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Last $1.89 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

tamarack valley energy ltd (TNEYF) Snapshot

Open
$1.88
Previous Close
$1.89
Day High
$1.89
Day Low
$1.88
52 Week High
09/4/14 - $7.24
52 Week Low
08/25/15 - $1.61
Market Cap
188.9M
Average Volume 10 Days
349.0
EPS TTM
--
Shares Outstanding
99.9M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for TAMARACK VALLEY ENERGY LTD (TNEYF)

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tamarack valley energy ltd (TNEYF) Details

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It holds interests in Cardium light oil resource plays in Lochend, Garrington/Harmattan, and Buck Lake in Alberta; Viking light oil resource plays in Redwater, Foley Lake, and Westlock in Alberta; and heavy oil properties located southeast of Lloydminster in Saskatchewan. The company was formerly known as Tango Energy Inc. and changed its name to Tamarack Valley Energy Ltd. in June 2010. Tamarack Valley Energy Ltd. was incorporated in 2002 and is headquartered in Calgary, Canada.

13 Employees
Last Reported Date: 03/12/15
Founded in 2002

tamarack valley energy ltd (TNEYF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$245.8K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$208.3K
Vice President of Production & Operations
Total Annual Compensation: C$208.3K
Vice President of Exploration
Total Annual Compensation: C$191.7K
Vice President of Land and Officer
Total Annual Compensation: C$191.7K
Compensation as of Fiscal Year 2014.

tamarack valley energy ltd (TNEYF) Key Developments

Tamarack Valley Energy Ltd. Announces Unaudited Consolidated Earnings and Production Results for Second Quarter and Six Months Ended June 30, 2015; Provides Production Guidance for the Year 2015

Tamarack Valley Energy Ltd. announced unaudited consolidated earnings and production results for second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of CAD 25,330,543, funds from operations of CAD 13,185,630 or CAD 0.16 per basic and diluted share, net loss of CAD 2,141,787 or CAD 0.03 per basic and diluted share compared to total revenue of CAD 32,322,265, funds from operations of CAD 17,789,622 or CAD 0.29 per basic and diluted share, net income of CAD 5,242,572 or CAD 0.08 per diluted share a year ago. Capital expenditures were CAD 68,419,889 against CAD 40,742,269 a year ago. Net debt was CAD 97,280,149 compared to CAD 59,489,653 a year ago. For the six months, the company reported total revenue of CAD 50,641,176, funds from operations of CAD 26,928,416 or CAD 0.33 per basic and diluted share, net loss of CAD 7,383,417 or CAD 0.09 per basic and diluted share compared to total revenue of CAD 56,820,520, funds from operations of CAD 31,234,785 or CAD 0.54 per diluted share, net income of CAD 7,033,253 or CAD 0.12 per basic and diluted share a year ago. Capital expenditures were CAD 73,448,063 against CAD 65,754,315 a year ago. For the quarter, the company reported average daily production of light oil of 3,029 bbls/d compared to 2,799 bbls/d for the same period a year ago. Natural gas production was 16,972 mcf/d compared to 12,033 mcf/d for the same period a year ago. Total average daily production was 6,992 boe/d compared to 5,203 boe/d a year ago. For the six months, the company reported average daily production of light oil of 3,525 bbls/d compared to 2,451 bbls/d for the same period a year ago. Natural gas production was 17,415 mcf/d compared to 11,565 mcf/d for the same period a year ago. Total average daily production was 7,539 boe/d compared to 4,696 boe/d a year ago. The company is still expecting to achieve its 2015 annual production guidance of between 8,000-8,200 boe/d (approximately 55-60% oil & NGLs).

Tamarack Valley Energy Ltd Reports Production Results for the Second Quarter of 2015; Provides Production and Capital Expenditure Guidance for the Full Year of 2015

Tamarack Valley Energy Ltd. reported production results for the second quarter of 2015. For the quarter, the company’s average daily production was 6,992 boe/d (60% oil &NGL's) represents a 34% increase from the same period in 2014. Despite higher than expected downtime on various TransCanada pipelines during the quarter, Tamarack was able to exceed internal production guidance of 6,300 to 6,500 boe/d due to performance in the Wilson Creek area of Alberta and the Hatton area of Saskatchewan. Current production based on field estimates is approximately 8,525 boe/d (58% oil &NGL's) with 6 (4.4 net) wells still waiting to be brought on production. Late in the second quarter of 2015, the company fracture stimulated 4 (2.4 net) horizontal Cardium wells that were drilled in late 2014 and early 2015. On May 14, 2015 in conjunction with announcing the Wilson Creek acquisition, Tamarack announced an increase to its 2015 capital program to between $130 and $140 million. That program was based on Edmonton Par prices averaging over $67/bbl Cdn in the second half of 2015, which was below the forward strip at that time. Edmonton Par prices have since decreased to under $60/bbl Cdn. Although Tamarack could expect to achieve payouts in 1.0 to 1.5 years or less assuming current costs for services and an Edmonton Par price of at least a $60/bbl Cdn, Tamarack's strategy remains focused on preserving its balance sheet and maintaining liquidity in order to take advantage of tuck-in opportunities within its means in this lower price environment. In response to this recent decrease in crude oil prices the Company has therefore prudently elected to reduce its 2015 capital program and revise its 2015 exit production guidance as follows: A decrease in its capital expenditure budget to between $125 and $130 million from $130 to $140 million (including the $54 million of acquisitions closed during the second quarter of 2015). 2015 estimated production guidance unchanged between 8,000-8,200 boe/d (approximately 55-60% oil &NGLs). 2015 exit production rate reduced to between 9,200-9,500 boe/d from 10,000 boe/d (approximately 55-60% oil &NGLs).

Tamarack Valley Energy Ltd, Annual General Meeting, Aug 27, 2015

Tamarack Valley Energy Ltd, Annual General Meeting, Aug 27, 2015., at 13:30 US Mountain Standard Time. Location: Devonian Room of the Calgary Petroleum Club. Agenda: To receive the consolidated financial statements of the corporation and the auditors' report thereon for the years ended December 31, 2014 and December 31, 2013 and the unaudited interim condensed consolidated interim financial statements of the corporation as at March 31, 2015 and for the three months ended March 31, 2015 and 2014; to elect the directors of the corporation for the ensuing year; to appoint auditors of the corporation for the ensuing year and to authorize the directors of the corporation to fix their remuneration as such; and to transact such other business as may properly come before the meeting or any adjournments thereof.

 

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