Impact: Neutral. Spartan's most recent acquisition continues to consolidate its land position at its key properties and build inventory in SE Saskatchewan at reasonable metrics. The Company's updated 2016e capital budget of $68 mm is cautiously below our prior view (FCC was $80 mm) and is expected to generate annual production of 10,700 boe/d (FCC was 11,000 boe/d) which will likely result in a minor reduction to our proforma production and cash flow outlook. Although we expect this acquisiti
03 Aug 2016
ANNOUNCES SE SASKATCHEWAN ACQUISITION & CONCURRENT $70 MM BOUGHT DEAL FINANCING, UPDATED 2016E GUIDANCE
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ANNOUNCES SE SASKATCHEWAN ACQUISITION & CONCURRENT $70 MM BOUGHT DEAL FINANCING, UPDATED 2016E GUIDANCE
- Published:
03 Aug 2016 -
Author:
Cody R. Kwong -
Pages:
3
Impact: Neutral. Spartan's most recent acquisition continues to consolidate its land position at its key properties and build inventory in SE Saskatchewan at reasonable metrics. The Company's updated 2016e capital budget of $68 mm is cautiously below our prior view (FCC was $80 mm) and is expected to generate annual production of 10,700 boe/d (FCC was 11,000 boe/d) which will likely result in a minor reduction to our proforma production and cash flow outlook. Although we expect this acquisiti