Tourmaline Oil Corp. continues its impressive run as one of the largest, most efficient producers of oil and gas in Canada. In January 2021 alone, the company has covered a well-depth of over 360 thousand meters which is about 22.6% of all drilling activities in Canada for January.
Other very active licensees include Canada Natural Resources and Cenovus with 17% and 11.5% respectively of Canada’s total well-depth at the end of January 2021.
Tourmaline’s perfect start of the year comes after the strategic acquisition of Jupiter Resources. This ensured 2P reserves of 357 mmboe, over 500 net sections of land (average working interest 84%), and working interests in three. Simultaneously, two of it is operated in the deep cut natural gas processing plants in the Resthaven and Kakwa areas.