Tamarack Valley Energy Ltd (TSX:TVE)
C$ 4.39 0.04 (0.92%) Market Cap: 2.33 Bil Enterprise Value: 3.09 Bil PE Ratio: 11.56 PB Ratio: 1.07 GF Score: 77/100

Tamarack Valley Energy Ltd to Acquire Rolling Hills Energy Ltd. - M&A Call Transcript

Apr 21, 2022 / 03:00PM GMT
Release Date Price: C$5.12 (-0.19%)
Operator

Good morning. Welcome, everyone, to the Tamarack Valley Energy webcast on April 21, 2022, discussing this morning's press release. I would like to introduce today's speakers, Mr. Brian Schmidt, President, CEO; and Mr. Steve Buytels, Vice President, Finance, and CFO.

If you have any questions, please type them at the Q&A field provided. Mr. Schmidt, you may begin your conference.

Brian Schmidt
Tamarack Valley Energy Ltd. - President & CEO

Good morning. I'm joined here today with Steve Buytels, VP Finance and CFO. We're pleased to announce the acquisition of Rolling Hills Energy, a privately held Clearwater oil producer, for consideration of $93 million, along with a 20% increase to our base dividend and a return of capital update.

The acquisition consists of 2,100 barrels of oil per day in the southern Clearwater fairway, and 70 or 54 net future development locations along only one-third of the land base, providing significant further exploration potential upside.

In addition to the highly economic drilling inventory, the

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