Tourmaline Oil Corp. (TOU) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Thermalink Q2 2026 results conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on July 30, 2026. I would now like to turn the conference over to Scott Kirker. Please go ahead. Thank you, John, and welcome, everyone, to our discussion of Tourmaline's financial and operating results as of June 30, 2026, and for the three and six months into June 30 and 26 and 25. My name is Scott Kirker, and I'm the Chief Legal Officer here at Tourmaline Oil. Before we get started, I refer you to the advisories on forward-looking statements contained in the news release as well as the advisories contained in the Termaline Annual Information Form and our MD&A available on CDAR and on our website. I also draw your attention to the material factors and assumptions in these advisories. I am here with Mike Rose, Termaline's President and Chief Executive Officer, Brian Robinson, our Chief Financial Officer, and Jamie Hurd, Termaline's Vice President of Capital Markets. We'll start with Mike speaking to some of the highlights of the last quarter of the year so far. After his remarks, we'll be open for questions. Go ahead, Mike. Thanks, Scott. Thanks, everybody, for dialing in this morning. So, a few highlights. Q2 26 cash flow was $786 million, generating $192 million of free cash flow in the quarter. We've entered into a long-term agreement to increase propane and butane exports through the new AltaGas reef terminal, increasing terminal lean's exposure to premium LPG export markets by approximately 55% and improving r...