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Spartan Delta Corp.

Company Summary

Description

Spartan Delta will focus on cash flow generating assets where management can positively impact cost structure and deliver on top tier inventory, both domestically and potentially abroad.

Website

https://www.spartandeltacorp.com/

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Recent news

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Investor Presentations

Company Transactions

Date: 5/30/2023
Type: Acquisition

BUYERS:
  • Crescent Point Energy
    • SELLERS:
  • Spartan Delta Corp.
    • DETAILS:

    COST: 1.7 $B

    VOLUMES: 38 MBOE/d

    ACRES: 235000 Acres

    NOTES:
    Crescent Point Energy has signed a deal with Spartan Delta Corp. to acquire the firms oil and liquids-rich Montney Shale position in Alberta for $1.7 billion in cash. The holdings include 600 Montney drilling locations (20 years of premium inventory), 38 Mboe/d in current production (55% liquids) and 235,000 net acres of land rights.
    REGIONS:
  • Montney Formation

    • Date: 9/2/2021
    Type: Acquisition

    BUYERS:
  • Spartan Delta Corp.
    • DETAILS:

    COST: 34.9 $MM

    VOLUMES: 2.1 MBOE/d

    NOTES:
    Spartan Energy has signed a deal with an arms-length private entity that is connected with a bankruptcy process to buy Deep Basin assets for $34.9 million. The Ferrier Acquisition, as they call it, includes 2.1 Mboe/d in current production and 19 MMboe in 2P reserves.
    REGIONS:
  • West Central Alberta Deep Basin

    • Date: 8/30/2021
    Type: Acquisition

    BUYERS:
  • Spartan Delta Corp.
    • SELLERS:
  • Velvet Energy
    • DETAILS:

    COST: 743.3 $MM

    VOLUMES: 20.6 MBOE/d

    ACRES: 281700 Acres

    NOTES:
    Spartan Delta Corp. has signed a deal to acquire private Montney producer Velvet Energy for $743.3 million. They are funding the deal with cash on hand, a $150 million equity financing, a new $150 million term facility and the existing revolving credit facility that is being increased from $100 million to $450 million upon closing. Spartan is also assuming $371 million in debt from Velvet as part of the deal.
    REGIONS:
  • Montney Formation

    • Date: 6/23/2021
    Type: Acquisition

    BUYERS:
  • Spartan Delta Corp.
    • DETAILS:

    COST: 10.1 $MM

    VOLUMES: 0.3 BOE/d

    ACRES: 33500 Acres

    NOTES:
    Spartan Delata Corp. has reached a deal to acquire 33,500 net acres of Montney rights for $10.1 million in cash. This included 100 new Montney locations, 300 boe/d in production and facilities on the assets.
    REGIONS:
  • Montney Formation

    • Date: 3/18/2021
    Type: Acquisition

    BUYERS:
  • Spartan Delta Corp.
    • DETAILS:

    COST: 22.9 $MM

    NOTES:
    The Simonette assets were purchased for $22.9 million, including $17.2 million in cash and 1.5 million common shares, closing is targeted for March 18, 2021.
    REGIONS:
  • Western Canadian Sedimentary Basin

    • Date: 3/18/2021
    Type: Acquisition

    BUYERS:
  • Spartan Delta Corp.
    • DETAILS:

    COST: 6 $MM

    NOTES:
    The Willesden Green deal was done for $6 million and will close on or around March 1, 2021.
    REGIONS:
  • Western Canadian Sedimentary Basin

    • Date: 2/17/2021
    Type: Acquisition

    BUYERS:
  • Spartan Delta Corp.
    • SELLERS:
  • Inception Exploration Ltd.
    • DETAILS:

    COST: 119 $MM

    NOTES:
    The acquisition of Inception includes the issuance of 23.7 million Spartan common shares to Inceptions shareholders, along with the issuance of a $50.0 million unsecured non-interest-bearing convertible promissory note to Inceptions existing debtholders.
    REGIONS:
  • Western Canadian Sedimentary Basin
  • Montney Formation