Spartan Delta Corp (TSE:SDE) has released an update.
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Spartan Delta Corp has announced a significant Duvernay acquisition for $53.1 million, which adds approximately 38,000 net acres and 1,600 BOE/d of production to their portfolio, and has updated its 2024 guidance accordingly. Despite weather-related setbacks in January, Spartan reported a 2% increase in production in Q1 2024, reaching 38,533 BOE/d, with a 6% growth in liquid production from the previous quarter. The company has positioned itself as a major player in the Duvernay shale play, with plans to drill additional wells and potential for substantial shareholder returns.
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