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.

READ MORE: As world scrambles for oil, Canadian producers reluctant to spend on progress

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.

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