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Offering the best attributes of both the royalty and infrastructure energy market segments.

A transparent value proposition generating low risk with a high return

Topaz was established through its key counterparty, Tourmaline Oil Corp., from whom Topaz acquired its formative royalty and energy infrastructure assets in November 2019. Topaz has identified value drivers for its royalty and energy infrastructure businesses which it believes to be critical success factors for sustainability and profitability. Topaz believes that each business model has unique competitive advantages that encompass each of these value drivers which provides its shareholders with the best attributes of the royalty and infrastructure energy market segments.

Our Approach

The strategic relationship with Tourmaline underpins strong growth prospects due to a proven track record and outlook transparency. Tourmaline is well positioned to be an industry consolidator, providing a pipeline of potential future royalty or infrastructure asset sales to Topaz.

Topaz will pursue acquisitions with high-quality counterparties that have substantial resource and organic growth potential, partnering with high-quality operators to secure long term take-or-pay contracts which generate stable revenues.

Topaz will opportunistically pursue other accretive transactions to broaden its asset base.

Topaz’s infrastructure assets are supported by long-term, fixed fee take-or-pay commitments which provide significant, low-risk dividend coverage. The majority of free cash flow will be used to pay dividends with a long-term payout ratio target of 60 to 90%.

Topaz’s business model is focused on generating free cash flow growth. Its conservative capital structure provides strategic flexibility to advance its growth trajectory, in an opportunity rich environment.

Royalty Ownership

Topaz’s GORR revenue is generated from high-quality counterparties which provide capital deployment outlook transparency.

Infrastructure Ownership

There are multiple infrastructure models available, but variability increases moving towards operated ownership. Topaz currently owns non-operated facility interests which are underpinned by long-term fixed fee take-or-pay commitments.