The natural gas markets went crazy in 2022 as a result of the Ukraine war. The shares of Tourmaline Oil also benefited from this. The Canadians are one of the largest gas producers in North America. The stock offers a lot of dividends and a low valuation. On top of that, the chances of higher gas prices seem to have increased.
Natural gas: From the fringe to the centerFor years and decades, natural gas was uninteresting from an investor's perspective. It was cheap and abundant; in North America, the price often barely covered the cost of production. The Ukraine war and the West's Russia sanctions radically changed the situation. Suddenly, this commodity was a scarce resource, and the price multiplied in 2022 - bad for consumers, extremely lucrative for gas producers and their shareholders. However, oil and gas came down significantly since the fall of 2022 from the record highs reached last year and marked a low a few weeks ago. As a result, the share prices of companies active in this sector also fell. It is being discussed whether or when it is worthwhile to re-enter the market. After all, according to key figures such as P/E ratio, price/NAV and dividend yield, this sector is attractive. Tourmaline Oil, Canada's largest and North America's fifth largest natural gas producer, is worth considering.
Mike Rose: An impressive success storyTourmaline Oil (62,25 C$ | TSX: TOU) is not a stock that every investor knows. But the company has an interesting history that is associated with one name: Michael "Mike" L. Rose. Now 65, he founded Tourmaline Oil, is president, CEO and chairman, and was awarded the Canada Lifetime Achievement Award last year in recognition of his life's work.
Successful management exit strategyWith decades of professional experience and some spectacular successes, Mike Rose is one of the legendary veterans of the North American oil and gas industry. After graduating in 1979, he worked for Shell Canada, where he gained deep insights into the natural gas fields of Alberta and British Columbia. In 1993, he left Shell to found Berkeley Petroleum. In 2001, he sold the company to Anadarko for 1.5 billion Canadian dollars. That same year, he founded Duvernay Oil and then sold that company to his former employer in 2008 for CAD 5.9 billion.
In August 2008, Mike Rose, together with the proven management team of Berkeley Petroleum and Duvernay Oil, founded his third company, Tourmaline Oil. As seed capital, Tourmaline's management ...
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