CA - Tamarack Valley Energy plans ~C$450M 2023 capital budget

Tamarack Valley Energy ( OTCPK:TNEYF ) said Wednesday it plans a FY 2023 capital budget of C$425-C$475M , funded entirely through adjusted funds flow, driving production of 68K-72K boe/day weighted 82% to oil and natural gas liquids.

The budget achieves a free funds flow breakeven of ~US$37/bbl WTI, including the base dividend, the company said.

Tamarack Valley ( OTCPK:TNEYF ) said it will devote C$125M-C$140M in development capital to its Clearwater assets with plans to drill 69 wells, and C$90M-C$105M ro Charlie Lake with plans to drill 19 wells.

The company said it has signed on as an anchor tenant in a new Nipisi oil terminal project with a third-party infrastructure partner, and it has completed the Wembley gas plant design phase at Charlie Lake, with construction scheduled to begin in early 2023.

Tamarack Valley Energy ( OTCPK:TNEYF ) is now of a size to attract important institutional backing, Long Player writes in an analysis published on Seeking Alpha.

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