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Last C$2.74 CAD
Change Today -0.09 / -3.18%
Volume 284.2K
TVE On Other Exchanges
As of 3:51 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

tamarack valley energy ltd (TVE) Snapshot

Previous Close
Day High
Day Low
52 Week High
09/4/14 - C$7.87
52 Week Low
07/27/15 - C$2.51
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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tamarack valley energy ltd (TVE) 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 (TVE) 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 (TVE) Key Developments

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. Completes its Acquisition of Certain Assets Located in the Greater Wilson Creek Area of Alberta

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

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.


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