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Tamarack Valley Energy Ltd. Announces Completion of Credit Facility Redetermination
Tamarack Valley Energy Ltd. Announces Completion of Credit Facility Redetermination ...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n \n \n \n Tamarack Valley Energy Ltd. Announces Completion of Credit Facility Redetermination\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n CALGARY, AB, Nov. 30, 2020\n \n \n \n \n \n TSX: TVE\n \n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 30, 2020\n \n /CNW/ - Tamarack Valley Energy Ltd. (\"Tamarack\" or the \"Company\") is pleased to announce that our bank syndicated credit facility has been redetermined and remains at\n \n $275 million\n \n . As at\n \n November 30\n \n \n th\n \n , 2020, the Company has drawn approximately\n \n $189 million\n \n and has ample liquidity for the remainder of 2020 and 2021. Tamarack has forecasted free adjusted funds flow\n \n 1\n \n for both 2020 and 2021 with forecasted year-end net debt to trailing adjusted funds flow ratio\n \n 1\n \n of less than 1.5x in both years.\n \n \n \n \n \n \n \n \n \n \n About Tamarack Valley Energy Ltd.\n \n \n \n Tamarack is an oil and gas exploration and production company committed to long-term growth and the identification, evaluation and operation of resource plays in the Western Canadian Sedimentary Basin. Tamarack's strategic direction is focused on two key principles: (i) targeting repeatable and relatively predictable plays that provide long-life reserves; and (ii) using a rigorous, proven modeling process to carefully manage risk and identify opportunities. The Company has an extensive inventory of low-risk, oil development drilling locations focused primarily in the Cardium and Viking fairways in\n \n Alberta\n \n that are economic over a range of oil and natural gas prices. With this type of portfolio and an experienced and committed management team, Tamarack intends to continue delivering on its strategy to maximize shareholder returns while managing its balance sheet.\n \n \n \n Forward Looking Information\n \n \n \n This press release contains certain forward-looking information (collectively referred to herein as \"forward-looking statements\") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not ...