Canada's largest gas producer: Alberta Deep Basin, BC/Alberta Montney and Peace River Triassic; ~640 kboe/d, gas-weighted with liquids uplift; industry-leading low cost, diversified egress to premium markets including LNG Canada; owns a large stake in Topaz Energy (royalty).
Strong balance sheet, base plus special dividends (high total yield) and a low decline rate. Flags: AECO gas price and special-dividend variability.
Its EV/EBITDA of 8.6x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of 1.5% is lower than the 6.5% median, and at $5.92/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Tourmaline Oil scores 55/100, strongest on safety (83/100). Sub-scores: value 34, quality 50, growth 70, risk 17 (higher = riskier).
Tourmaline Oil holds approximately 3.26 billion boe of proved (1P) reserves with FY2025 production of about 638 thousand boe/d (20% liquids), a reserve life of roughly 14.0 years. Break-even: low (low-cost Canadian gas) — Low-cost Montney/Deep Basin; diversified gas marketing to premium hubs incl. LNG Canada feedgas; strong hedge/transport book.
For Tourmaline Oil, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Canada | 100% | 8 | Stable; pipeline egress constraints, oil-sands emissions policy. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Alberta Deep Basin | Canada | Gas/liquids | core low-cost |
| BC/Alberta Montney | Canada | Gas/condensate | liquids-rich |
| Peace River Triassic | Canada | Oil/liquids | oil window |
| Topaz Energy (royalty stake) | Canada | Royalty | owns large stake |
| LNG Canada feedgas | Canada | Gas | premium egress |
| Gundy (Montney) | Canada | Condensate/gas | core |
| Conroy/Groundbirch | Canada | Gas | Montney |
| Gas marketing/transport | Canada/US | Gas | diversified hubs |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 430 | 495 | 520 | 585 | 638 |
| Proved reserves (bnboe) | 2.10 | 2.40 | 2.60 | 2.80 | 3.26 |
| Revenue ($bn) | 2.5 | 4.5 | 3.8 | 3.9 | 4.6 |
| EBITDA ($bn) | 1.5 | 3.2 | 2.5 | 2.5 | 2.2 |
| Net income ($bn) | 1.0 | 1.9 | 1.4 | 1.1 | 0.2 |
| Free cash flow ($bn) | 0.8 | 1.8 | 1.2 | 1.0 | 0.3 |
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✓ FY2025 figures verified against primary sources: