Tourmaline Oil (TSX:TOU, Financial) increased 38.1% in the quarter and was the top performer in the portfolio. The company reported strong second quarter results with higher production, lower operating costs, and reduced debt. Stronger natural gas prices in August also helped the stock, as warmer summer weather improved demand while the California wildfires tightened supplies. We trimmed our position on the recent stock price strength.
From Leith Wheeler Canadian Equity (Trades, Portfolio)'s third-quarter 2020 review.
