Tamarack Valley Energy

Tamarack Valley Energy Ltd. is a Canadian oil and gas company focused on acquiring and developing high-quality oil assets in Alberta, Canada. The company produces light oil, heavy oil, and natural gas with main areas of operations in the Clearwater oil play in northern Alberta and the Charlie Lake light oil play in northwestern Alberta.

As of Q4 of 2022, Tamarack had production of 64,350 barrels of oil equivalent per day of which 82% are liquids. The company has 242.2 million barrels of proved plus probable reserves, of which 78% is oil and liquids. Tamarack has extensive land holdings in the Clearwater fairway with 665 net sections of land, and over 250 net sections of land in the Charlie Lake area.

Tamarack is currently in the production and development stage, having transitioned from a smaller scale to a mid-tier producer through acquisitions. The company is focused on developing its Clearwater and Charlie Lake assets, applying technologies like pad drilling and enhanced oil recovery methods to drive efficiencies. Key infrastructure investments provide Tamarack control over processing and market access.

The company has a sustainability-linked credit facility and sustainability-linked bonds, with targets linked to emissions intensity reductions and Indigenous community representation. Tamarack also has a framework to return capital to shareholders through dividends and share buybacks. The company is targeting debt reduction in 2024 to achieve a strong balance sheet.