Tamarack Valley to acquire Deltastream

Tamarack Valley Energy Ltd. has entered into a definitive agreement to acquire Deltastream Energy Corporation, a privately held pure-play Clearwater oil producer, for total net consideration of $1.425 billion.

“The acquisition of Deltastream solidifies Tamarack as the largest producer in the Clearwater oil fairway,” said Brian Schmidt, president and CEO of Tamarack.

“This transaction builds on the company’s core position in the Clearwater, which is recognized as North America’s most economic play. Deltastream brings scale and a leading economic development drilling inventory, comprised of high quality, long life assets with low sustaining capital requirements that enhance capital allocation flexibility.”

He added: “This strategic transaction delivers significant accretion to our existing business model and drives increased long-term value creation for our shareholders.”

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