Tamarack Valley rises on deal to sell remaining non-core assets for $81.21 million

Tamarack Valley Energy

18/09/2025 15:03

** Shares of Canada-based oil and natural gas company Tamarack Valley Energy TVE.TO up ~1% at C$6.16

** Co will sell its remaining non-core producing assets in Veteran Consort and Eyehill areas of eastern Alberta for C$112 million ($81.21 million) before closing adjustments to a private company, TVE says

** Deal reduces TVE's asset retirement obligations by C$63 million

** Through deal, TVE completes its transformation into pure-play Clearwater and Charlie Lake producer

** "In our minds the sale makes sense, with the proceeds set to be allocated to more attractive projects within the Clearwater, over time," RBC says

** Transaction is expected to close in October

** Including session's moves, stock up ~28% YTD

($1 = 1.3791 Canadian dollars)

 (Reporting by Dharna Bafna)

 ((Dharna.bafna@thomsonreuters.com))