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If you’re in a low commodity environment, owning your own infrastructure is a huge advantage: Schmidt

Tamarack Valley Energy’s President and CEO Brian Schmidt spoke to Oil & Gas 360®’s Angie Austin at the EnerCom conference in Denver last week. Schmidt talked about strategic acquisitions, managing through cycles, and business strategy in a depleted commodity price environment.

Tamarack Valley Energy (ticker: TVE) is an oil and gas company involved in the identification, evaluation and operation of resource plays in the Western Canadian sedimentary basin. The company uses a rigorous, proven modeling process to carefully manage risk and identify growth opportunities. Tamarack’s diversified suite of oil-focused assets provides exposure to the high impact Cardium light oil resource plays in Lochend, Garrington/Harmattan and Buck Lake in Alberta, low cost Viking light oil resource plays in Redwater, Foley Lake and Westlock in Alberta and highly economic heavy oil opportunities southeast of Lloydminster in Saskatchewan.

Interview Questions

  • Brian, in the second quarter, Tamarack Valley made two strategic acquisitions—the Redwater acquisition and the Penny acquisition. Can you tell us about those assets—what were the attractive metrics—and where do they fit in to your development plans?
  • Tamarack has some owned infrastructure – why is this important to the company and how does it affect your acquisition and field development strategy?
  • Brian, in your 2016/17 Strategy slide, you talk about managing to cycles. Can you explain how that works?
  • You have said that Tamarack’s strong balance sheet, robust inventory and free cash flow capabilities allow the company to ramp growth with WTI at $55 per barrel/U.S. What’s Tamarack Valley’s strategy if oil stays in a $30s-to-$50s range for the next two or three years?
  • You have a slide called “Building per share Growth while De-levering” – can you talk about how you’ve done that and how long can you continue at prices that are bouncing around in the $40s?

Tamarack Valley Energy’s Breakout Notes from the 2016 EnerCom conference are available here.

You can listen to Tamarack Valley Energy’s 2016 EnerCom presentation/webcast here.

For the company’s second quarter results, click here.

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