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Varcoe: From small junior to 'big-boy' company: Tamarack acquiring Headwater in $3.2B deal

'It's pretty staggering to see Tamarack Valley, that were 5,000 barrels a day, go to 80,000 barrels a day'

Tamarack Valley Energy announced a $3.2-billion acquisition of Headwater Exploration on Tuesday — the biggest transaction in the company’s history — becoming the largest producer in the growing Clearwater formation in Alberta.

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Founding Tamarack CEO Brian Schmidt also announced his plans to step aside as chief executive on Jan. 1 and become executive chair of the board, while company president Steve Buytels will move into the CEO’s chair of the combined entity.

For Schmidt, growing the company from a small junior operator to soon having 80,000 barrels of oil (boe) equivalent per day — becoming one of the largest conventional........

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