The East assets currently produce about 4,000 boe/d (3,500 b/d of oil), or 6% of Tamarack's corporate production. Tamarak said there is no change to the company’s 2025 full year production guidance, primarily due to ‘outperformance’ from the first-half 2025 development programs, Clearwater waterflood response, and a tuck-in acquisition of additional Clearwater assets early in this year’s third quarter.
That $51.5 million-(Can.) acquisition of a private company added 1,100 b/d of Clearwater heavy oil production through the balance of 2025, and over 114 net sections of Clearwater lands, the company noted in its second-quarter 2025 earnings report. With the deal, Tamarack now holds a 100% working interest ownership and operatorship
across its Nipisi position and holds upside with step-out and exploration opportunities at West Nipisi.
Full-year production outlook remains at 67,000-69,000 boe/d with fourth-quarter production expected to be 66,500-67,500 boe/d.
The company said the East Asset deal will reduce its asset retirement obligations by $63 million, reflecting 25% of the company's total corporate liability and includes about 40% of Tamarack's total inactive decommissioning obligations.
The deal is expected to close in October 2025, subject to customary closing considerations.
