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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.)

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