Tamarack Valley was recognized
as a TSX Venture 50® company in 2014, 2013 and 2011.
TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
- Tamarack Valley Energy Announces 78% Increase to Reserves and Record Fourth Quarter Production
Tamarack Valley is pleased to announce the results of its independent reserves evaluation as of December 31, 2014, which includes a 78% increase in proved plus probable (“2P”) reserves to 33.236 mmboe, a three year proved plus probable finding, development and acquisition cost average of $25.74/boe and a recycle ratio of 1.5 using 2014 netbacks of $38.92/boe. The Company is also pleased to announce record average production of 7,681 boe/d for the fourth quarter of 2014, which was an increase of 33% from the previous quarter and 77% higher than the same period in 2013.
- Tamarack Valley Energy Ltd. Announces $47 Million Capital Budget for 2015
Tamarack Valley is pleased to announce its Board of Directors has approved the 2015 capital expenditure budget. The Company plans to limit its 2015 capital expenditure program to spending within cash flow and will back-end weight the capital program such that it will pay down debt during the first half of 2015 and maintain financial flexibility. The 2015 capital budget includes a $47 million capital program with only $10.5 million being spent in the first half of 2015.
- Tamarack Valley Energy Ltd. Announces a Record 2014 Exit Production Rate of 9,700 boe/d and Temporary Oil Battery Curtailment
Tamarack Valley Energy is pleased to announce that a successful second half 2014 drilling program in the Wilson Creek area
contributed to a record exit production rate averaging approximately 9,700 boe/d (based on field estimates) during the last 14 days of December, 2014, exceeding its exit production target of 9,500 boe/d. All 10.9 net wells drilled in the fourth quarter were brought on production at various times during December 2014.
- Tamarack Valley Energy Ltd. Announces 2014 Third Quarter Financial and Operating Results. Company on track to exit 2014 producing 9,500 boe/d
Tamarack Valley Energy Ltd. is pleased to announce that a successful drilling program in the Wilson Creek area contributed to estimated average production of 7,950 boe/d during the last week of October with additional behind pipe production capability of approximately 400 boe/d. Tamarack is on target to meet its revised exit rate of 9,500 boe/d (approximately 60% oil & natural gas liquids) and is forecasting Q4 2014 annualized net debt to cash flow to be 1.5 times.
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