CALGARY,
AB, May 8, 2023 /CNW/ - Tourmaline Oil
Corp. (TSX: TOU) ("Tourmaline" or the "Company") provides an update
on operations impacted by Alberta
wildfires.
Tourmaline staff and families have been safely
evacuated from certain operated facilities and homes in the greater
Edson area. The Company evacuated
and shut down nine South and West Deep Basin gas processing
facilities between the afternoon of Friday,
May 5 and the afternoon of Saturday,
May 6 as nearby fires expanded and new wildfires rapidly
emerged.
Tourmaline is not aware of any damage to those
facilities to date, and access to the sites is currently
prohibited.
Tourmaline will quantify the timeline for
production resumption at the 9 sites and the total production
impact on Q2 in subsequent updates.
Tourmaline is extremely thankful for the efforts
of all personnel engaged in fighting these dangerous fires and
hopes all remain safe.
ABOUT TOURMALINE OIL CORP.
Tourmaline is Canada's largest and most active natural gas
producer dedicated to producing the lowest-emission and lowest-cost
natural gas in North America. We
are an investment grade exploration and production company
providing strong and predictable operating and financial
performance through the development of our three core areas in the
Western Canadian Sedimentary Basin. With our existing large reserve
base, decades-long drilling inventory, relentless focus on
execution and cost management, and industry-leading environmental
performance, we are excited to provide shareholders an excellent
return on capital, and an attractive source of income through our
base dividend and surplus free cash flow distribution
strategies.
Forward-Looking
Information
This news release may contain forward-looking
information and statements (collectively, "forward-looking
information") within the meaning of applicable securities laws that
involve risks, uncertainties and assumptions, including with
respect to the potential damage to the Company's facilities and
other impacts on operations and production from the Alberta wildfires. The forward-looking
information made herein speak only as of the date of this news
release and, unless otherwise required by law, Tourmaline does not
undertake any obligation to publicly update such forward-looking
information to reflect subsequent events or circumstances.
Additional information on factors that could affect Tourmaline, or
its operations or financial results, are included in Tourmaline's
most recently filed Management's Discussion and Analysis (See
"Forward-Looking Statements" therein), Annual Information Form (See
"Risk Factors" and "Forward-Looking Statements" therein) and other
reports on file with applicable securities regulatory authorities
and may be accessed through the SEDAR website (www.sedar.com) or
Tourmaline's website (www.tourmalineoil.com).
SOURCE Tourmaline Oil Corp.