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