"Natural gas offers an immediate and scalable solution. As Canada begins exporting LNG to global markets off its west coast, we’re seeing a once-in-a-generation opportunity to boost our economy, reduce global emissions, and ensure energy security."
Michael Rose
President, Chief Executive Officer & Chairman
- 25%
reduction in methane emissions intensity since 2020
Reducing Emission Intensity
- $50 Million
invested in environmental performance improvement initiatives in 2024
Investing in EPI
- First
Canadian natural gas producer to transport gas to international markets via LNG
Market Access
- Lowest
nonsaline water use intensity of Alberta Producers
Water Use Intensity
- 460,000 mmbtu/d
of LNG supply deals signed since 2021
LNG
- Top 10%
Platinum Rating in pilot project on 60 NEBC wells ranked in North America
Top Performing Producer
We are Canada’s largest natural gas producer.
From our operations in British Columbia and Alberta, we are proud to send our natural gas across Canada, into the United States, and to international markets. Tourmaline sells its natural gas in Canada to British Columbia, Alberta and Ontario; within the United States to the West Coast, the Midwest and the US Gulf Coast; and at the start of 2023, we became the first Canadian producer to supply natural gas to Asian and European markets.
We focus on providing value for our stakeholders in many ways. We are committed to responsibly developing natural gas, fostering a technically strong and passionate work force, continuously improving our environmental performance, and creating strong relationships in the communities we call home.
Overview
Tourmaline is proud to responsibly produce Canada’s world-class natural gas assets. We strive to continuously improve all aspects of our environmental performance, including the impact of our operations on air, water and land. To support our progress, we focus on technologies and innovative strategies that minimize our environmental footprint.
Environment
We are proud to invest in our team and the communities we call home. Whether we’re implementing our robust health-and-safety program, investing in community initiatives, or fostering our relationships with Indigenous peoples, at Tourmaline we prioritize people.
Social
Tourmaline’s Management and Board of Directors are committed to high standards of corporate governance. We believe that strong corporate governance is a key driver in long-term value creation for all stakeholders.
Governance
- Largest
natural gas producer in Canada
Industry Leader
- 77%
of our production is natural gas
Responsible Senior Producer
- Largest
Tier 1 natural gas inventory holder in North America
Significant Resource Owner
Our Unique Value Proposition
Our Assets
Tourmaline is proudly Canadian. We are based in Calgary, Alberta, and have significant positions in three of Western Canada’s major resource plays: the Alberta Deep Basin, the northeast British Columbia Montney complex and the Peace River High complex.
Our Strategy
Tourmaline’s business strategy is to maximize shareholder value by increasing reserves, production and cash flows through the exploration and development of a continually growing asset base. We believe in the power of technology and innovation to drive efficiency in operations, strong financial results and improved environmental performance. Our goal is to have the largest supply of low-development-cost and lower-emission natural gas in North America.
Our People
Tourmaline values and respects its people. We believe each employee and contractor plays an important role in the success of our company and we strive to empower them to achieve their full potential. Our workforce has low turnover and high productivity per boe of production, reserves and cash flow amongst our peer group.
Our Stakeholders
We are dedicated to fostering strong and lasting relationships with all our stakeholders. We engage in active dialogue and meaningful discussions, prioritizing feedback from our stakeholders. Our aim is to ensure that the benefits of our success are shared widely. This commitment also extends to building strong connections within the communities where we live and work.
Our Future
We are committed to responsibly developing natural gas while continuously improving our environmental performance. Tourmaline strives to consistently improve and reduce our cost structure while remaining competitive in the everchanging energy landscape. We are proud to do our part and help Canada become an energy superpower and support having the world transform to a lower-emitting global energy environment.
Tourmaline’s success is built on developing strong relationships with our stakeholders through active dialogue and positive actions.
Shareholders & Lenders
Suppliers & Contractors
Communities
Indigenous Communities
Employees
Government & Regulatory Bodies
Our Approach to Sustainability Reporting
This report details our sustainability performance for all businesses, assets, and partnerships that are owned and operated by Tourmaline for the period between January 1 to December 31, 2024, and includes reference to certain actions Tourmaline undertook in both 2024 and 2025. Unless otherwise stated, references to “dollars” or “$” means Canadian dollars. Tourmaline successfully acquired Crew Energy Inc. (“Crew”) on October 1, 2024, and Todd Energy Canada Limited (“Todd”) on December 1, 2024, both of which were amalgamated January 1, 2025. The performance data included in this report is pro-rated to reflect these business combinations, unless otherwise stated. It only reflects performance data for Crew after October 1, 2024 and Todd after December 1, 2024. We have not adjusted current targets or historical performance to reflect the impact of these acquisitions.
Scope
We are committed to transparent, annual reporting on our sustainability performance. Within this report, we are pleased to share comprehensive information on the progress we made in 2024. Our greenhouse gas emissions (GHG) emissions are measured and reported using the GHG Protocol Corporate Accounting and Reporting Standard and Scope 2 Guidance. We’ve included a section outlining how we are meeting recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD), and we have incorporated discussion points and metrics outlined by Sustainability Accounting Standards Board (SASB). The specific industry classification system is SASB EM-EP-Oil & Gas Exploration & Production. The Global Reporting Initiative (GRI) reporting framework has also been used to provide additional industry-specific guidance (GRI 305-2). We are continuing to integrate the guidance released from the International Sustainability Standards Board (ISSB) as well as the Canadian Sustainability Standards Board (CSSB) and preparing for our data to have the same rigor as financial statement information.
Standards & Frameworks
At Tourmaline, we track and report relevant data that is important to our stakeholders. To ensure we are sharing high quality information based on advanced data systems, we are constantly improving our processes and controls for data and measurement capture capability. Tourmaline’s GHG Scope 1 and 2 emissions have been externally verified. GHD Limited has provided a reasonable level of assurance on Tourmaline’s 2024 Scope 1 and 2 emissions. This verification was carried out in accordance with the requirements of GHG Protocol and ISO Standard 14064-3. Ernst & Young LLP has provided a limited level of assurance, as defined by Canadian Standards on Assurance Engagements, to report on Tourmaline’s Scope 1 and 2 GHG emissions for the year ended December 31, 2024.
Assurances
Materiality Assessment
To develop our sustainability report, we review and highlight the most relevant sustainability priorities for our business and those that matter most to our stakeholders.
We believe the most important aspect of a sustainability and climate-related materiality assessment is ongoing engagement. Through continuous dialogue with our stakeholders, we better understand the priority risks and opportunities of today and tomorrow.
Continuous improvement is the pathway to a lower-emission world – and we are proud to do our part. We incorporate our environmental improvement goals within our business strategy and development plans.
We Operate
our business responsibly, respecting air, land and water. Our goal is to ensure that future generations can enjoy a better standard of living through affordable and secure energy access.
We invest
capital through a disciplined evaluation of project economics, operational efficiency, and environmental advantages to deliver long-term value to our shareholders. We are strong financial stewards for our investors.
We engage
actively with local communities to ensure we are respectful members of the community and everyone benefits from our operations.
We protect
our employees with a safe and respectful work environment. Our people drive our business, and we encourage their continued outstanding performance.
We ensure
our exceptional and loyal service providers benefit from Tourmaline’s operations and receive fair compensation when working with us. We ensure high-quality information based on real-time data.
We exceed
and meet the requirements as established by regulators and the government to ensure we are the best at what we do, as is the case in all aspects of our business.
Strategic Pillars
- 2.2 million
m3 of water recycled in 2024 — the equivalent of over 6 million canadians' water usage
Water Management
- 42%
reduction in TRIF rating from 2020
Health and Safety
- 37%
of our employees are female
Gender Diversity
We have set ambitious targets to guide Tourmaline’s environmental performance improvement and help our business remain resilient and profitable as the world progresses the energy transformation.
Achieve a 25% reduction in corporate emission intensity (scope 1) from 2018 reported levels by 2027.
On Track
Target
Reduce methane emission intensity by 55% from 2020 reported levels by 2027.
On Track
Target
Eliminate the use of fresh water throughout our core gas operations.
On Track
Target
Highlights
All
Our Natural Gas Opportunity
Social
Environment
Governance