onurdongel/E+ via Getty Images Introduction Back when I last covered Tourmaline Oil ( TRMLF ), I reiterated their Strong Buy rating, titling the article “Deep Value Remains As Major Inflection Point Approaches” and highlighting the stock’s attractive valuation amid the major FCF inflection expected from 2028 as new projects and premium sales ramp up. Following a strong quarter and the company adva...
onurdongel/E+ via Getty Images Introduction Back when I last covered Tourmaline Oil ( TRMLF ), I reiterated their Strong Buy rating, titling the article “Deep Value Remains As Major Inflection Point Approaches” and highlighting the stock’s attractive valuation amid the major FCF inflection expected from 2028 as new projects and premium sales ramp up. Following a strong quarter and the company advancing on its cost reductions and significant growth projects, TRMLF remains a Strong Buy, standing to benefit from a re-pricing backed by their internal developments, as well as Canada’s and natural gas’ long-term tailwinds. Pivotal Years Advancing Tourmaline Oil IR Tourmaline Oil reported a solid Q1 overall thanks to a mix between their international pricing exposure, record-breaking production, and continued operating cost controls, being on track to reach their ~9% cost reduction target for 2026 (and room for even more by 2031 based on their raised cost reduction target; from $1/boe to $1.5/boe), further highlighting what I’d call one of the best management in the entire industry. Tourmaline Oil IR For 2026, Tourmaline expects production of about 620,000 to 640,000 boe/d, with C$945 million in FCF. Following the C$350 million capital budget reduction announced earlier in 2026, the management confirmed their C$2.55 billion E&P capital budget for the year (CAPEX of C$2.65 billion), with the CEO also noting during the Q1 Earnings Call : We have identified an additional $200 million of what is primarily D&C capital that could be deferred from the '26 EP program should Western North American nat gas prices remain weak through the whole year. Tourmaline's exposure to international LNG prices and the increasing liquids pricing has improved current '26 free cash flow estimates to a little over $0.9 billion, and the free cash flow benefit from our exposure to JKM and TTF pricing via our LNG export-related contracts will not be realized until Q2, and that's due to the timing of LN...
Taiwan's TSMC, the world's largest contract chipmaker, said on Thursday it is confident in its growth over the next few years, driven by robust demand for computing power and advanced semiconductors, as it rides an AI boom. Chief Executive C.C. Wei, speaking at TSMC's annual shareholders' meeting in the northern Taiwanese city of Hsinchu, added that its customers continue to express a positiv...
Taiwan's TSMC, the world's largest contract chipmaker, said on Thursday it is confident in its growth over the next few years, driven by robust demand for computing power and advanced semiconductors, as it rides an AI boom. Chief Executive C.C. Wei, speaking at TSMC's annual shareholders' meeting in the northern Taiwanese city of Hsinchu, added that its customers continue to express a positive outlook for the AI industry. Taiwan has taken centrestage this week as it hosts the annual Computex conference, where leaders of some of the world's most powerful tech companies are gathering, with executives from the likes of Nvidia to Intel praising the island's central role in the global supply chain.
US Special Ops Fields Caliber-Swapping MK24 Rifle For 7.62 Combat And 6.5 Range Authored by Aamir Khollam via Interesting Engineering , A new rifle heading to U.S. special operations forces can switch between 7.62mm NATO and 6.5mm Creedmoor ammunition in roughly a minute , giving operators a way to adapt to changing mission requirements without carrying separate weapon systems. MK24 modular rifle ...
US Special Ops Fields Caliber-Swapping MK24 Rifle For 7.62 Combat And 6.5 Range Authored by Aamir Khollam via Interesting Engineering , A new rifle heading to U.S. special operations forces can switch between 7.62mm NATO and 6.5mm Creedmoor ammunition in roughly a minute , giving operators a way to adapt to changing mission requirements without carrying separate weapon systems. MK24 modular rifle (LMT Defense on Facebook) The weapon, known as the MK24 Medium Range Gas Gun Assault (MRGG-A), will begin reaching units before the end of the fiscal year. U.S. Special Operations Command (SOCOM) selected the platform to replace the MK17 SCAR and awarded manufacturer LMT Defense a 10-year, $92 million contract last year. The rifle also supports SOCOM's broader effort to improve performance at longer ranges while maintaining flexibility in the field. Built For Flexibility The MK24's defining feature is its quick-change barrel system. Operators can swap between 7.62mm NATO and 6.5mm Creedmoor configurations in about a minute, allowing the weapon to adapt to different operational needs. The requirement emerged from real-world deployment challenges. U.S. forces frequently operate alongside partner militaries that rely on different ammunition stocks. By allowing rapid caliber changes, the MK24 can continue using widely available 7.62mm rounds while giving operators access to 6.5mm Creedmoor when missions demand greater accuracy at distance. LMT Defense designed the rifle around a 14.5-inch barrel, creating a package closer in size to an M4 carbine. Despite its compact footprint, the weapon aims to deliver the performance expected from larger precision-focused systems. Why 6.5 Creedmoor The adoption of 6.5mm Creedmoor reflects years of testing by SOCOM as it evaluated alternatives to legacy military cartridges. The command examined nearly two dozen ammunition types and reportedly found that 6.5mm Creedmoor delivered some of the strongest overall performance at ranges approaching ...
A number of stocks fell in the afternoon session after rising Treasury yields compressed valuations for growth-oriented names as geopolitical uncertainty dulled the advertising outlook.
A number of stocks fell in the afternoon session after rising Treasury yields compressed valuations for growth-oriented names as geopolitical uncertainty dulled the advertising outlook.