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Spartan's IP30s Outperform Type Curve by 52%; On Hunt for Deals
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Spartan Energy Corp. reported its financial and operating results for the three months ended March 31, 2016.
Key Points: Our open-hole drilling program significantly outperformed internal expectations, delivering average IP30 rates of 164 bbls/d, approximately 52% above type curve. Drilled 15 (12.1 net) wells and completed and brought on production an additional 7 (5.9 net) wells in the quarter, with a 100% success rate. Spartan believes the prolonged commodity price slump will lead to quality acquisition opportunities during the remainder of 2016. Spartan's highlights for the first quarter include: Averaged production of 9,683 boe/d, comprised of 94% oil and liquids, a 4% increase over the previous quarter. Drilled 15 (12.1 net) wells and completed and brought on production an…- ✓ Full news archive — U.S., Canada & international coverage
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