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Spartan Energy Corp (SPE.TO)

SPE.TO on Toronto Stock Exchange

6.76CAD
23 May 2018
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$-0.07 (-1.02%)
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Latest Key Developments (Source: Significant Developments)

Spartan Energy Announces Strategic Business Combination With Vermilion Energy
Monday, 16 Apr 2018 

April 16 (Reuters) - Spartan Energy Corp ::SPARTAN ENERGY CORP. ANNOUNCES STRATEGIC BUSINESS COMBINATION WITH VERMILION ENERGY INC..SPARTAN ENERGY - ARRANGEMENT IMPLIES A VALUE OF ABOUT $1.4 BILLION FOR SPARTAN AFTER ASSUMPTION OF SPARTAN'S NET DEBT AND PAYMENT OF TRANSACTION COSTS.SPARTAN ENERGY - UNDER TERMS OF ARRANGEMENT AGREEMENT, EACH SPARTAN SHARE SHALL BE EXCHANGED FOR 0.1476 COMMON SHARES OF VERMILION.SPARTAN ENERGY - SPARTAN SHAREHOLDERS WILL RECEIVE AN ANNUALIZED DIVIDEND OF $0.41 PER SHARE BASED ON SHARE EXCHANGE RATIO ($2.76 PER VERMILION SHARE).SPARTAN ENERGY CORP - PRO FORMA ARRANGEMENT, VERMILION IS EXPECTED TO HAVE AN ALL-IN PAYOUT RATIO OF <90% AND A DECLINE RATE OF <19% IN 2018.SPARTAN ENERGY CORP - SHARE EXCHANGE RATIO IMPLIES A VALUE OF $6.50 PER SPARTAN SHARE BASED ON CLOSING PRICE OF VERMILION SHARES OF $44.04 ON APRIL 13.SPARTAN ENERGY - PURSUANT TO ARRANGEMENT AGREEMENT, A NON-COMPLETION FEE OF $40 MILLION WILL BE PAYABLE BY SPARTAN IN SOME CIRCUMSTANCES.SPARTAN ENERGY - ARRANGEMENT AGREEMENT ALSO PROVIDES THAT A NON-COMPLETION FEE OF $40 MILLION WILL BE PAYABLE BY VERMILION IN SOME CIRCUMSTANCES.  Full Article

Spartan Energy Corp Announces 2018 Corporate Budget and Guidance
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - Spartan Energy Corp ::ANNOUNCES 2018 CORPORATE BUDGET AND GUIDANCE.FOR 2018, SPARTAN'S BOARD OF DIRECTORS HAS APPROVED A TOTAL DEVELOPMENT CAPITAL BUDGET OF $183 MILLION.EXPECT TO GENERATE FUNDS FLOW FROM OPERATIONS OF APPROXIMATELY $267 MILLION IN 2018.SEES 2018 AVERAGE PRODUCTION 23,400 BOE/D.- SEES 2018 BASIC FFO PER SHARE $1.51.  Full Article

Spartan Energy Corp reports qtrly loss per share of $0.05‍​
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Spartan Energy Corp ::Announces third quarter financial and operating results.Qtrly average production of 22,630 boe/d (91 percent oil and liquids), an 82 percent increase (14 percent per share) over Q3 of 2016​.Qtrly ‍average production of 22,630 boe/d, representing an 82 percent increase​.Qtrly ‍adjusted funds flow from operations $0.22 per diluted share​.Qtrly loss per share $0.05‍​.  Full Article

Spartan Energy raises 2017 production guidance to 22,000 boe/d from 21,600 boe/d ​
Thursday, 12 Oct 2017 

Oct 11 (Reuters) - Spartan Energy Corp :Spartan Energy Corp Announces third quarter operations update and revised 2017 capital and production guidance.Spartan Energy Corp - ‍reducing 2017 drilling and maintenance capital from $145 million to $140 million​.Spartan Energy Corp - ‍revising annual production guidance upward from 21,600 boe/d to 22,000 boe/d​.Spartan Energy - ‍ anticipates co will generate total excess cash flow of $40 to $45 million in 2017, representing payout ratio of about 76 to 78 percent​.Spartan Energy - ‍sees average annual production per share growth 16% in 2017 over 2016 while spending about 76% - 78% of forecasted 2017 cash flow​.Spartan Energy Corp - ‍intend to invest an additional $8 million in waterflood projects in Q4​.  Full Article

Spartan Energy qtrly loss per share $0.02
Thursday, 11 Aug 2016 

Spartan Energy Corp : Qtrly average production of 9,080 BOE/D, comprised of 94% oil and liquids, a 4 % increase over Q2 of 2015 . Qtrly funds flow from operations per share was $0.05 . Unable to provide forward looking guidance other than what has previously been disclosed .Qtrly loss per share $0.02.  Full Article

Spartan Energy says announces southeast Saskatchewan light oil acquisition
Thursday, 4 Aug 2016 

Spartan Energy Corp Sees 2016 Year : Agreement on a "bought-deal" basis with underwriters for an offering of 22,100,000 shares at a price of $3.18 per share . Board approved 2016 capital budget of $68 million, expected to be about cash flow neutral . Anticipate spending level will yield average production of about 10,700 boe/d and exit production of about 12,500 boe/d for 2016 . Spartan energy corp. Announces southeast saskatchewan light oil acquisition, $70 million bought deal equity financing and updated 2016 capital budget . Sees 2016 annual production 10,700 boe/d .End net debt $58 million.  Full Article

Spartan Energy announces two consolidating Southeast Saskatchewan Light Oil acquisitions
Wednesday, 29 Jun 2016 

Spartan Energy Corp : Spartan Energy Corp. announces two consolidating Southeast Saskatchewan light oil acquisitions and bank line redetermination . Says two separate transactions for a total aggregate purchase price of $71.7 million . Acquisition will be funded through indebtedness drawn on Spartan's existing credit facilities . Syndicate of lenders underwriting company's credit facilities have determined to renew Spartan's credit facilities at $150 million . Corning-Manor acquisition is accretive on key measures, including 9% on forecasted 12 month cash flow, 25% on proved producing reserves .Next borrowing base redetermination is scheduled for October 31, 2016.  Full Article

BRIEF-Spartan Energy Qtrly Loss Per Share $0.76

* SPARTAN ENERGY CORP. ANNOUNCES FIRST QUARTER FINANCIAL AND OPERATING RESULTS