Tamarack Valley Energy Ltd ( (TNEYF) ) has released its Q4 earnings. Here is a breakdown of the information Tamarack Valley Energy Ltd presented to its investors.
Tamarack Valley Energy Ltd. is a Canadian oil and gas exploration and production company focused on sustainable free funds flow generation, operating primarily in the Charlie Lake and Clearwater plays in Alberta.
Tamarack Valley Energy Ltd. reported record financial performance for 2024, with annual production exceeding expectations and achieving a new corporate record in adjusted funds flow (AFF) of $851 million. The company also highlighted significant shareholder returns and operational improvements.
Key financial metrics for 2024 included a 65% year-over-year increase in free funds flow, totaling $387 million, which was directed towards dividends, enhanced returns, and debt repayment. Tamarack also reduced its net debt by $208 million, ending the year with a debt to EBITDA ratio of 0.8x. Production performance was strong, with a 10% increase in Clearwater and a 9% increase in Charlie Lake production year-over-year. Operating costs were reduced by 9%, and the company achieved significant improvements in heavy oil margins.
Looking ahead, Tamarack Valley Energy Ltd. plans to continue its strategic focus on shareholder returns, debt reduction, and operational efficiencies. The company remains committed to its 2025 guidance, which includes stable dividends, share buybacks, and ongoing capital investments to support production growth and financial stability.