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Tamarack Valley Deferring Capital in H1 2015, Shutting in Production
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Tamarack Valley Energy Ltd. has announced the results of its independent reserves evaluation as of December 31, 2014, which includes a 78% increase in proved plus probable (2P) reserves to 33.236 mmboe, a three year proved plus probable finding, development and acquisition cost average of $25.74/boe and a recycle ratio of 1.5 using 2014 netbacks of $38.92/boe.
The Company has also announced record average production of 7,681 boe/d for the fourth quarter of 2014, which was an increase of 33% from the previous quarter and 77% higher than the same period in 2013.
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