- CEO
- Brian L. Schmidt
- Full Time Employees
- 251
- Sector
- Energy minerals
- Industry
- Integrated oil
- Address
- Eighth Avenue Place Calgary AB Canada T2P 1G1
- IPO Date
- Jun 13, 2002
- Business
- Tamarack Valley Energy Ltd. (TVE.TO) is a Calgary-based oil and gas exploration and production company focused on the Western Canadian Sedimentary Basin; it develops, produces, and sells crude oil, natural gas, and natural gas liquids from its core Clearwater heavy oil assets at Nipisi, Marten Hills, South Clearwater, and Figure Lake; Charlie Lake light oil assets at Valhalla, Wembley, and Pipestone; and a diversified portfolio of enhanced oil recovery projects across Alberta formations. Founded in 2002 and formerly known as Tango Energy Inc. until its name change in June 2010, the company operates primarily in northern Alberta with an inventory of low-risk drilling locations offering paybacks under 1.5 years and long-life reserves; it targets repeatable resource plays to generate free funds flow, emphasizing responsible operations, environmental stewardship, and shareholder returns through monthly dividends and share buybacks. Recent developments include the July 2025 acquisition of a private company for $51.5 million, adding 1,100 boe/d of Clearwater production and 114 net sections of mineral rights near core holdings for enhanced synergies; divestitures of non-core eastern Alberta and Cardium assets to streamline into a pure-play Clearwater and Charlie Lake producer; issuances of sustainability-linked notes totaling over $425 million, including $325 million five-year notes due 2030 and partial redemption of prior debt; a 2026 corporate budget with de-risked exploration in the Pelican area targeting Wabiskaw and Clearwater zones; and ongoing waterflood expansions driving record Clearwater production averaging 47,751 boe/d in Q3 2025, up 11% year-over-year, with corporate guidance of 67,000-69,000 boe/d.