BRIEF-Tamarack Valley Energy Ltd posts qtrly earnings $0.05/shr

Thu Mar 24, 2016 7:08am EDT
 
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March 24 (Reuters) - Tamarack Valley Energy Ltd

* Tamarack valley energy ltd. Announces 2015 financial and operating results with record production achieved in fourth quarter 2015

* Tamarack valley energy ltd qtrly FFO per share $0.18

* Tamarack Valley Energy Ltd qtrly earnings per share $0.05

* Q4 2015 production average of 9,968 boe/d (61 pct liquids), which is an increase of 14 pct from q3 of 2015

* Re-affirms its 2016 production guidance of averaging between 8,700-9,700 boe/d

* Currently expects production in first half of 2016 to average between 9,100-9,600 boe/d

* Full impact of operating cost reduction project is expected to be realized in q2 of 2016

* In 2016, intends to continue improving capital efficiencies,increasing netbacks through additional drilling, cost cutting initiatives Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)