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TSX · Clearwater and Charlie Lake · 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 28 Tamarack said Charlie Lake closed June 15 for $803.8 million before adjustments. Second-quarter corporate volumes were 69,229 boe/d. Clearwater was 53,598 boe/d. Run-rate after the sale is more than 54,000 boe/d, 92 percent liquids. Net cash was $132.6 million. Annual guidance is now 61,500 to 63,000 boe/d.