Winnipeg Free Press
By: The Canadian Press
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CALGARY - Tourmaline Oil Corp. is reporting positive net income in the first quarter thanks to higher oil and gas prices and a 33 per cent increase in production from acquisitions as well as an active drilling program.
CALGARY - Tourmaline Oil Corp. is reporting positive net income in the first quarter thanks to higher oil and gas prices and a 33 per cent increase in production from acquisitions as well as an active drilling program.
The Calgary-based company says it had net income of $248 million or 83 cents per share in the three months ended March 31, compared with a loss of $35.8 million or 13 cents a share in the same period of last year.