BRIEF-Spartan Energy says announces southeast Saskatchewan light oil acquisition

Wed Aug 3, 2016 6:37pm EDT
 
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Aug 3 (Reuters) - Spartan Energy Corp Sees 2016 Year

* Agreement on a "bought-deal" basis with underwriters for an offering of 22,100,000 shares at a price of $3.18 per share

* Board approved 2016 capital budget of $68 million, expected to be about cash flow neutral

* Anticipate spending level will yield average production of about 10,700 boe/d and exit production of about 12,500 boe/d for 2016

* Spartan energy corp. Announces southeast saskatchewan light oil acquisition, $70 million bought deal equity financing and updated 2016 capital budget

* Sees 2016 annual production 10,700 boe/d

* End net debt $58 million Source text for Eikon: Further company coverage: