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Tamarack Valley IDs 2019 Budget; Lowers Spending Slightly YOY
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Tamarack Valley Energy Ltd. reported its 2019 capital budget and guidance.
The company will be spending approximately $7.0 million less than the budgeted capital for the quarter due to the volatility of commodity prices in Western Canada. 2019 Guidance- 2019 Capex: $170-180 million
- Production Guidance: 23,500-24,500 BOEPD annual average / 25,500-26,500 BOEPD exit guidance
- Well Plans: The 2019 budget anticipates drilling 125 net wells, including:
110 Viking light oil wells (94 at Veteran) 13 Cardium light oil wells and two wells at Penny In addition, the 2019 budget includes $19.8 million of waterflood investments, including 15 well conversions in H1/19 and the drilling and conversion of six additional injection wells in East Veteran.**Average 2019 commodity price assumption…
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