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Tamarack Valley Testing New Design in 2Q; Reduces Cost per BOE
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Tamarack Valley Energy Ltd. reported its operating and financial results for the first quarter of 2016. Production in the quarter averaged 9,582 boe/d (55% liquids), an increase of 18% over the first quarter of 2015.
Key Points: Tamarack is re-affirming its 2016 annual average production guidance of between 8,700-9,700 boe/d (approximately 51-57% liquids) At the Company's Alder Flats / Wilson Creek areas of Alberta, Tamarack drilled three (2.5 net) Cardium horizontal oil wells which were brought on production between mid-February and mid-March and one (0.8 net) Mannville gas well which came on-stream in mid-March. In addition, the Company finished drilling, completing and tying-in two (1.7 net) horizontal Cardium wells that had been spudded in the previous quarter, but not yet…- ✓ Full news archive — U.S., Canada & international coverage
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