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).
http://www.reuters.com/article/idUSFWN19L0VP
Source: Reuters.com