Tamarack Valley Energy Ltd. (TVE) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome everyone to the Tamarac Valley Energy Limited conference call and webcast on Tuesday, February 25th, 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 Beitels, Chief Financial Officer. If you would like to ask a question, please press start, then the number one on your telephone keypad to join the queue. If you would like to withdraw your question, please press star two. Thank you. Mr. Schmidt, you may begin your conference. 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 Stephen Bytel, CFO. This morning, we are pleased to release our 2024 year end results. where the company achieved annual production of 64,331 VOE per day and delivered 851 million of adjusted fund flow, which was a record year for Tamarac. 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're seeing higher realized pricing for our oil and lower overall costs. This flows through the bottom line and also drives up our top tier recycle ratios in the context of our reserve additions. Second...