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:
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Source: Reuters.com
