Text Size:
A | A

Spartan Energy Acquires Lightstream Resources Properties

Text Size: A | A
 
May 27, 2014

Spartan Energy Corp. (TSXV: SPE.V) announced on May 27 a strategic southeast Saskatchewan light oil acquisition.

Calgary, Alberta-based Spartan entered into a definitive purchase and sale agreement to acquire properties from Lightstream Resources Ltd. (TO: LTS.TO), also based in Calgary, for about US$90.4 million (C$98 million), the company said. The assets currently produce an estimated 1,000 barrels of oil equivalent per day (boe/d) of high netback, low decline light and medium oil and complement Spartan's existing southeast Saskatchewan assets, the company said.

The assets represent 20% of the production associated ...


Already a subscriber? Log In
Password:
 
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription