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Spartan Accelerates Drilling in Q3 with 26 Wells; 550% Increase from Q2
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Spartan Energy has reported its Q3 2016 results. The company accelerated its drilling program after restarting it in Q2.
During Q3, 26 wells were drilled (compared to four in Q2 - a 550% increase).
Highlights: Achieved record average production of 12,429 boe/d (91% oil and liquids), representing a 55% percent increase over the third quarter of 2015 and a 37% increase over the second quarter of 2016. Spartan exceeded our year-end production target of 12,500 boe/d prior to the end of the third quarter. Completed the acquisition of light oil assets in southeast Saskatchewan producing approximately 450 boe/d for a cash purchase price of approximately $24 million. To date in 2016, Spartan has completed four consolidating acquisitions in our core southeast Saskatchewan operating area…- ✓ Full news archive — U.S., Canada & international coverage
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