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Tamarack Valley Energy (TVE) investor relations material
Tamarack Valley Energy Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 delivered strong Clearwater production and cash flow, supported by drilling, waterflood expansion and elevated commodity prices.
Definitive all-stock Headwater merger agreement targets a combined Clearwater producer with >80,000 boe/d run-rate production; closing was expected shortly after the Nov. 18 shareholder vote, subject to approvals.
Financial highlights
Q3 adjusted funds flow was $214.0 million, or $0.45 per diluted share; free funds flow was $92.4 million, or $0.19 per diluted share.
Q3 oil and natural gas sales were $468.7 million, up 19% YoY; cash provided by operating activities was $247.7 million, up 10%.
Nine-month free funds flow was $375.3 million, up 17% YoY; adjusted funds flow was $690.9 million, up 11%.
Q3 net income was $98.8 million versus a $248.8 million net loss in Q3 2025; diluted EPS was $0.21 versus a loss of $0.50.
Outlook and guidance
2026 capital guidance was reaffirmed at $450–$470 million, including planned Headwater investment; spending was trending toward the high end as development accelerated.
Full-year corporate production guidance is 65,500–67,500 boe/d, including acquired Headwater production and first-half Charlie Lake volumes; standalone Clearwater guidance increased to 54,500–56,000 boe/d.
Standalone exit-2026 water injection guidance is 70,000 bbl/d; combined injection is expected to exceed 100,000 bbl/d, supporting 45% of production.
Preliminary combined plan targets 10%–12% annual production growth and >110 Mboe/d by 2030, with $600–$650 million annual capital for 2027–2030.
- Waterflood growth and long inventory underpin a Clearwater-focused, low-breakeven portfolio.TVE
EnerCom Denver – The Energy Investment Conference - CAD 10B merger forms the largest Clearwater producer, unlocking major synergies and new growth.TVE
M&A announcement - Record Q2 cash flows, Clearwater growth, net debt elimination, and a 25% dividend hike.TVE
Q2 2026 - Clearwater-focused strategy drives record free funds flow, low declines, and rising shareholder returns.TVE
Investor presentation - Clearwater-focused strategy drives high-margin growth, low costs, and strong shareholder returns.TVE
Investor presentation - Charlie Lake sale funds Clearwater growth, boosting returns and long-term value creation.TVE
Investor update - Clearwater-focused strategy accelerates growth, reserve expansion, and shareholder returns.TVE
Investor presentation - Five-year plan targets 100% free funds flow per share growth and 3–5% annual production growth.TVE
Investor Day 2024 - Record production, strong cash flow, and robust shareholder returns highlight 2024 results.TVE
Q4 2024
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Next Tamarack Valley Energy earnings date
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