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Tamarack Valley Energy Approves 2015 Budget
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Tamarack Valley Energy Ltd. has announced its Board of Directors has approved the 2015 capital expenditure budget.
Tamarack has always been a rate of return driven company focused on drilling wells that target a return on capital cost payout of 1.5 years or less. With the current commodity price environment and current cost of services, the number of investment opportunities able to deliver these types of economic returns has been drastically reduced. Although Tamarack believes it has some of the most economic drilling prospects in the basin, management has prudently elected to significantly reduce its drilling program compared to 2014 in order to preserve capital, prospect returns and ensure an expedited return on future capital deployed. The Company plans to limit its 2015 capital…
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