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. If you have an ad-blocker enabled you may be blocked from proceeding. Tourmaline is the third oil and gas company Rose has founded and led. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. UPDATE 1-U.S. regulator seizes First Republic Bank, to sell assets to JP Morgan, U.S. regulator seizes First Republic Bank, to sell assets to JP Morgan, Morgan Stanleys Wilson Says Hawkish Fed Surprise to Roil Stocks, Australian 7-Eleven franchise puts 700-store chain up for sale, UPDATE 1-Sudan conflict shows no sign of easing, Sudanese brace for more violence. This article by Simply Wall St is general in nature. And, as a special welcome offer, new subscribers can try out our service risk-free with a free 2-week trial and receive a 10% discount on annual subscriptions. Tourmaline CEO Mike Rose in search of assets | Calgary Herald After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. The company employs 322 workers across the globe. While he sees less upside for Tourmaline, Bilkoski still has a buy rating on Topaz Energy Corp., an energy royalty and infrastructure spinoff for which all 14 analysts have buy recommendations. But the company does carry quite a bit of debt. "As technology evolves, we're doing things we've never been able to do. Mr. Kirker holds a Bachelor of Arts degree and a Masters of Science in Psychology, both from the University of Calgary, as well as a Bachelor of Laws degree from the University of Alberta. Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. "tabs": [ Mr. Mike Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. "s": "TVC:USOIL+NYMEX:ICL1! Mr. Bush holds aBachelors degree in Mining Engineering from Montana College of Mineral Science and Technology, Butte Montana. Story continues below With over a decade of experience in the investment industry, I am a highly skilled private investor with a proven track record of success in the commodities and hard assets sector. "isTransparent": false, On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million. Export data to Excel for your own analysis. 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. Tourmaline Oil Corp., Canada's 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. 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. Company News. However, oil prices have since declined, nearly erasing the gains from OPEC's decision. As the Director of Paramount Resources, the total compensation of Susan Rose at Paramount Resources is CAD$70,000. Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team. We apologize, but this video has failed to load. Should You Be Too? Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. Monitor your investments 24 hours a day, around the clock from around the globe. What Stock Would You Invest $5,000 in Right Now? Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion I am not receiving compensation for it (other than from Seeking Alpha). "originalTitle": "Commodities" Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. And the longer term insider transactions also give us confidence. The future doesn't just happen, we. The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. mike rose tourmaline net worth. 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. 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With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. US Property Taxes Rose Twice as Fast Last Year Than in 2021. . View TOU analyst ratings or view top-rated stocks. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. And thanks everybody who's on the line. But the latter half of 2023 seems more promising for a rally in oil & gas prices due to supply concerns, and in the stocks I mention below. Tourmaline had net income in the last three months of 2020 of $629 million, more than 10 times the $61.3 million it reported in the same period of 2019. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. Bottom line: Baytex's stock is down 28.59% over the past year, but the worst of it may be behind it. Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. 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. He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. We start this journey in 1998 with England vs. Argentina, the game that had everything. mike rose tourmaline net worth - casadeglo.globodyinc.com One share of TOU stock can currently be purchased for approximately C$60.87. Daily puzzles including the New York Times Crossword. Get email updates from your favourite authors. "s": "USOIL", Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. If you don't see it, please check your junk folder. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. Join thousands of other investors who make better investing decisions with our premium tools. Their TOU share price forecasts range from C$70.00 to C$112.00. Please disable your ad-blocker and refresh. 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. There are 1 executives at Tourmaline Oil getting paid more, . 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. contact@marketbeat.com The special dividends have netted Rose almost $45 million this year. Several members of the leadership team have been with Rose at all three companies. "d": "CDN Light Sweet" "showChart": true, Insider buying: Four separate insiders have purchased C$283,312 worth of stock over the past 12 months, according to MarketBeat. "showFloatingTooltip": true, That'll likely change following closure of the Ranger Oil transaction, but it's something to consider when evaluating your current investment options. Mr. Tumbach has been the Vice President, Land and Contracts of Tourmaline Oil Corp. since 2008. Wallmine is a radically better financial terminal. Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose Acquires 5,000