Strategy
Tourmaline’s long-term business strategy is to increase shareholder value by building a sustainable and extensive asset base over the three core exploration and production areas and developing these areas to increase reserves, production and cash flows with an attractive return on invested capital. The Company seeks to execute this strategy through the following:
Conventional EP Program
Tourmaline focuses on selecting premium subsurface targets and continually reducing capital and cash costs as the development plans are executed. Through continuous engineering design improvements in all aspects of drilling and completions operations, Tourmaline's normalized corporate drilling and completion costs per lateral foot are less than 2018 levels.
Focused on Core Assets
The Company drives efficiencies by focusing on three core areas: the Alberta Deep Basin, Northeast British Columbia Montney and the Peace River Triassic Oil Complex. All three areas are completely derisked via approximately 2,640 wells drilled by Tourmaline since commencing operations.
Operational & Cost Efficiencies
Tourmaline has built an operating and EP execution team that we believe is the best in the sector. The Company drills the lowest cost completed and stimulated horizontal wells across all three core operating complexes. This efficient and low cost EP capability allows Tourmaline to compete in almost any future commodity price environment.
Extensive Midstream Infrastructure
Tourmaline has systematically built company owned and operated infrastructure in all three core complexes since 2010. The Company has 31 working interest gas plants, 18 wholly owned and operated gas plants, associated in-field compression facilities and pipeline networks. This infrastructure is state of the art from an environmental and emissions standpoint and its efficiency drives our very low operating costs.
Lean Technical Staff
Tourmaline has assembled a tremendously talented, dedicated and enthusiastic staff during the years since its inception. The Company has the staff capability in all disciplines required to allow for continued corporate outperformance in a fast changing and challenging environment.
Transportation and Marketing Strategy
Tourmaline has developed and executed a long term transportation and marketing strategy to ensure that the Company’s production stays on-stream and that the best prices possible are received for all hydrocarbon production streams. Tourmaline transports its natural gas on all major gas export pipelines out of the WCSB in order to access pricing in a diverse set of North American and International hubs.