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

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Oil & C$408.27

Nat Gas mln

Revenue

Q2 Net C$86.24

Income mln

Q2 Net C$711.13

Debt mln

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 ( TNEYF ) 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.)