06:49 AM EST, 02/25/2025 (MT Newswires) -- Tamarack Valley Energy ( TNEYF ) on Tuesday said net income plunged in the fourth quarter despite an increase in adjusted funds flow.

Net income for the three months ended Dec. 31 declined to $6.4 million, or $0.01 per share, from $57.3 million, or $0.10 per share.

Adjusted funds flow came in at $223.4 million, or $0.42 per share, up from $194.8 million, or $0.35 per share. Full-year 2024 adjusted funds flow rose 11% to a record $851 million.

The company posted oil and natural gas sales of $426.5 million, up from $418.9 million.

Tamarack closed last year with annual production of 64,331 barrels of oil equivalent per days. This year, the company expects annual average production of 65,000 to 67,000 boe/d.