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Home CompaniesSpartan Delta Corp

Spartan Delta Corp

Energy Oil & Gas E&P
PortfolioPortfolio WatchlistWatchlist
Company price
12.36 CAD -0.70 ( 5.36%)
Last update at 2026-11-04T14:51:00Z
VOLUME
156467
Market Cap
2425.36M
P/E
34.23

Momentum Score

…

Spartan Delta Corp. engages in the exploration, development, and production of crude oil and natural gas properties in Western Canada. Its assets are in Duvernay and Deep Basin in Canada. The company was formerly known as Return Energy Inc. and changed its name to Spartan Delta Corp. in May 2020. Spartan Delta Corp. was incorporated in 2006 and is headquartered in Calgary, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
11.96
Low
12.84
High
52 Week Price Range
2.60
Low
13.55
High

Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Spartan Delta Corp is a Canadian upstream oil and gas company that develops and produces heavy oil and liquids-rich assets in Western Canada. Long-term growth drivers include production optimization, selective drilling and potential asset consolidation, and the company may appeal to investors seeking commodity-linked cash generation.
Material risks include volatile oil prices, operational and reserve uncertainty, environmental and regulatory pressures related to emissions and carbon policy, and capital intensity that could limit flexibility.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
13.06
Dividend Yield
-
Revenue TTM
369.97M
Revenue Per Share
1.87
Gross Profit TTM
232.12M
Debt / Equity
0.29
ROE
12.50%
Net Debt
37.15M
ROCE
5.81%
Diluted EPS TTM
0.35

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 93.35M 43.93M 751.30M 710.02M 356.53M
Net income 70.02M 34.28M 663.11M 681.09M 334.22M
Selling general administrative 30.20M 25.79M 49.85M 112.48M 62.34M
Gross profit 82.27M 158.47M 317.78M 1104.13M 449.31M
Reconciled depreciation 146.17M 108.71M 148.67M 211.13M 102.89M
Ebit 52.08M 54.87M 791.29M 775.93M 277.30M
Ebitda 200.98M 165.87M 939.96M 987.06M 380.19M
Depreciation and amortization 148.90M 111.00M 148.67M 211.13M 102.89M
Operating income 52.08M 25.51M 213.62M 775.93M 277.30M
Other operating expenses 317.89M 281.75M 394.42M 720.25M 349.19M
Interest expense 9.46M 10.94M 40.00M 28.83M 13.59M
Tax provision 23.33M 9.65M 88.19M 28.94M 22.31M
Interest income 4.94M 0.06M 23.71M 1.10M 5.34M
Net interest income -4.51M -3.27M -16.28M -28.09M -13.18M
Income tax expense 23.33M 9.65M 88.19M 28.94M 22.31M
Total revenue 369.97M 307.26M 662.36M 1475.14M 618.84M
Total operating expenses 30.20M 132.95M 49.85M 349.25M 179.67M
Cost of revenue 287.70M 148.79M 344.57M 371.01M 169.53M
Total other income expense net 41.27M 18.42M 537.67M -65.91M 79.22M
Net income from continuing ops 70.02M 34.28M 663.11M 681.09M 334.22M
Net income applicable to common shares - 34.28M 663.11M 681.09M 334.22M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 1173.31M 933.14M 819.52M 2099.47M 1742.41M
Other current assets 27.42M - 19.90M 2.34M 6.80M
Total liab 524.68M 461.72M 389.81M 582.65M 855.76M
Total stockholder equity 648.63M 471.43M 429.72M 1516.82M 886.65M
Other current liab 152.51M 0.14M 154.51M 92.32M 56.40M
Common stock 112.35M - 11.71M 553.65M 517.19M
Capital stock 112.35M 13.53M 11.71M 553.65M 517.19M
Retained earnings 521.00M 450.99M 416.70M 938.77M 343.39M
Other liab - - - 122.80M 180.04M
Other assets - - - 119.96M 150.39M
Cash 151.12M 0.92M 0.41M 124.40M 1.25M
Cash and equivalents - - - 124.40M 1.25M
Total current liabilities 277.24M 242.37M 250.25M 278.63M 243.57M
Net debt 37.15M 119.99M 79.30M 66.28M 441.12M
Short term debt 9.98M - 9.47M 9.45M 10.21M
Short long term debt total 188.27M - 79.71M 190.68M 442.36M
Other stockholder equity 15.29M - 1.30M 24.40M 26.07M
Property plant equipment - - - 1670.51M 1481.86M
Total current assets 240.60M 211.12M 221.85M 309.01M 110.16M
Net tangible assets - - - 1516.82M 886.65M
Net receivables 62.06M 47.15M 50.67M 140.41M 96.74M
Long term debt 159.86M 120.91M 44.48M 145.18M 387.56M
Inventory - - 150.86M 41.86M 5.37M
Accounts payable 114.75M 79.00M 86.27M 176.85M 176.97M
Non currrent assets other 110.53M - 6.17M - 7.50M
Non current assets total 932.71M 722.02M 597.68M 1790.47M 1632.26M
Capital lease obligations 19.20M 25.84M 35.23M 45.49M 54.80M
Long term debt total - - - 181.22M 432.15M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -240.53M 1324.93M -442.30M -925.71M
Change to liabilities - - - 0.00M 0.00M
Total cashflows from investing activities -343.34M -240.53M 1324.93M -442.30M -925.71M
Net borrowings 29.14M 66.95M -110.31M -251.47M 379.70M
Total cash from financing activities 122.31M 66.95M -1924.57M -230.14M 644.46M
Change to operating activities - - - -39.24M -18.08M
Net income 70.02M 34.28M 663.11M 681.09M 334.22M
Change in cash -0.62M 0.52M -123.99M 123.15M -1.44M
Begin period cash flow 151.74M 0.41M 124.40M 1.25M 2.69M
End period cash flow 151.12M 0.92M 0.41M 124.40M 1.25M
Total cash from operating activities 220.41M 174.08M 475.67M 795.37M 279.77M
Issuance of capital stock 93.17M 0.00M 0.05M 21.42M 264.76M
Depreciation 148.90M 111.00M 140.18M 211.13M 102.89M
Other cashflows from investing activities 31.35M -2.21M -50.22M -1.68M 14.63M
Dividends paid 0.00M -0.05M -1597.57M - -
Sale purchase of stock - 0.00M -16.58M 21.42M 264.76M
Other cashflows from financing activities -9.81M 0.05M -216.69M 327.12M 544.56M
Change to netincome - - - -54.16M -141.58M
Capital expenditures 316.88M 161.90M 295.05M 440.62M 612.95M
Change in working capital -14.11M -0.02M 59.20M -39.24M -18.08M
Stock based compensation 12.97M 7.43M 29.67M 12.33M 6.26M
Other non cash items -7.72M 11.75M -475.01M -98.87M -167.83M
Free cash flow -96.47M 12.18M 180.62M 354.75M -333.18M

Peer Comparison*

Sector: Energy Industry: Oil & Gas E&P

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
SDE
Spartan Delta Corp		 -0.70
5.36%		 12.36 34.23 19.30 6.56 3.74 6.29 10.46
CNQ
Canadian Natural Resources Ltd		 -1.27
1.69%		 73.70 11.45 12.38 3.26 2.78 3.15 6.36
OXY
Occidental Petroleum CDR (CAD Hedged)		 -0.95
3.80%		 24.08 42.29 13.11 2.65 2.04 3.96 7.33
TOU
Tourmaline Oil Corp.		 -0.79
1.19%		 65.49 87.74 15.80 5.03 1.50 3.97 7.33
OVV
Ovintiv Inc		 -1.96
2.11%		 91.01 11.06 7.80 2.46 1.34 2.39 6.40

Profile*

Spartan Delta Corp

Spartan Delta Corp. engages in the exploration, development, and production of crude oil and natural gas properties in Western Canada. Its assets are in Duvernay and Deep Basin in Canada. The company was formerly known as Return Energy Inc. and changed its name to Spartan Delta Corp. in May 2020. Spartan Delta Corp. was incorporated in 2006 and is headquartered in Calgary, Canada.

Jamieson Place, Calgary, AB, Canada, T2P 0H7

403 265 8011

https://www.spartandeltacorp.com

107

Name Title Year Born
Mr. Richard Francis McHardy Exec. Chairman 1969
Dr. Fotis Kalantzis P.Geoph, Ph.D. Pres, CEO & Director NA
Ms. Geraldine Louise Greenall C.F.A. Chief Financial Officer 1974
Mr. Thanos Athanassios Natras VP of Exploration NA
Mr. Randy Murray Berg VP of Land NA
Mr. Craig Christopher Martin VP of Operations NA
Mr. Mark Alan Hodgson VP of Corp. Devel. NA
Brendan Archibald Paton Mang., Engineering NA
Mr. Sanjib Singh Gill L.L.B. Corp. Sec. 1976
Ms. Ashley Hohm VP of Fin. & Controller NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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