Tamarack Valley Energy Ltd Reports Operating Results for the Fourth Quarter of 2017; Provides Production Guidance for the Year 2018
The company's 2018 guidance: annual average production between 22,500 to 23,500 boe/d (64% to 66% oil and liquids), with 2018 exit production estimated between 24,000 to 24,500 boe/d (65% to 67% oil and liquids). Capital expenditure range of $195 to $205 million, weighted approximately equally between the first and second halves. Estimated year end 2018 debt to fourth quarter annualized cash flow ratio of less than 1.0 times with an estimated $100 million of liquidity on the company's existing credit facilities.