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Spartan Delta Talks Hedges, Production Following Bellatrix Asset Deal

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   |    Thursday,July 09,2020

Spartan Delta Corp. has detailed its recent operational and corporate activities since the closing of its June 2020 acquisition, in which it acquired assets from Bellatrix Exploration.

Ups Production at New Asset

Spartan’s current production is estimated at approximately 26,000 boe/d, primarily from the Ferrier and Willesden Green areas, compared to approximately 25,000 boe/d (30% oil and natural gas liquids) upon closing of the deal.

Hedges

Spartan has hedged approximately 60% of its natural gas volumes for the latter half of 2020 and approximately 45% of forecast natural gas volumes for 2021.

Spartan’s complete natural gas hedging positions as of July 6, 2020 are outlined below:

Period

Price (C$/GJ)

Volume (GJ/d)

Reference

Apr 1, 2020 to Oct 31, 2020

$1.54

750

AECO

Jul 1, 2020 to Mar 31, 2021

$2.23

60,000

AECO

Apr 1, 2021 to Oct 21, 2021

$2.02

5,000

AECO

Apr 1, 2021 to Mar 31, 2022

$2.25

35,000

AECO


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