Overview
* Tamarack Q2 production hits record 70,260 boe/d, up 19% YoY
* Adjusted funds flow per share at C$0.39, free funds flow at C$0.26
* Co completes C$51.5 mln acquisition, boosting Clearwater production
Outlook
* Tamarack raises 2025 production guidance by 3% to 67,000-69,000 boe/d
* Company reduces 2025 capital spending guidance by 7%
* Net production expense guidance lowered by 5% for 2025
* Interest expense guidance cut by 6% for 2025
Result Drivers
* RECORD PRODUCTION – Tamarack achieved record production of 70,260 boe/d in Q2, driven by heavy oil volume growth and waterflood success
* EFFICIENCY GAINS – Improved capital efficiencies and reduced net production expenses supported strong free funds flow generation
* CLEARWATER ACQUISITION – Strategic acquisition added 1,100 bbl/d of Clearwater production, enhancing Tamarack’s asset base
Analyst Coverage
* The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 9 “strong buy” or “buy”, 2 “hold” and no “sell” or “strong sell”
* Wall Street’s median 12-month price target for Tamarack Valley Energy Ltd is C$6.00, about 11.2% above its July 29 closing price of C$5.33
Press Release:
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)