Record-Breaking Production
Tamarack Valley Energy set a new corporate production record, averaging 70,260 BOEs per day in Q2 2025, with a peak of over 74,300 BOE per day in April.
Debt Reduction Success
Net debt was reduced by 19% year-over-year, down to $711 million, with a successful bond offering supporting debt laddering.
Waterflood Success and Expansion
Strong production response from waterflood patterns exceeded baseline volumes, with water injection rates in the Clearwater increasing to 20,000 barrels per day and a target of 30,000 barrels by year-end.
Increased Production and Decreased Costs
Production guidance for 2025 was revised up by 3%, capital spending was reduced by 7%, and production expenses were reduced by 5%.
Strategic Acquisition
Closed a $51.5 million acquisition of a Clearwater producer, adding 17% to Clearwater land holdings and enhancing synergies.