Tourmaline Oil earns nearly half of record $2B of 2021 profit in 4th quarter
Tourmaline Oil Corp. says it earned practically half of its $2 billion web revenue final yr within the ultimate quarter of 2021.
The Calgary-based vitality firm says its web earnings surged 58 per cent to $996.2 million within the fourth quarter from $629.2 million a yr earlier.
The end result equalled $2.96 per share, up from $2.28 per share within the fourth quarter of 2020.
Revenues from commodity gross sales for the three months ended Dec. 31 greater than doubled to $1.53 billion from $688.4 million within the prior yr quarter.
For the full-year, its web revenue soared to $2.03 billion or $6.40 per share on $4.7 billion of revenues, up from $618.3 million or $2.27 per share on $2.18 billion of revenues in 2020.
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Tourmaline says its 2021 manufacturing elevated 42 per cent to 441,115 barrels of oil equal per day and 485,078 boepd within the fourth quarter. It generated a document $2.93 billion of money move final yr, together with $968.2 million within the fourth quarter.
