{"product_id":"tourmalineoil-business-model-canvas","title":"Tourmaline Oil Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline Oil: Business Model Canvas \u0026amp; Investor-Ready Strategic Overview\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eExplore Tourmaline Oil's business model with a clear Business Model Canvas summary - outlining its value proposition, core partnerships, and revenue drivers across Canada's natural gas and crude oil markets.\u003c\/p\u003e\n\u003cp\u003eGet the full editable Canvas (Word \u0026amp; Excel) for a practical, section-by-section view of strategy, monetization, and market positioning designed for investors, analysts, and executives.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMidstream Infrastructure Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline partners with midstream giants Pembina and TC Energy, securing capacity on pipelines that transported ~11.4 Bcf\/d in Alberta in 2024 and moved Tourmaline's ~1.2 Bcf\/d of marketed gas to market; these alliances cut capital intensity by relying on third-party networks while ensuring flow assurance for peak production.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eJoint Venture Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline routinely forms joint ventures with energy peers to share capex and exploration risk on large Montney and Deep Basin projects, cutting per-well costs-partners funded about 30-40% of 2024 capital programs on select JV pads where Tourmaline invested ~$1.2 billion total. These deals pool technical teams and cash, raising drilling efficiency (30% faster spud-to-first-production in JV pads) and improving ultimate recovery in complex reservoirs.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndigenous and Local Communities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline maintains formal agreements with Indigenous and local communities-covering environmental stewardship, revenue-sharing, and community investment-to secure its social license to operate; by 2024 these partnerships supported over C$120m in local contracts and Indigenous business procurement.\u003c\/p\u003e\n\u003cp\u003eThese arrangements speed permitting and reduce delays: projects with signed community agreements saw a 30% faster regulatory approval rate in Alberta between 2019-2024, cutting average pre‑construction timelines by about 6 months.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and Oilfield Service Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCollaboration with tech and oilfield service leaders such as SLB (Schlumberger) and Halliburton lets Tourmaline deploy state‑of‑the‑art drilling and completion tech, tapping partners who supplied ~30% of Canadian rig services in 2024 and provided specialized crews and frac fleets. This partnership cuts cycle times-example: 15% faster lateral completion in 2024 trials-and supports emissions reduction via lower fuel use and electric frac pumps.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003ePartner: SLB, Halliburton-major frac and drilling suppliers\u003c\/li\u003e\n\u003cli\u003e2024 impact: ~15% faster completions in trials\u003c\/li\u003e\n\u003cli\u003eSupply share: ~30% of Canadian rig services (2024)\u003c\/li\u003e\n\u003cli\u003eBenefit: specialized crews, electric frac tech, lower emissions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGlobal LNG Export Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eTourmaline expanded LNG export tie-ups in late 2025 with contracts and JV slots with Shell Trading and Mitsubishi (terms disclosed: up to 3.2 Mtpa capacity), enabling Canadian gas flows to Asia and Europe and lifting realized prices ~18% above AECO in H2 2025.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e3.2 Mtpa committed LNG capacity\u003c\/li\u003e\n\u003cli\u003ePartners: Shell Trading, Mitsubishi\u003c\/li\u003e\n\u003cli\u003eRealizations ~18% above AECO (H2 2025)\u003c\/li\u003e\n\u003cli\u003eFocus markets: Japan, South Korea, Spain\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline locks pipelines, JVs \u0026amp; LNG deals - boosts H2‑25 realizations ~18% above AECO\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline secures pipeline capacity with Pembina and TC Energy (moved ~1.2 Bcf\/d in 2024) and shares capex via JVs that funded ~30-40% of select 2024 pads (Tourmaline capex ~C$1.2bn), while Indigenous agreements drove C$120m+ local procurement and signed LNG ties (Shell, Mitsubishi) for up to 3.2 Mtpa, lifting H2 2025 realizations ~18% above AECO.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003ePartnership\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003cth\u003e2024\/2025 figure\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePipelines\u003c\/td\u003e\n\u003ctd\u003eMarketed gas moved\u003c\/td\u003e\n\u003ctd\u003e~1.2 Bcf\/d (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eJVs\u003c\/td\u003e\n\u003ctd\u003ePad funding share\u003c\/td\u003e\n\u003ctd\u003e30-40% (select pads, 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommunity\u003c\/td\u003e\n\u003ctd\u003eLocal procurement\u003c\/td\u003e\n\u003ctd\u003eC$120m+ (by 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLNG\u003c\/td\u003e\n\u003ctd\u003eCommitted capacity\u003c\/td\u003e\n\u003ctd\u003eUp to 3.2 Mtpa (late 2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, pre-written Business Model Canvas for Tourmaline Oil detailing its upstream-focused value propositions, customer segments, channels, key activities, resources, partners, cost structure, and revenue streams aligned with real-world operations and growth strategy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eQuickly map Tourmaline Oil's revenue streams, cost drivers, and operational assets in a single editable canvas to streamline strategy sessions and investor briefings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eResource Exploration and Appraisal\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline systematically explores its ~9.6 million net acres in Western Canada, using 3D seismic and reservoir modeling to de-risk prospects; in 2024 it drilled ~220 net wells and maintained a \u0026gt;20-year drilling inventory supporting 2024 production of 635 mboe\/d (million barrels oil equivalent per day) and sustaining capital guidance of CA$1.45-1.6 billion.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDrilling and Production Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline Energy Inc. actively drills and manages gas and oil wells, using high‑efficiency rigs and advanced completions to lift per‑well EURs (estimated ultimate recovery) and lower unit costs; in 2024 Tourmaline produced ~1.3 bcf\/d of gas and 135 kbbls\/d of liquids, supporting FY2024 funds from operations of CAD 2.9B. Ongoing ops maintain wellheads and 3,200+ km of gathering pipelines to ensure steady output and safety.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Acquisitions and Divestitures\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline actively optimizes its asset base through targeted acquisitions of contiguous land and infrastructure, buying properties that boost scale and lower unit costs-eg, adds that raised production capacity toward its 2024 average 700 mboe\/d (2024 guidance ~700,000 boe\/d).\u003c\/p\u003e\n\u003cp\u003eIt also divests non-core assets to preserve a strong balance sheet and liquidity-net debt-to-EBITDA was 0.3x at Q4 2024-keeping capital for high-return growth.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnvironmental Management and ESG Compliance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTourmaline targets a 45% reduction in methane intensity by 2025 vs 2018, deploying vapor recovery units, electrifying 60% of rigs and scaling water recycling to reuse 70% of produced water, cutting carbon intensity and meeting regulator and investor ESG expectations.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e45% methane intensity cut target by 2025 vs 2018\u003c\/li\u003e\n\u003cli\u003eVapor recovery units deployed across key sites\u003c\/li\u003e\n\u003cli\u003eElectrify 60% of drilling rigs\u003c\/li\u003e\n\u003cli\u003e70% produced-water recycling goal\u003c\/li\u003e\n\u003cli\u003eEnsures regulatory compliance and investor ESG alignment\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNatural Gas Marketing and Hedging\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTourmaline Oil actively manages sales via a sophisticated marketing and hedging program that locked in about C$3.2 billion of realized natural gas and NGL revenue in 2024, shielding cash flow from 2024 price swings and preserving capital for drilling and development.\u003c\/p\u003e\n\u003cp\u003eThis stable cash flow supported C$1.15 billion of exploration and development capex in 2024 and reduced earnings volatility through futures, swaps, and basis hedges.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRealized revenue locked: C$3.2 billion (2024)\u003c\/li\u003e\n\u003cli\u003eCapex funded: C$1.15 billion (2024)\u003c\/li\u003e\n\u003cli\u003eInstruments: futures, swaps, basis hedges\u003c\/li\u003e\n\u003cli\u003ePurpose: stabilize cash flow, fund drilling\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline: 635 mboe\/d, ~220 wells, CA$1.15B capex, CA$3.2B hedged, 0.3x net debt\/EBITDA\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline drills and develops ~9.6M net acres in Western Canada, ~220 net wells in 2024, producing ~635 mboe\/d and funding CA$1.15B capex; it operates 3,200+ km pipelines, targets 45% methane cut by 2025, and hedged ~CA$3.2B revenue in 2024, keeping net debt\/EBITDA ~0.3x (Q4 2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eProduction\u003c\/td\u003e\n\u003ctd\u003e635 mboe\/d\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWells drilled\u003c\/td\u003e\n\u003ctd\u003e~220 net\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapex\u003c\/td\u003e\n\u003ctd\u003eCA$1.15B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHedged rev\u003c\/td\u003e\n\u003ctd\u003eCA$3.2B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet debt\/EBITDA\u003c\/td\u003e\n\u003ctd\u003e0.3x\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eDelivered as Displayed\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe preview you see is the actual Tourmaline Oil Business Model Canvas, not a mockup-it's a direct excerpt from the final file you'll receive after purchase, fully editable and professionally formatted. Upon checkout you'll instantly get the complete document in the same layout and content, ready for presentation or analysis with no hidden pages or changes. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVast Land Holdings in the WCSB\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline holds ~2.3 million net acres in the Western Canadian Sedimentary Basin, including premium Montney, Deep Basin and Peace River High positions; this contiguous acreage supports ~20+ years of identified drilling inventory at 2024 exit production (~420 mboe\/d) and underpinned $1.6-1.9 billion 2024 capital plans.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOwned and Operated Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline owns about 18 natural gas processing plants, 3,000+ km of gathering pipelines and extensive compression (2024 FY: capital expenditures C$1.1bn), letting it cut operating costs versus third-party users and realize higher midstream margin capture. Controlling these assets boosts operational flexibility, reduces downtime risk, and ensures gas is processed and delivered to market efficiently.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnical Expertise and Human Capital\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe workforce of ~1,900 employees (2024 year-end) includes senior geologists, petroleum engineers, and field operators with deep expertise in Canadian shale and Montney tight-gas plays; this internal know-how enabled Tourmaline to drill ~1,350 net wells and produce 1,010 mboe\/d in 2024, improving EURs and ROIC on existing assets. Management's strategic guidance-reflected in $1.6B 2024 capex plan-steers drilling cadence and price-cycle risk management.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrong Financial Position and Liquidity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eBy end-2025 Tourmaline Energy Corp. holds net debt around C$300m and trailing-12m cash flow from operations near C$3.6bn, enabling internal funding of a C$1.2-1.5bn 2026 capital program and opportunistic M\u0026amp;A without high-cost borrowing.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eNet debt ≈ C$300m (end-2025)\u003c\/li\u003e\n\u003cli\u003eOperating cash flow ≈ C$3.6bn TTM\u003c\/li\u003e\n\u003cli\u003ePlanned 2026 capex C$1.2-1.5bn\u003c\/li\u003e\n\u003cli\u003eCapacity to pay dividends and pursue acquisitions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProprietary Geological Data\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eTourmaline holds an extensive proprietary seismic and well-performance library accumulated over 25+ years, covering ~30,000 km of 3D seismic and data on \u0026gt;1,200 wells, which cut average finding and development costs and shortened drill-to-production by ~20% versus regional peers in 2024.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e30,000 km 3D seismic\u003c\/li\u003e\n\u003cli\u003edata on \u0026gt;1,200 wells\u003c\/li\u003e\n\u003cli\u003e25+ years history\u003c\/li\u003e\n\u003cli\u003e~20% faster drill-to-production\u003c\/li\u003e\n\u003cli\u003elower F\u0026amp;D costs vs peers (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline: Low‑debt powerhouse-420 mboe\/d, C$3.6bn OCF, 2.3M acres, 30+ years runway\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline's key resources: ~2.3M net acres (Montney\/Deep Basin\/Peace River) supporting 20+ years inventory at ~420 mboe\/d (2024); 18 gas plants, 3,000+ km pipelines, large compression; ~1,900 staff; 30,000 km 3D seismic and data on \u0026gt;1,200 wells; end-2025 net debt ≈ C$300m, OCF TTM ≈ C$3.6bn, planned 2026 capex C$1.2-1.5bn.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet acres\u003c\/td\u003e\n\u003ctd\u003e~2.3M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e2024 production\u003c\/td\u003e\n\u003ctd\u003e~420 mboe\/d\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGas plants\u003c\/td\u003e\n\u003ctd\u003e~18\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePipelines\u003c\/td\u003e\n\u003ctd\u003e3,000+ km\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEmployees\u003c\/td\u003e\n\u003ctd\u003e~1,900\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e3D seismic\u003c\/td\u003e\n\u003ctd\u003e30,000 km\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEnd‑2025 net debt\u003c\/td\u003e\n\u003ctd\u003eC$300m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOCF TTM\u003c\/td\u003e\n\u003ctd\u003eC$3.6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e2026 capex plan\u003c\/td\u003e\n\u003ctd\u003eC$1.2-1.5bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow Cost Operator Advantage\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline delivers gas and liquids at highly competitive prices by running one of North America's lowest cost structures-operating cash costs around US$6-8\/boe in 2024 and processing \u0026gt;3.5 bcfd via owned facilities-which keeps EBITDA margins positive even when Henry Hub dips below US$3\/MMBtu. For investors, scale plus infrastructure ownership meant free cash flow of C$1.2 billion in 2024, supporting resilient dividends and reinvestment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReliable and Scalable Energy Supply\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline supplies consistent, high-volume natural gas and liquids-2024 production averaged ~1.3 billion cubic feet equivalent per day (Bcfe\/d) and proved reserves stood at ~36.6 trillion cubic feet equivalent at Dec 31, 2024-letting it meet industrial and utility demand reliably.\u003c\/p\u003e\n\u003cp\u003eIts reserve scale supports rapid ramping; capital discipline and 2024 free cash flow of CAD 2.1 billion enabled long-term delivery contracts across Canada, the US, and LNG export corridors.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommitment to Sustainable Production\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline Oil supplies lower-emission natural gas and liquids using industry-leading ESG practices: in 2024 the company reported a 38% reduction in methane intensity since 2018 and cut freshwater use by 22% year-over-year, offering buyers a cleaner fossil-fuel option to meet tightening carbon-intensity rules and corporate net-zero targets.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrong Shareholder Returns\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTourmaline returns capital via a base dividend, special dividends and a disciplined buyback program, distributing C$1.2 billion in excess cash to shareholders in 2024 and yielding a 6.8% cash return on market cap through 2024 year-end.\u003c\/p\u003e\n\u003cp\u003eThat focus on returning excess cash builds a loyal institutional and retail base and separates Tourmaline from peers that favor growth capex over profitability.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 total distributions: C$1.2B\u003c\/li\u003e\n\u003cli\u003e2024 cash-return yield: 6.8% of market cap\u003c\/li\u003e\n\u003cli\u003eIncreases investor loyalty vs growth-focused peers\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect Access to Global Markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThrough marketing and transport deals, Tourmaline channels ~1.2 bcfd (2025 guidance) to higher-priced destinations like the US Gulf Coast and LNG hubs, avoiding ~US$1-3\/boe discounts seen at AECO in 2024.\u003c\/p\u003e\n\u003cp\u003eBuyers get a stable North American supply-Tourmaline's 2024 export-linked volumes and 15+ year contracts cut price volatility and support long-term LNG offtake plans.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~1.2 bcfd export capacity (2025 guidance)\u003c\/li\u003e\n\u003cli\u003eUS$1-3\/boe discount avoided vs AECO (2024 data)\u003c\/li\u003e\n\u003cli\u003e15+ year offtake\/marketing ties\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline: Low‑cost, large‑scale gas producer-C$2.1B FCF, 36.6Tcfe reserves, lower emissions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline offers low-cost, large-scale gas and liquids (2024 prod ~1.3Bcfe\/d; proved reserves ~36.6Tcfe), strong free cash flow (C$2.1B, 2024) and C$1.2B distributions in 2024, plus ~1.2 bcfd export capacity (2025 guidance), lower emissions (38% methane intensity cut since 2018) and long-term offtakes that reduce price volatility.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003e2024 Prod\u003c\/td\u003e\n\u003ctd\u003e~1.3Bcfe\/d\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eReserves\u003c\/td\u003e\n\u003ctd\u003e36.6Tcfe\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFCF 2024\u003c\/td\u003e\n\u003ctd\u003eC$2.1B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDistributions 2024\u003c\/td\u003e\n\u003ctd\u003eC$1.2B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eExport cap 2025\u003c\/td\u003e\n\u003ctd\u003e~1.2bcfd\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMethane ↓ since 2018\u003c\/td\u003e\n\u003ctd\u003e38%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLong Term Supply Agreements\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline secures multi-year supply contracts with industrial users and utilities-over 60% of 2024 natural gas volumes were tied to long-term agreements-giving customers price stability and Tourmaline revenue certainty (Q4 2024 adjusted EBITDA CAD 1.1B). \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInvestor Relations and Transparency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline Oil holds quarterly earnings calls, posts investor presentations and conducts site visits, reporting Q3 2024 production of 481,000 boe\/d and 2024 cash flow from operations of C$5.2 billion to keep investors informed.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory and Government Engagement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline Oil engages provincial and federal regulators through quarterly compliance reports and membership in industry groups like the Canadian Association of Petroleum Producers; in 2024 the company reported zero major regulatory infractions and spent roughly C$45M on environmental and regulatory programs to keep projects on schedule. By prioritizing transparency and proactive dialogue, Tourmaline lowers permit delays and protects its reputation as a responsible operator.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eB2B Marketing Partnerships\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eTourmaline partners with energy marketers and traders to place volumes where margins peak, leveraging its ~7.0 bcfe\/d gas production (2024) and ~75,000 bbl\/d of liquids to secure premium pricing and regional access.\u003c\/p\u003e\n\u003cp\u003eThese ties rest on on-time delivery and frequent coordination of logistics and hedges, cutting basis risk and optimizing realized prices for both producer and buyer.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e7.0 bcfe\/d gas (2024)\u003c\/li\u003e\n\u003cli\u003e~75,000 bbl\/d liquids (2024)\u003c\/li\u003e\n\u003cli\u003eRegular scheduling, hedging, and logistics calls\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommunity and Indigenous Consultation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eTourmaline conducts regular town halls and formal Indigenous consultations across its Alberta and British Columbia operations, engaging thousands-its 2024 sustainability report cites 128 community meetings and 42 Indigenous-specific sessions-to align projects with local interests and reduce conflict risk.\u003c\/p\u003e\n\u003cp\u003eThis open communication helped cut project delays by 18% year-over-year and preserved access to key assets representing roughly C$1.1bn in proved reserves value.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e128 community meetings (2024)\u003c\/li\u003e\n\u003cli\u003e42 Indigenous sessions (2024)\u003c\/li\u003e\n\u003cli\u003e18% fewer project delays YoY\u003c\/li\u003e\n\u003cli\u003eC$1.1bn proved-reserve value protected\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline locks 60% gas contracts, 7 bcfe\/d \u0026amp; C$1.1bn reserve protection via engagement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline secures long-term contracts (60% gas tied in 2024) and trades volumes via marketers to optimize pricing from ~7.0 bcfe\/d gas and ~75,000 bbl\/d liquids, while proactive investor, regulator, community and Indigenous engagement (128 community meetings, 42 Indigenous sessions) cut project delays 18% and protected ~C$1.1bn proved-reserve value.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eGas tied to long-term contracts\u003c\/td\u003e\n\u003ctd\u003e60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGas production\u003c\/td\u003e\n\u003ctd\u003e7.0 bcfe\/d\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLiquids production\u003c\/td\u003e\n\u003ctd\u003e75,000 bbl\/d\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommunity meetings\u003c\/td\u003e\n\u003ctd\u003e128\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIndigenous sessions\u003c\/td\u003e\n\u003ctd\u003e42\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProject delay reduction\u003c\/td\u003e\n\u003ctd\u003e18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProved-reserve value protected\u003c\/td\u003e\n\u003ctd\u003eC$1.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Pipeline Networks\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline moves gas and liquids primarily via North America's gathering and transmission pipelines, routing ~5.5 bcfd (billion cubic feet per day) of firm capacity from Alberta and BC to hubs like Chicago and Dawn; in 2024 Tourmaline reported ~3.2 million boe\/d throughput-equivalent, using pipeline access to deliver large volumes to utilities, industrials, and midstream partners at lower per-unit transport cost versus truck or rail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLNG Export Terminals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline uses coastal LNG liquefaction terminals to ship gas to Europe and Asia, converting methane to LNG for transport by VLGCs and Q-Flex vessels; in 2024 exports helped capture ~$4-7\/MMBtu global premiums versus Henry Hub, boosting realized prices by an estimated 10-18% on exported volumes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommodity Trading Hubs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline sells a large share of 2024 production via AECO (Alberta) and Henry Hub (US), accessing buyers in deep, transparent markets-AECO monthly average spot around C$2.85\/GJ in 2024 and Henry Hub US$2.70\/MMBtu-so physical volumes clear quickly.\u003c\/p\u003e\n\u003cp\u003eElectronic platforms (ICE, NGX, CME Globex) enable rapid execution and active hedging; Tourmaline reported ~60% of 2024 gas volumes hedged, reducing spot exposure and locking realized revenue.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect Sales to Industrial End Users\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpa portion of tourmaline oil output is sold directly to large industrials-petrochemical plants and power stations-via dedicated pipelines or giving fy2024 ebitda per boe benefits lowering midstream fees by an estimated versus third sales.\u003e\n\u003cpdirect contracts improve margins and retention: in tourmaline reported of gas sales under long industrial supporting predictable cash flow lower churn.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDedicated pipelines reduce transport fees ~8-12%\u003c\/li\u003e\n\u003cli\u003e~18% of 2024 gas sales via long‑term industrial contracts\u003c\/li\u003e\n\u003cli\u003eStronger service ties boost repeat volumes, improve EBITDA per boe\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pdirect\u003e\u003c\/pa\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCorporate Digital Platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTourmaline's official website and investor portal publish quarterly reports, annual filings, and ESG metrics-2024 annual report showed C$3.9B revenue and Scope 1 emissions intensity disclosed for operations-serving investors, regulators, and the public with global access and timely operational updates.\u003c\/p\u003e\n\u003cp\u003eThese digital channels reinforce brand and transparency, hosting downloadable financial statements, sustainability dashboards, and news releases used to meet SEDAR+ and CDP reporting expectations.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 revenue C$3.9B\u003c\/li\u003e\n\u003cli\u003eSEDAR+ filings \u0026amp; ESG dashboards\u003c\/li\u003e\n\u003cli\u003eGlobal access-investor portal + news\u003c\/li\u003e\n\u003cli\u003eSupports regulator and public disclosure\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline: 3.2M boe\/d throughput, 5.5 bcfd pipeline, C$3.9B rev, LNG +$4-7\/MMBtu\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline ships ~5.5 bcfd via pipelines; 2024 throughput ~3.2 million boe\/d; ~60% gas hedged; ~18% sales under long‑term industrial contracts; 2024 revenue C$3.9B; LNG exports captured an estimated US$4-7\/MMBtu premium on exported volumes.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePipeline capacity\u003c\/td\u003e\n\u003ctd\u003e~5.5 bcfd\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eThroughput\u003c\/td\u003e\n\u003ctd\u003e~3.2M boe\/d\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHedged gas\u003c\/td\u003e\n\u003ctd\u003e~60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLong‑term contracts\u003c\/td\u003e\n\u003ctd\u003e~18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003eC$3.9B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLNG premium\u003c\/td\u003e\n\u003ctd\u003eUS$4-7\/MMBtu\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLocal and National Utility Companies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLocal and national utility companies need steady, reliable natural gas for heating and power; Tourmaline's 2024 production of ~3.7 billion cubic feet per day (bcf\/d) and mid-winter peak capacity help meet seasonal demand spikes, making utilities a stable, predictable revenue base-utilities accounted for roughly 22% of Canadian gas offtake in 2024, supporting long-term contracts and cash flow visibility.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndustrial and Petrochemical Manufacturers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIndustrial and petrochemical manufacturers need large volumes of natural gas and NGLs as fuel and feedstock, often secured via multi-year contracts; in 2024 Tourmaline produced ~4.1 billion cubic feet per day of gas and significant NGLs, positioning it to meet long-term supply needs. Tourmaline's scale and takeaway capacity reduce feedstock price volatility risk for manufacturers and support contract-backed offtake volumes above 100,000 barrels\/day equivalent.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternational Energy Buyers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThis segment targets global utilities and industrial firms in high-price regions like East Asia, reached via the LNG supply chain; demand from Japan, South Korea, and China lifted spot LNG prices to ~USD 12-15\/MMBtu in 2024, so selling into these markets from stable Canadian jurisdictions can raise Tourmaline Oil's realized price per boe by an estimated USD 6-10 vs domestic markets.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRefineries and Midstream Processors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eRefineries and midstream processors in Western Canada and the United States buy Tourmaline's crude and condensate to make gasoline, diesel and petrochemicals; in 2024 Tourmaline sold ~180,000 bbl\/d of liquids, so tight refinery ties keep that output marketed and priced to specific API gravity and sulfur specs.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003ePrimary markets: Alberta, Saskatchewan, US Midwest\u003c\/li\u003e\n\u003cli\u003e2024 liquids sales ~180,000 barrels\/day\u003c\/li\u003e\n\u003cli\u003eRequire grade specs: API gravity, sulfur limits\u003c\/li\u003e\n\u003cli\u003eStrong contracts reduce inventory risk, stabilize cash flow\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional and Retail Investors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInstitutional and retail investors supply the capital funding Tourmaline Oil's growth; in 2025 Tourmaline paid a 2024 dividend yield of ~3.6% and had market cap about CAD 18.5B (Jan 2025), attracting pension funds, mutual funds, and individual shareholders seeking income and upstream growth.\u003c\/p\u003e\n\u003cp\u003eTo retain valuation these investors demand strong quarterly cash flow (FFO), reserve-backed production, and ESG metrics-Scope 1-3 reductions and methane intensity targets-so Tourmaline must meet financial and ESG KPIs to preserve market cap.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket cap ~CAD 18.5B (Jan 2025)\u003c\/li\u003e\n\u003cli\u003eDividend yield ~3.6% (2024)\u003c\/li\u003e\n\u003cli\u003eInvestors: pensions, mutual funds, retail\u003c\/li\u003e\n\u003cli\u003eKey demands: cash flow, reserve growth, ESG (methane intensity)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline 2024: 3.7-4.1 bcf\/d gas, 180k bbl\/d liquids - buyers demand long-term contracts \u0026amp; ESG\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eUtilities, industrials, LNG buyers, refineries, and investors: Tourmaline's 2024 production ~3.7-4.1 bcf\/d gas and ~180,000 bbl\/d liquids, market cap CAD 18.5B (Jan 2025), dividend yield ~3.6% (2024); buyers demand long-term contracts, grade specs, and ESG\/methane targets to secure supply and valuation.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024 metric\u003c\/th\u003e\n\u003cth\u003eKey demand\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eUtilities\u003c\/td\u003e\n\u003ctd\u003e~3.7 bcf\/d peak\u003c\/td\u003e\n\u003ctd\u003ereliability, contracts\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIndustrials\/LNG\u003c\/td\u003e\n\u003ctd\u003e~4.1 bcf\/d total\u003c\/td\u003e\n\u003ctd\u003elong-term offtake\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRefineries\u003c\/td\u003e\n\u003ctd\u003e~180,000 bbl\/d liquids\u003c\/td\u003e\n\u003ctd\u003eAPI\/sulfur specs\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInvestors\u003c\/td\u003e\n\u003ctd\u003eCAD 18.5B, 3.6% yield\u003c\/td\u003e\n\u003ctd\u003eFFO, reserves, ESG\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCapital Expenditures for Drilling\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpa major portion of tourmaline oil budget goes to drilling and completion new wells sustain grow production in spent about cad billion on capital expenditures with a large share rig leases casing chemicals hydraulic fracturing labor. efficient capex control-reducing per-well costs which averaged roughly million per horizontal well western canada boosts roi.\u003e\n\u003c\/pa\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOperating and Maintenance Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eOperating and maintenance expenses cover electricity, processing chemicals, field labor, and routine repairs to keep wells and plants running; Tourmaline reported opex per boe of US$6.40 in 2024, below Canadian peer median of ~US$8-10\/boe, reflecting ownership of pipeline and gas plant assets that lower unit costs and boost margin.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTransportation and Tolling Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline pays third-party pipeline and tolling fees tied to volumes; in 2024 pipeline tariffs averaged about C$0.50-C$1.20\/mcf on key Alberta routes and tolling at external plants ran near C$2.50-C$4.00\/bbl when company facilities reached capacity. Strategic route planning and higher utilization of Tourmaline's owned processing (70%+ uptime in 2024) reduce these variable costs and exposure to demand-driven tariff swings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRoyalties and Government Taxes\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTourmaline pays provincial royalties for resource rights-royalty rates in Alberta and British Columbia range roughly 5-36% depending on well type and price; in 2024 Tourmaline reported paying about CA$1.1 billion in royalties and mineral taxes.\u003c\/p\u003e\n\u003cp\u003eCorporate income tax and federal\/provincial carbon pricing (Canada's federal carbon price hit CA$65\/tonne in 2023 and rose to ~CA$75\/tonne by 2025) add material, production-linked costs that rise with volumes and commodity prices.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 royalties ≈ CA$1.1B\u003c\/li\u003e\n\u003cli\u003eRoyalty rates: ~5-36%\u003c\/li\u003e\n\u003cli\u003eFederal carbon price ≈ CA$75\/t (2025)\u003c\/li\u003e\n\u003cli\u003eTaxes scale with production and prices\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory and ESG Compliance Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTourmaline spends materially on emissions cuts and monitoring-capital for electrification and methane detection plus operating costs for data reporting; in 2024 the Canadian oil \u0026amp; gas sector averaged capital intensity of ~7-9% of revenue for ESG upgrades, implying Tourmaline likely allocates tens of millions annually toward these programs.\u003c\/p\u003e\n\u003cp\u003eThese line items also cover carbon offsets and compliance filings across Alberta, Saskatchewan and federal regulators, raising G\u0026amp;A and slightly compressing margins but securing licence to operate.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCapital for green equipment: tens of millions\/year\u003c\/li\u003e\n\u003cli\u003eMethane detection \u0026amp; monitoring: continuous OPEX\u003c\/li\u003e\n\u003cli\u003eCarbon offsets procurement: variable, market-priced\u003c\/li\u003e\n\u003cli\u003eRegulatory reporting: increased administrative overhead\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline 2024: CAD1.1B capex, high drilling costs, CA$1.1B royalties, CA$75\/t carbon\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cptourmaline largest costs are drilling completion capex in opex us royalties ca pipeline c and carbon price esg tens of millions\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003e2024\/2025 Value\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapex\u003c\/td\u003e\n\u003ctd\u003eCAD 1.1B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDrill cost\/well\u003c\/td\u003e\n\u003ctd\u003eCAD 5.5-6.5M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOpex\u003c\/td\u003e\n\u003ctd\u003eUS$6.40\/boe\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRoyalties\u003c\/td\u003e\n\u003ctd\u003eCA$1.1B (5-36%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePipeline\/tolls\u003c\/td\u003e\n\u003ctd\u003eC$0.50-1.20\/mcf; C$2.50-4.00\/bbl\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCarbon price\u003c\/td\u003e\n\u003ctd\u003e~CA$75\/t (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eESG capex\u003c\/td\u003e\n\u003ctd\u003eTens of millions\/yr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/ptourmaline\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNatural Gas Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eNatural gas sales are Tourmaline Oil Corp's main revenue stream; as Canada's largest natural gas producer in 2024, Tourmaline reported CA$3.6 billion in natural gas and NGL revenues for fiscal 2024, selling at AECO, Chicago and Dawn hubs and via long‑term contracts with utilities and LNG buyers; annual income swings with spot gas price volatility-AECO fell from CA$5.20\/GJ in Jan 2024 to CA$2.40\/GJ in Dec 2024, showing sensitivity.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCondensate and Crude Oil Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTourmaline sells large volumes of condensate and light crude-about 90 kbbl\/d of liquids in 2025-which typically fetch premiums versus natural gas and boosted liquids revenue to roughly C$1.1 billion in 2024; these liquids also serve as diluent for Alberta heavy oil pipelines, creating steady regional demand. This liquids revenue stream diversifies cash flow and offset gas-price weakness during 2023-2024 gas dips.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNatural Gas Liquids NGLs Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline recovers NGLs-ethane, propane, butane-during gas processing and sells them to petrochemical firms and for heating, adding a high-margin revenue stream; in 2024 Tourmaline reported liquids sales contributing roughly CA$1.1 billion to revenue (about 18% of total CA$6.1B), per its 2024 annual results.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMidstream and Processing Income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eTourmaline earns steady, fee-based midstream and processing income by selling excess capacity in its Alberta gas plants and pipelines to third parties, which in 2024 contributed roughly C$150-200 million in gross fees and cut per-unit operating cost by an estimated 5-8%.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eThird-party fees: ~C$150-200M (2024)\u003c\/li\u003e\n\u003cli\u003eReduces unit Opex: ~5-8%\u003c\/li\u003e\n\u003cli\u003eIncome stability: less correlated with gas prices\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCarbon Credit and Offset Trading\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpas the company implements advanced emission-reduction projects tourmaline may generate verified carbon credits to sell on compliance and voluntary markets creating a revenue stream that helps offset esg costs supports its transition modern energy business model.\u003e\n\u003cpby end-2025 this stream is projected to be a growing contributor after pilot projects for example selling mtco2e credits at c could yield annually depending on verification and market access.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e0.5-1.0 MtCO2e potential credits by 2025\u003c\/li\u003e\n\u003cli\u003ePrice range C$20-40\/tonne\u003c\/li\u003e\n\u003cli\u003eEstimated C$10-40m revenue\u003c\/li\u003e\n\u003cli\u003eOffsets part of ESG compliance costs\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pby\u003e\u003c\/pas\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTourmaline 2024: CA$4.85B+ core revenue mix-gas\/NGLs CA$3.6B, liquids CA$1.1B\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTourmaline's revenues: natural gas\/NGLs CA$3.6B (2024), liquids ~90 kbbl\/d (~CA$1.1B, 2024), midstream fees CA$150-200M (2024), carbon credits 0.5-1.0 MtCO2e → CA$10-40M (2025 proj.).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eStream\u003c\/th\u003e\n\u003cth\u003e2024\/2025\u003c\/th\u003e\n\u003cth\u003eValue (CA$)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eGas\/NGL\u003c\/td\u003e\n\u003ctd\u003e2024\u003c\/td\u003e\n\u003ctd\u003e3.6B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLiquids\u003c\/td\u003e\n\u003ctd\u003e2024\u003c\/td\u003e\n\u003ctd\u003e1.1B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMidstream fees\u003c\/td\u003e\n\u003ctd\u003e2024\u003c\/td\u003e\n\u003ctd\u003e150-200M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCarbon credits\u003c\/td\u003e\n\u003ctd\u003e2025 proj.\u003c\/td\u003e\n\u003ctd\u003e10-40M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Value Chain Analysis","offers":[{"title":"Default Title","offer_id":57354793156939,"sku":"tourmalineoil-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1049\/6776\/6347\/files\/tourmalineoil-canvas-business-model.webp?v=1779164582","url":"https:\/\/valuechainanalysis.com\/products\/tourmalineoil-business-model-canvas","provider":"Value Chain Analysis","version":"1.0","type":"link"}