Tamarack Valley Energy Ltd. (OTCPK:TNEYF) Q4 2024 Earnings Conference Call February 25, 2025 11:30 AM ET
Company Participants
Brian Schmidt – President & Chief Executive Officer
Steve Buytels – Chief Financial Officer
Conference Call Participants
Jeremy McCrea – BMO
Jamie Kubik – CIBC
Operator
Good morning. Welcome, everyone, to the Tamarack Valley Energy Limited Conference Call and Webcast on Tuesday, February 25, 2025, discussing the recent Q4 2024 results press release.
I would like to introduce today’s speakers Mr. Brian Schmidt, President and CEO; and Mr. Steve Buytels, Chief Financial Officer. [Operator Instructions]
Thank you. Mr. Schmidt, you may begin your conference.
Brian Schmidt
Good morning, and thank you to the moderator, and welcome, everyone, to the call to discuss our 2024 operating and financial results. My name is Brian Schmidt, CEO and I’m joined this morning by Steve Buytels, CFO.
This morning, we are pleased to release our 2024 year-end results, where the company achieved annual production of 64,331 BOE per day and delivered $851 million of adjusted funds flow, which was a record year for Tamarack. The rate of change is attractive to shareholders. The superior quality of these assets allows us to grow production while paying down debt while buying back shares while reducing sustaining capital in future years.
The compounding effect is profound and demonstrates consistent year-on-year improving debt adjusted free cash flow per share. Through the course of the year, we achieved multiple deliverables which I will flag as key takeaways, when assessing our 2024 accomplishments. And then I’ll turn it over to Steve for 2025.
The first, margin enhancements. This is reflected in our netbacks where we are seeing higher realized pricing for our oil and lower overall costs. This flows through to the bottom line and also drives up our top-tier recycle ratios in the context
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