Topic: How To Invest

Q: Hi, Pat. What do you think about Tamarack Valley Energy? Thanks for all your good advice over the years!

Article Excerpt

A: Tamarack Valley Energy Ltd., $4.60, symbol TVE on Toronto (Shares outstanding: 556.4 million; Market cap: $2.5 billion;, is an oil and gas exploration and production firm in Western Canada. The company focuses on Alberta and Saskatchewan, and its output is 76% oil and 24% gas. In the three months ended September 30, 2022, Tamarack’s average daily production rose 5.4%, to 43,476 barrels of oil equivalent per day from 41,256. The company’s cash flow in the latest quarter jumped 60.0%, to $0.40 a share from $0.25. The rise reflects much higher natural gas and oil prices as well as the increased output. Tamarack’s long-term debt stands at $287.4 million, or a low 11.5% of its current market cap of $2.5 billion. The company continues to grow through acquisitions. Most recently, on October 13, 2022, it completed the purchase of Deltastream Energy for $1.425 billion. Deltastream, a privately held oil producer, operates exclusively in Alberta’s Clearwater oil area. The acquisition should be a good fit…