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Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our weekly Word to the Wise in your inbox, subscribe here . Dominating the news last week, after a drop in M&A activity caused from volatile oil prices, was the acquisition of Spartan Delta Corp ’s (“Spartan Delta”) oil and liquids-rich Montney assets by Crescent Point Energy Corp. (“Crescent Point”) On March 28, 2023, Crescent Point purchased Spartan Delta’s assets for $1.7 Billion. With the deal, Spartan Delta is divesting of one of its two main core areas, and focusing on its deep basin play (their remaining Montney assets will be transferred to a subsidiary spin off, Logan Energy Corp). The assets involved count for approximately half of Spartan Delta’s production. We’ve looked at both companies through a few different lenses using our Asset Suite software tools, which allow you to compare the companies and gain some insight of your own regarding this deal. These are very different corporate entities with almost all of Spartan Delta’s production assets in Alberta, where Crescent Point has a broader range […]
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