Drilling & Completions | Quarterly / Earnings Reports | Production | Third Quarter (3Q) Update
Tamarack's Output Jumps 24% YOY to 10,790 BOEPD; Touts Spur Deal
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Tamarack Valley Energy reported its Q3 2016 results.
Key Points: Production for the quarter averaged 10,790 boe/d (55% liquids), an increase of 13% over the previous quarter and a 24% increase over the third quarter of 2015. With two Redwater Viking oil wells, the Company's first horizontal oil well at Penny and one Cardium oil well at Wilson Creek all to come on production during the fourth quarter, the Company is well on its way to achieving its 2016 exit rate of approximately 11,000 boe/d. Signed acquisition deal of Viking / Cardium-focused Spur Resources Operational UpdateAverage production for the third quarter of 2016 increased by 13% to 10,790 boe/d from 9,536 boe/d in the second quarter of 2016. Third quarter volumes were positively impacted by a combined 2,046 boe/d…
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