None
SEDAR Interim Financial Statements
TOU · Price
[
{
"companyName": "Tourmaline Oil Corp.",
"reportingPeriodEnd": "2025-09-30",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"accountsReceivable": 689509,
"prepaidExpensesAndDeposits": 123785,
"fairValueOfFinancialInstrumentsCurrent": 233097,
"incomeTaxReceivable": 45866,
"totalCurrentAssets": 1092257,
"longTermAsset": 18378,
"fairValueOfFinancialInstrumentsLongTerm": 700660,
"explorationAndEvaluationAssets": 149360,
"propertyPlantAndEquipment": 21339289,
"rightOfUseAsset": 37292,
"investmentInTopaz": 406444,
"totalAssets": 23743680,
"accountsPayableAndAccruedLiabilities": 1383160,
"fairValueOfFinancialInstrumentsCurrentLiabilities": 27718,
"leaseLiabilitiesCurrent": 8529,
"decommissioningObligationsCurrent": 75000,
"currentDebt": 800000,
"totalCurrentLiabilities": 2294407,
"fairValueOfFinancialInstrumentsLongTermLiabilities": 31998,
"leaseLiabilitiesLongTerm": 30570,
"decommissioningObligationsLongTerm": 894252,
"longTermDebt": 937623,
"deferredTaxes": 3179677,
"shareCapital": 10670726,
"contributedSurplus": 497755,
"retainedEarnings": 5206672,
"totalShareholdersEquity": 16375153,
"totalLiabilitiesAndShareholdersEquity": 23743680,
"derivedMetrics": {
"cashPerShare": null,
"workingCapitalPerShare": -3.1069
}
},
"incomeStatement": {
"threeMonthsEndedSep2025": {
"commoditySalesFromProduction": 924974,
"premiumOnRiskManagementActivities": 427209,
"marketingRevenue": 45917,
"royalties": -109271,
"otherIncome": 8158,
"realizedGainOnFinancialInstruments": 126814,
"unrealizedGainLossOnFinancialInstruments": -33558,
"totalRevenue": 1390243,
"operatingExpenses": 280524,
"transportationExpenses": 291260,
"marketingPurchases": 40521,
"generalAndAdministration": 47272,
"shareBasedPayments": 17977,
"depletionDepreciationAndAmortization": 460075,
"realizedForeignExchangeGainLoss": -3318,
"unrealizedForeignExchangeGainLoss": -2867,
"incomeOnInvestmentInTopaz": -2848,
"gainOnAcquisitionsAndDivestitures": -20356,
"totalExpenses": 1108240,
"incomeFromOperations": 282003,
"financeExpenses": 27566,
"incomeBeforeTaxes": 254437,
"currentTaxExpenseRecovery": 27240,
"deferredTaxExpense": 36792,
"netIncomeAndComprehensiveIncome": 190405,
"basicEarningsPerShare": 0.49,
"dilutedEarningsPerShare": 0.49,
"weightedAverageSharesBasic": 386898078,
"weightedAverageSharesDiluted": 389037495
},
"nineMonthsEndedSep2025": {
"commoditySalesFromProduction": 3517007,
"premiumOnRiskManagementActivities": 1027464,
"marketingRevenue": 96710,
"royalties": -378758,
"otherIncome": 24849,
"realizedGainOnFinancialInstruments": 332168,
"unrealizedGainLossOnFinancialInstruments": 31819,
"totalRevenue": 4651259,
"operatingExpenses": 865652,
"transportationExpenses": 891260,
"marketingPurchases": 84375,
"generalAndAdministration": 140355,
"shareBasedPayments": 52587,
"depletionDepreciationAndAmortization": 1302788,
"realizedForeignExchangeGainLoss": 33488,
"unrealizedForeignExchangeGainLoss": -144,
"incomeOnInvestmentInTopaz": -11029,
"gainOnAcquisitionsAndDivestitures": -20356,
"totalExpenses": 3338976,
"incomeFromOperations": 1312283,
"financeExpenses": 80014,
"incomeBeforeTaxes": 1232269,
"currentTaxExpenseRecovery": 22189,
"deferredTaxExpense": 292406,
"netIncomeAndComprehensiveIncome": 917674,
"basicEarningsPerShare": 2.42,
"dilutedEarningsPerShare": 2.40,
"weightedAverageSharesBasic": 379773686,
"weightedAverageSharesDiluted": 382176389
}
},
"cashFlowStatement": {
"threeMonthsEndedSep2025": {
"netIncome": 190405,
"depletionDepreciationAndAmortization": 460075,
"accretion": 9462,
"leaseInterestExpense": 482,
"shareBasedPayments": 17977,
"currentTaxExpenseRecovery": 27240,
"deferredTaxExpense": 36792,
"unrealizedGainLossOnFinancialInstruments": 33558,
"amortizationOnLongTermAsset": 846,
"gainOnAcquisitionsAndDivestitures": -20356,
"incomeFromInvestmentInTopaz": -2848,
"unrealizedForeignExchangeGainLoss": -2867,
"decommissioningExpenditures": -14749,
"cashTaxesPaid": -9204,
"cashPaidOnRestrictedShareUnitsSettled": -329,
"dividendsReceivedFromTopaz": 11128,
"changesInNonCashOperatingWorkingCapital": 115935,
"totalCashFlowFromOperatingActivities": 853547,
"issueOfCommonShares": 3382,
"leasePayments": -2950,
"dividendsPaid": -328885,
"increaseInCurrentDebt": 500000,
"increaseDecreaseInLongTermDebt": -332720,
"totalCashFlowFromFinancingActivities": -161173,
"propertyPlantAndEquipment": -841971,
"propertyAcquisitions": -5140,
"proceedsFromDivestitures": 73074,
"investmentInLongTermAsset": -11800,
"changesInNonCashInvestingWorkingCapital": 93463,
"totalCashFlowUsedInInvestingActivities": -692374,
"changesInCash": 0,
"cashBeginningOfPeriod": 0,
"cashEndOfPeriod": 0
},
"nineMonthsEndedSep2025": {
"netIncome": 917674,
"depletionDepreciationAndAmortization": 1302788,
"accretion": 25984,
"leaseInterestExpense": 1418,
"shareBasedPayments": 52587,
"currentTaxExpenseRecovery": 22189,
"deferredTaxExpense": 292406,
"unrealizedGainLossOnFinancialInstruments": -31819,
"amortizationOnLongTermAsset": 1949,
"gainOnAcquisitionsAndDivestitures": -20356,
"incomeFromInvestmentInTopaz": -11029,
"unrealizedForeignExchangeGainLoss": -144,
"decommissioningExpenditures": -58171,
"cashTaxesPaid": -28136,
"cashPaidOnRestrictedShareUnitsSettled": -891,
"dividendsReceivedFromTopaz": 33057,
"changesInNonCashOperatingWorkingCapital": 187401,
"totalCashFlowFromOperatingActivities": 2686907,
"issueOfCommonShares": 36609,
"leasePayments": -8632,
"dividendsPaid": -971542,
"increaseInCurrentDebt": 800000,
"increaseDecreaseInLongTermDebt": -333669,
"totalCashFlowFromFinancingActivities": -477234,
"propertyPlantAndEquipment": -2161832,
"propertyAcquisitions": -17283,
"proceedsFromDivestitures": 74821,
"investmentInLongTermAsset": -11800,
"changesInNonCashInvestingWorkingCapital": -93579,
"totalCashFlowUsedInInvestingActivities": -2209673,
"changesInCash": 0,
"cashBeginningOfPeriod": 0,
"cashEndOfPeriod": 0
}
},
"investmentsAndOtherAssets": [
{
"type": "Investment in Associate",
"description": "Investment in Topaz Energy Corp.",
"ownershipPercentage": 21.3,
"value": 406444,
"notes": "21.3% ownership at September 30, 2025. Recorded using equity method."
},
{
"type": "Mineral/Resource Properties",
"description": "Exploration and evaluation assets",
"ownershipPercentage": null,
"value": 149360,
"notes": "Consists of the Company's exploration projects which are pending the determination of proved and/or probable reserves."
}
],
"shareStructure": {
"authorizedShares": "Unlimited",
"issuedShares": 386978690,
"classesOfShares": ["Common Shares", "Non-voting Preferred Shares"],
"warrants": [],
"options": [
{
"number": 17653170,
"exercisePrice": 59.34,
"expiryDate": null
}
],
"rightsConvertibleInstruments": null
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"threeMonthsEndedSep2025": {
"shareBasedPayments": 17977
},
"nineMonthsEndedSep2025": {
"shareBasedPayments": 52587
},
"threeMonthsEndedSep2024": {
"shareBasedPayments": 15680
},
"nineMonthsEndedSep2024": {
"shareBasedPayments": 47986
}
},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Topaz Energy Corp.",
"description": "Royalty and infrastructure agreements",
"amount": 99200,
"period": "Nine months ended September 30, 2025"
}
]
},
"subsequentEvents": [
{
"eventDate": "2025-10-02",
"description": "Entered into a 1-year natural gas supply agreement, commencing in April 2026, under which Tourmaline will deliver 30,000 mmbtu/d and receive a Dutch TTF index price less associated deductions.",
"impactValue": null
},
{
"eventDate": "2025-10-24",
"description": "Entered into a 10-year natural gas supply agreement, commencing in April 2028, under which Tourmaline will deliver 50,000 mmbtu/d and receive a Dutch TTF index price less associated deductions.",
"impactValue": null
},
{
"eventDate": "2025-10-28",
"description": "Sold a portion of its investment in Topaz through a secondary offering of Topaz common shares for gross consideration of $230.9 million, resulting in the sale of 9.2 million Topaz common shares and reducing ownership from 21.3% to 15.3%.",
"impactValue": 230900
}
]
}
]
More from Tourmaline Oil Corp
May 06, 2026 · 17:00