Tamarack Valley released its Q2 results this morning, and the stock has responded well, currently up ~3% and at multi-year highs.
Click here to see the full company press release.
Figure 1
Chart courtesy of StockCharts.com
Of particular note were the comments around the Clearwater waterflood. The company has seen some excellent results. From the press release:
Clearwater production increased by 16% YoY to average 46,486 boe/d(11) (91% oil & liquids) in Q2/25, reflecting success of our development program and continued strong response from ongoing expansion of the waterflood program. Through Q2/25, Tamarack drilled 13 Clearwater injection wells and converted five wells to injection. In H2/25, Tamarack plans to drill 45 primary wells, nine injectors and to convert an additional 10 wells to injection. This will support plans to grow water injection to >30,000 bbl/d by the end of the year, representing a 200% YoY increase.
Clearwater waterflood response across our acreage continues to outperform with total heavy oil uplift from waterflood now exceeding 3,750 bbl/d, representing ~9% of Q2/25 Clearwater heavy oil production. Recently, Tamarack’s 15-02-075-25W4 and 16-02-075-25W4 Marten Hills patterns have shown strong incremental response and are currently producing at >725 bbl/d and >750 bbl/d respectively. This represents an uplift of >1,300 bbl/d compared to the combined primary baseline of ~80 bbl/d from only two waterflood patterns. In June, after 6.5 years on-stream, these patterns ranked as the top two Clearwater multi-lateral producers of the month, underscoring the robust potential of the Clearwater waterflood. The Company plans to convert an additional three injectors offsetting the Marten Hills patterns in H2/25 as part of the ten well injector conversion program. Tamarack’s 102/01-11-074-25W4 W-pattern also continues to outperform expectations and is now producing at more than 250 bbl/d above its primary baseline of 75 bbl/d.
The company highlights this well, which has been on production for more than 6 years. The waterflood impact is quite stunning with this well producing at its highest rate yet even after all that time. See it below on StackDX Maps.
Figure 2 – Tamarack Valley 102150207525W400
Tamarack also highlights this well, which has also been on production for more than 6 years and is also producing at its highest rate yet.
Figure 3 – Tamarack Valley 100160207525W400
These 2 wells represent the top producers in the Clearwater for the month of June, which is pretty incredible for wells that are 6+ years old.