June 29, 2016 / 3:57 PM / a year ago

BRIEF-Spartan Energy announces two consolidating Southeast Saskatchewan Light Oil acquisitions

June 29 (Reuters) - Spartan Energy Corp

* Spartan Energy Corp. announces two consolidating Southeast Saskatchewan light oil acquisitions and bank line redetermination

* Says two separate transactions for a total aggregate purchase price of $71.7 million

* Acquisition will be funded through indebtedness drawn on Spartan’s existing credit facilities

* Syndicate of lenders underwriting company’s credit facilities have determined to renew Spartan’s credit facilities at $150 million

* Corning-Manor acquisition is accretive on key measures, including 9% on forecasted 12 month cash flow, 25% on proved producing reserves

* Next borrowing base redetermination is scheduled for October 31, 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below