Tourmaline Oil posts $248M Q1 profit on higher oil and gas prices, volume boost by The Canadian Press Last Updated May 5, 2021 at 6:14 pm EDT 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. Analysts had expected net income of $207 million or 70 cents per share, according to financial data firm Refinitiv.