11:58 AM EDT, 05/07/2025 (MT Newswires) -- (Updates shares.)

Tamarack Valley Energy ( TNEYF ) on Wednesday said it swung to a profit in the first quarter as oil and natural gas sales rose 13%.

The Western Canadian oil and gas producer said it earned $64.3 million, or $0.12 per share, in the quarter, compared with a year-prior loss of $32.7 million, or $0.06.

Oil and natural gas sales came in at $444.3 million, up from $393.3 million. The company produced 67,697 barrels of oil equivalent per day, up from 62,022 boe/d.

Tamarack Valley maintained its 2025 production guidance of 65,000 to 67,000 boe/d. Management expects production to trend toward the high end of the annual guidance range given the production performance to date.

The company also expects to spend $430 million to $450 million in 2025.

Tamarack Valley shares were last seen up $0.12 to $3.75 on the Toronto Stock Exchange.

Price: 3.73, Change: +0.10, Percent Change: +2.75