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A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta.
A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta.
(Jeff McIntosh For The Globe and Mail)

Pressure is on newly flush oil firms to deliver

Junior and intermediate energy companies have pocketed $1.2-billion selling shares in the past three months. Now it’s go time.

Tourmaline Oil is the latest to market, raising $244-million in a bought deal that was upsized by $59-million overnight. This means that underwriters increased their risk by putting up more capital, responding to demand for the stock even with crude prices weakening.