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. Wallmine is a radically better financial terminal. What other stocks do shareholders of Tourmaline Oil own? Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. ], Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. '../imgs/USA.png' ?> //= $_COOKIE['currency'] == 'CAD . Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Mike Rose Thanks Jamie. CIBC analysts think the primary sector risks are lower commodity prices and rising industry costs. The future doesn't just happen, we. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. The ex-dividend date of this dividend is Tuesday, March 14th. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. Rose, a geologist by training who started four successful oil and gas companies in Calgary, has watched his 4.9 per cent stake in Tourmaline balloon to $1.04 billion from $662 million since the beginning of this year. Mr. McKinnon has served as the Vice President, Operations of Tourmaline Oil Corp. since May 2015. Tourmaline continues buying spree in Montney with $750-million deal for Should I buy or sell Tourmaline Oil stock right now? The company-specific risks to achieving its price target include infrastructure constraints that may limit Tourmalines ability to tie-in new production and changes to production deliverability assumptions (i.e., initial production rates and production declines) on Tourmalines undeveloped assets.. 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 his death in 2018. The bottom line: Investors who can stomach the short-term volatility and the possibility of lower oil & gas prices this quarter may be rewarded handsomely in H2 2023 and beyond. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, . Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008). Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. Tourmaline Oil plans spinoff to help monetize assets - BNN Tourmaline Oil has a PEG Ratio of 1.72. Several members of the leadership team have been with Rose at all three companies. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. Tourmaline Oil Insider Buying: 3 Oil And Gas Stocks To Consider Now If you are a Home delivery print subscriber, unlimited online access is. mike rose tourmaline net worth. 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. mike rose tourmaline net worth - hazrentalcenter.com Tourmaline Oil Trading Up 1.9 %. 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. Tourmaline stands out to me as a super-attractive oil & gas stock for several reasons: Insider buying: Three insiders at Tourmaline Oil Corp. have bought C$6 million (US$4.45 million) worth of shares over the past year, according to MarketBeat. "height": "500", { Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. On January 23 and 25, Jill Angevine, Director, bought 1,120 shares at C$62.63 and C$65.94. Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in stock. Despite a significant decline in U.S. crude stockpiles, the dollar has risen in value and oil has fallen in price, largely due to the likelihood of the Federal Reserve raising interest rates again next month (which could potentially weaken energy demand further). Prior to joining Tourmaline, Mr. Frostad served as Geologist at Duvernay Oil Corp until its acquisition in 2008. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). Alternatively, email editorial-team (at) simplywallst.com. there have been sell-offs in oil & gas stocks in the first place. "s": "TVC:USOIL+NYMEX:ICL1! Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. I wrote this article myself, and it expresses my own opinions. National Bank analyst Dan Payne calls the company stock best in breed, noting that the company has structurally gapped away from the peers, which should continue to yield outsized returns and value.. After Bank Turmoil, Says RBA. 2021 average. He wrote in a note earlier this month that Tourmaline has been a fantastic Canadian natural-gas business, with nearly flawless strategic execution over the past several years but that its valuation had become stretched.. In many cases, I've found that insiders have (mostly) timed their purchases wisely. He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. Tourmaline Oil does not have a long track record of dividend growth. Michael Rose Is The Chairman of the Board of Tourmaline Oil Corp. (TSE 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Insiders have purchased 14.86 million shares. He founded Berkley Petroleum Corp. in 1993 and sold it to Anadarko Petroleum in 2001 before starting Duvernay Oil Corp., which he sold to Shell Canada Ltd. for $5.9 billion in 2008. View our TOU earnings forecast. Mike Rose, Tourmaline Oil Corp | Speaker | Energy Council { How often does Tourmaline Oil pay dividends? CEO is the third-largest shareholder of Canada gas producer, TD gives stock its only hold rating on stretched valuation. 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. Dennis da Silva's Top Picks: April 26, 2023, {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, U.S. natural gas slumps as LNG plant shutdown strands supplies, U.S. natural gas prices slump after fire at Texas LNG terminal, Gas exporters see growing support for East Coast plant in Canada. Markets never sleep, and neither does Bloomberg News. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. The company has been on an acquisition spree, having completed the purchase of Black Swan Energy Ltd., and Paramount Resources Ltd.s land assets in North Montney. Michael Rose Net Worth Michael Rose biography. Mike Rose, chairman and chief executive officer of Tourmaline Oil Corp., listens during an interview in New York, U.S., on Thursday, March 12, 2015. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his companys outlook on pricing, revenue and cash flow. While Baytex appears to be highly leveraged with close to $1 billion in debt, investors should note that $410 million of this debt does not mature until 2027. FourFourTwo Films is celebrating the last 20 years of World Cup history through a game, a player, a moment, a team and a goal all that makes the World Cup great. 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. 'active' : 'js-change-currency' ?> //= plugin_dir_url( __FILE__ ) . The company can be reached via phone at +1-403-7673587. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. "originalTitle": "Commodities" . A welcome email is on its way. News; Video; This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. Tourmaline surge propels Mike Rose's stake past $1B Mr. Bush served as Completions and Operations Engineering Manager of Duvernay Oil Corp. until its acquisition in 2008. Overnight on Wall Street is morning in Europe. 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. "gridLineColor": "rgba(42, 46, 57, 0)", "showChart": true, Looking for buying opportunities? Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. 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. In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year.