On September 18, 2025, Tamarack Valley Energy Ltd. announced a definitive agreement to sell its remaining non-core producing assets in the Veteran Consort and Eyehill areas of Eastern Alberta for $112.0 million before closing adjustments. The transaction, which is expected to close in October 2025, includes the assumption of $63 million in undiscounted asset retirement obligations, with approximately half of these obligations classified as inactive. The assets involved in the sale currently produce about 4,000 barrels of oil equivalent per day, representing 6% of Tamarack’s total corporate production, and were projected to generate $45 million in field operating netbacks over the next year. Tamarack stated that this divestiture finalizes its transition to a Clearwater and Charlie Lake-focused portfolio. The company anticipates that the sale will result in a 10% improvement in net production expenses per barrel of oil equivalent and a 25% reduction in total asset retirement obligations. Tamarack’s production guidance for 2025 remains unchanged, with full-year output projected at 67,000 to 69,000 barrels of oil equivalent per day. Proceeds from the transaction are expected to be applied to net debt reduction, with a stated target of $500 million by 2027.

National Bank Financial Inc. acted as financial advisor, and Stikeman Elliott LLP served as legal counsel to Tamarack for this transaction.