07:12:03 EDT Sat 18 May 2024
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Tourmaline Oil Corp
Symbol TOU
Shares Issued 339,046,951
Close 2023-05-10 C$ 55.90
Market Cap C$ 18,952,724,561
Recent Sedar Documents

Globe/wire say Crescent Point, rival restart production

2023-05-11 07:45 ET - In the News

See In the News (C-CPG) Crescent Point Energy Corp

The Globe and Mail reports in its Thursday, May 11, edition that Crescent Point Energy and Tourmaline Oil restarted shuttered production on Wednesday. A Reuters dispatch to The Globe reports that producers shut in at least 319,000 barrels of oil equivalent per day, or 3.7 per cent of the country's production, earlier this week as more than 100 fires ignited across Alberta, forcing nearly 30,000 people to flee their homes. By Wednesday there were 78 active wildfires across the province, of which 24 were classed as out-of-control, and nearly 18,000 people remained under evacuation orders. Producers Crescent Point Energy and Tourmaline Oil restarted facilities that had been shut down as a precaution. Crescent Point shut in 45,000 barrels of oil equivalent per day in the Kaybob Duvernay region in response to the wildfires but said it has since restored approximately 75 per cent of that production with no damage to its assets. The company "plans to fully restore the remaining production once it is safe to do so," Crescent Point said. Tourmaline said seven of its nine facilities that were shut in because of wildfires have resumed operations and are back to previous production rates.

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