Wondering about Tourmaline Oil vs Canadian Resources?

Hey Rick,

It is looking increasingly likely since TOU is a cash-generating machine right now. It already announced one in January and does "anticipate paying further special dividends each quarter in 2023 and tactical utilization of its normal course issuer bid during the course of the year". That said, the oil & gas industry is very cyclical and we know prices can turn on a dime so I wouldn't necessary count on a special dividend. They are special dividends for a reason - meaning they are not guaranteed. However, all signs point to further special dividends this year since the company's debt load is below its long-term target.

While both TOU and CNQ operate in the Oil & Gas industry, I consider TOU to be best-in-class when it comes to natural gas exposure and CNQ best-in-class when it comes to oil exposure. While there is certainly some overlap, one could comfortable split their exposure in the sector between these two industry leaders.

Mat