mike rose tourmaline net worth

Tourmaline, Canadas second-largest natural gas producer, has jumped 56 per cent over that period thanks to a combination of rising natural gas prices on tight supplies and a series of dividend hikes and special dividend payouts. This week Michael (Mike) Rose, Chairman, President, and Chief Executive Officer of Tourmaline joins us as our guest. Mr. Rose has more than 38 years of experience in the oil and gas industry and held various exploration and production positions including managing exploration and petroleum engineering research for a large E&P company before founding Berkley Petroleum Corp. ("Berkley") in 1993. 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. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. ], The company has been on an acquisition spree, having completed the purchase of Black Swan Energy Ltd., and Paramount Resources Ltd.s land assets in North Montney. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. Get short term trading ideas from the MarketBeat Idea Engine. In 2019, Tourmaline spun out its royalty business Topaz Energy Corp., named after another gemstone, which listed on the Toronto Stock Exchange in a $230.5 million offering last year. 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 billionfrom $662 million since the beginning of this year. Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. Seven years on, he's at it again.. Entering text into the input field will update the search result below. "d": "WCS Heavy" Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Balance sheet strength: Tourmaline has one of the strongest financial positions of any oil & gas stock I've evaluated. 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. 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Tourmaline still own just over a 50 per cent stake in Topaz. "symbols": [ Prior thereto, he was Exploration Manager of the Companys NEBC and PRH operating areas, and Senior Geologist at Tourmaline, since February 2009. "belowLineFillColorGrowingBottom": "rgba(41, 98, 255, 0)", Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. Markets never sleep, and neither does Bloomberg News. 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. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. First, it's worth taking a step back to understand the current oil price action to see why there have been sell-offs in oil & gas stocks in the first place. 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. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Mr. Bush served as Completions and Operations Engineering Manager of Duvernay Oil Corp. until its acquisition in 2008. If you have an ad-blocker enabled you may be blocked from proceeding. 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. The following insiders have purchased ET shares in the last two years, according to MarketBeat (with dollar value): Approximately 3.28% of its stock is owned by insiders. What is Tourmaline Oil's stock price forecast for 2023? Tourmaline stock was trading 155 per cent higher to $33.53 per share at the end of last week, compared to the same period last year, and nearly 205 per cent higher compared to March 2020 when oil and gas stock prices began to slide. With its low-cost structure and diversified marketing exposure, CIBC Capital Market analysts say Tourmaline is well-positioned to generate superior returns at a range of natural gas price assumptions. Tourmaline Oil executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. 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. Prior to joining Tourmaline, Ms. Beck worked in legal and business development roles at Pembina Pipeline Corporation. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. 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. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, Director of the Company. Many might not know this, but this man is also a professional voice-over artist. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008). It also carries a book value per share of $5.56, higher than its current stock price. Currently, 80% of the company's production comes from natural gas, and it also claims to have the lowest capital costs in the Alberta Deep Basin. articles a month for anyone to read, even non-subscribers! { Tourmaline Oil Trading Up 1.9 %. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. 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Mr. Robinson is a director and the Vice President, Finance and Chief Financial Officer of Tourmaline. Tourmaline Oil Corp., Canadas 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.

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