Spartan Delta Corp.

Description

Spartan Delta Corp is a publicly traded oil and gas exploration entity engaged in production of natural gas and petroleum in Alberta.

The exploration company is listed on the TSX Venture Exchange under the ticker symbol ‘SDE’.

The company’s business strategy is to acquire assets that can produce regular stream of cash flows and material upside under current commodity prices.

The exploration firm’s assets include multi-zone, high quality, oil and gas operated production and large-scale land with strategic infrastructure footprint.

The company focuses on acquiring those high-quality assets.

The oil and gas exploration entity intends to acquire the underdeveloped and undercapitalized.

On June 22, 2021, Spartan Delta acquired two significant assets, Gold Creek and Simonette areas for around $10.1 million in cash.

With this acquisition, the land holding of Spartan Corp in Alberta Montney to 132,000 net acres.

The exploration company at present is focused on the operations in Canada’s Western Sedimentary Basin with primary assets in both West Central Deep Basin and Alberta Montney.

The Canadian publicly listed firm claims that both the assets provide it an additional consolidation opportunities and drilling upsides.

Spartan Delta also owns around 400 solar panels. The firm says that the solar panels have power generation capacity at every pad site at its core operational areas. The oil exploration company has operated 48 wells.

The mining company also claims to have implemented safety and health measures as part of its COVID-19 response.

Its insider ownership includes 13.5 per cent interest and the oil producer intends to align its business interests with its shareholders by having 86.5 per cent shareholder composition.

Spartan claims that it believes in equal gender opportunity and employs 31 per cent female in management positions and 42 per cent women in workforce.

The company also has partnership claims with Indigenous communities including O’Chiese First Nation.