Last C$4.04 CAD
Change Today -0.03 / -0.74%
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As of 4:00 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

spartan energy corp (SPE) Snapshot

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07/9/14 - C$4.99
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spartan energy corp (SPE) Details

Spartan Energy Corp. explores, develops, and produces oil and natural gas properties in Alberta, Canada. Its principal properties are located in Alberta and Saskatchewan. The company was formerly known as Alexander Energy Ltd. and changed its name to Spartan Energy Corp. in February 2014. Spartan Energy Corp. is headquartered in Calgary, Canada.

spartan energy corp (SPE) Top Compensated Officers

Chief Executive Officer, President and Direct...
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Chief Financial Officer and Vice President of...
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

spartan energy corp (SPE) Key Developments

Spartan Provides Capital Budget and Production Guidance for 2014

Spartan provided capital budget guidance for 2014. Lightstream Resources Ltd. said it has agreed to sell a portion of its conventional assets in southeast Saskatchewan for $98 million. Following closing of the acquisition, Spartan expects to increase its 2014 capital budget to $84 million from $74 million. Post acquisition, Spartans 2014 production is forecast to average 5,700 boe a day, up from 5,200 boe a day, with exit guidance rising to 8,600 boe a day from 7,500 boe a day.

Spartan Energy Corp. Reports Earnings and Operating Results for the First Quarter Ended March 31, 2014; Provides Production Guidance for the Full Year 2014

Spartan Energy Corp. reported earnings and operating results for the first quarter ended March 31, 2014. For the period, the company reported petroleum and natural gas sales were $5,853,000 against $3,647,000 a year ago. Net earnings were $15,000,000 or $0.12 diluted earnings per share against $22,000 a year ago. Funds flow from operations were $3,095,000 or $0.03 basic and diluted per share against $1,802,000 or $0.11 diluted per share a year ago. Capital expenditures were $36,506,000 against $1,497,000 a year ago. As on date, net debt was $107,431,000 against $12,042,000 a year ago. For the period, the company reported average daily production of natural gas was 1,120 mcf/d against 2,688 mcf/d a year ago. Average daily production of crude oil was 649 bbls/d against 452 bbls/d a year ago. Operating netback was 46.34 $/boe against 27.67 $/boe a year ago. Corporate netback was 40.47 $/boe against 22.26 $/boe a year ago. During 2014, the company expects to spend a total of $66 million to drill 58 (53 net) wells. The focus of Spartan's remaining 2014 capital program will be on the Company's Mississippian assets in southeast Saskatchewan and, to a lesser extent, on the Company's Viking prospects in the Dodsland area of west central Saskatchewan. Spartan expects to drill up to 44 (40 net) horizontal wells in southeast Saskatchewan, including 35 wells targeting the Frobisher/Alida and 9 wells targeting the Midale. Spartan also anticipates spending an additional $8 million on land, seismic and facility expenditures. Production volumes have exceeded budgeted expectations on the strength of a successful first quarter development drilling program. Buoyed by these results, Spartan is revising upward the Company's 2014 exit rate to 7,500 boe/d (94% oil and liquids) (previously 7,300 boe/d) and its 2014 average production rate to 5,200 boe/d (previously 5,100 boe/d).

Spartan Energy Corp., Annual General Meeting, Jun 20, 2014

Spartan Energy Corp., Annual General Meeting, Jun 20, 2014., at 14:00 US Mountain Standard Time. Location: Shrum Liddle Hebenton Boardroom of McCarthy Tétrault LLP. Agenda: To receive the financial statements for the fiscal year ended December 31, 2013 and the report of the auditors thereon; to fix the number of directors to be elected at six; to elect directors for the ensuing year; to appoint the auditors of the company to hold office until the next annual meeting of the shareholders and authorize the directors to fix their remuneration; and to transact such other business as may properly come before the meeting or any adjournments thereof.


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