TORONTO, Oct, 15, 2021 /CNW/ -
Fotis Kalantzis, President, Chief
Executive Officer and Director, Spartan Delta Corp. ("Spartan'' or
the "Company") (TSX: SDE) and his team joined Berk Sumen, Head of
TSX Company Services, TMX Group, to celebrate the Company's
graduation to Toronto Stock Exchange and to open the market.
Spartan Delta is a new energy company led by an experienced team
with a record of efficient capital discipline and value creation
through consolidation and development. Sixteen months ago, it
was a 250 boe/d company listed on the Venture Exchange.
Today, after 8 accretive acquisitions and development drilling, it
is producing over 60,000 boe/d of oil, natural gas and liquids,
listed on the TSX.
Spartan Delta has dominant positions in two core areas, the
Montney and Deep Basin, yielding
some of Canada's most prolific
economics. The Deep Basin with >425 drilling locations with
robust economics and infrastructure footprint is Spartan's Free
Funds Flow engine. Post Velvet acquisition, Spartan Delta is the
dominant player in Canada's
Montney oil window with 450,000
acres of land and >1075 drilling locations providing growth for
the next decade. The Company has strong financial sustainability
with prudent leverage and strong Funds Flow across a range of
commodity prices. Spartan's three-year development plan is focused
on organic growth and Free Cash Flow generation.
Spartan Delta is a sustainable modern company with a clean
operating platform and no liability overhang; all the assets
acquired to date are new with minimal legacy environmental
liabilities and new infrastructure. It has built strong Indigenous
partnerships for sustainable and responsible resource
development.
"We are very excited today to start a new chapter in the growth
of Spartan Delta with the official listing of our company on the
TSX", said Fotis Kalantzis,
President and Chief Executive Officer of Spartan.
For Market Openings: Media may pick up a feed
from the TOC (television operations centre) for all market open
ceremonies. The feed is named TSX Transmit 1 (SD-SDI) and is
produced at the TMX Broadcast Centre and sent live to the TOC. To
pick up the feed via the Dejero network, please contact
avservices@tmx.com. The client feature video will begin playing on
the TMX media wall at approximately 9:27
a.m. ET and the markets will open with the sound of a siren
at 9:30 a.m. ET
Date: Friday October 15,
2021
Time: 9:00am - 9:30am
Place: Virtually
Broadcast
SOURCE Toronto Stock Exchange