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Released November 04, 2025 | SUGAR LAND
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Written by Will Ploch, Assistant Editor-in-Chief for Industrial Info Resources (Sugar Land, Texas)
Amid a soggy environment for crude oil prices, Tamarack is selling off some of its non-core assets and expanding production in some of its top-performing oil and gas fields in Alberta.
On October 15, Tamarack closed a purchase and sale agreement with an unidentified private company to sell substantially all its non-core assets in the Veteran Consort and Eyehill areas of Eastern Alberta for C$112 million (US$79.7 million), before closing adjustments. Tamarack said the sale will reduce its asset retirement obligations by C$62.5 million (US$44.5 million) and net production expense per barrel of oil equivalent (BOE) by about 10%.
The sale allows Tamarack to focus its efforts entirely on the Clearwater and Charlie Lake areas of Alberta, which hold its most prosperous assets. In these areas, which are part of the larger Peace River Basin, the company is preparing for at least two major drilling programs and field-expansion projects at its Wilson Creek Plant near Bluffton, and its Sun Creek Plant near Buck Lake. The company plans to drill at least 17 and 45 new wells, respectively, at the two properties throughout 2026.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project and Plant databases can learn more about these developments--including capacities, investment values and necessary equipment--from detailed reports on the Wilson Creek and Sun Creek projects, as well as detailed profiles of the Wilson Creek and Sun Creek plants.
The company holds more than 134.5 million and 70.8 million BOE of total gross proved plus probable reserves in the Clearwater and Charlie Lake areas, respectively, where it produced more than 47,000 and 13,000 BOE/d of heavy oil and natural gas during the third quarter. Tamarack's Charlie Lake assets also include the Wembley Sweet Natural Gas Processing Plant in Grande Prairie, Alberta; subscribers can learn more from a detailed plant profile.
Tamarack does not expect the sale of its Veteran Consort and Eyehill assets will change its 2025 full-year production guidance of 67,000 to 69,000 BOE/d, with fourth quarter production expected to be 66,500 to 67,500 BOE/d. The company plans to release its 2026 budget before the end of 2025.
By the Numbers
Subscribers can learn more from detailed reports on the Marten Hills and Taurus projects, as well as detailed profiles of the Slave Lake and Taurus plants.
Tamarack reported a C$248.77 million (US$177 million) net loss in the third quarter of 2025, compared with a C$93.69 million (US$66.65 million) net gain in the same period last year, which the company attributed to the asset write-down and weakening oil prices. The latter put revenues from oil and gas sales at C$394.09 million (US$280.34 million), a 10.32% drop from third-quarter 2024.
"During the three and nine months ended September 30, 2025, the WTI [West Texas Intermediate] benchmark decreased by 14% compared to the same periods in 2024," Tamarack said in a quarterly earnings-related press release. "WTI benchmark price volatility throughout the first nine months of 2025 was primarily driven by the ongoing threat of changes to U.S. foreign trading policies, softening global demand, global conflicts and growth in global oil supply from OPEC+ and non-OPEC+ producing nations."
Nonetheless, executives at Tamarack retained an optimistic outlook: "With low breakeven economics on the company's core plays and a disciplined hedging program, Tamarack is well positioned to withstand a lower commodity price environment in the near term."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and proposed projects from Tamarack.
Key Takeaways
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Summary
Amid a soggy environment for crude oil prices, Tamarack is selling off some of its non-core assets and expanding production in some of its top-performing oil and gas fields in Alberta.
Focus Shifts to Core Assets
Crude oil prices are in the doldrums, and Tamarack Valley Energy Limited (Calgary, Alberta) is not expecting the trend to reverse itself anytime soon. The Alberta-focused producer recently sold off underperforming properties and aims to better develop others. Industrial Info is tracking nearly US$1 billion worth of active and proposed projects from Tamarack, more than half of which is attributed to drilling programs and field-expansion projects set to kick off in 2026.On October 15, Tamarack closed a purchase and sale agreement with an unidentified private company to sell substantially all its non-core assets in the Veteran Consort and Eyehill areas of Eastern Alberta for C$112 million (US$79.7 million), before closing adjustments. Tamarack said the sale will reduce its asset retirement obligations by C$62.5 million (US$44.5 million) and net production expense per barrel of oil equivalent (BOE) by about 10%.
The sale allows Tamarack to focus its efforts entirely on the Clearwater and Charlie Lake areas of Alberta, which hold its most prosperous assets. In these areas, which are part of the larger Peace River Basin, the company is preparing for at least two major drilling programs and field-expansion projects at its Wilson Creek Plant near Bluffton, and its Sun Creek Plant near Buck Lake. The company plans to drill at least 17 and 45 new wells, respectively, at the two properties throughout 2026.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project and Plant databases can learn more about these developments--including capacities, investment values and necessary equipment--from detailed reports on the Wilson Creek and Sun Creek projects, as well as detailed profiles of the Wilson Creek and Sun Creek plants.
The company holds more than 134.5 million and 70.8 million BOE of total gross proved plus probable reserves in the Clearwater and Charlie Lake areas, respectively, where it produced more than 47,000 and 13,000 BOE/d of heavy oil and natural gas during the third quarter. Tamarack's Charlie Lake assets also include the Wembley Sweet Natural Gas Processing Plant in Grande Prairie, Alberta; subscribers can learn more from a detailed plant profile.
Tamarack does not expect the sale of its Veteran Consort and Eyehill assets will change its 2025 full-year production guidance of 67,000 to 69,000 BOE/d, with fourth quarter production expected to be 66,500 to 67,500 BOE/d. The company plans to release its 2026 budget before the end of 2025.
By the Numbers
- Tamarack plans to drill at least 17 and 45 new wells at its Wilson Creek and Sun Creek assets, respectively in 2026
- The company holds more than 205 million BOE of total proved probable reserves between its Clearwater and Charlie Lake assets
- Tamarack expects its 2025 full-year production to average as much as 69,000 BOE/d
Softer Oil Prices Mean Softer Bottom Line
Tamarack's other drilling programs and field-expansion projects set to kick off in 2026 include its assets in the Marten Hills oil reservoir of eastern Alberta, where the company aims to add at least 16 new wells to supply its crude oil-processing battery near Slave Lake, Alberta. It also plans to add up to 12 new wells at its Taurus development near Consort, Alberta, where it hopes to grow its production of heavy crude oil, natural gas and natural gas liquid (NGL).Subscribers can learn more from detailed reports on the Marten Hills and Taurus projects, as well as detailed profiles of the Slave Lake and Taurus plants.
Tamarack reported a C$248.77 million (US$177 million) net loss in the third quarter of 2025, compared with a C$93.69 million (US$66.65 million) net gain in the same period last year, which the company attributed to the asset write-down and weakening oil prices. The latter put revenues from oil and gas sales at C$394.09 million (US$280.34 million), a 10.32% drop from third-quarter 2024.
"During the three and nine months ended September 30, 2025, the WTI [West Texas Intermediate] benchmark decreased by 14% compared to the same periods in 2024," Tamarack said in a quarterly earnings-related press release. "WTI benchmark price volatility throughout the first nine months of 2025 was primarily driven by the ongoing threat of changes to U.S. foreign trading policies, softening global demand, global conflicts and growth in global oil supply from OPEC+ and non-OPEC+ producing nations."
Nonetheless, executives at Tamarack retained an optimistic outlook: "With low breakeven economics on the company's core plays and a disciplined hedging program, Tamarack is well positioned to withstand a lower commodity price environment in the near term."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and proposed projects from Tamarack.
Key Takeaways
- Tamarack is turning its focus to the Clearwater and Charlie Lake areas of Alberta.
- Weakening oil prices and the effects of the asset sale led the company to a steep net loss for the third quarter.
- Executives at Tamarack remain optimistic about the company's near-term performance.
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
