Brief: Tamarack Valley Energy Announces 25% Monthly Dividend Increase

Tamarack Valley Energy

12/09/2022 12:19

Sept 12 (Reuters) - Tamarack Valley Energy Ltd  TVE.TO :
    * . SOLIDIFIES POSITION AS THE LARGEST CLEARWATER PRODUCER
WITH
THE ACQUISITION OF DELTASTREAM ENERGY CORPORATION AND ANNOUNCES
25% MONTHLY DIVIDEND INCREASE
    * ENTERED INTO AN AGREEMENT TO ACQUIRE DELTASTREAM ENERGY
CORPORATION FOR TOTAL NET CONSIDERATION OF $1.43 BILLION
    * TAMARACK'S BOARD OF DIRECTORS HAS APPROVED A 25% INCREASE
TO
MONTHLY DIVIDEND TO $0.0125 PER SHARE
    * TAMARACK VALLEY ENERGY - ACQUISITION IS EXPECTED TO BE
FUNDED
PARTLY THROUGH STRUCTURALLY TRANSFORMED EXPANSION OF REVOLVING
CREDIT FACILITY
    * EXPECTS PRELIMINARY 2023 AVERAGE PRODUCTION FOR TAMARACK
68000
BOE/D - 72000 BOE/D
    * ACQUISITION IS EXPECTED TO CLOSE PRIOR TO END OF OCTOBER
    * TAMARACK- DEALTO BE FUNDED FROM REVOLVING $650 MILLION
RESERVE-BASED CREDIT FACILITY TO UNDERWRITTEN $700 MILLION,
THREE YEAR SENIOR SECURED COVENANT- BASED

Source text for Eikon:  ID:nCNWk2bHVa 
Further company coverage:  TVE.TO 

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