"scaleFontColor": "rgba(120, 123, 134, 1)", Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. But the company does carry quite a bit of debt. It used its cash flow to focus on reducing its net debt (30% reduction last year, to $987 million) and reward shareholders with an aggressive share buyback (24.3 million shares, of 4.3% of shares outstanding, were repurchased in 2022). We start this journey in 1998 with England vs. Argentina, the game that had everything. which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc casadeglo3@gmail.com Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. "width": "100%", Rose, a geologist by training who started four successful oil and gas companies in Calgary, has watched his 4.9% stake in Tourmaline balloon to C$1.04 billion ($807 million) from C$662 million. Bullish insiders bet CA$9.2m on Tourmaline Oil Corp. (TSE:TOU) mike rose tourmaline net worth - marconasedkin.de Second, expect a big oil deficit in H2 2023. Mike Rose, Tourmaline Oil Corp | Speaker | Energy Council Dividend: The company paid a $7.90 per share dividend last year, which equals a trailing yield of 17.56% based on its current stock price of $45. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. Guests watch a video detailing the announcement of a $70 million joint development agreement between Tourmaline Oil Corp. and Clean Energy Fuels Corp. to build CNG stations in Western Canada. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Recently, he sat down with Tim Egan, CEO of the Canadian Gas Association, to discuss Tourmaline's past, present and future, Canada's road to net zero, and how to navigate that path. First Republic Talks Extend Into Night After Banks Place Bids, Warren Buffett Will Beat the Market in Recession Times, Investors Say, Jerome Powell Could Face More Opposition as Fed Choices Get Tougher, Munger Warns Banks Stuck with Commercial Property Debt, FT Says, Your Sunday US Briefing: Pressure Mounts on First Republic. I wrote this article myself, and it expresses my own opinions. Tourmaline, named after the semi-precious stone, has also struck a long-term agreement with Cheniere Energy Inc., one of the largest liquefied natural gas producers in the U.S., to supply 140,000 mmbtu per day of natural gas to the companys Corpus Christi liquefaction terminal in Texas for a 15-year term starting 2023. Last updated: 1 April 2023 at 11:00am EST. "s": "TVC:USOIL+NYMEX:ICL1! I am not receiving compensation for it (other than from Seeking Alpha). Entering text into the input field will update the search result below. View which stocks are hot on social media with MarketBeat's trending stocks report. Mr. Kirker has practiced law for more than 30 years in various capacities. He started Duvernay Oil Corp. shortly thereafter, eventually selling it to Shell for $5.9 billion in 2008. Prior to Pembina, Ms. Beck worked in private practice as a securities lawyer at Stikeman Elliott LLP in London, UK and at Blake, Cassels and Graydon LLP in Calgary. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. But, I will also point out that the stock is only worth considering if you fully understand the tax implications and potential drawbacks of owning an MLP. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. In this case we're pleased to report that the insider purchases were made at close to current prices. Chris Bolin/The Globe and Mail We start this journey in 1998 with England vs. Argentina, the game that had everything. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. We continue to see the stock as a go-to name for natural gas exposure through H2/21, according to Jamie Kubik, analyst at CIBC Capital Markets. Real-time analyst ratings, insider transactions, earnings data, and more. Photo by Gavin Young/Postmedia files. There are 1 executives at Tourmaline Oil getting paid more, . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. Baytex Energy Corp. is crude oil and natural gas producer with operations in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. How many employees does Tourmaline Oil have? [Gas in Transition, Volume 2, Issue 5] Tourmaline CEO Mike Rose in search of assets | Calgary Herald . That gives the company enormous financial flexibility - it can ramp up its shareholder returns via increased dividends and buybacks, or use its firepower to complete accretive deals, should it desire to, for example. My areas of expertise include investing in gold and silver miners, royalty and streaming companies, pure exploration companies, as well as oil and gas producers and MLPs. According to analysts' consensus price target of C$84.44, Tourmaline Oil has a forecasted upside of 38.7% from its current price of C$60.87. The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. In Conversation: Mike Rose, CEO, Tourmaline Oil [Gas In Transition] In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. CEO is the third-largest shareholder of Canada gas producer, TD gives stock its only hold rating on stretched valuation. Investors who can stomach the short-term volatility and the possibility of lower oil & gas prices this quarter should benefit greatly later on. I wrote this article myself, and it expresses my own opinions. "symbolActiveColor": "rgba(30, 200, 700, 0.41)", Michael Rose Net Worth Michael Rose biography. 2022 was a great year for Baytex, as it says it generated record free cash flow of $622 million ($1.11 per share) on the back of strong production of 83,519 boe/d. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", The contracts often involve "take-or-pay" agreements, which means the clients pay a pre-determined fee to transport, store, or process the oil or gas, regardless of volume. TSE:TOU opened at C$56.23 on Wednesday. It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. Tourmaline Oil Corp., Canadas largest natural gas producer, enjoyed a stunning second quarter, with net earnings soaring 1,993 per cent, compared to the same period last year, on a production increase of 47 per cent. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). Market Data powered by QuoteMedia. { Tourmaline Location 250-6th Ave SW Ste 2900, Calgary, Alberta, T2P 3H7, Canada Description Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment Tourmaline surge propels Mike Rose's stake past $1B June 14, 2022; utpal parrikar education . Mr. McKinnon has served as the Vice President, Operations of Tourmaline Oil Corp. since May 2015. Our daily ratings and market update email newsletter. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. And, it expects to end the year with a cash positive position. Insiders have purchased 14.86 million shares. Biography of Michael Rose. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). Receive TOU Stock News and Ratings via Email. Concerned about the content? Rose, a geologist by training who started four successful oil and gas companies in Calgary, has watched his 4.9% stake in Tourmaline balloon to C$1.04 billion ($807 million) from C$662 million since the beginning of this year. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. That's what I like to see! Tourmaline, Canadas second-largest natural gas producer, has jumped 56% over that period thanks to a combination of rising natural gas prices on tight supplies and a series of dividend hikes and special dividend payouts. This distribution looks very sustainable here given that Energy Transfer is producing close to $2 billion in distributable cash flow on a quarterly basis, and is paying out ~$950 million in distributions per quarter to maintain its yield (see its Q4 2022 financial results for more details). mike rose tourmaline net worth - hazrentalcenter.com All rights reserved. He also pointed a steady drumbeat of demand for natural gas is growing across North America and around the world at the same time, which is giving his company a boost. Its shares carry a P/E of 3.49 (below the sector median of 7.59), and an EV/EBITDA of 2.76 (vs. 5.53 sector median), according to data from Seeking Alpha. Potential Tourmaline Oil Corp. ( TSE:TOU) shareholders may wish to note that the Chairman of the Board, Michael Rose, recently bought CA$238k worth of stock, paying CA$23.79 for each share.. "showChart": true, The information you requested is not available at this time, please check back again soon. The future doesn't just happen, we. Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. In sweetheart deal, Tourmaline buys natural gas play Currently, 80% of the company's production comes from natural gas, and it also claims to have the lowest capital costs in the Alberta Deep Basin. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Markets never sleep, and neither does Bloomberg News. Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). Hes married to Perpetual Energy CEO Sue Riddell-Rose, whose late father Clay Riddell founded Paramount Resources and was a co-owner of the National Hockey Leagues Calgary Flames before hisdeath in 2018. Valuation: Like Tourmaline, Baytex shares look like a bargain here. The Midas Touch - BIC My comprehensive understanding of these markets and my ability to identify and capitalize on profitable opportunities have enabled me to consistently deliver strong returns for my subscribers. Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. At the 2022 Canada Energy Assembly and Dinner, Mike Rose, President and CEO of Tourmaline Oil Corp, was presented with the Lifetime Achievement Award, sponso. As a Master Limited Partnership ("MLP"), Energy Transfer also benefits from certain tax advantages. Mr. Kirker has been the Chief Legal Officer, External Affairs since March 2022. We believe the recent pause in the shares represents an opportunity as we move into the fall of 2021. Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. Tourmaline still own just over a 50 per cent stake in Topaz. I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. Their TOU share price forecasts range from C$70.00 to C$112.00. Commodity prices tanking in a worse-than-expected recession, for example, could put pressure on its earnings, and make it harder to service that debt, or at least maintain its distribution payout. This suggests a possible upside of 38.7% from the stock's current price. Acquisition activity is looking prescient, least of which is a +22 per cent increase in the 2022e NYMEX natural gas futures strip since its prior print, though we suspect this will be aided by the application of the Tourmaline execution machine on acquired assets and overall exceptional cost structure synergies, said Robert Fitzmartyn. While that sounds like a small percentage, Energy Transfer is a $39 billion company, so it represents a huge investment worth more than $1 billion. there have been sell-offs in oil & gas stocks in the first place. Tourmaline Oil declared a quarterly dividend on Wednesday, March 1st. Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants.
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