Spartan Energy, $2.49, symbol SPE on Toronto (Shares outstanding: 262.6 million; Market cap: $658.0 million; www.spartanenergy.ca), develops, produces and explores for oil and natural gas.
The company was formed from the merger of Renegade Petroleum and Alexander Energy in February 2014. Following the merger, Alexander Energy was led by the former management of Spartan Oil, a company that Bonterra Energy bought for $441 million at the end of 2012.
On March 3, 2014, Alexander Energy consolidated its shares on a 1-for-4 basis and changed its name to Spartan Energy. It’s now focused on producing and exploring for oil and natural gas in Saskatchewan.
The Renegade merger boosted Spartan’s production from an average of just 850 barrels of oil equivalent per day to 6,396 barrels. Production was 7,399 barrels in the three months ended September 30, 2014. About 94% of its output is oil. The remaining 6% is gas. Cash flow per share was $0.11 in the latest quarter.
As part of the merger, Spartan…
Privacy Policy and Terms of Use
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Changes to this Policy
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