Tourmaline Q2 net earnings drop 64% to CAD 184.43 million; revenue slips 1% to CAD 1.49 billion

• Tourmaline Oil posted Q2 cash flow (non-GAAP) of CAD 786.1 million, down 4%, generating free cash flow (non-GAAP) of CAD 192.1 million.
• Net earnings fell 64% to CAD 184.43 million, while revenue from commodity sales and realized gains slipped 1% to CAD 1.49 billion.
• Average production declined 4% to 594,198 boepd, marginally below guidance due to additional natural gas storage injections and activity deferrals.
• Net debt was CAD 1.5 billion at June 30, below the CAD 1.75 billion long-term target, about 0.4x 2026 forecast cash flow.
• Entered a long-term AltaGas agreement to lift propane and butane exports via the REEF terminal, expected to boost premium LPG exposure by about 55%.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tourmaline Oil Corp. published the original content used to generate this news brief on July 29, 2026, and is solely responsible for the information contained therein.