UPDATE: Tourmaline Oil Updates Exit Volumes, Reaffirms 2013 Guidance; Stocks Up Slightly
Tourmaline Oil Corp. (TOU.TO) expects to exit 2012 at 70,000 boepd, an increase from previous exit guidance of 63,000-65,000 boepd.
The company currently expects to average 75,000 boepd in 2013, representing approximately 50% growth over 2012 expected average production of between 50,000 and 51,000 boepd.
Full year 2013 EP capital spending guidance remains at $650 million and the debt to cash flow ratio will be maintained at less than 1 times.
TOU edged up by 7 cents to $30.73 in moving closer to year high $34.08. Volume traded is over 12,000.
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