CA - Tamarack sees Deltastream assets adding 23K boe/day to production

Tamarack Valley Energy ( OTCPK:TNEYF ) said Thursday it closed its acquisition of privately-held oil producer Deltastream Energy for C$1.425B (US$1.03B), comprised of 80M common shares, C$825M in cash and C$300M in deferred acquisition payment notes.

Tamarack ( OTCPK:TNEYF ) said it expects the acquired assets will produce an average of 23K boe/day and deliver C$500M of EBITDA in 2023.

The company raised its base monthly dividend by 25% to $0.0125 beginning next month, which it says reflects an improvement in sustainable free funds flow.

The company also named Lynne Chrumka, a former executive at ARC Resources and Seven Generations Energy, as its new VP of exploration.

Tamarack Valley Energy's ( OTCPK:TNEYF ) Clearwater expansion enhances the attractiveness of the company as an acquisition candidate, Long Player writes in an analysis published on Seeking Alpha .

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