Tamarack Valley Energy Ltd (TSE:TVE) has released an update.
Tamarack Valley Energy Ltd. reported a 15% year-over-year increase in Adjusted Funds Flow to $181.6 million in Q1 2024, alongside a 10% reduction in production expenses and a higher oil production weighting which rose to 86%. The company also bought back and cancelled 7.6 million shares, delivering total shareholder returns of $46.4 million for the quarter. Additionally, Tamarack has repaid its Deferred Acquisition Payment notes and term facility from a previous acquisition, while maintaining its 2024 capital expenditure guidance.
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