On March 4, 2026, Tourmaline Oil Corp. announced it is cutting its planned spending by $400 million for the year to focus on paying down debt and managing costs. This change impacts the Dawson Creek, British Columbia, region where the company is a major employer and operator in the local natural gas industry.
The total reduction includes $350 million taken from the company’s production budget and another $50 million from other spending areas. A portion of these cuts—specifically $175 million deferred from the company’s major gas complexes in Western Canada, including those in Northeast B.C.—may affect local maintenance and service contracts for businesses in the community.
According to a company report, the lower spending is expected to have a very small impact on how much gas is actually produced. Leaders say current wells are performing better than first expected, allowing the company to keep production steady while spending less money on new projects.
In February 2026, the energy producer sold its Peace River High assets for $765 million to focus more on its two main gas projects, including the NEBC Montney project near Dawson Creek. This move is part of a larger plan by the company to manage debt and respond to changing prices in the energy market.
