C$61.43 | -6.43% |
Nov 05, 2025 | C$60.50 | C$58.79 | -2.84% |
Jul 30, 2025 | C$60.83 | C$57.00 | -6.29% |
May 07, 2025 | C$60.76 | C$59.06 | -2.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Tourmaline Oil (TSE:TOU) report earnings?
Tourmaline Oil (TSE:TOU) is schdueled to report earning on May 06, 2026, TBA (Confirmed).
What is Tourmaline Oil (TSE:TOU) earnings time?
Tourmaline Oil (TSE:TOU) earnings time is at May 06, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:TOU EPS forecast?
TSE:TOU EPS forecast for the fiscal quarter 2026 (Q1) is 1.