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Spartan Energy Corp.

Address Suite 500, 850 – 2nd Street SW, Calgary, AB, T2P 0R8, CA
Phone 403-355-8920
Fax 403-410-3378
Email [email protected]
Website spartanenergy.ca

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Spartan acquires light oil assets in southeastern Saskatchewan

Spartan Energy Corp. is pleased to announce that it has entered into an agreement with ARC Resources Ltd. to acquire strategic assets in southeast Saskatchewan for cash consideration of $700 million, subject to customary adjustments. The assets include high quality, low decline, operated production and a large land base which is highly complementary to Spartan's existing operations in southeast Saskatchewan. The acquisition will result in Spartan becoming one of the largest oil producers in Saskatchewan and represents a continuation of Spartan's strategy to develop an asset base that is capable of funding repeatable, low risk growth within a subset of cash flow.