Tourmaline announced after markets closed Wednesday that it would pay a special dividend of 75 cents per share next month as skyrocketing natural gas prices have allowed the Calgary-based gas producer to hit its debt targets and left it flush with cash.
“We expect, if prices hold, we’ll be able to pay more in 2022, but we’ll have to see how the world unfolds price wise and how much free cash flow we generate,” Rose said. “We didn’t give a locked in timing on when we’re going to do them.”Article contentOil and gas companies are looking to attract investors by offering generous payouts and bringing down debt, rather than venturing into new areas. Last week, Royal Dutch Shell Plc said it would pay shareholders US$7 billion out of the $US9.
Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as US$100 per million British thermal units in the event of a particularly cold winter. In the natural gas business, the winter heating season — when more natural gas is withdrawn from storage than is injected into storage caverns – officially begins Oct. 31 but North American producers are watching global markets closely.Article content
Tsxman thinking Vermillion is going to be knocking it out of the park because of European natural gas exposure …. What once was a company plagued by debt is now going to be a fcf beast…maybe a dividend soon Tsxman?
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