Canada's Tamarack Valley Energy Q3 revenue rises on higher commodity prices and production

By Reuters News


Overview

  • Canada oil producer's Q3 revenue rose 19% yr/yr on higher commodity prices and production

  • Q3 adjusted EPS rose to C$0.45 from C$0.40 a year earlier

  • Company plans 20% dividend increase, contingent on Headwater merger closing


Outlook

  • Company raises 2026 average production guidance to 65,500-67,500 boe/d from 61,500-63,000

  • Company increases 2026 capital investment guidance to C$450-C$470 mln from C$430-C$450 mln

  • Company plans 20% dividend increase to $0.06/share quarterly, contingent on Headwater deal closing


Result Drivers

  • WATERFLOOD EXPANSION - Co said increased Clearwater production was driven by ongoing drilling and strong reservoir response from waterflood expansions

  • CAPITAL ACCELERATION - Co accelerated development spending in response to higher commodity prices

  • HIGHER PRICES - Co benefited from elevated oil and gas prices


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Oil & Nat Gas Revenue

C$468.69 mln

Q3 Adjusted EPS

C$0.45

Q3 Net Income

C$98.84 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Tamarack Valley Energy Ltd. is C$17.00, about 15.7% above its October 27 closing price of C$14.69

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Oct 26 - Ovintiv to buy Logan Energy for $890 million, expanding Montney oil position

  • Oct 26 - Canada's PrairieSky Royalty Q3 funds from operations up 42%

  • Oct 27 - Canada's Trican Well Service Q3 profit rises on higher activity, Iron Horse contribution


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk