24 Feb 2016
SPARTAN POSTS SOLID 2015 RESERVE PERFORMANCE, CONSERVATIVE 1H16E BUDGET
Impact: Positive. The Company's single digit F&D cost performance on both a 1P and 2P basis should rank amongst the best of its light oil peer group. Additionally the Company has outlined a conservative $18-20 mm budget for 1H16e which will see volumes remain flat at its 2015e average (8,866 boe/d) which looks well at hand particularly given corporate production so far in February has been ~ 9,300 boe/d.