Mike Rose was named Canada’s Outstanding CEO of the Year for 2023, awarded the honour by Bennett Jones LLP, Caldwell, and the National Post. To read the fantastic article by the Financial Post and interview with Mike Rose himself, click here.
Tourmaline has been an impressive growth story in Canadian energy over the years, on both an organic basis and through acquisition, and has been led by Mike Rose since inception. Pictured below is a corporate production chart from BOE Intel that illustrates the history of that growth over the last number of years.
Having completed the acquisition of Bonavista Energy a few months ago, the company recently announced that it exited 2023 with production over 600 MBOE/d.
Figure 1 – Tourmaline corporate production
Tourmaline is Canada’s largest natural gas producer, having produced ~2.3 BCF/d in Q3 2023 (before the effect of the Bonavista acquisition). After having equaled Canadian Natural Resources in natural gas production in 2020, Tourmaline has held the crown of top natural gas producer in Canada continuously since Q1 2021. Pictured below is a comparison chart from BOE Intel showing natural gas production over the years as reported quarterly by CNRL and Tourmaline.
Figure 2 – Corporate natural gas production – CNRL vs. Tourmaline
