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Tamarack Valley Energy Ltd (TVE.TO)

TVE.TO on Toronto Stock Exchange

2.54CAD
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Tamarack Valley Energy reports Q3 FFO ‍$0.15​ per share
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Tamarack Valley Energy Ltd :Tamarack Valley Energy Ltd. announces record 2017 third quarter results and increased 2017 capital.Tamarack Valley Energy Ltd - ‍corporate production in Q3 of 20,541 boe/d, up 6% over Q2 2017 and more than 90% over Q3 2016​.Tamarack Valley Energy Ltd - ‍intends to accelerate $10-15 million of Q1 2018 capital into company's Q4 2017 program​.Tamarack Valley Energy Ltd - ‍ accelerated Q4 capital will result in an increased full year 2017 capital program of $195-198 million​.Tamarack Valley Energy Ltd qtrly FFO ‍$0.15​ per share.Tamarack Valley Energy Ltd qtrly ‍total revenue $63.9 million versus $31.6 million​.Tamarack Valley Energy Ltd - ‍commenced mid-year lending review, management expects bank line increase to $290 million from $265 million by December 31, 2017​.Tamarack Valley Energy Ltd - ‍anticipates full year 2017 production will average near upper end of annual guidance range of 19,000 to 20,000 boe/d​.Tamarack Valley Energy Ltd - ‍initial forecasts anticipate an "active" Q1 2018 drilling program with spending of $65-75 million in quarter​.  Full Article

Tamarack Valley Energy announces operational update, record Q4 production and Board appointment
Wednesday, 18 Jan 2017 

Tamarack Valley Energy Ltd : Tamarack Valley Energy Ltd. announces operational update, record fourth quarter production and board appointment . Tamarack Valley Energy Ltd says company's previously announced 2017 guidance is reaffirmed . Tamarack Valley Energy - During quarter, Tamarack achieved production that averaged about 11,453 boe/d (55% liquids) based on December field estimates .Q4 volumes are 6% higher than previous quarter and 16% higher than 2015 Q4 rate.  Full Article

Tamarack Valley Energy Q2 FFO per share C$0.13
Thursday, 11 Aug 2016 

Tamarack Valley Energy Ltd : Tamarack Valley Energy Ltd announces 2016 second quarter results . Production in quarter averaged 9,536 boe/d (52% liquids), an increase of 36% over Q2 of 2015 . Qtrly total revenue $24.5 million versus $25.3 million . Tamarack will maintain target payouts of 1.5 years or better on its capital projects during second half of 2016 . For H2, targeting modest production growth, while continuing to keep capital spending below projected funds from operations . Re-affirming 2016 annual average production guidance of between 9,700-10,000 boe/d . Q2 FFO per share C$0.13 . Relative to Q1 of 2016, Tamarack was able to successfully maintain flat production levels .Production is expected to average 9,800 to 10,500 boe/d for second half of 2016.  Full Article

Tamarack Valley Energy sees 2016 capital expenditure budget of $45-$53 mln
Monday, 25 Jul 2016 

Tamarack Valley Energy Ltd : Announces closing of strategic acquisitions, new credit facility and second quarter production . Sees 2016 capital expenditure budget of between $45-$53 million . Total aggregate cash consideration for Redwater acquisition was $25.8 million . 2016 guidance confirmed . Says co's new bank line was put into place with a total credit capacity of $120 million . First half 2016 production of approximately 9,560 boe/d at upper end of guidance range of 9,100 to 9,600 boe/d . Cardium oil wells are expected to positively impact production volumes in last half of 2016 . Previous borrowing base of $165 million has been reduced to $120 million . Average daily production through Q2 2016 was approximately 9,536 boe/d . Bank line is comprised of a revolving credit facility in amount of $110 million and a $10 million operating facility .New bank facility lasts for a 364 day period and will be subject to its next 364 day extension by May 26, 2017.  Full Article

Tamarack Valley Energy buys assets for $85 mln, raises 2016 guidance
Tuesday, 21 Jun 2016 

Tamarack Valley Energy Ltd : Tamarack valley Energy Ltd. announces strategic acquisitions, $72 million bought deal financing and increased 2016 guidance . Total aggregate cash consideration for which will be $85 million . Entered into binding agreements to undertake two strategic asset acquisitions . Acquisitions will be partially funded with a $72 million bought deal equity financing . Acquisitions are expected to add about 1,900 boe/in aggregate, and include 95 total sections of land at redwater and wilson creek . First acquisition is consolidation of assets located in tamarack's core operating areas of redwater,wilson creek in alberta . Average estimated 2016 annual production guidance increased to between 9,700-10,000 boe/d (approximately 53-57% oil & NGLs) . Second acquisition is comprised of a light oil pool at Penny in Southern Alberta . 2016 capital expenditure budget increased to between $45-$53 million . Accretion to 2016 estimates is forecast to be 5% on cash flow per share from deals and financing . Says expects deals to be accretive to 2016 estimates by about 5% on cash flow per share . Accretion of 14% to current annualized cash flow per share, assuming 12-month forward strip prices at june 17 from deals and financing.  Full Article

Tamarack Valley posts Q1 loss per share $0.06
Wednesday, 11 May 2016 

Tamarack Valley Energy Ltd : Tamarack Valley Energy Ltd announces 2016 first quarter results . Production in quarter averaged 9,582 boe/d (55 pct liquids), an increase of 18 pct over Q1 of 2015 . Qtrly loss per share $0.06 . Re-Affirming its 2016 annual average production guidance of between 8,700-9,700 boe/d . Qtrly total revenue $19.6 million versus $25.3 million . As a result of activity in Q1, tamarack is currently exceeding internal expectations . Should commodity prices change for a sustained period, company will look to adjust its 2016 capital expenditure program .Co's first half 2016 average production is on target to be within upper half of its guidance range of 9,100 to 9,600 boe/d..  Full Article

Tamarack Valley Energy Ltd gives FY 2016 production guidance
Tuesday, 19 Jan 2016 

Tamarack Valley Energy Ltd:Expects FY 2016 average production of 9,500-9,700 boe/d (about 52-57% oil & NGLs).Expects FY 2016 exit production of 9,600-9,800 boe/d (about 52-57% oil & NGLs).  Full Article

BRIEF-Tamarack Valley Energy reports Q3 FFO ‍$0.15​ per share

* Tamarack Valley Energy Ltd. announces record 2017 third quarter results and increased 2017 capital