HWX
TSX · Martensville / Clearwater · 3 desk pieces in archive
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The September 8 $10 billion all-stock Clearwater combination has not added a new release. Both boards still expect a joint information circular in October and special meetings in November. Closing is still the gate for Tamarack's planned 20 percent dividend lift.
On September 8 Tamarack Valley and Headwater announced an all-stock combination valued at $10 billion. Headwater shareholders get one Tamarack share each. Run-rate Clearwater production exceeds 80,000 boe per day. Non-core assets move into a new Tributary Exploration vehicle.
On July 23 Headwater said second-quarter volumes hit a record 24,567 boe/d, up 10 percent. Adjusted funds flow was $117.7 million. The dividend is $0.12, payable October 15. Current Marten Hills West talk is more than 18,000 boe/d with more than 8,500 barrels a day on secondary recovery. That is not year-end 16,000 barrels supported.