tamarack valley energy ltd (TNEYF) Key Developments
Tamarack Valley Energy Ltd. Completes its Acquisition of Certain Assets Located in the Greater Wilson Creek Area of Alberta
Jun 15 15
Tamarack Valley Energy Ltd. has successfully completed its previously announced acquisition of certain assets located in the greater Wilson Creek area of Alberta, contiguous with Tamaracks existing Cardium interest in Wilson Creek, for an aggregate purchase price of $43.3 million, subject to normal closing adjustments. On the acquisition lands, the company has identified 40 net one-mile equivalent high-quality, one year or less payout Cardium drilling locations using current strip pricing and current realized industry service costs. Pursuant to the acquisitions, Tamarack has also acquired 100% ownership in facilities, which include a six mmcf-per-day gas plant, 1,000 bbl-per-day central oil battery and over 220 kilometres of emulsion and pipeline infrastructure, which, in the aggregate, the company has estimated to have a replacement cost in excess of $60 million.
Tamarack Valley Mulls Acquisitions
Jun 4 15
Tamarack Valley Energy Ltd (TSXV:TVE) is seeking acquisitions. The company said that it plans to "cautiously proceed" with a drill program over the rest of the year while keeping an eye out for more acquisition opportunities.
Tamarack Valley Energy Ltd Provides Earnings Guidance for the Year 2015
May 14 15
Tamarack Valley Energy Ltd. provided earnings guidance for the year 2015. For the year, the company expected an increase in its capital expenditure budget to between $130 million to $140 million from $47 million. Resulting in 2015 estimated production guidance between 8,000-8,200 boe/d (approximately 58-62% oil & NGLs) and an 2015 exit production rate of approximately 10,000 boe/d (approximately 58-62% oil & NGLs). The Company is also making progress towards achieving its targeted 20% reduction in capital costs to improve on capital efficiencies. 2015 accretion is forecast to be 4% on cash flow per share, 3% on production per share and 20% on net asset value per share.
Tamarack Valley Energy Ltd Reports Earnings and Production Results for the First Quarter Ended March 31, 2015
May 13 15
Tamarack Valley Energy Ltd. reported earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $25,310,633 against $24,498,255 a year ago. Funds from operations were $13,742,786 or $0.18 basic and diluted share against $13,445,163 or $0.25 basic and diluted share a year ago. Net loss was $5,241,630 or $0.07 loss per basic and diluted share against net income of $1,790,681 or $0.03 basic and diluted earnings per share a year ago. Net debt as at March 31, 2015 was $121,159,015 against $37,130,296 a year ago. Capital expenditures were $5,028,174 against $25,012,046 a year ago.
For the quarter, the company reported total average daily production of 8,092 (boe/d) against 4,182 (boe/d) a year ago. Funds flow from operations netback was $18.87 per Boe against $35.72 per Boe.
Tamarack Valley Energy Ltd Presents at 2015 CAPP Scotiabank Investment Symposium, Apr-09-2015 09:00 AM
Mar 24 15
Tamarack Valley Energy Ltd Presents at 2015 CAPP Scotiabank Investment Symposium, Apr-09-2015 09:00 AM. Venue: Sheraton Centre Hotel, 123 Queen Street West, Toronto, Ontario, Canada. Speakers: Brian L. Schmidt, Chief Executive Officer, President and Director.