Tamarack Valley Energy completed the acquisition of Rolling Hills Energy for $46.5m.

Tamarack Valley Energy, an oil and gas exploration and production company committed to creating long-term value for its shareholders through sustainable free funds flow generation, financial stability and the return of capital, completed the acquisition Rolling Hills Energy, a privately held pure play Clearwater oil producer, for $46.5m. "Tamarack's announcements today are the result of our disciplined focus on sustainable free funds flow growth and accretive acquisitions. Through our strategic focus over the past two years, we have positioned the Company for long-term sustainable free funds flow growth and shareholder returns. The acquisition of Rolling Hills completes the consolidation of our core operating area in the Southern Clearwater, which will allow us to fully optimize development and maximize returns from this area. The Corporate Acquisition coupled with our second strategic Peavine Metis Settlement agreement and additional land sales in the Peavine area will expand our total Clearwater footprint to 593.2 net sections (379,650 net acres)," Brian Schmidt, Tamarack's President and CEO.