The Globe and Mail reports in its Wednesday, Oct. 18, edition that ATB Capital Markets analyst Patrick O'Rourke has reaffirmed his "outperform" recommendation for Tourmaline Oil. The Globe's David Leeder writes in the Eye On Equities column that Mr. O'Rourke bumped his share target ahead by $2 to $92. Analysts on average target the shares at $83.03. Mr. O'Rourke says Tourmaline's $1.45-billion acquisition of Bonavista Energy further bolsters and consolidates its position as the largest producer in Alberta's Deep basin, "adding decades of inventory, and becoming immediately accretive to its free cash flow profile." Mr. O'Rourke says in a note: "Overall, we view the event as positive. ... The purchase will include over 60.0 mboe/d [thousand barrels of oil equivalent per day] (36-per-cent liquids), 656.7 net locations, and 1.2 million net acres of land rights, with $450-million in cash flow expected per year over the next three years, based on current strip pricing. The reserves are valued at a 2P NPV10 of $3.3-billion and PDP NPV10 of $1.4-billion, based on total 2P and PDP reserves of 459 mmboe and 151 mmboe, respectively, and TOU's proforma 2023e year-end production is now expected to exceed 600 mboe/d."