What Stock Would You Invest $5,000 in Right Now? 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. Please log in to your account or sign up in order to add this asset to your watchlist. 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. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. There are 1 executives at Tourmaline Oil getting paid more, . The company earned $2.18 billion during the quarter. 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. 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. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. Mike Rose started Tourmaline Oil Corp., now Canada's third-largest natural gas producer, by scooping up land the last time energy companies were in a slump. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. Prior to joining Tourmaline, Mr. McKinnon held both engineering and operational roles at Shell Canada Ltd. Mr. McKinnon holds a Bachelor of Science in petroleum engineering from Montana Tech at the University of Montana. That includes its regular quarterly dividend and a special dividend. The special dividends have netted Rose almost $45 million this year. There are 7 older and 4 younger executives at Tourmaline Oil. Insiders have been buying shares at three oil & gas companies lately. I am here with Mike Rose, Tourmaline's President and Chief Executive Officer; Brian Robinson, Vice President, Finance and Chief Financial Officer; and Jamie Heard, our Manager of Capital. Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. Is this happening to you frequently? Our 2020 Tourmaline aggregate dividend of $130 million and our net Topaz aggregate dividend of $17 million will be paid from our estimated 2020 free cash flow of $173 million. Distribution: One of the key reasons to invest in its stock is for its distribution. 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. We start this journey in 1998 with England vs. Argentina, the game that had everything. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. "belowLineFillColorGrowingBottom": "rgba(41, 98, 255, 0)", Mr. Robinson has more than 37 years of experience in the oil and gas industry in the disciplines of finance, financial reporting, budgeting, accounting, management, treasury, tax, and business development. The company employs 322 workers across the globe. Michael Rose Net Worth Michael Rose biography. Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. 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A welcome email is on its way. Join thousands of other investors who make better investing decisions with our premium tools. 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. After Bank Turmoil, Says RBA. The Ranger Oil acquisition looks like a transformative move for the company, and, I think it's a good sign that insiders have been buying ahead of the closing of the acquisition. Tourmaline Oil does not have a long track record of dividend growth. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. Chris Bolin/The Globe and Mail And, it expects to end the year with a cash positive position. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. It said the increase in net earnings. Energy Transfer Partners is one North America's largest midstream energy companies, with approximately 120,000 miles of pipelines and energy infrastructure assets located across 41 states. { As of 2023, Mike Rowe net worth is calculated to be around $30 million. "originalTitle": "Commodities" Rose owns a 0.4 per cent stake in Topaz, worth about $12 million. This advertisement has not loaded yet, but your article continues below. Mr. Kirker has practiced law for more than 30 years in various capacities. Overnight on Wall Street is morning in Europe. Get in touch with us directly. 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. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Mike Rose, Tourmaline's president and CEO, said: "Our long-term supply agreement with Cheniere is the next important step in [the company's] evolving market diversification . 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.. Biography of Michael Rose. 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(TSE:TOU), Barclays Cuts Tourmaline Oil (TSE:TOU) Price Target to C$75.00, DESJARDINS SECURITIES Maintains Tourmaline Oil (TSX:TOU) Buy Recommendation, SCOTIABANK GBM Maintains Tourmaline Oil (TSX:TOU) Outperform Recommendation, Tourmaline Stock: Down 28% and on Sale Today, Tourmaline Oil Corp. (TSE:TOU) Director Janet Weiss Acquires 350 Shares, Tourmaline Oil (TSE:TOU) PT Lowered to C$80.00, BMO Capital Markets Trims Tourmaline Oil (TSE:TOU) Target Price to C$75.00, Tourmaline Oil Corp.: Tourmaline and Clean Energy Announce $70 Million Joint Development Agreement to Build CNG Stations in Western Canada, Tourmaline and Clean Energy Announce $70 Million Joint Development Agreement to Build CNG Stations in Western Canada, Tourmaline Oil (TSE:TOU) Price Target Cut to C$70.00 by Analysts at CIBC, Raymond James Trims Tourmaline Oil (TSE:TOU) Target Price to C$85.00, 4 Reasons Why Tourmaline Oil Stock Is a Buy in April 2023, Oil & gas CEOs are buying millions in company stock: report, Billionaire Leon Cooperman Is Betting On These Oil Stocks: 'I Don't See How You Go Wrong', Leon Cooperman is bullish on oil and has 20% of his portfolio in energy stocks, Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$89.30, Tourmaline Oil (TSE:TOU) Price Target Cut to C$78.00 by Analysts at BMO Capital Markets, BMO Capital Markets Trims Tourmaline Oil (TSE:TOU) Target Price to C$78.00, Stifel Firstegy Research Analysts Reduce Earnings Estimates for Tourmaline Oil Corp. (TSE:TOU), Mike Rose Purchases 5,000 Shares of Tourmaline Oil Corp. (TSE:TOU) Stock, Mike Rose Acquires 5,000 Shares of Tourmaline Oil Corp. (TSE:TOU) Stock. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. Share your thoughts and join the conversation in the comments. He started Duvernay Oil Corp. shortly thereafter, eventually selling it to Shell for $5.9 billion in 2008. The official website for the company is www.tourmalineoil.com. "s": "USOIL", Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. "plotLineColorGrowing": "rgba(15, 164, 207, 1)", The special dividends have netted Rose almost C$45 million this year.
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