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# Tourmaline, Karoon and the Case for Keeping Cash From Shareholders
- URL: https://members.petroequitysignal.com/tourmaline-karoon-and-the-case-for-keeping-cash-from-shareholders-2/
- Published: 2026-08-18T10:02:40.000Z
- Updated: 2026-08-18T10:02:40.000Z
- Author: Oberon Houston
- Tags: Podcasts

PES tourmailine and karoon

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Oil and gas investors have spent a decade demanding more cash back. Tourmaline and Karoon show why that discipline was necessary — but also why exceptional management may sometimes create more value by keeping some financial capacity intact and waiting for the right opportunity.