Corrected: Canada's Tamarack Valley Energy Q3 revenue rises on higher commodity prices and production

Tamarack Valley Energy

28/10/2026 09:12

Corrects currency in third bullet of Outlook section to C$ from $, metric in 2nd bullet of Overview and in Key Details table to "adjusted funds flow per share" from "adjusted EPS"

Overview
Canada oil producer's Q3 revenue rose 19% yr/yr on higher commodity prices and production
Q3 adjusted funds flow per share rose to C$0.45 from C$0.40 a year earlier
Company plans 20% dividend increase, contingent on Headwater merger closing

Outlook
Company raises 2026 average production guidance to 65,500-67,500 boe/d from 61,500-63,000
Company increases 2026 capital investment guidance to C$450-C$470 mln from C$430-C$450 mln
Company plans 20% dividend increase to C$0.06/share quarterly, contingent on Headwater deal closing

Result Drivers
WATERFLOOD EXPANSION - Co said increased Clearwater production was driven by ongoing drilling and strong reservoir response from waterflood expansions
CAPITAL ACCELERATION - Co accelerated development spending in response to higher commodity prices
HIGHER PRICES - Co benefited from elevated oil and gas prices

Company press release: ID:nCNW9G3tya

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Oil & Nat Gas Revenue
 
C$468.69 mln
 
Q3 Adjusted Funds Flow per Share
 
C$0.45
 
Q3 Net Income
 
C$98.84 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Tamarack Valley Energy Ltd. is C$17.00, about 15.7% above its October 27 closing price of C$14.69
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads
Oct 26 - Ovintiv to buy Logan Energy for $890 million, expanding Montney oil position
Oct 26 - Canada's PrairieSky Royalty Q3 funds from operations up 42%
Oct 27 - Canada's Trican Well Service Q3 profit rises on higher activity, Iron Horse contribution

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)